Wanda Group Responds To "1.9 Billion Equity Being Frozen”

Published: Jun 8, 2023 15:50

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Wanda Group issued a statement on the report of "Dalian Wanda Commercial Management's 1.9 billion equity being frozen", saying that Wanda Real Estate Group and a company have cooperated in a large-scale project in Changchun. So far, there are still financial disputes of more than 1 billion yuan between the two companies.

SHANGHAI, Jun 8 (SMM) – Wanda Group issued a statement on the report of "Dalian Wanda Commercial Management's 1.9 billion equity being frozen", saying that Wanda Real Estate Group and a company have cooperated in a large-scale project in Changchun. So far, there are still financial disputes of more than 1 billion yuan between the two companies.

When Wanda Commercial Management introduced investors in 2018, its 4.527 billion equity was valued at 243 billion yuan at that time which is public information. The freezing of Wanda Commercial Management’s 1.9 billion equity greatly exceeded the amount of financial disputes between the two parties.

Wanda is appealing through legal channels and is confident in safeguarding the legitimate rights and interests of Wanda Group.

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