Liu Peng, author of Tencent's Finance and Economics
After Wanda sold its hotel and cultural travel project on July 10, it is going to "sell" its important asset, Wanda Plaza? Recently, some media found that Nanchang West Lake Wanda Square and Jiangsu Yancheng Wanda Square have quietly changed owners by inquiring about industrial and commercial data. Among them, the recipient of Nanchang West Lake Wanda Plaza is Pearl River Life.
In fact, the "change of ownership" of Wanda Plaza is far more than the above two.
On July 25, people close to Pearl River Life confirmed to Tencent that Pearl River Life had "taken over" three Wanda assets, which were recently disclosed on its website. According to the link sent by the person, the non-insurance subsidiaries controlled by Pearl River Life include Datong Wanda Real Estate Development Co., Ltd., Nanchang West Lake Wanda Plaza Investment Co., Ltd. And Chongzhou Wanda Plaza Real Estate Co., Ltd., all of which have a registered capital of 10 million and are 100% owned by Pearl River Life Insurance, the legal representative Wang Li. The three companies own a total of three Wanda Plaza projects in Dalian, Nanchang and Chongzhou.
On the morning of July 25, a Wanda Group source told Tencent that these Wanda Plaza projects belong to Wanda's direct investment projects, that is to say, when the project was signed, it was determined that the property right belonged to Pearl River Life Insurance. Now that it is completed, the property right has been transferred to Pearl River Life Insurance. This is also part of the light assets strategy of Wanda Plaza. Nanchang West Lake Wanda Plaza is the first batch of light assets projects.
For these three projects, did Pearl River Life Insurance stipulate that its investment property right belongs to Pearl River Life Insurance when it signed the cooperation agreement, and Wanda is only responsible for design, construction and operation, or did Pearl River Life Insurance take over Wanda Plaza through asset transfer? Pearl River Life did not respond to this.
Pearl River Life officially opened on December 28, 2012. It is a comprehensive life insurance company jointly invested by seven shareholders, including Guangdong Pearl River Investment holding Group Co., Ltd., Guangzhou Financial Holdings Group Co., Ltd., Guangdong Hanjian Investment Co., Ltd., Guangdong New South Group Co., Ltd., Hengyang Hechuang Real Estate Development Co., Ltd., Guangdong Zhuguang Group Co., Ltd. And Guangdong Yuecai Trust Co., Ltd. The registered capital is 6.7 billion yuan. Headquartered in Guangzhou, Guangdong Province, it is the only life insurance company headquartered in Guangzhou at present.
It is worth noting that Pearl River Life has experienced eight capital increases in less than five years. In 2016 alone, through four consecutive rounds of capital increases, the registered capital increased from 4.2 billion yuan to 4.75 billion yuan, 5.6 billion yuan, 6.7 billion yuan and 7.5 billion yuan respectively. However, Pearl River Life's plan for a capital increase of 7.5 billion yuan in the last round has not yet been approved by the CIRC.