Futu News on August 2, the listing of Wanda Sports fell for six consecutive days, with a cumulative decline of more than 45%. As of press time, it fell 6.45% to $4.378, nearly halving the share price of $8, and lost $510 million (3.528 billion yuan) of Wang Jianlin's 35 small targets.

At the beginning of the listing, Wanda Sports cut its offering price twice, once reduced the number of ADS offerings, and reduced the amount of money raised from the previous peak of $575 million to $190 million, which shrank by nearly 67% and gave in three times. Wanda Sports still chose to go public because of concerns about the current financing environment. And Wanda Sports raised money not for extension, but for repayment of old debts.

Wanda Sports, which lives mainly on the copyright of head matches in China, is now facing the expiration of a number of important contracts, such as the media sales contract with Serie An and the media sponsorship with the German Football Association, which will expire at the end of the 2020 season. Asian media sales and broadcasting rights for World Cup events such as the World Cup in cooperation with FIFA will also expire at the end of 2022, while Yingfang's existing contract with FIFA World Cup will expire at the end of 2022. When the rights to these events expire, Wanda Sports will have to compete with other players in the sports industry, and the royalties for live broadcast of the 2018 World Cup have been fired as high as 1 billion yuan under competition from Youku, Tencent and other companies. It is conceivable that Wanda Sports will take on more debt in the future as a result of a series of copyright investment measures to maintain its leading position.