Guo Yifei, author of finance and economics of Tencent

July twenty _ seventh in the afternoonSunac ChinaSun Hongbin, chairman of the board, said on Weibo Corp, "in the near future, we will slow down development, speed up elimination, reduce debt ratio, and ensure health and safety."

Recently, Sun Hongbin has attracted wide attention from the market for his investment in Letv and the acquisition of Wanda Culture Travel Project. In this regard, Sun Hongbin said today, "We are always asked why we want to invest in Letv and cooperate with Wanda because we firmly believe that the real estate industry will develop steadily and healthily, and that the big culture, tourism and entertainment, the main industry of consumption upgrading, will break out. Because Sunchuang is firmly optimistic about the future of China's economy."

He disclosed that "in the near future, we will slow down the development, accelerate the elimination, reduce the debt ratio, and ensure health and safety." We firmly believe that with the de-inventory and deleveraging at the enterprise level and the stable development of the financial industry, the economy will usher in rational prosperity.

In January 2017, Rongchuang spent 15.041 billion yuan to rescue Letv. Since then, with Letv's crisis simmering, Sun Hongbin intervened strongly and was elected in July.Leeco NetworkChairman of the board.

In July 2017, after abandoning the hotel assets sold by Wanda, Sunac acquired a 91 per cent stake in 13 cultural travel projects owned by Wanda for 43.844 billion yuan, and the project took on all existing loans of about 45.4 billion yuan after delivery.

In this regard, Sun Hongbin argued in an interview with Tencent Finance and Economics and other media that Sunac currently has its own cash of 90 billion yuan, and the acquisition has little impact on cash flow. Of the 52 billion yuan in disposable cash, 40 billion yuan was borrowed by the end of 2016, according to the financial report.

Previously, three international rating agencies, including S & P, Fitch and Moody's Corporation, all downgraded its bonds to express concern about its debt. "almost all the land acquired last year did not make money, so Sunac has stopped taking land since National Day holiday last year, and this year it will not take land in the open market. It will still focus on mergers and acquisitions." Sun Hongbin stressed this in his earnings report in March.

Related news: