This small town in online celebrity has brought new ideas on the road to poverty alleviation in Guizhou.

  On July 2nd, the second anniversary of the opening of Wanda Town in Danzhai, Guizhou Province. The picture shows Dong compatriots singing Dong songs for tourists in this town. Xinhua News Agency reporter Ou Dongyu photo

  July 2nd is the 2nd anniversary of the official opening of Wanda Town in Danzhai, Guizhou. In the past two years, this town has received more than 11.5 million tourists, which has driven more than 700 poor households to find jobs. Relying on this small town in online celebrity, Wang Jianlin, the chairman of Wanda Group, has also achieved his own "small goal" in Guizhou: to make a profound change in the face of Danzhai, a national poverty-stricken county, and to get rid of poverty two years ahead of schedule.

  Danzhai Wanda Town is the core industrial project of precision poverty alleviation in Danzhaibao County, Wanda. The data shows that over the past four years, Wanda has donated a total of 2.1 billion yuan in Danzhai, creating a tax revenue of 270 million yuan together with the local area, driving the GDP growth of Danzhai County by 1.2 percentage points every year. 56,500 poor people in the county have been lifted out of poverty, and the incidence of poverty has dropped to 1.63%. In April this year, the Guizhou Provincial People’s Government officially approved Danzhai County to withdraw from poverty-stricken counties.

  At the on-site promotion meeting of social poverty alleviation innovation work held on the same day, China Academy of Social Sciences released the evaluation report of innovative poverty alleviation projects in Danzhai, and thought that the local poverty alleviation model of "enterprises covering counties and getting rid of poverty as a whole" was reproducible.

  Enterprise Baoxian strives to benefit more than 90% of poor households.

  In 2014, the State Council issued a notice to further mobilize all social forces to participate in poverty alleviation and development, advocate private enterprises to help the poor and deepen the designated poverty alleviation work.

  In September of that year, Wanda Group decided to participate in poverty alleviation in Guizhou Province, and conducted a week-long investigation with the State Council Poverty Alleviation Office and Guizhou Province. According to the three criteria of "national poverty-stricken counties", "remote mountainous areas" and "ethnic minority areas", it finally chose Danzhai County in Qiandongnan Prefecture as Wanda’s assistance target.

  Danzhai, located in southeastern Guizhou, is a national key poverty alleviation and development county with karst mountainous areas and Miao population as the main population. As of 2013, the poverty-stricken population in Danzhai was 51,300, of which 84.78% were located in remote mountainous areas. However, even by 2015, there are still 4.93 million poor people in Guizhou Province, ranking first in the country. There are 66 poverty-stricken counties, 190 poverty-stricken townships and 9,000 poverty-stricken villages in the province, and the poverty level and the arduous task of getting rid of poverty are obvious.

  On December 1, 2014, Wanda Group and Danzhai County signed a 1 billion yuan poverty alleviation agreement in Guiyang. Wang Jianlin put forward the model of "enterprises package counties and get rid of poverty as a whole", which was later called "the first in China", that is, contracting a county to do industrial poverty alleviation, focusing on "giving people a job to fish", and striving to benefit more than 90% of poor households, with the goal of getting rid of poverty in the county in 2018.

  Wang Jianlin publicly stated that Wanda regards poverty alleviation as a new historical mission entrusted to enterprises in the new era and regards it as the best embodiment of corporate social responsibility.

  Helping the poor through tourism to build a well-known town of online celebrity Wenlv.

  Wanda transferred 151 people from all over the country to form a capable team to settle in Danzhai, responsible for helping the specific implementation of the project.

  At the beginning, Wanda took pig raising, tea and rice as the first choice industries for poverty alleviation, and planned to build 300,000 pig farms and processing plants in Danzhai, so that poor farmers could get dividends by participating in shares for free. After national market research, especially in-depth research on several major aquaculture enterprises, Wanda’s help team found that the pork market fluctuated greatly, and it was difficult to ensure stable income for poor households to pay dividends.

  The tea planting scale is limited, and the output can’t meet the demand. Selenium and zinc rice can’t support an industry because of too little cultivated land. After a year’s investigation and more than 70 research reports, traditional projects have been rejected by the help team one after another, and there is not much substantial progress in poverty alleviation, so that the outside world once doubted Wanda’s sincerity in helping.

  Danzhai has beautiful scenery and rich Miao and Dong customs. Can tourism be used as a breakthrough for industrial poverty alleviation? In the face of the current situation that there are no mature tourist attractions, after repeated discussions, it is decided to build a tourist town as the leading tourist poverty alleviation in Danzhai. At the same time, Wanda’s assistance funds for Danzhai have also increased to 1.5 billion yuan.

  Wanda Town came into being and started construction on May 1, 2016. The site is located at the core of Danzhai County, near the East Lake, covering an area of 400 mu. Now, a small town with Miao and Dong characteristics has been built in the once barren land. Drum tower, long street and suspension bridge have unique scenery, and there are all kinds of special projects such as ancient papermaking, Miao medicine, batik and bird cage. The investment of 800 million yuan is a bit "dwarfed" compared with those cultural tourism projects that cost billions and billions.

  Peng Yao, member of the Standing Committee of Danzhai County Party Committee and Minister of Propaganda Department, said that in the two years since its operation, Wanda Town has achieved a spurt growth in tourists, with a total of more than 11 million visitors, with a maximum of 126,300 visitors per day and an average of 12,000 visitors per day, driving the county’s comprehensive tourism income of 5.52 billion yuan. In particular, through stabilizing employment, tourism consumption, and radiating rural tourism, more than 17,000 poor people have increased their income, which has effectively boosted Danzhai County’s poverty alleviation.

  In the 2018 ranking of China’s characteristic towns, Wanda Town has sprung up suddenly, ranking second, second only to "Wuzhen", where Rene Liu has come and gone, and has become a well-known town in online celebrity.

  There are activities every week, and there are themes every month, especially for young people, and a variety of online activities are carried out to make the town a small town in online celebrity and a holy place for punching cards; Invite a famous person from home and abroad to be the mayor of the town every week, so that they can all become the spokesmen of Danzhai, and use their personal influence to continuously promote and publicize the town. The rotating mayor has a good response around the world and won world-class creative awards such as Cannes and effie awards, which has introduced a lot of "traffic" to Wanda Town; In order to increase the time for tourists to stay in the town, the town has built a large-scale Miao song and dance show "Jinxiu Danzhai", which has been performed all the year round, and built a hot spring resort hotel. Together with the world’s top exploration companies, it has played hot springs in areas that are considered to have no hot spring mines, making the town’s off-season not light.

  Three-dimensional assistance to "education, industry and fund"

  Considering that getting rid of poverty is not only a time-critical task, but also a long-term mechanism. According to the characteristics of Danzhai County, Wanda has designed a long-term, medium-term and short-term poverty alleviation mechanism. Specifically, it is the "Danzhai model" that is familiar to ordinary people in Danzhai County, with poverty alleviation through tourism as the main direction and "education, industry and fund" simultaneously.

  The short-term project is to donate 500 million yuan to establish the Danzhai Poverty Alleviation Industrial Fund, to help people with special difficulties, to help poor farmers develop their industries, and to solve the employment of poor households in public welfare posts; The medium-term project is to use the tourism industry to promote the all-round development of Danzhai and completely help the transformation and upgrading of Danzhai’s economic structure; The long-term project is to donate 300 million yuan to build Guizhou Wanda Vocational and Technical College. Wanda promises to recruit 50% graduates to work in Wanda every year, and fundamentally block poverty through education.

  Up to now, Wanda has invested 2.1 billion yuan in Danzhai, and the results achieved are "fundamentally changing the face of Danzhai and taking off the hat two years ahead of schedule".

  "Wanda Danzhai poverty alleviation has been highly praised and widely praised by all parties, providing a demonstration case for enterprises in China and even the world to carry out poverty alleviation work." Peng Yao spoke highly of this.

  China Academy of Social Sciences pointed out in the evaluation report of innovative poverty alleviation projects in Danzhai that Wanda used its own resources and advantages to help the whole county in Danzhai get rid of poverty and promote the county economic development, which has high social value and public welfare. Its poverty alleviation project design is "trinity", taking short-term, medium-term and long-term considerations into account, and it is leading and forward-looking among all kinds of precision poverty alleviation projects in China, and its poverty alleviation model has strong reference value and reproducibility.

Evening News: Steam’s Love Award Nominated Ubisoft for Winter Promotion.

  Hello, everyone, the busy day will be over again. We have compiled the highlights of the day for you in the evening paper for your quick review.

1. The nomination of the Steam Love Award was announced, and "DOTA 2" and "GTA5" were shortlisted.

  Steam today announced the nominations for the 2019 "Giving Love" Awards, including StarCraft Armor, Rainbow Six: Siege, CS: GO, GTA5 and DOTA2.

  Interpretation of "Giving Love" Award: This game has been launched for some time. The game team has already passed the stage of creative achievements. But they are excellent parents who continue to nourish and support their creativity. Even after so many years, until today, the game is still constantly introducing new content.

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2. Tencent sci-fi shooting "The Edge of Rebirth" was put on the shelves, and Steam was the main PVPVE.

  The sci-fi strategy shooting game "Edge of Rebirth" produced and distributed by Tencent’s NEXT Studios was put on the shelves of Steam, and the release date was not fixed. The Steam page showed "Coming Soon".

Wandering stars

  Edge of Rebirth is a sci-fi strategy shooting game in the near future. Players need to face threats from enemies and nanohumans in a world on the verge of collapse. Edge of Rebirth skillfully combines PVP and PVE through "control" elements, redefining the overall gameplay of PVPVE.

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3. Nintendo Hong Kong Service eShop officially debuted: you can shop directly and get points.

  The Hong Kong service eShop was updated today, and the official brought the details of this update, including "using the balance of Nintendo eShop to buy/join", "My Nintendo Gold Points", "Nintendo Switch Online" and "putting three prepaid cards of HK$ 100/300/500 on the shelves", etc. For details, please enter the original text!

Wandering stars

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4. The short list of the Oscar for Best International Film Award announced that Ne Zha was not selected.

  The short list of the 92nd Academy Awards has been updated in https://www.oscars.org/oscars/92nd-oscars-shortlists, official website, which includes the list of the best international film award (formerly the best foreign language film). However, Ne Zha’s "Anti-drug 2: Heaven and Earth" and "Who fell in love with him first" were not selected.

Wandering stars

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5, "succubus" new preview enchanting succubus vs deformed monster

  Agony Game released a new preview of succubus, showing a new enemy, and at the same time, they announced that the book had started closed testing.

Wandering stars

  In the game, you need to play the succubus Vydija, take revenge in hell with excellent and unique skills, take back your kingdom and destroy all those who don’t want to submit.

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6. Before League of Legends, SKT supervised kkOma to join VG and led SKT to win the championship three times.

  Weibo, the official of League of Legends Branch of VG E-sports Club, announced that former SKT supervisor kkOma has joined VG. KkOma has led SKT to win the S championship three times, and his coaching ability is first-class.

Wandering stars

  In addition, through friendly communication between VG Club and players, Zhao Audi (ID: AODI) and Zeng Xianxin @VG Wandering (ID: YOUDANG), the single player in VG League of Legends Division, officially terminated their contracts with VG and have now left the team.

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7. Iqiyi responded to Joy of Life’s on-demand: I want to meet the diverse needs of users.

  Tencent Video and Iqiyi are controversial because of the advanced on-demand mode for the hit drama Joy of Life. In this regard, Ying Dai, vice president of iQiyi and general manager of the self-made drama development center, responded after the fourth annual summit of new entertainment and new consumption in China in Sansheng 2019. She said that the content of the video platform is becoming more and more diverse, and the needs of users are becoming more and more diverse. "Our original intention is to meet users’ more diverse content needs, but it may not be done well. In the future, we hope to take more account of users’ psychology and do a good job in the design and notification of scheduling."

Wandering stars

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8. M Station selected the ten games with the lowest score in 2019. Did you step on the thunder this year?

  Metacritic recently selected ten game works with the lowest scores in 2019. I hope that everyone will not step on the thunder this year, and some of them will be bypassed in time in the future. (Selection rule: if the number of media scores is less than 7, it will not be included in the statistical range, and the platform with the lowest score will be selected for multi-platform game works.)

Wandering stars

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9. Ubisoft launched the gold edition of Ghost Action: Breakpoint with a 55% discount and a special price of 269 yuan.

  Ubisoft Store launched a winter festival promotion today, which will last until January 2 next year. During the special period, players can buy a variety of excellent works of Ubisoft at preferential prices. Let’s get to know each other.

Wandering stars

  In this activity, the gold version of Ghost Action: Breakpoint is 55% discounted, and only 269 yuan (the original price is 598 yuan) after the discount, and the digital ultimate version of Assassin’s Creed: Odyssey is 65% discounted, and the price after the discount is 167 yuan. In addition, the discounts of Assassin’s Creed: Origin and Cry of the Island 5 are as high as 75%, which is quite attractive.

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  Here are the happy hours today!

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Zodiac and cats

Er Ya Yi said, "Cats are the fiercest of small animals. Yin and fear of cold, although lying in the middle of the summer is not afraid; The nose is cold and wet at all times, but it is warm at the summer solstice. If the eyes are fixed in the morning and evening, the day will be like a line, and if it is cloudy, it will be demobilized. After catching rats, its ears are missing like saws, such as tigers eating people and sawing ears. If you wash your face, you will win. " Cats are pets of countless families in today’s cities, and there are countless photos of cats in MengMeng when you open the webpage, which is very cute! In that case, why is it not in the zodiac?

Liang Kai in Southern Song Dynasty’s "The Picture of a Bee and Butterfly Playing Cat" (partial)

There is a saying that there were no cats in our country when the zodiac was scheduled. It was only in the Han Dynasty that this animal was introduced from Egypt, so it is impossible to have cats in the zodiac. So was there a cat in China before the Han Dynasty? Is the cat native to China or imported from abroad?

The selection and arrangement of the zodiac is to compare each animal with people and select 12 animals with specific defects as zodiac signs. Rats have teeth and no teeth, cows have no teeth, tigers have no spleen, rabbits have no lips, dragons have no ears, snakes have no feet, horses have no guts, sheep have no pupils, monkeys have no hips, chickens have no kidneys, dogs have no stomachs, and pigs have no tendons. Naturally, such defects are symbolic, but people do not have these defects. When the sages chose twelve kinds of animals as zodiac signs, they didn’t take the biological characteristics of these animals as the necessary basis. For example, the dragon in the zodiac is not found in the real animal world. The reason why it was also selected into the zodiac is that our sages deified the dragon.

Except snakes, the chronological order of the zodiac is based on the odd-even number of each animal’s paw. Odd digits of paws are arranged in odd digits, and even digits are arranged in even digits.

Rats have four paws on the front foot and five paws on the back foot, which straddle the boundary of Yin and Yang when they are young. When the night is from 23: 00 to 24: 00, they are represented by four paws on the front foot, and when the sun is born, they are represented by five paws on the back foot, which means that the function of bearing Yin and enlightening Yang belongs to rats, so they are expelled when they are young. Cows are artiodactyls, and ugly steaks are second; Tiger has five claws, odd number, and the third is Yinshi tiger; Rabbits have four claws, even number, and the fourth is Maoshi rabbit; The dragon has five claws, odd number, and the fifth is Chenshilong; Snakes have no feet, but the tongue of snakes is bifurcated into two or even numbers, and the sixth is the fourth snake; Horses have round hooves, round hooves, yin and yang meet and blend, and the anode is cloudy. From 11: 00 to 13: 00 at noon, the yin and yang are evenly integrated, so the seventh place is noon horses; Sheep are cloven-hoofed animals, ranking eighth as untimely sheep; Monkeys are also five-clawed, odd-numbered, ranking ninth as Shenshi monkeys; Chickens are four-clawed, even-numbered, and the tenth is unitary chickens; Dogs have five claws, odd number, and the eleventh is the dog; You Zhu is an artiodactyl animal, ranking 12th as the Herpetus pig. In the year of the Zodiac, heavenly stems and earthly branches is a 60-year cycle, and the earthly branch is the year of the Zodiac.

The above 12 zodiac animals have clearly put tigers in. Perhaps it was not that there were no cats in our country at that time. Cats and tigers belong to the same family, and the tiger patterns are gorgeous and magnificent, which is incomparable to cats. In people’s aesthetics, they must choose tigers instead of cats.

Hu Zaobin’s Gu Ying Proud in the Republic of China

Let’s talk about whether there were cats in ancient China.

The Book of Songs Daya Han Yi says, "Kong Le Han Tu, Chuan Ze, Fu Fu, Fu Lu, Xiong, Hu, cat and tiger." Chapter 40 of Yi Zhoushu’s Interpretation of the World’s Prisoners contains: "The King of Wu was inaugural, and there were two birds and tigers, two cats, five thousand two hundred and thirty-five, two rhinoceroses, one yak, one bear, eight jackals, three hundred and fifty jackals, eight raccoons and six owls."

The Book of Songs, Han Yi, itself is the work of Yin Jifu’s beautiful Xuan Wang, which is about the end of the Western Zhou Dynasty. The titles in Yizhoushu are definitely not written by one person and have different ages. However, Mr. Guo Moruo thinks that only three or two articles in Yizhoushu can be trusted as early Zhou characters in his book A Study of China Ancient Society, and The Interpretation of World Prisoners is one of them, which is the most credible. In the preface to Yi Zhou Shu, Li Xueqin also believed that The Interpretation of World Prisoners was a work in the early Western Zhou Dynasty.

In the poem "Han Yi", domestic cats are so small that they can’t be qualified to be sung in parallel with large mammals such as deer, bears, tigers and leopards. King Wu can’t show off his valor by killing a kitten when hunting. The cats in these two articles are definitely not domesticated domestic cats, but should be bobcats the size of tigers. But at least this article tells us that the word "cat" has been widely used in the pre-Qin period before Han Dynasty and even in the early years of Zhou Dynasty. The animal character "cat" must have been created after the cat first. Shuo Wen Xu said: "Cang Xie, the history of the Yellow Emperor, saw the traces of birds and animals’ hooves, and knew the differences and differences, and he first made a book contract." Xu Shen’s textual research tells us that Cangjie’s characters are made according to birds and animals. The word "cat" came first, and then the word "cat" came out. In the Song Dynasty, Lu Dian explained the mouse cloud: "Rats harm seedlings, and cats can catch them, so cats follow seedlings." This poem also tells us that the seedlings of Chinese farmers have been harmed by rats since ancient times.

"The Book of Songs Xiaoya Datian": "Fuck the moth and its pest, it’s harmless to my field. Tian Zu has a god, and he is burning with fire. " In the Song Dynasty, Luo Yuan wrote in Er Ya Yi: "People are also those who are angry when they go to repel insects and thieves. Those who go to the field of voles are cats and tigers. " And Luo would like to think that cats and tigers are the gods of Tian Zu. Rats kill seedlings and jackals destroy crops. Cats catch mice to raise seedlings, while tigers eat pigs to protect crops (crops that are ripe for storage are called crops). During the week, farmers regarded cats and tigers as grain gods and greeted them with sacrifices. "Book of Rites, Special Sacrifice in the Suburb" contains: "Welcome the cat and eat voles for it; Welcome the tiger and feed it. Welcome and sacrifice. " The Duke of Zhou made rites and made merry, so the cat here is definitely not a bobcat hunting, but a cat that is the natural enemy of rats. This is also the cat of the Zhou Dynasty, but also the cat of China.

(Source: The first issue of Literature and History Knowledge magazine of Zhonghua Book Company in 2023)

Reporting/feedback

Breaking news! WANDA CINEMAS changed hands: The new boss will be the post-80s generation!

On the evening of December 12th, WANDA CINEMAS officially announced that it was no longer Wang Jianlin’s company.

WANDA CINEMAS Co., Ltd. (hereinafter referred to as "the company" and "WANDA CINEMAS", 002739) announced that Beijing Wanda Cultural Industry Group Co., Ltd. (hereinafter referred to as "Wanda Cultural Group"), its wholly-owned subsidiary Beijing Hengrun Enterprise Management Development Co., Ltd. (hereinafter referred to as "Beijing Hengrun"), the actual controllers of the company Wang Jianlin and Shanghai Ruyi Investment Management Co., Ltd. (hereinafter referred to as "Ruyi Investment").Signed the Equity Transfer Agreement,It is planned to transfer 51% equity of Wanda Investment, the controlling shareholder of the company, to Ruyi Investment, with a total transfer price of 2.155 billion yuan.If the above matters are finally implemented,The actual controller of the company was changed to Ke Liming. The company’s shares have resumed trading since the market opened on December 13th, 2023.

According to public information, China Ruyi (HK0136) controls its subsidiaries by agreement, and the latter holds 100% of the actual rights and interests of Shanghai Ruyi, and Ke Liming, Chairman of the Board of Directors of China Ruyi, holds 99% of the shares of Shanghai Ruyi.

China Confucianism was originally named "Hengteng Network", which was composed ofEvergrandeJointly funded with Tencent, afterEvergrandeIn November 2021, Tencent withdrew its capital, and then became the major shareholder of China Confucianism and Italy through three rounds of additional issuance. At present, Tencent Holdings (0700.HK) holds 19.12% shares of China Ruyi through its wholly-owned subsidiary Water Lily.

The withdrawal of real estate leaders from film and television investment and the takeover of Internet giants are also regarded by the industry as a landmark acquisition event in China cinema industry. In the film and television drama industry, China Confucianism and Italian film industry as the main body, to carry out related business development. Although it is not well-known outside the film and television industry, Confucianism and Italian Film also participated in the production of popular films such as "To the Youth We Will Die", A Little Red Flower and Moon Man.

WANDA CINEMAS: Actual controller.

Will be changed to keliming, and the stock will resume trading.

On the evening of December 12, WANDA CINEMAS announced that the company had recently received a notice that Wanda Culture Group, Beijing Hengrun and Mr. Wang Jianlin signed the Equity Transfer Agreement with Ruyi Investment, which they intend to hold respectively.Wanda Investment holds 20%, 29.8% and 1.2% equity (holding 51% equity of Wanda Investment in total).Transferred to Confucianism and Italy, the total transfer price is 2.155 billion yuan.

After this transaction, the controlling shareholder of the company is still Wanda Investment, and Ruyi Investment holds 51% equity of Wanda Investment. Ruyi Investment is a wholly-owned company of Keliming.Ke Liming indirectly controls 20% of WANDA CINEMAS’s equity through Confucianism and Italian investment, and the actual controller of the company will be changed to Ke Liming.The company’s shares will resume trading on Wednesday, December 13, 2023.

Before this transaction,Wanda Investment, the controlling shareholder of the company, holds 20% of the company’s shares, Wanda Culture Group, Beijing Hengrun,Wang Jianlin holds a total of 51% of Wanda Investment.Wang Jianlin indirectly controls 30.9% equity of WANDA CINEMAS through Wanda Investment and its concerted actors Wanda Culture Group, Shenxian Rongzhi Xingye Management Consulting Center (Limited Partnership) and Lin Ning.The actual controller of the company is Wang Jianlin.

Mr. Ke Liming holds 16.34% of the total share capital of China Ruyi Holdings Co., Ltd. (hereinafter referred to as "China Ruyi"), and China Ruyi controls Shanghai Ruyi Film and Television through an agreement.Production Co., Ltd. (hereinafter referred to as "Ruyi Film and Television") holds 49% equity of Wanda Investment.

After this transaction, the controlling shareholder of the company is still Wanda Investment, and Ruyi Investment holds 51% equity of Wanda Investment. Ruyi Investment is a wholly-owned company of Keliming, who indirectly controls 20% equity of WANDA CINEMAS through Ruyi Investment.The actual controller of the company will be changed to Ke Liming.

In addition, China Ruyi Film and Television, which is controlled by Ruyi through an agreement, holds 49% of Wanda Investment, and Ke Liming also holds 16.34% of the total share capital of China Ruyi. After this transaction, Wang Jianlin indirectly controls 10.9% equity of WANDA CINEMAS through Wanda Culture Group, Shenxian Rongzhi Xingye Management Consulting Center (Limited Partnership) and Lin Ning.

After the completion of the 51% equity transfer, it can be said that Wang Jianlin cleared all the equity of Wanda Investment he held. This is undoubtedly a major turning point for WANDA CINEMAS.

An internal employee of WANDA CINEMAS told the reporter of national business daily on the phone earlier that in October this year, the administrative director and financial director sent by China’s Confucianism and Italy took the lead to settle in WANDA CINEMAS, but other businesses have not changed significantly at present. "As a terminal, even if there is a change, there will be a lag, or the impact is not so great."

Wang Jianlin once made no secret of his ambition for the cultural industry. Many years ago, when faced with the news that Disneyland had settled in Shanghai, he boldly declared that it would be difficult for Disney to make a profit in the next 20 years. He clearly realized that China’s real estate industry has developed for more than 20 years, and in another 15-20 years, this industry may gradually shrink. In order to ensure the sustainable development of Wanda, he understands that the company must turn to diversified fields such as culture and tourism.

In order to realize this transformation, Wanda carried out a major overseas merger and acquisition as early as 2012, and acquired AMC Entertainment Holding Company, the second largest cinema in the United States, which was the first overseas merger and acquisition in China film history. Since then, Wanda Cinema has successively launched a fixed-income plan since July 2015, and plans to acquire 100% equity of Hoyts, the second largest cinema in Australia, and 100% equity of Muwei Fashion and Chongqing Shimao Cinema Management Company, a domestic film data company.

Wanda also owns its own listed company, wanda cinema line, which is in the leading position in the domestic industry and is regarded as an important quality asset of Wanda Culture Group by the outside world. However, affected by the epidemic situation in recent years and other factors, WANDA CINEMAS has also experienced some difficulties. According to the financial report data, in 2019 and 2020, the company lost 4.729 billion yuan and 6.669 billion yuan respectively. Although it achieved a slight profit in 2021, it fell into a loss again in 2022, with a net profit loss of 1.923 billion yuan.

The above-mentioned employees in WANDA CINEMAS told reporters that in recent years, the benefits of Wanda Real Estate have been sluggish, and they often need the support of business management and cultural groups.

Today, Wang Jianlin bid farewell to the original film and television dream.

"Before the epidemic, Wang Jianlin expressed his dissatisfaction with WANDA CINEMAS at the year-end summary meeting for two consecutive years. After the annual party, he will come to our floor, which impressed me deeply. He said in a bad tone that the cinema earned less and the company didn’t keep idle people. The film industry as a whole is only tens of billions a year, which can’t help the big group. " The employee recalled Wang Jianlin’s deep impression on the film and television business.

CFF20LXzkOwNfsay86cib4p0S2T0NfBIZicSMl7tYnKBaibmLibs8uIQI1mZYasibU5KFf6wlMM5EENdMic3ibFTHCmUw.pngWho’s Cleming?

Born in April 1983, Ke Liming is a layman in the film industry. After graduating from abroad, he entered the investment bank. However, after the financial crisis, Ke Liming decided to start a business and began to invest in film and television.

The magical divine comedy "Little Apple" was once a smash hit, and the trader behind it was Ke Liming, and "Little Apple" was also the propaganda song of the film "The Old Boy Raptors Crossing the River" that he was the owner of the real controller.

As an investor and producer, Mr. Ke Liming once led and invested in films such as Keep You Safe, Exchange Life, Moon Man, Hello Li Huanying, A Little Red Flower, Animal World, Sewing Machine Band, never gone, To Our Dying Youth and so on, as well as Love at Nine Bends, Old Chinese Medicine Doctor, Old Tavern, Frontier of Love, No War in Beiping and Langbang.Among them,Guaranteed issueHi, Mom,Won 5.414 billion domestic box office, ranking third in the film history.

This year’s summer file exploded the movie "She Disappeared", and Confucianism and Italian film and television also participated in the investment. The box office of the film has reached 3.467 billion yuan. In addition, this year’s main films of the company include "Warmth" and "Keep You Safe".

At present,ColiminHe is the executive director and chairman of China Ruyi and the executive president of Pumpkin Films Limited.What he is in charge ofmiddlecountryConfucianism(Formerly known as "Hengteng. com"Complex "),frontAs a Masge setGroup, mainly engaged in investment and trading of securities, providing financing, property investment and manufacturing and selling photographic products and accessories business.

In 2015,EvergrandeAfter the acquisition of the group, the Group and Tencent Holdings changed its name to Hengteng Network Group. At that time, the company was mainly engaged in Internet business.

On October 26, 2020, Hengteng Network announced that it had wholly acquired the entire equity of Ruyi Film and Pumpkin Film through allotment and issuance of shares and subscription of equity, and made a comprehensive transformation to an Internet technology enterprise, focusing on creating streaming video services; In January 2021, Hengteng Network announced that it had officially completed the acquisition of all the shares of Confucianism, Italian Film and Pumpkin Film. In the second half of 2021, Evergrande Group experienced a liquidity crisis. By November 2021, Evergrande cleared its equity in Hengteng Network and left, and Ke Liming, the real controller of Ruyi Film, became the largest shareholder of Hengteng Network. Tencent Holdings became the second largest shareholder. After Evergrande left, Hengteng Network was officially renamed as "China Confucianism" in February 2022.

On July 4th, 2023, China Confucianism announced that the company had entered into a share subscription agreement with the subscribers, and issued a total of 2.5 billion subscription shares at a price of HK$ 1.6 per share, raising a net fund of HK$ 4 billion. The institutions or individuals participating in this subscription include Tencent, Liu Xueheng, Cubract Ventures, Yushan and Chengwan Development.

Among them, Tencent will take out 800 million Hong Kong dollars to participate in the subscription through its subsidiary Water Lily, and after the transaction is completed,Ke Liming, chairman of China Ruyi, will reduce his shareholding in China Ruyi to 15.14%.Tencent’s shareholding ratio through Water Lily increased to 20.36%, further consolidating its position as a major shareholder.In addition, Liu Xueheng holds 4.29%, Cubract Ventures holds 4.36%, and Yushan and Chengwan Development hold 4% respectively. According to China Confucianism, the HK$ 4 billion fund obtained this time, of which HK$ 3.6 billion is intended to be used for the development and expansion of the group’s film and game business, and HK$ 400 million is used for the general working capital of the group.

Shanghai ConfucianismA controlled structural entity holding 100% actual rights and interests for China Confucianism and Italy, whichFounded in 2013, it is mainly engaged in the production and operation of radio and television programs and film distribution business.

CFF20LXzkOwNfsay86cib4p0S2T0NfBIZicSMl7tYnKBaibmLibs8uIQI1mZYasibU5KFf6wlMM5EENdMic3ibFTHCmUw.pngWanda’s 38 billion yuan gambling crisis was lifted

According to Dalian Wanda official website, on December 12, 2023, PAG and Dalian Wanda Commercial Management Group jointly announced the signing of a new investment agreement. Taimeng will cooperate with other investors to reinvest in Zhuhai Wanda Commercial Management after its investment redemption expires in 2021 and is redeemed by Dalian Wanda Commercial Management Group. In August 2021, the existing investors invested about 38 billion RMB in Zhuhai Wanda Commercial Management, of which the investment of Taimeng was about 2.8 billion US dollars (about 18 billion RMB), and the existing investors enjoyed the right of redemption at maturity in the original investment arrangement.

This means that before the deadline for Zhuhai Wanda Commercial Management to go public in Hong Kong comes, the gambling pressure on Wanda’s listing has been eliminated.

According to the information disclosed in the previous prospectus, there are 22 institutional investors of Zhuhai Wanda Commercial Management, including Zheng Yutong Family, Country Garden, CITIC Capital, Ant, Tencent and Taimeng Investment Group. In August 2021, these investors invested about 38 billion RMB, of which Taimeng invested about 2.8 billion US dollars (about 18 billion RMB). According to the contents of the previous gambling agreement, if Zhuhai Wanda Commercial Management fails to complete the listing before the end of 2023, Wanda Commercial Management is obliged to repurchase shares from the above investors. If Zhuhai Wanda Commercial Management cannot be listed at the end of this year, it will trigger a repurchase agreement, and Wanda’s cash flow may also be under pressure.

According to the new agreement, Dalian Wanda Commercial Management Co., Ltd. holds 40% of the shares, which is the single largest shareholder, and several existing and new investors such as Taimeng participate in the investment, holding a total of 60%. Previously, Dalian Wanda Commercial Management directly owned about 69.99% of the total issued shares of Zhuhai Wanda, and indirectly owned about 8.84% of the total issued shares through Zhuhai Wanxin, Zhuhai Wanying and Yinchuan Wanda; Twenty-two companies and six senior executives hold shares, holding 21.15% of the shares.

In other words, after the signing of the new agreement, the shareholding ratio of Dalian Wanda Commercial Management Group in Zhuhai Wanda Commercial Management Group decreased by at least 29.99%, while the shareholding ratio of the aforementioned investors increased by 38.85%.

According to Blue Whale Finance, Zhuhai Wanda Commercial Management Co., Ltd. will mainly introduce foreign investors, and some of the original domestic investors will withdraw. Another investor of Zhuhai Wanda Commercial Management Co., Ltd. also said that at present, the investors of Zhuhai Wanda Commercial Management Co., Ltd. are indeed overseas investors, but the list of new investors has not been completely determined. Regarding whether Zhuhai Wanda Commercial Management Association will redeem the investment on schedule when it expires, the above investors said, "After Zhuhai Wanda Commercial Management has talked with the new investors, it is expected that there will be a transitional stage for the withdrawal of the original war investment, and the process is more complicated. At present, all parties are discussing."

According to china securities journal, people close to Wanda responded by signing a new agreement. Some existing investors chose to withdraw from the investment, but the vast majority of investors kept their investment in Wanda. More importantly, new investors entered, including some overseas investors, which showed that investors highly affirmed the growth potential of Zhuhai Wanda Commercial Management and its operating ability.

Zhuhai Wanda Commercial Management signed a gambling agreement with investors. First, the actual net profit from 2021 to 2023 should not be less than 5.19 billion yuan, 7.43 billion yuan and 9.46 billion yuan, otherwise Wanda Commercial Management will transfer the relevant number of shares at zero consideration or pay cash compensation; Second, it will be listed in 2023 at the latest, otherwise Wanda Commercial Management will buy back shares from investors and pay extra compensation.

According to the performance data disclosed by Wanda, Zhuhai Wanda Commercial Management has exceeded its performance target for three consecutive years, with after-tax income of 23.5 billion yuan in 2021, 27.1 billion yuan in 2022 and 29.3 billion yuan in 2023 (estimated), with an average annual growth of about 12%; After-tax profit is 5.3 billion yuan in 2021, 7.5 billion yuan in 2022 and 9.5 billion yuan in 2023 (estimated), with an annual growth rate of 34%.

According to the interim report of Wanda Commercial Bond (2023), the company’s interest-bearing debts within six months totaled 15.84 billion yuan. In other words, Wanda Commercial Management still has 15.84 billion yuan of interest-bearing debt due during the year. The above report also shows that Wanda Commercial Management’s interest-bearing debt due in the first half of 2024 is 13.417 billion yuan.

According to the 2023 Hurun Rich List released by Hurun Research Institute on October 24th, the Wang Jianlin family of Wanda was among the richest people with the largest decline in wealth this year, and its wealth dropped by about 53 billion yuan.

edit|Du Hengfeng Du Bo, Cheng Peng

Proofread |Duan Lian

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National business daily is integrated from company announcements, Blue Whale Finance, china securities journal, Wanda official website and public information.

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