Wang Jianlin: Yes Wanda, Shanghai Disneyland 20 years is difficult profitUpdated: May 21, 2016 Views: 184
Tiger olfactory NOTE: Wang Jianlin recently went to the CCTV << dialogue >> columns, hundreds of minutes of the program, talk to a lot of new content, Wanda is the first public response to privatization, as well as investment Sicong view this period. programs will be aired for the first time in the may 22, that is tomorrow, tiger sniffing the contents of the first to choose a wonderful po out. original order issued by Chinese entrepreneurs, tiger sniffing reprint ed.
Wanda, Shanghai Disneyland can not win profit within 20 years!
How to evaluate Shanghai Disneyland? Should first admit that Disney is a global entertainment industry, especially the amusement industry. After only a century of growth in the world to open a theme park in the park about six passengers 130 million per year, (Disney is the world's largest tourism enterprises, which no doubt is a very good company, but they opened Disneyland in Shanghai, I have a grasp of the odds, and I speak a word within the company, to make this a Disney Chinese financial years to earnings within two decades can not benefit.
I have said that a Disney theme park is an outdoor paradise, with its advantage is that IP is more, in turn, become a burden, it will expand the original IP products do little to study new business models and new things. This it poses a problem, totally do outdoor recreational projects in Shanghai, I personally feel that the climate is not so advantageous, more rain in summer, dozens of days of rainy, winter is cold. another one, now is not Mickey Mouse, Tang duck crazy, blindly follow the era, it is entirely the previous IP clone image, clone the previous product, no more innovation.
And there is a very important issue is the high cost, which open up a park, spent 5.5 billion US dollars, so I did not understand this, we are inside analyze why so expensive, not one word, two words clearly explained, such a high cost, I can only conclude that taking high price to maintain financial balance, high prices will lose customers.
Disney does not believe China Wanda, it should not come to the mainland, because we have a strategy that is good tiger Jia Buzhu pack of wolves, Shanghai only a Disney Wanda in other parts of the country, opened a 15-20 And so faster, this Paradise park with another completely different formats, constant innovation, and the combination of indoor and outdoor, so I feel I am Disney in China, financial condition and prospects at least I am not optimistic.
Sorry underestimate the value of shareholders and investors, must be privatized
Indeed many people, including the international market of domestic capital markets people do not understand, Wanda listing of ups and downs, finally ready on the domestic capital market have called the pause, pause for several years, which have no chance, so trying to go to Hong Kong listed listed after just a year and a half and the privatization of delisting, must pay a higher cost than listed, the reason why may be diverse, the core reason is two points.?:
First, we think the value is significantly undervalued. Wanda is different from the real estate company, pay attention to see earnings, net profit last year, which constitutes 35% from fixed rental business, is derived from the leasing business, has 1/3. Beyond See the previous year was 30%, that means an increase of 5.2% per year, over 40% of net profit this year, at least more than the rent industry, valuation is not a simple real estate company, we are less than five times the Hong Kong stock market capitalization is still below net assets, so let us underestimate the value of this can not stand.
I do a lot of the industry, how many times to invest, I invested a lot of friends along together, very happy with every single earned only this single, followed by my friends losing money. This is a very important point, I'm sorry I can not friends and shareholders. Therefore, we must privatize.
The second point is that once privatization has created a new global model. All are initiated by the privatization of major shareholders, and the acquisition of major shareholders, major shareholders but this time did not take a penny, we do not participate in the privatization All privatization money, I do not borrow money, I do not liabilities, the first to sign the agreement very clearly, not for these investors guarantee you optimistic that he came in, we do not assume any costs.
Because I am in the company's shares accounted for Liu Cheng, group + individual has more than an absolute majority, then privatization, individuals accounted for in the company too high, it does not meet our future coherent strategy.
Play the principle of capital: debt just across the bridge, leveraging the power
First, this sentence is a joke, then as a speech at Harvard, what is the core competitiveness? I joked that money, I was answering a few core competencies are few, pay attention to this, to talk about money, how comparable to state-owned enterprise? but found a problem overseas, some investment bank believes that Wanda continue to try to produce a very heavy financial burden. in fact wrong, a serious look at all the mergers and acquisitions is a feature, after merger finished, one to two years, capitalization, after the capital, M & a will take the money back, will not they kept debt, to expand their business, which is not possible. so you can see, the legendary American acquisitions. after the merger completed, the state-owned private capital markets , and get back all the costs.
Hong Kong privatization, more than thirty billion, a lot of money, and also completely these friends and investors to participate, after the listing of additional shares, the same as with the Hong Kong shares to them, the Hong Kong shares finished adding to them, we do not share diluted but investors may be raised and the entire value of the company, including the previous year spent almost $ 20 the acquisition of some hundreds of millions of sports company, we will carry out private and within seven years, probably acquired the money to take back sports are probably the fight law.
Just beginning to raise funds mergers and acquisitions, M & A purposes, business done, leading the model established, the logical relationship clear, this company in the future how profitable, what kind of business model, and then through a private placement or through the market after issuance, the cost dilute look understand this will think that all liabilities are temporary, are the equivalent of the bridge.
Karate is the highest state of doing business, at no cost to play
I have said a word a few years ago, within the company, or spoken in a small area, the highest level of business is karate, at no cost to play, but the karate is based on the absolute foundation of strength and brand on Disney is not karate? karate is to invest around, basically could not see any money, with the brand, franchise, etc., like McDonald's, KFC, and now globally popular franchise, do not take a penny for with my brand, my money, and so on, the same.
Because in the entertainment industry, which has established its own brand, we now buy back a legend, two months ago we engage in private, took 15.8 billion, more than the acquisition of money, after the tax is removed, equal to the acquisition of money all get back, I'm just a little diluted stake my film and television industry, so there is no debt, so this merger, then, if it is in accordance with this model, the future will continue to do, of course, very difficult to be able to achieve this state, you must to establish long-term reputation, brand influence, others trust you, I believe you, put your money to make money.
I value is 'six', but he did not sell it to me, not to trust him to be able to sell your level, you can buy outside of the 'six', and have a better impact and image of the legendary IP products . after six and two companies, one is Shimen, is a legend, Shimen how to buy a listed company, the acquisition of 5% to the announcement, go on, particularly difficult to think of the bottom control. legend is a private company, then submit them in IPO early, we talked, and finally the actual transaction price has yet to $ 3.5 billion, about a series of arrangements to ensure profitability. we also see, the listed companies have issued a bulletin a few days details of the transaction will come out.
Legend is a fluctuation, not too stable company best last year profit of more than 200 million US dollars loss of almost several hundred million dollars, the core reason is to see the product this year, one or two big product launch, earnings look good this year no good works, cast a work, but this work is a huge loss, causing a loss. we now buy the company, before the negotiations had a long talk, time to talk about the future for this type of risk control, how annual investment requirements , how to ensure profits, we have institutional arrangements.
Go West to buy assets, the factors to be considered a change of government
Madrid, Spain, later building this thing Wanda, foreign investment in Chinese enterprises is a very valuable asset.
Bank demolition was the mayor in charge of Madrid, a deputy mayor, and regional government, are all talked about, are agreed to, but the bank also has a contract with to help us solve this thing. So we was also envisioned, if not, the money cost pressure is relatively low, if you get the planning permission, not the price, and you can get change it again, this cost is not in the center of the national landmark, is Madrid European architecture, are 20 and 30 meters in height, I wonder, why was the construction of buildings over 100 meters in a palace next to it, so why is it called a landmark, we also have a defensive mentality. If planning permission is not got the price , more than double by.
When dealing with Western regime or to purchase products, factors to be considered general, is your approval with which the next government to be approved, the license can be obtained. This kind of thing, or buy, investment projects have already received planning permission, the project also still have to review their own, that is too much to believe that the previous municipal government and district government's commitment to ignore it within a year they will be general, this procedure does not do foreign so fast, there have been general after The new government does not recognize you.
So go ahead and buy this thing cheap, we can make way, but there may be Chinese companies to buy a thing, or Wanda does not rule out in the future there is no one thing to consider, investment quilt came after the emergence of this situation, this Wanda thing in itself not very meaningful, since we do not lose money to leave, but for Chinese enterprises to go out there is one very good lesson.
Go overseas development must Wanda brand
Wanda in overseas real estate investment class projects themselves are restructuring, is not the main business, Wanda M only three kinds, entertainment industry, tourism industry, the sports industry. Real estate investment class project we only have significant landmark hotel, why? I still have a little feelings.
I think, in the world of luxury hotels, or well-known hotel brand which is not a Chinese person, do not do a hotel management companies even more difficult than do two bombs? I have not submitted, Wanda Why in the country set up the first hotel company, we are now almost the hotel is a half from the tube, half delegated administration.
Good times point of view does not come out, because all kind of fire, because all packets between the room set is not on the result of a slightly slowing down the economy, we can see, all of our own management indicators can be completed, commissioned management indicators than half finish. so I was determined to go abroad when development must use the Wanda brand.
We unified with the splendor of the Wanda brand, as well as eight overseas projects, we will move overseas, but not too much in the national landmark, landmark city, probably the first 15-20, leave it. To build the Chinese hotel brand OK, this is not Wanda's main business investment. and a project is several hundred million dollars, if I have some development, but also to recover a little less, this is not our core business, so this aspect to our future investments on this project a little more careful.
10 years later, China's sports industry to achieve 800 billion dollars
Iron Man and Infront are linked, but the layout is not exactly a relationship, Infront inside the iron man of the project, held in Europe Ironman World Cup, is made infront of the Office, the triathlon this movement inside the United States WTC, Iron Man is absolutely leader, so we want to integrate future acquisitions, put all three sports, this one all to him.
And you'll see there is a not noticed, we acquired the WTC later, followed a year later there WTC acquired French pull home Dell, also a title, the distance is the iron man of the company, the company in the mid-range iron man on sports in the world, the proportion of relatively large, but also more than half of this company and also, now become an absolute right to speak artificial iron companies, long-distance Ironman projects accounted for 90% of the world the distance, middle distance Ironman projects accounted for more than 70%, this movement is basically approaching a monopoly. so I have this contact, but there are other items that may not be linked.
Love the sports industry, the first should be the first to engage China from my own football club, in 1993, China's first football club that I started it. Now back to carry out his sports industry, because this industry environment, the industry rule impact. we do not buy the club, no matter what club, soccer, rugby, ice hockey, baseball, basketball, etc., because all clubs do not make money, we are talking about is the club face, no lining, are well-known clubs, social high status, but basically players took profits are, at most, to make ends meet. but we do not engage in industry, we engage in the industry we are talking about, we are trying to take the B-side and a-side.
First, an international individual organizations, sports organizations and the industry must be able to expand. We go in this sport organizations to acquire exclusive rights to it, or become a business partner, we will announce this week and early June two cooperation projects is an agreement with two major international sports organizations, to become its sole partner so you can get the right agent, this sports, football, basketball can not see right and wrong, and we sell broadcast rights to sell certain to crop production costs, which It was the first to get a profit, which is stable, which is a good income.
Second, we all acquisitions of these companies have a sports basic logic, is the company's movement can be landed in China. That is only industry in China will have to make high profits, will have ultra-high growth, because in Europe, although the sports industry is very stable, is an annual, international football agent such as Infront, agency fee seven winter sports each year enough to eat, and profit is very stable, no big growth, but in turn, we in China a landing, engage in a project.
What is China's sports industry is it? Infant just born. Our sports industry per capita is only 1/50 of the United States in the world, also in extreme backwardness of our sports industry has just begun, we China is so big, only a few million dollars. our country sports industry has an ambitious plan in 2025 after a decade to achieve eight hundred billion dollars, five trillion yuan, has become a pillar industry of the country.
Entrepreneurs should have the foresight, the courage to decision
I think that, as an entrepreneur should have most people can not see through, do not understand business sense, otherwise your judgment with all the same. It should be available should be more proactive, and more predictability, anticipation, but also should be more strategic, a lot of people do not have decision-making capacity, resourceful little off, wisdom almost no determination, not to become entrepreneurs. In fact, as in the past war, the reason for the generals, the conductor, dare is the decision.
But people do not understand that you only invest in the beginning, when the company made model, should be placed on the capital markets or to seek investment, private investment sought, or listing, or to seek what, this business model we must understand it. your profit model, have clearly tell you that your income comes from business where your profits come from. If you can not read at this time, not to do business, become a story, we have domestic this minority entrepreneurs, everyone is always talking about do not understand, including our not understand, do not understand the things that tell a story.
Wanda If there are certain duties future pensioners still alive, which is a shame
We are now more than 2,900 in $ 2 billion a year, more than 6,000 billion in assets, 12 million, nearly 130,000, to allow the company to maintain high growth, you can see Wanda growth of 21% last year, before the ninth consecutive year is 30% or more ring than growth, this growth, asset profit, but mainly to maintain growth of profits, to do this very tired. during the economic downturn, but also to maintain such a high speed, and of course, the core team to pay more at the same time we also have a goal, is to make these people feel Wanda work full of happiness, it is to create more revenue.
I said a word, if Wanda did some years or relatively stable point position, if future pensioners alive, this is one of our shame. We strive to create wealth for everyone to share the wealth. I aircraft Chinese private aircraft flying miles up, equivalent to the level of the flight attendants, flying several hundred hours per year, can not you tired? definitely tired.
I have through their own efforts, at least in some aspects of this phenomenon change, the future success of Chinese people who say, who is the real success. So now I think I am going to fight this goal, and often achieve such a goal, I think me is a lot of satisfaction.
At least in the future development of the entertainment industry, the sports industry and tourism industries in these areas to the Chinese people to become the industry leader in the world, and in the future we have the right to speak and the right rules. Maybe I can not completely change the future, but I tried a little bit change, I fought, do this, I do not feel tired, I feel a sense of accomplishment. I do not think he is very successful, still on the road.
My goal is to have a great vision is to change the Chinese people have the right to speak in certain areas of the world. I also fought for Life goal is to gradually corrected, I can not put everything in the coffee shop wants to understand the many objectives set, in fact, the beginning is probably the direction I want to go over there, go after the discovery to achieve this goal, and then where to go, is a set milestones.
So give yourself to set goals in life, my perception is that first of all have a great ambition, aim high, dry event, no ambition not succeed. The second point is the goal or ambition realistic positioning stage, stage amendments to feasible. so I think had to set their own goals more appropriate, and if there is not the original idea of a building, maybe not today, relatively excellent Chinese private enterprises.
We have declared 2020 Wanda strategic objectives, we called the 2211 strategy, announced last year. Assets is 200 billion, 200 billion market capitalization, $ 100 billion revenue increase ten billion US dollars, and now look, this goal can certainly, the prevailing goal of 15% growth per year to maintain it, but has reached 20%, this year will be to maintain high growth. so my next goal is to reach the 2211 strategy we are talking about.
If Sicong invited me to his live debut platform, I would definitely go and is free of charge
Houshengkewei, he started investing, I think it is due to the angle of exercise, but now found that young people are more advantages than we have, or where I am more important than some places quasi-point, when he told me gaming to do when I feel completely weird. now look really, this industry has been driven up, and so on, including his first to do live, and now it seems our generation entrepreneurs disadvantages areas.
So he is his own personal business, I was AG, I do mine, and he did his. If one day I said to invite his live debut at the platform, save some of his popularity, I would definitely go and no charge. I did not want him to consider his own or not, he has his own life goals, in this position may feel too tired to do, he has his own ideas, he is willing to own their own personal lives to live more .
Follow Tiger olfactory micro-channel public network number (huxiu_com, timed push, welfare and more exciting interactive
www.get-top-news.com Get Top News, Latest News and Current News from get-top-news.com. Latest Current News: U.S., China, World, Entertainment, Health, Finance, Business, echnology, Travel, Politics, Sports.Traditional Chinese: 王健林：有萬達在，上海迪斯尼20年難盈利
- Bond technology controlling shareholder of convertible exchangeable bonds into the
May 23, 2016
- "Recommended stocks division," said Fudge investors: according to the script loaded Masters monthly income of 200,000
May 23, 2016
- The first three new board Warren: I want to buy 1000 shell I have redeemed three new board
May 23, 2016
- Jiangsu intends to increase 600 million yuan to 7.571 billion yuan for housing support local government debt
May 23, 2016
- State Administration of Quality Supervision, Inspection and Quarantine Quality Management Division
May 23, 2016
- Hongshan District of Wuhan Municipal Committee related cases involved in urban renewal
- Bond technology controlling shareholder of convertible exchangeable bonds into the
- Automotive Vocational School Occupation construction of key characteristics of professional institutions in the national competition awarded medals
- Taiwan Defense responsible person called does not support "Taiwan independence" remarks were ordered to withdraw
- Transition of Hunan Vocational Education: force to break the bottleneck of employment promotion (Figure)
- The introduction of the city's industrial pig farming project total investment of 1.6 billion yuan
- Beautiful half tie hair tutorial temperament goddess is so Tempered
- 2016.5.23 premarket review and forecast
- Changjiang Securities: Wait for a strong rebound in stock Budie opportunity this year will be crucial Opening
- * ST Jinrui transition fully licensed financial holding platform is eligible for financial assets Note 18.3 billion
- The Last of Us 2 users design concept map
- China (Tianjin) Free Trade Experimental Area Welcome!
- May 19, 2016 in Tianjin plate latest price quotes
- William Kate go to visit India may not have seen gorgeous Kate
- Nanzhang PV illuminate the road out of poverty