双语｜万达告别房地产令人意外，昔日首富到底作何打算？
双语｜万达告别房地产令人意外，昔日首富到底作何打算？
摘要
万达彻底告别房地产行业，王健林放弃老本行到底作何打算？这是不是意味着中国房市冬天即将到来？ flesh,leaving it with an asset-light soul. 万达卖掉了钢筋混凝土的肉身,而留下了轻资产的......万达彻底告别房地产行业，王健林放弃老本行到底作何打算？这是不是意味着中国房市冬天即将到来？
"flesh,leaving it with an “asset-light soul.”
“万达卖掉了钢筋混凝土的肉身,而留下了轻资产的灵魂”。
One can no longer call Wang Jianlin and his Dalian Wanda a Chinese real estate giant, as it has waved goodbye to its traditional business. The group is now focused on becoming a leader in theme park and hotel management.
王健林和他的大连万达集团再也不能被称之为中国的房地产巨头了，因为万达已经告别了其传统的房地产业务。万达目前正集中精力想要成为主题公园和酒店管理行业的一个领导者。
The “asset-light” transformation strategy was unveiled in 2015 when Group Chairman Wang gave a lecture at the Shenzhen Stock Exchange, saying that “heavy assets” will disappear from Wanda Plaza projects, meaning that Wanda Commercial Properties will be transitioned from a real estate developer to a business investment service operator.
万达的“轻资产”战略转型始于2015年，当时万达董事长王健林在深交所发表了一份演讲，称“重资产”将从万达广场项目中消失，意味着万达地产将从一个房地产开发商转型成为一个商业投资服务商。
One year later, Wanda reportedly began its transformation when Wanda Hotels and Resorts signed an agreement with Baicheng Real Estate Group for management of Wanda Realm Wuzhishan in Hainan province.
据报道，一年之后万达开始了转型，当时万达旗下的酒店和度假村与百城房地产签署了一份协议，委托后者管理万达在海南的五指山项目。
Since this February, Wanda has withdrawn more than 40 billion yuan ($5.9 billion) from no less than 84 Wanda Plaza projects. By July, Wanda has agreed to sell 77 city hotels and 13 resort projects for a total of 63.75 billion yuan to Guangzhou R&F Properties and Sunac China Holdings, National Business Daily (NBD) reported.
从今年2月起，万达集团已经从不少于84个万达广场项目中撤出了超过400亿资金。《据每日经济新闻》报道称，7月时，万达还同意出售77家城市酒店和13个度假村项目给广州富力地产和融创中国，总价值637.5亿人民币。
The latest reshuffle plan was announced on Aug. 9 as Wanda Cultural Travel Innovation Group and Wanda Hotel Management were sold for 7.05 billion yuan to Hong Kong-listed Wanda Hotel Development, marking the completion of a 11.09 billion yuan capital transformation, according to NBD.
而万达又在8月9日宣布了最新的重组计划，称万达文化旅游创新公司和万达酒店管理集团以70.5亿的价格出售给了在香港上市的万达酒店发展公司，而这标志着完成了110.9亿人民币的资金改造。
“We believe the Chinese real estate industry has come to a turning point in terms of supply and demand, and the era of huge profits has come to an end,” Wang said in his speech in 2015.
在2015年的演讲中，王健林曾经说道：“我们认为中国的房地产在供需方面已经达到了转折点，巨额利润的时代已经结束了。”
Chinese real estate giants have been looking for a way out in recent years as the Central Government continues to enact measures to curb housing prices.
近年来，由于中央政府继续出台措施抑制房价，中国的房地产巨头们一直在寻找出路。
Another peer of Wanda, Vanke, has launched several senior care projects in several Chinese cities. In July, it also made public its logistics ambition by announcing the Vanke-led purchase of Global Logistic Properties Ltd, NBD reported.
万达的同行万科也在中国几座城市推出了高级护理项目。据《每日经济新闻》报道称，今年7月，万科还宣布要进军物流行业，并且宣布由万科领衔的中国财团收购普洛斯。
Dalian Wanda reshuffles $1bn of assets万达集团重组10亿美元资产
Hong Kong-listed Wanda Hotel Development announced late it would buy nearly $1.1bn of assets from Wanda’s theme park and hotel management units. It will also sell its stakes in four of its most prominent overseas development projects for an undetermined amount, giving the conglomerate’s unit Dalian Wanda Commercial Properties 100 per cent ownership.
在香港上市的万达酒店发展有限公司(Wanda Hotel Development)宣布，其将向万达旗下主题公园和酒店管理部门收购近11亿美元的资产。该公司也将出售其在4个知名海外开发项目中的股权，使这家企业集团旗下的大连万达商业地产(DWCP)获得100%所有权。
The restructuring comes a day after the group denied rumours it was trying to sell nearly $2bn of property projects in Australia, which are among those sold to DWCP.
这次重组的1天之前，万达集团否认了其正尝试出售在澳大利亚的近20亿美元的地产项目的传闻。这些项目确实出现在出售给大连万达商业地产的项目之中。
Analysts said the asset reshuffle was a move to group similar assets together while freeing up its listed arm of expensive overseas real estate projects.分析师们表示，资产重组的目的在于把类似资产分组，同时使万达集团的旗下上市公司不会受到昂贵海外地产项目的拖累。
The sale, which still requires shareholder approval, in effect transforms Wanda’s listed arm from a property developer to solely managing and designing Wanda’s tourism and hotel properties as part of an “asset light” approach the company adopted in the face of dipping sales.
这次出售――仍有待股东批准――实际上把万达集团的上市子公司从一家房地产开发商转型为仅仅管理和设计万达集团旗下旅游和酒店项目的公司，作为万达集团面对销售下滑采取的“轻资产”模式的一部分。“The business of management service is less capital intensive than property development,” said Kaven Tsang, a vice-president at Moody’s.“跟地产开发相比，管理服务业务的资本密集程度较低，”穆迪(Moody's)副总裁曾启贤(Kaven Tsang)说。
Wanda’s restructuring comes against a financial clampdown on some of the country’s most aggressive dealmakers, whose corporate debt levels regulators worry could jeopardise China’s economy.
万达进行重组之际，监管机构正对国内一些在并购方面最咄咄逼人的企业进行金融整顿，担心这些企业的债务水平可能危及中国经济。
In July, Wanda became one of five conglomerates investigated for their exposure to financial risk, while separately regulators warned Chinese banks to restrict additional financing to the property company. In an interview with the Financial Times in April, Mr Wang admitted that an acquisition bid for Dick Clark Productions had fallen through because of capital controls.
今年7月，万达成为因财务风险敞口而遭调查的5家企业集团之一。与此同时监管机构警告中国的银行不要对这家地产公司提供更多融资。王健林4月在接受英国《金融时报》采访时承认，万达收购迪克?克拉克制片公司(Dick Clark Productions)的交易因资本管制而告吹。
Wanda recently signed a deal to sell $9.43bn worth of hotel and tourism properties, including its Nanchang theme park that was intended to rival Disney Shanghai, to developers Sunac and R&F Properties. Proceeds will go to pay down approximately $24bn in DWCP’s debts, which come due next year.
万达近来签署了把价值94.3亿美元的酒店和旅游地产出售给融创(Sunac)和富力地产(R&F Properties)的合同，其中包括原本意在挑战上海迪士尼(Shanghai Disney)的南昌万达主题公园。所获资金将用于偿还大连万达商业地产将于明年到期的大约240亿美元债务。