Wang Jianlin’s New Direction: "Abandon the Heavy and Reduce the Light", Reconstructing the Cultural Tourism Map

Image source: ICphoto

Although there is still uncertainty about the listing at the end of the year, it has not affected the normal operations within Wanda Group.

Blue Whale Finance found through the official website of Wanda Group that since the beginning of this year, Wanda Group Chairperson Wang Jianlin has led a team to reconstruct the cultural tourism map in many places across the country, and has signed strategic cooperation with the governments of Luoyang, Henan, Deyang, Sichuan, Zhangjiajie, Shanxi Datong, Yichun, Heilongjiang, and other places to cooperate around the cultural tourism industry.

On August 3 this year, Wanda Group announced through its official website that it would rename its Wanda Cultural Group to Wanda Cultural Tourism Group. Blue Whale Finance recently learned from people close to Wanda that, unlike previous cultural tourism projects, the future Wanda Cultural Tourism will "abandon the weight and lighten the weight". Like Wanda Plaza, asset-light cultural tourism is the main direction.

Restart the cultural tourism industry

According to Wanda Group’s official website, Wanda currently includes business management groups, cultural tourism groups and investment groups. Among them, the business sectors of the cultural tourism group, in addition to film and television, sports, and baby king, there are also four cultural tourism projects and cultural tourism planning and design institutes. The four cultural tourism projects are Changbai Mountain International Resort, Wuhan Central Cultural District, Lanzhou Wanda City, and Yan’an Red Street.

The above-mentioned sources told Blue Whale Finance that Wanda Cultural Tourism is a business sector that Wang Jianlin has always wanted to do. After selling Wanda Cultural Tourism to Sunac, Wanda has not stopped expanding its cultural tourism projects.

In February this year, Wanda established a comprehensive strategic cooperative relationship with Luoyang, and took the Longmen Tourist Resort project in Luoyang as the first major cooperation project. On April 10, Wanda signed a contract with Sichuan Deyang for the Sanxing Lake Wanda five-star hot spring resort hotel and international cultural tourism project. On April 12, Zhangjiajie Tourism Group announced that it signed a strategic cooperation framework agreement with Wanda, and the two sides will cooperate on the Dayong Ancient City project. In June, Wanda signed a comprehensive strategic cooperation agreement with the Datong Municipal Government and Datong Cultural Tourism Investment Group respectively, mainly on the cooperation of Datong Ancient City. In August, Wanda signed a strategic cooperation agreement with the Yichun Municipal Government and Yichun Sengong Group to plan in-depth cooperation in the cultural tourism industry and other fields.

In addition, since the beginning of this year, Wang Jianlin has led a team to visit many places and exchanged discussions with local governments, including Pinggu District, Beijing, Changchun, Jilin, Libo County, Qiannan Buyi and Miao Autonomous Prefecture, Guizhou, and Suqian, Jiangsu. This year’s August-September is particularly concentrated.

According to the official website of the Yichun Municipal Government, on August 16 this year, Sui Hongbo, Secretary of the Yichun Municipal Party Committee, met with Wang Jianlin, Chairperson of Dalian Wanda Group, and the two sides exchanged ideas on cooperation in cultural tourism and other fields. Wang Jianlin said that Wanda will give full play to the successful experience in the development of the cultural tourism industry accumulated over the years. Relying on Yichun’s valuable resources and the upcoming high-speed rail era, it will actively plan for cooperation between the two sides, strengthen planning and design on the "ice and snow", and do a good job in innovative articles.

According to the official website of the Beijing Pinggu District Government, on August 26 this year, Pinggu District and Wanda Group held a symposium. Tang Hailong, Secretary of the Pinggu District Party Committee, hoped that Wanda would actively participate in the construction of the "Pingyu dual-use" rural revitalization Jinhai Lake core area. Wang Jianlin said that Wanda would give full play to its own advantages in cultural tourism, hotel operations, etc., and select a representative, exemplary and leading project group as soon as possible to study and formulate a planned operation plan to help the construction of the "Pinggu dual-use" core area with practical actions.

According to the official website of the Suqian Municipal Government, on September 5 this year, Chen Zhongwei, Secretary of the Suqian Municipal Party Committee, met with Wang Jianlin, Chairperson of Wanda Group, and Wang Jianlin said that Wanda Group will give full play to its own advantages, rely on Suqian’s superior ecological resources, and further increase cooperation in areas such as cultural tourism.

"Cultural tourism industry" is a common keyword mentioned by local governments and Wanda.

Wanda Tourism Industry was established in October 2013 and belongs to Wanda Culture Group. In 2014, Wanda Tourism revenue was only 7.50 billion yuan, but by 2016, Wanda Tourism revenue had reached 17.43 billion yuan, an increase of nearly 40% year-on-year.

Wanda’s tourism brand "Wanda City" has not only opened one after another across the country, but also began to enter overseas, signing two large-scale cultural tourism projects in India and Paris in 2016. Wang Jianlin said at the time that by 2025, 25 Wanda Cities will be opened worldwide, of which 5 will be opened overseas. "First, it is possible to gradually accumulate and become a leading brand in terms of business scale."

However, in 2017, due to financial problems, Wanda transferred 91% of the shares of 13 cultural and tourism projects to Sunac for 43.844 billion yuan, which was called "M & A of the Century".

It was the industry consensus at the time that Wanda would give up the cultural tourism industry, but Wanda said in a subsequent statement: "As China’s earliest pioneer in the cultural tourism industry, Wanda has always been optimistic about the development prospects of China’s cultural tourism industry. In the future, Wanda will continue to invest in the cultural tourism industry. Its cultural tourism group (including planning, construction and project management departments) will continue to be an important industrial group of Wanda for sustainable development."

Wanda said that it will continue to invest in the cultural tourism industry in the future, retain the backbone team of the cultural tourism industry, and reorganize the Cultural Tourism Planning Institute, Cultural Tourism Construction Center, and Cultural Tourism Management Company.

From the start of the Changbai Mountain cultural tourism project a decade ago, Wanda has never given up its ambition to expand the cultural tourism industry. The above-mentioned person familiar with the matter said that, unlike the previous "land acquisition-development" asset-heavy model, Wanda’s future cultural tourism industry will be mainly asset-light operation. "The land is still owned by the local government, and Wanda only manages and operates and exports brands."

It is reported that Wanda Neijiang Cultural Tourism City, located in Sichuan, is scheduled to open at the end of this year and will become an important tourist destination in Chengdu and Chongqing and a new business card for Neijiang City.

Whether it will go public at the end of the year is still up in the air

For enterprises, the asset-light model will undoubtedly greatly reduce the pressure on capital.

According to Wanda’s official website, as of December 31, 2022, 473 Wanda plazas have been opened across the country, and Blue Whale Finance has learned that half of them are asset-light projects. In addition, at the end of this month, Beijing will open two more Wanda plazas at the same time, both of which are asset-light projects.

On August 31, Wanda Commercial Management disclosed that the interim report of corporate bonds showed that the operating income in the first half of 2023 was 25.452 billion yuan, an increase of 4.30% year-on-year; the gross profit margin was 64.63%, an increase of 1.53 percentage points year-on-year.

Among them, the hotel operating business revenue rose the most significantly, up 103.84% year-on-year, with gross profit margin increasing by 17.67 percentage points. Other business revenue rose 3.05%, and gross profit margin increased by 2.1 percentage points.

Wanda Commercial Management plans to spin off the listed subsidiary Zhuhai Wanda Commercial Management’s total assets are 22.886 billion yuan, net assets are 7.233 billion yuan, the operating income during the reporting period is 27.12 billion yuan, and the main business profit is 12.984 billion yuan.

The net cash flow generated by Wanda Commercial Management’s operating activities in the first half of the year was 11.852 billion yuan, an increase of 41.6% year-on-year. The balance of cash and cash equivalents as of the end of the first half of the year was 14.692 billion yuan. As of the end of the first half of the year, Wanda Commercial Management’s consolidated interest-bearing liabilities were 141.283 billion yuan, of which the interest-bearing liabilities due within one year were 29.257 billion yuan.

After experiencing a period of debt repayment pressure, Wanda also ushered in good news. On September 12, a domestic debt "200,000 01" repo bond owned by Wanda Commercial Management has been repaid. The repo payment amount is 3.79 billion yuan, which is close to the full repurchase.

According to the announcement of Wanda Commercial Management, the bond code 175119, the issuance scale is 3.80 billion yuan, the bond maturity is 5 (3 + 2) years, the coupon rate is 5.58%, the issuance start date is September 7, 2020, and the maturity date is September 9, 2025 9 (postponed in case of holidays), but in the third year, that is, when it expires in 2023, the issuer has the option to adjust the coupon rate and the investor’s right to sell back.

The person close to Wanda said that after the completion of the bond sale and payment, Wanda Commercial Management has no public overseas debt maturity risk this year. "Wanda’s business model is very clear, the return on assets is expected to further improve, and there is little pressure on public market debt in the next few years."

However, whether Zhuhai Wanda Commercial Management can go public smoothly at the end of this year remains unresolved and remains the biggest hurdle facing Wanda.

Urumqi Volvo XC60 new energy is on sale! The maximum discount is 140 thousand, and the quantity is limited

Recently, car home Urumqi preferential promotion channel has brought you a wave of good benefits! Now, the price reduction promotion is being carried out in Urumqi, with the highest discount as high as 140,000 and the lowest starting price of 390,900. If you are interested in this luxury SUV, you may wish to click "Check the price of the car" in the quotation form to get a higher discount. As a hybrid vehicle, Volvo XC60 New Energy has a good performance in terms of power and energy saving, and has a luxurious and comfortable driving experience, which is worthy of attention. Act quickly and seize this preferential opportunity!

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Volvo XC60 New Energy is a luxury medium-sized SUV, and its design is highly recognizable. The front face adopts a unique Volvo family-style design, and a large area of chrome-plated decorative strips makes the whole car look more exquisite. The air intake grille is hexagonal in design, and the interior is decorated with transverse decorative strips, which are integrated with the "T"-shaped daytime running lights on both sides to make the whole front look wider. The body lines are smooth, and the overall style is simple and atmospheric, highlighting Volvo’s consistent Nordic style. The side of the car body uses smooth lines to outline the slender outline of the car body, while the luggage rack on the roof and chrome trim above the window also increase the fashion sense of the car. The tail design adopts Volvo’s family-style "L"-shaped taillights, which are matched with two exhaust pipes on both sides, showing the sporty atmosphere of XC60 new energy. Generally speaking, the design of Volvo XC60 new energy not only keeps Volvo’s simple atmosphere, but also incorporates fashion elements, showing the style of luxury medium-sized SUV.

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Volvo XC60 New Energy has a body size of 4708*1902*1656 mm, a wheelbase of 2865 mm, a front tread of 1649 mm and a rear tread of 1653 mm.. The body lines are smooth, the overall shape is fashionable and atmospheric, the front face design is simple and exquisite, and the side lines of the body are simple and smooth, showing a beautiful curve and a strong sense of lines. Tyre size is 255/45 R20, and the rim style is exquisite, which complements the car body. The overall design is exquisite and elegant, showing the consistent low-key luxury style of Volvo brand.

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The interior design of Volvo XC60 New Energy is simple and fashionable, made of high-quality materials, creating a comfortable and luxurious driving experience. The steering wheel is made of genuine leather, which feels comfortable and supports manual adjustment up and down and back and forth, so that drivers can easily find the driving posture that suits them best. The 9-inch central control screen has a moderate size and is equipped with a voice recognition control system, which can easily operate multimedia, navigation, telephone and air conditioning functions. Both the front row and the back row are equipped with two USB/Type-C interfaces, and the front row also has the function of wireless charging of mobile phones, which is convenient and practical. The seat is made of leather, and the main and co-pilot seats support front and rear adjustment, backrest adjustment, height adjustment, leg rest adjustment and lumbar support, so that both drivers and passengers can get the best comfort experience. In addition, the front seats also have heating function, and the co-pilot seat and the driver’s seat also have electric seat memory function, which is convenient for different drivers to use. The rear seats are laid down in proportion, which can be adjusted flexibly as needed to increase storage space. In a word, the interior design and configuration of Volvo XC60 New Energy are very humanized, providing a comfortable driving experience for drivers and passengers.

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Volvo XC60 New Energy is equipped with a 2.0T 310 HP L4 engine with a maximum power of 228 kW and a maximum torque of 400 N m.. Equipped with an 8-speed automatic transmission, it can provide a smooth shift experience and efficient power output. This engine not only has strong power performance, but also has excellent fuel economy, which can meet the dual needs of drivers for driving performance and energy saving and environmental protection. At the same time, the engine of Volvo XC60 New Energy also adopts advanced technology and design, which makes it perform well in noise and vibration and bring drivers a more comfortable driving experience.

In the design of Volvo XC60 new energy, we can see the family-style big mouth grille, the LED headlights of Raytheon Hammer and Viking Axe, which undoubtedly add a lot of beauty to the vehicle. As the owner of car home said, the design of this model is tough and unforgettable. The design of Viking Axe is inspired by the ancient Nordic mythology. Incorporating it into the design of headlights not only enhances the recognition of vehicles, but also makes the whole front face more refined. The hammer of Raytheon is more domineering, making the vehicle more eye-catching when driving. The integration of these design elements not only makes Volvo XC60 new energy unique in appearance, but also shows the unique temperament of the brand. Whether on urban roads or mountain roads, Volvo XC60 new energy can become a beautiful landscape in people’s eyes.

From Chongqing to Mount Everest, the proportion of intelligent driving is 91%, and the official announcement of Aouita has made NCA a success!

At the beginning of October, 2023, the HarmonyOS edition of Aouita 11 launched the "Intelligent Driving Everest Challenge". The total mileage is over 3,376 kilometers, and the altitude difference is as high as 5,000 meters. It took 9 days. Aouita 11 HarmonyOS Edition climbed six mountains with a height of more than 4,000 meters, crossed rivers and rivers, broke through the obstacles of complex terrain, and successfully reached the Everest Base Camp, with a total mileage of 91%.

Obviously, this 3,376-kilometer route from Chongqing to Mount Everest uses a smart driving without high-precision maps. Because at present, only six cities, namely Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou and Chongqing, have opened the pilot application of high-precision maps, and only Guangzhou, Shenzhen and Shanghai have relatively complete high-precision maps. The whole journey from Chongqing to Everest is almost out of the coverage of high-precision maps.

What is the specific performance of 91% of the smart driving?

This challenge began in the mountain city of Chongqing, where there are many cliffs, unpaved roads and thousands of turns, and the road conditions can be described as difficult and dangerous; In addition, unpredictable and complicated situations such as pedestrians or animals passing through, accidents occupying roads, construction road closures, falling rocks and landslides, and high-frequency rainy and foggy weather may occur along the way. These factors jointly construct the "hell-class" working condition of intelligent driving, which extremely tests the capacity limit of intelligent driving system.

Facing the "all-black tunnel", Aouita 11th HarmonyOS Edition has the strength to cope with the situation of occupation of roads, sudden change of light and shade, no lane line and slippery road surface, and has repeatedly taken the initiative to avoid lane change and take over the tunnel construction in the all-black environment of 3 kilometers, so as to truly see clearly, judge accurately and control stably.

Thanks to Huawei’s advanced intelligent driving system ADS 2.0, Aouita 11 has applied BEV fusion sensing algorithm and GOD network based on lidar, which has superior environmental awareness; Even if it passes through the 20-kilometer gravel road in Nujiang Gorge, or even the muddy road without the basic shape of the road at all, the intelligent driving system can still accurately identify the road edge and automatically plan the drivable area, which can be called "both good roads and bad roads can be opened".

In the face of the "Nujiang 72 Turn", the performance of the intelligent driving system is still steady and calm. With strong road perception accuracy and accurate dynamic target tracking ability, Aouita 11 HarmonyOS Edition can automatically slow down before entering the curve and speed up before leaving the curve like an "old driver", and can flexibly avoid the opposite car, and take over the continuous curve with a safe passage of 16 kilometers.

In response to all kinds of dynamic/static, standard/abnormal obstacles on the road, Aouita 11 HarmonyOS Edition has achieved 100% automatic avoidance, and achieved 100% safety with zero mistakes.

According to statistics, the average driving speed of Aouita 11 HarmonyOS version reached 62km/h, the driving power consumption per 100 km was 14.69kWh, and the battery life of "one box of electricity" was 535 km, showing the far-ahead intelligent driving ability and solid and reliable endurance level.

In September, Aouita said that its intelligent driving mileage exceeded 17 million kilometers. After this hellish test, the steady intelligent driving performance of Aouita 11th HarmonyOS Edition in the "Intelligent Driving Challenge" once again confirmed that it has become a map-free NCA, and it is capable and necessary to open it to users in Aouita. Therefore, on October 9th, Aouita announced that it would gradually open the map-free NCA, which would realize intelligent driving without relying on high-precision maps. The specific opening steps are as follows: No map NCA will complete the delivery according to the progress of 6 cities -16 cities-nationwide, and the intelligent driving function of expressway-urban area-parking will be realized nationwide by the end of 2023.

Li Pengcheng, vice president and chief marketing officer of Aouita Science and Technology, said: "From horse-drawn carriages to cars, from refueling to charging, from self-driving to intelligent driving, human travel modes have never stopped evolving; Today, Aouita, as a pioneer, has opened up a new way to enter Tibet, bringing users a more relaxed, labor-saving and green travel experience, which is also the greatest value of this intelligent driving of Mount Everest. "

The Sichuan-Tibet Highway in the "no-brainer’s zone" challenges the intelligent driving without a map, and achieves 91% of the intelligent driving results, which proves that Aouita’s intelligent driving NCA can be developed to users on a large scale, and also proves that Huawei’s ADS 2.0 intelligent driving strength is really superior, and the intelligent driving ability of Aouita 12 HarmonyOS version will also be a big selling point in the future.

China will hold another world-class competition in 2021, and the venue will be Shanghai!

  CCTV News:On October 13th, the general meeting of all members of World Skills Organization held in Abu Dhabi, United Arab Emirates unanimously decided that the 46th World Skills Competition will be held in Shanghai, China in 2021.

  World Skills Competition is the highest-level world vocational skills competition, known as "World Skills Olympics", and its competitive level represents the world’s advanced level of vocational skills development in various fields. A country’s achievements in the World Skills Competition can reflect its technical skills development level to a certain extent.

  △ Shanghai successfully bid for the 46th World Skills Competition.

  Shanghai bid slogan: "New youth, new skills, new dreams"

  The bidding slogan put forward by China Shanghai this time is "New Youth, New Skills, New Dreams", which conveys the concept of "Skills Change Life and Realize Dreams" to the world. After Shanghai’s successful bid, Ministry of Human Resources and Social Security sent a congratulatory message, saying that holding the World Skills Competition in China is of great significance for strengthening the construction of skilled talents in China, promoting the spirit of artisans, and creating a good atmosphere of respecting labor and advocating skills in the whole society.

  Approved by the State Council, in October 2010, the Ministry of Human Resources and Social Security applied for and formally joined the World Skills Organization on behalf of the China Municipal Government. After that, China participated in three consecutive World Skills Competitions, and accumulated 5 gold medals, 8 silver medals, 7 bronze medals and 29 winning prizes. On October 7, 2016, China, the representative of the Ministry of Human Resources and Social Security, announced his intention to bid for the 46th World Skills Competition in 2021 at the 2016 World Skills Organization Conference, and launched Shanghai as the host city.

  The World Skills Competition, currently held every two years, is called the "Olympics" in the field of skills. It is an important platform for members of the World Skills Organization to display and exchange their professional skills.

  The World Skills Competition is divided into six categories, namely, structure and building technology, creative art and fashion, information and communication technology, manufacturing and engineering technology, social and personal services, transportation and logistics, with a total of 46 competitions. Specifically, the competitions include aircraft maintenance, automobile maintenance, welding, painting, floral design, graphic design, offset printing, pastry making, jewelry processing, cooking and even hairdressing. For example, in this year’s skills competition, the average age of the contestants in China is less than 21 years old. The youngest is Pan Shenhan, an 18-year-old floral project player, and the oldest is Gao Yunan, a 25-year-old manufacturing team challenge project player.

  In the 43rd World Skills Competition in 2015, 32 Chinese athletes won 4 gold medals, 6 silver medals, 3 bronze medals and 12 winning prizes in 29 events, achieving a breakthrough in gold medals.

  "My dream is to win the gold medal in the World Skills Competition, and my efforts have not been in vain." Zeng Zhengchao, who won the welding project championship at the 43rd World Skills Competition, said.

  It is understood that the welding competition has heavy tasks and high intensity. During the four-day competition, four modules, namely, single piece welding, low carbon steel pressure vessel, aluminum alloy structural parts and stainless steel structural parts, need to be completed within 18 hours. This poses a great challenge to the physical strength and perseverance of the contestants.

  The organizing mechanism of the World Skills Competition is similar to the Olympic Games. After being applied by the members of World Skills Organization and approved, the World Skills Competition was held in cooperation with the organizers under the guidance of World Skills Organization.

   In 1946, in order to encourage young people to develop their vocational skills, Mr Olaso, president of the Spanish National Youth Organization, put forward the idea of gathering skilled workers from all walks of life to compete. In 1947, he successfully organized a competition in Spain with more than 4,000 apprentices, which became the embryonic form of the World Skills Competition. In 1950, the World Skills Organization was formally established, initiated by Spain and Portugal, and held the first World Skills Competition. At that time, only skilled workers from Spain and Portugal participated. Since then, the influence of the World Skills Competition has gradually expanded. In 1953, at the invitation of Spain, young people from Germany, Britain, France, Morocco and Switzerland also joined the competition. Since then, the World Skills Competition has been held in many countries. It first came to Asia in 1970 and was held in Tokyo, Japan. The influence of the World Skills Competition has further expanded.

  At present, the World Skills Organization has 77 formal countries and regions. On October 7th, 2010, China officially joined the World Skills Organization, becoming the 53rd member of the organization.