Wang Sicongs Pan entertainment empire blueprint is broken, and Wang Jianlin and Wanda cant save him

category:Finance
 Wang Sicongs Pan entertainment empire blueprint is broken, and Wang Jianlin and Wanda cant save him


But after a few months of silence, Wang Sicong became active again on Weibo.

Late rebel

Before the age of 16, Wang Sicong would never have expected that he was a rich second generation.

At the age of 5, he was sent to Singapore by his father to attend primary school. He was admitted to the University of Winchester and University College London. He got full marks in IELTS and fluent in English. The traditional elite education created an outstanding returnee Wang Sicong. After returning to China after studying, Wang Sicong became a director of Wanda Group under the arrangement of his father. This mysterious figure finally came into peoples sight.

In 2011, Wang Sicong refuted the rumor of Wang Xiaofeis mother Zhang Lan on Weibo, saying that Wang Jianlin sponsored the wedding of Wang Xiaofei and big s for free was pure rumor, and then continued to bombard Zhang Lan was not worthy of respect. Wang Sicong became famous in the first battle.

Since then unrealistic make him satirize Fan Bingbing and Zhang Xinyu as a carpet star, accusing Jingdong of big shop bully, and make complaints about the poor English. Now, because of tearing his cousin ah Shui and earning 666 yuan an hour, he has been on the microblog frequently.

Wang Sicong, who received elite education since childhood, not only did not maintain his elite class, but also broke it up and spread it out in front of ordinary people. He let the public see a elite grassroots, high above but with a clear face, and won many fans.

Just as Chen Ou commented on Wang Sicong in those years: Lao Wang is a very smart person. He directly breaks out the netizens feelings towards the stars and the elite, and he is a leader.

Wang Sicong is also a businessman.

Broken blueprint of Pan Entertainment Empire

Wang Sicong once said that his biggest challenge was to surpass his fathers success in his lifetime.

In that year, Wang Jianlin allocated 500 million yuan to Wang Sicong to start his own business. He let him do it himself for five years and cheated 20 times to see if he could succeed. In 2009, Wang Sicong took the start-up capital to establish price capital. Born with a golden spoon, the capital became a fulcrum for Wang Sicong to pry his fathers generation, and also became the starting point of his dream of E-sports.

In August 2011, Wang Sicong formally entered the e-sports industry, and in doubt, he acquired the CCM team which was on the verge of dissolution at that time, and quickly established Ig club. In the next few years, Wang Sicong successively took a stake in Yunyou holding, amusing games, hero entertainment and other game industries. From game teams, live broadcast platforms, mobile game distribution companies, to offline competitions and E-sports peripherals, Wang Sicong opened up the entire e-sports industry chain at one go.

In the e-sports circle, Wang Sicong has become the President Wang in everyones mouth, and has also passed a player addiction. On August 19, 2018, Wang Sicong appeared in the match against VG as the first ad. One month later, he announced the end of his 31 day career in lol.

What really pushed president Wang and Ig to a climax was the night when Ig won the championship. Wang Sicong took out 1.13 million in micro blog cash lottery. Later, photos of him eating hot dogs on the court became more popular all over China, dominating the screen for three days and three nights.

The capital investment of Wang Pusi and Volkswagen is indispensable. At the beginning, Wang Sicong led Chinas E-sports out of the minority and established his own E-sports kingdom. But inevitably, the e-sports boom is slowly fading, and Tencent is playing a big game of chess behind its back.

At the time of E-sports being constrained by Tencent, Puss capital is also in danger due to LETV sports.

In 2015, when LETV sports first round financing, price capital as a co investor participated in a + round of financing. In March of the following year, LETV sports conducted a round of B financing, and Wang Sicong took advantage of the situation to launch short-term operation, successively reducing his holdings and selling old shares of LETV sports. However, at the end of 2016, LETV sports was found to have misappropriated more than 4 billion yuan of funds without authorization. As a result, its business situation deteriorated rapidly and its debts were high, and Puss capital was also in trouble. Although Wang Sicong reduced his shareholding twice and made a profit of 200 million, there are still a large number of LETV sports shares that can not be withdrawn.

Also not going well is panda TV, which was established less than five years ago. At that time, Wang Sicong, a circle of friends, announced the establishment of panda TV and invited investors to meet with him at any time.

Led by Wang Sicong and invested by Internet giant Zhou Hongwei, this panda TV, which has invited all kinds of stars to settle in and dig anchor from Huya, douyu and other platforms, was born with a huge halo. In the thousand broadcast war, it quickly entered the top three in the industry.

But after 2016, panda TV began to decline. From Hello! Goddess was asked to be removed from the shelves for rectification, panda live broadcast had problems in round B financing, and was pushed to the forefront of the storm for suspected online gambling. Wang Sicong is not as interested in Panda TV as he was, and he didnt even attend the annual meeting in 2018.

At the beginning, Wang Sicong, who has already established the kingdom of e-sports, has also established panda TV and banana project company, covering the entire industry chain of the e-sports industry, depicting the blueprint of a pan entertainment empire. Wang Sicong dreams of making panda into an online version of mango TV, a happy base camp of 24-hour continuous file, but this dream has only been done for three years.

On March 30, 2019, panda live broadcast announced the official closing of the station, and the once famous live broadcasting platform came to an end.

The last straw to crush panda is Tencents copyright lawsuit.

Wanda cant save Wang Sicong

Pusi capital and panda TV have been on the verge of extinction. I was listed as the executee. Wang Sicong was in a bit of a mess at the age of 31, but his father, Wang Jianlin and Wanda, could not save him.

Wandas 31 year old is not as good as Wang Sicong thought.

However, the reality is that Wanda real estate has no quick breakthrough.

Last year, Wandas full caliber sales volume was 56.68 billion, ranking 59th. When the epidemic was most serious in the first quarter of this year, Wandas full caliber sales volume was only 3.7 billion, which further dropped to 80th. In the first half of the year, the companys sales volume was about 21.87 billion yuan, still not in the top 50.

At the expense of growth, the company once bought a low debt ratio, but now it has returned to the cultural and tourism projects with large investment scale and long return period. Under the mode of heavy assets, whether Wandas financing ability and debt paying ability can keep up with that and whether Wanda can revive the real estate business is still uncertain.

In addition to the real estate business, Wanda film, Wanda Plaza and AMC are all facing different degrees of difficulties.

Both revenue and net profit of Wanda film fell last year, and the loss in the first quarter of this year decreased by more than 200% compared with the same period last year. In the first half of the year, the revenue of Wanda film decreased by more than 70%, and the net profit attributable to its parent fell by nearly 400% year on year, and the loss was 1.6 billion yuan.

At the same time, AMCs share price has been falling, the debt level is high, and the cash flow is tight. Even Wanda Plaza, once the biggest advantage, has lost its competitiveness in front of SKP and Longhu Tianjie.

Wang Jianlin is 66 years old, and his own Wanda is still in the process of transformation, and Wang Sicongs stall is even more difficult to clean up. In other words, even if Wanda operates well, Wanda is not owned by Wang Jianlin after all, and Wang Sicongs debt cannot be paid back by Wanda.

Wang Sicongs debt can only be paid by himself. Some time ago, Wang Sicong started a game practice business on the Bi Xin Pei Lian app, with an hourly salary of 666 yuan. At present, he has served 5 people.

Source: interface news Author: Tao Ting, editor in charge: Zhang Mei_ NF2100