Joy City: The company's and its subsidiaries' guarantee balance reaches 11.761 billion yuan

Radar Finance Text | Yang Yang Edited | Li Yihui

On February 13, Dalian Wanda Commercial Properties Co., Ltd. (Stock Code: 000031, Stock Abbreviation: Wanda Commercial) announced that its controlling subsidiary, Wanda Commercial Real Estate Co., Ltd., provided a guarantee for Nanjing Yuejin Cheng Real Estate Industry Co., Ltd. Nanjing Yuejin Cheng signed a “Real Estate Loan Contract” with the Nanjing Zhongshan Branch of Industrial and Commercial Bank of China, applying for a 2.4 billion yuan loan with a five-year term, used for project construction, replacing existing bank loans, and repaying shareholder loans.

Wanda Commercial Real Estate provides a joint liability guarantee for Nanjing Yuejin Cheng in proportion to its equity stake of 50%, with the guaranteed principal not exceeding 1.2 billion yuan. Another shareholder of Nanjing Yuejin Cheng also provides a joint liability guarantee under the same conditions according to their shareholding ratio.

As of the announcement date, the company’s and its subsidiaries’ guarantee balance was 11,761.3706 million yuan, accounting for 111.00% of the company’s audited net assets attributable to shareholders as of December 31, 2024. The company has no overdue guarantees or guarantees involved in litigation.

Tianyancha data shows that Wanda Commercial was established on October 8, 1993, with a registered capital of 42,863.13 million RMB. The legal representative is Yao Changlin. The registered address is Room 101, 1st Floor, China Grain Real Estate Group Center, No. 3 Longjing Second Road, Xin’an Street, Bao’an District, Shenzhen. Its main business includes real estate development, operation, sales, leasing, and management of residential and commercial properties, covering residential, commercial, and some industrial real estate.

Currently, the company’s chairman is Yao Changlin, the secretary is Deng Xiaotian, with 6,189 employees. The actual controller is the State-owned Assets Supervision and Administration Commission of the State Council.

The company has 340 associated companies, including Shanghai Shiliang Real Estate Consulting Co., Ltd., Shanghai Yuepeng Real Estate Development Co., Ltd., Shanghai Xinlan Real Estate Development Co., Ltd., Yelong Limited, and China Grain Real Estate (Shenzhen) Industrial Co., Ltd.

In terms of performance, the company’s operating income for 2022, 2023, and 2024 was 39.579 billion yuan, 36.783 billion yuan, and 35.791 billion yuan, respectively, with year-on-year changes of -7.12%, -7.06%, and -2.70%. Net profit attributable to the parent was -2.883 billion yuan, -1.465 billion yuan, and -2.977 billion yuan, with year-on-year growth rates of -2781.39%, 49.17%, and -103.14%. During the same period, the company’s asset-liability ratio was 77.85%, 76.73%, and 76.73%.

Regarding risks, Tianyancha information shows the company has 1,951 Tianyan risks, 4,029 surrounding Tianyan risks, 192 historical Tianyan risks, and 1,535 warning Tianyan risks.