AutoBeta(AutoBeta.net)10/12 Report--

On October 11, at the launching ceremony of strategic cooperation announced by FAW and Wanda Group, Wang Jianlin, Chairman of Wanda Group, said that he personally took the lead, and all senior executives above vice president of Wanda transferred to Hongqi Automobile, which not only expressed trust in domestic brands, but also showed confidence in national brand Hongqi Automobile.

It is understood that Wanda Group and China FAW strategic cooperation, the two sides will from the service ecology, energy ecology, member ecology and other three dimensions of mutual empowerment, innovation and co-construction of "red flag user experience ecology". Wanda will jointly establish an automobile service company with Hongqi and Hongqi partners, relying on Wanda's commercial plaza and cultural tourism projects to build a "brand-new Hongqi Shangchao Experience Store" nationwide. The experience store will be completed in the first half of 2022 for six consecutive years, which will provide customers with a comprehensive car display experience, more convenient online and offline sales experience, and convenient and fast maintenance service experience. In addition, Wanda Group will provide VIP membership channels for owners of partner Red Flag. All red flag owners under Wanda Group can enjoy preferential policies for parking, hotels, movies and other services.

As for the strategic cooperation between Wanda Group and China FAW, in fact, as early as August 20, Wanda Group and China FAW signed a strategic cooperation agreement in Changchun. On July 14, Hongqi dealer Taiyue Group once released a message saying that FAW Hongqi, Wanda Group and Taiyue Group held strategic cooperation talks in Beijing, and the three parties initially reached cooperation intention. It is worth noting that this is not Wanda's first time to set foot in automobile-related fields. As early as 2016, Wanda Group invested in Yinlong New Energy. Wang Jianlin said in an interview that one of the reasons for buying shares in Yinlong is that he is friends with Dong Mingzhu; in addition, believe Dong Mingzhu, believe that her vision will not be wrong. He also said,"Investment is not worth 500 million." According to relevant information, Wanda Group still holds 3.73% shares in Yinlong New Energy, which is the sixth largest shareholder of Yinlong New Energy.

According to the data, Wanda Group has had to choose "broken arm survival" since 2017 due to its huge debt crisis. After several large-scale asset sales, the risk was turned into safety, and at the same time, the real estate was stripped off and embarked on the road of light assets. Although the asset-light road has had significant effects in the past two years, with the arrival of the epidemic, Wanda's commercial, cultural and tourism, film and television industries have been severely hit, and Wanda has fallen into crisis again. This strategic cooperation with China FAW is also a brand-new cooperation beginning for Wanda. For China FAW, the cooperation with Wanda Group can make use of Wanda's offline commercial scene resources such as plaza and cinema to open up the flow entrance of offline commerce. In addition, in combination with commercial theme activities, it can enhance the influence of Qihongqi brand in consumers 'hearts and expand the sales channels of FAW Hongqi Automobile.

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