Group 1 - A new company named Beijing Hongrui Panda Management Consulting Partnership (Limited Partnership) was established on August 21 with a registered capital of 8.053 billion yuan [1] - The company has four shareholders, with Dalian Wanhang Enterprise Management Co., Ltd. holding 54.9669%, Beijing Panda Business Management Co., Ltd. holding 28.9949%, Suqian Hanbang Investment Management Co., Ltd. holding 15.9141%, and Beijing Panda Panshi Business Management Co., Ltd. holding 0.1242% [1] - Dalian Wanhang is fully owned by Dalian Wanda Commercial Management Group Co., Ltd., while the other three shareholders are owned by JD.com [1] Group 2 - The company's business scope includes enterprise management consulting, enterprise management, information technology consulting services, and information consulting services [3] - The registered address of the company is the same as JD.com's headquarters, located in Beijing Economic and Technological Development Zone [4] - JD.com previously invested 5 billion yuan in Wanda Commercial in early 2018 as part of a strategic investment involving Tencent, Suning, and others [4] Group 3 - In 2021, Zhuhai Wanda Commercial Management faced pressure from investors to complete an IPO by the end of 2023, failing which it would need to repay investors [5] - In March 2024, a new light-asset operation entity named Xinda Alliance was established with an investment of approximately 60 billion yuan, where new investors hold 60% and Dalian Wanda holds 40% [5] - In May of this year, JD.com was involved in acquiring 100% equity of 48 target companies under Dalian Wanda Commercial Management, primarily related to Wanda Plaza projects in major cities [6]

Group 1 - Wanda and JD have established a new management consulting partnership in Beijing with an investment of approximately 8.053 billion yuan [1] - The ownership structure shows that Wanda holds about 54.97% and JD holds approximately 45% of the new entity [1] Group 2 - A consortium led by TPG is set to acquire 100% equity of 48 companies under Wanda Commercial Management [3] - Other participants in the acquisition include Gaohe Fengde, Tencent Holdings, and Sunshine Life Insurance [3]