【CEO观点】万达集团董事长王健林: 万达集团如何实现转型

近日，万达集团董事长王健林做客新华网思客讲堂时表示，万达既然决定转型，就不怕打破坛坛罐罐，王健林还透露说，在未来一周左右，万达会有重大的消息发布，这个消息会在资本市场上乃至在整个行业里都会激起很大的震动。

谈及万达电商CEO离职的问题时，王健林也表示，不能把哪一个人的离职看成是这个公司的实践受到了影响或者受到挫折，这是完全不对的。

王健林说，万达一方面在充实新的人进来，另一方面对于不能胜任职位或双方都觉得不合适的人，那就调整岗位，这是非常正确的，不能理解成好像对公司有什么影响。CXO UNION-CXO联盟（cxounion.cn）

王健林演讲实录：

我在前不久的一次演讲中讲了万达的转型，所以今天在思客讲堂我就不再重复那些内容，今天我着重讲万达如何实现转型，或者叫万达如何做到转型。

现在转型是一个非常热门的词，从国家层面来讲强调产业结构调整，从企业层面、从微观来说就是转型，转型这个词已经提出快20年了，那时叫调整产业结构。

我认为国家整个产业结构还没有实现真正结构上的转型，包括企业也是一样，大家都在思考，为什么要转型？既有商业模式还在延续，为什么还要转？CXO UNION-CXO联盟（cxounion.cn）

转型是为了未来，企业要追求长期稳定的现金流，如果一个企业在十年、二十年之后它还能生存，就是成功转型。

万达几年前提出实行转型以后，万达提出了转型的目标——“2211战略”。就是到2020年，做到企业资产2000亿美元、市值2000亿美元、收入1000亿美元、利润100亿美元，这是我们追求的长期目标，来自房地产类的收入降到30%以内。

现在看来，我们的目标完全有可能，不是提前实现，而是实现更彻底的转型，我们希望万达不再是一个地产企业。

说我是“商业地产教父”，实际教父不敢当，但是教授敢当，因为我是最早做这个行业的人。

我希望三到五年之内把“地产”去掉，变成商业发展公司或者商业服务公司，我们正在为此努力。

现在万达之所以能够真正实现转型，并开始向正确的方向走，最重要的问题是确定正确的战略转型方向，确定的这四个产业还有一个特点就是具有协同性，彼此之间并不存在盲目跨越。

为什么要做这些内容呢？商业之所以要轻资产化，是为了更快地发展，商业发展起来了，这个平台上就会有附加值，进而院线、儿童娱乐就会发展更快。

这样一来，用户数量就会增加，用户数量的增加会使互联网金融、电子商务公司产生更多的附加值，所以，这四个产业是围绕着一个平台打造的，而这个战略方向确定正确，那么路子就走得比较顺。CXO UNION-CXO联盟（cxounion.cn）

一、万达未来十年的战略方向往哪转

大家都在说转型，但是往哪儿转、哪个方向才是正确的？确定什么样的中期以及长期战略目标？

万达给自己的转型确定了一个战略方向，至少未来十年左右将围绕四个支柱产业发展：

一是万达商业。把原来起家的基础公司变成一个商业服务公司，没有地产。

二是文化集团。万达文化集团是大的文化集团概念，包括文化、体育、旅游等等在内，这个集团大概有四个控股公司：影视控股、体育控股、旅游控股和儿童娱乐。

三是金融板块。我们很快就要成立万达金融集团，在这之前，我们在金融上的布局已经基本确定，最近一两个月就会宣布，万达将形成一个金融集团，有银行、保险、证券、支付公司、资产管理等，我们的金融集团也会跟传统的金融集团完全不同。

四是电子商务。我们要做的电子商务不是大家想象中的网上买卖物品（具体可查看马海祥博客《万达电商不做实物卖商品，做生活类O2O电商》的相关介绍），当初在拟定公司名字时，我和马化腾、李彦宏商量了半天，但是又不能用很长的名字，因为从营销上来讲，最容易被大家记住的公司名不超过三个字，太长了大家就不会说了。

在韩国曾经有一个公司，它实现两个公司的并购，现在公司名字改了，以前叫乐喜金星，它有自己的足球队、棒球队，但是等球队上场的时候，没有一个人喊乐喜金星加油，因为名字太长了，所以这个公司在市场上被提及的时候从来不会与这四个字连在一起。

后来公司觉得很奇怪，请了美国著名的营销公司给改名字，那个案例他们花了5个亿，最后就叫LG，这是营销学上的经典案例。

其实在搞营销的时候，被人一口气说出来的名称，一般不能超过三个音节，不管是英语还是中文，我们准备做电子商务的时候研究了半天，也觉得不能写一串名字，比如叫电子信息增值服务等，否则最后被大家记住就只是电商。

二、转型，就不怕打破坛坛罐罐

在现代企业经营中，很多公司做的不好或者在做的过程中逐渐衰败，不完全是战略因素，最根本的一个因素是执行力不到位，也就是说，有很好的想法，但是没有落地的能力。

如果公司的执行力不足或者执行当中走样，那么这个公司是做不好的，万达如何做到转型？就是我们有坚强的执行到底和执行转型的能力，比如商业转向轻资产的问题。CXO UNION-CXO联盟（cxounion.cn）

前两天我和一位著名企业家沟通，他说他非常佩服万达，他认为我们这么多年来有一个特点，即说到做到，包括转型。

我说，我们不是说转型就转型的，为了转型，我们制定了一系列保证转型的制度和措施，而且在执行制度和措施时态度非常坚决，跟奖惩、干部任免都是挂钩的。

在中国，万达为自己打造了一个非常好的品牌，就是执行能力强，以万达广场开业为例，我们会在第一年9月份宣布第二年有20个或者30个广场开业。

比如我们将在今年9月份会宣布2016年有55个万达广场开业，后年也许会有更多，这几十个广场、十几个酒店，还有大型度假区，定下哪一天开业就会在哪一天开业。

做到这一点有多么不容易？这个过程不是企业说了算，还有办证、验收等很多问题，那怎么做到呢？这就得益于我们拥有的一套工作计划管理模块软件，这个软件是获得全球专利的。

从宣布万达商业要转型、要去地产化以后，我们做了两件事：第一，转让我们现在已拿到地的、将在2017年以后开业的重资产项目，什么是重资产呢？

就是我们自己投资并与住宅销售稍带关系的项目，而这样的项目，我们要坚决转让。转让意味着什么呢？意味着我们会丢掉一部分开发利润，也得不到资产增值的好处。

但是我们就能痛下决心，该舍弃就舍弃，不要开发利润，也不要资产增值，为什么要把这些利润和增值舍弃？因为这样会换来更大的好处，即集中我们的人力资源、资金做现在的轻资产，什么叫轻资产？就是用别人的钱。

有两个方式：第一种叫直投，就是机构直接跟万达商业地产签约，机构投资，我们负责设计、建造、管理、招商等等，我们分30%的租金。

第二种叫众筹。我们推出了一个项目叫“稳赚1号”，50亿推出来，一千块钱起，搞众筹，这会涉及一些内部规定，例如如何流通、如何保证收益等等，这个项目推出以后，第一天就卖光了，第二天、第三天又拿出一少部分出来卖，很快就卖掉了，所谓50亿众筹遭秒杀。CXO UNION-CXO联盟（cxounion.cn）

这就说明，中国现在还有很多社会过剩资金在找出路，而像我们这样比较稳健、收益比较高的产品也比较少，利用这些钱更快地投资，就可以获得很多增值的东西。

所以，真正确定了转型的战略目标以后，如何将这个目标执行到位？这是实现转型的一个非常重要的环节，即我们要拥有坚定的执行能力。

万达既然决定转型，就不怕打破坛坛罐罐，在未来一周左右，我们会有重大的消息发布，我相信这个消息会在资本市场上乃至在整个行业里都会激起很大的震动。

为什么万达把很多能够赚钱的项目打包给别人了？因为我不要开发利润，我追求的是商业租金的提升，虽然自己开发一块钱就能拿到一块钱，但是现金流必须通过销售来实现。

例如，我替别人管理，三个30%就是90%了，同时我还没有什么风险，由于模式的转变，万达能够扩展到所有人多的地方去，这也是我们执行能力的一个体现。

过去为什么万达广场不能扩展到地级市？不能扩展到县城？因为房价不够。现在我们就一个判断标准，只要有40万人的地方就敢去投，所以，我们现在扩张的速度奇快，从今年的26个翻到明年的55个，后年也许是60、70个，因此，要实现转型，就是要有坚强执行能力。

三、不为了转型而转型，要结合自身优势

转型不是为了转型而转型，不是比谁的名字好听，也不是比谁的利润高，或是比哪个战略新、行业新，前几天资本市场有一个公司起了一个新潮的网络名字，结果股价一下子上去了，但仅仅是名字转型是不够的，互联网热马上去搞互联网，文化比较热马上去搞文化。CXO UNION-CXO联盟（cxounion.cn）

要根据公司基础、人才结构、创新能力等各个方面，结合自身优势来转型，以万达为例，万达转型最大的优势就是线下资源，万达拥有全世界最大的线下消费平台。

去年在万达消费的已经超过16亿人次，今年会超过20亿人次。万达电子商务公司现在正在进行开放式的签约，不只管自己的，也愿意管理外边的大型商业中心等。

万达来投资，对其进行信息化、网络化的改造，我们正把开放式的平台建设和内部发展结合在一起，按照我们的预估，到2020年，到万达广场消费人群至少会到100亿人次，我们的目标是达到150亿人次。

按照现在网络活跃会员的说法，一个月一次那就是10亿人次以上，而且按照我们现在的统计，到万达广场消费的人次不止一月一次，平均起来一年会有20到30次左右，我们可以囊括中国6到7亿人，而且这些人是消费的中坚力量。

既然万达最大的优势就是线下平台，那么我们的转型就是要把线下优势发挥得更加充分，同时结合最新科技和未来趋势，往这个方向转。

举个做文化产业的例子，去年万达商业地产净利润是248亿，股票价值2500亿，万达院线净利润只有8亿，今年1到5月份，同比实现了百分之几十的高速增长。CXO UNION-CXO联盟（cxounion.cn）

市值已经1000多亿了，现在正在有一些并购，并购必须要停牌，我们会有一系列并购的东西放进去，复牌以后，肯定比停牌前还会有增长。

即使按照停牌前看，它的价值超过商业地产一半了，所以一开始万达内部的人，特别是做商业地产的同事不理解，万达院线只有8亿净利润，是我们的尾数，凭什么市值是我们的一半？

我说你们要理解，因为这就是未来，资本的喜好就代表了未来，如果它有48亿利润，那可能市值就是你的好几倍了。

所以我们现在就要往文化产业、体育产业去做，我们快速地发展“轻资产”，快速把这个店做大，我们有一个清晰的计划，2020年至少要做到500个店，500个万达广场，如果对外再签约1000个，这就意味着更多个平台出来了。

比如做电影院线、儿童娱乐以及做其他文化产业的，在这个平台上就发展得更快了，这就是结合自身优势。

再比如，我们现在从事一个新的行业——旅游产业，这个产业也是结合了我们自身优势在做，过去我们做文化旅游，怎么做旅游不太清楚，后来万达慢慢摸索，摸索到一个品牌叫做万达文化旅游城，现在已经开业了3个，现在看来效果非常好，我昨天刚刚从武汉回来，就是接待比利时国王和王后观看我们的汉秀。CXO UNION-CXO联盟（cxounion.cn）

这个品牌已经传到欧洲了，现在有很多游客，当然我们还有一些其他旅游项目，我们叫做建设目的地，正在投资的有十几个，我们也提出了一个目标——2020年成为世界最大的旅游公司，现在世界最大旅游公司是迪斯尼，一年1.3亿入园人次。

而我们2020年的目标是2亿人次，要做到还要靠大型旅游度假区，一个度假区基本上是1000万到2000万人次，开业十几个，这个目标就达到了，中国人多，而且度假是一种反复消费，不是一次性消费，做完以后还要结合自身优势开发旅游产品。

我们想把目的地和渠道叠加，现在做的还不够，除了并购一些旅游社，还要往新的方向发展，比如我们最近又并购一个大型的旅游网站，这个消息很快也会发布出来，把线下平台、线下渠道结合在一起，这个转型就成功了，我们的转型最终都是结合自己的优势来进行。

现在电影产业很热，中国最近连续六年环比增长65%，我自己判断，两年之内，中国总的电影产业2017年会超过美国，但是你看这个热，如果从来没有做过就不应盲目地去转型，一定要结合自身优势来转，扬长避短。

四、根本不存在互联网思维

一是不能神化互联网，互联网在2000年曾经有过一次泡沫破裂，现在又重新热起来了，前段时间出现了的互联网热潮甚至到了神化互联网的阶段，还出现一个新词叫“互联网思维”。CXO UNION-CXO联盟（cxounion.cn）

其实这个词刚出现的时候，我就批判了这种说法，我认为根本不存在互联网思维，互联网就是一个工具，怎么可能出现互联网思维呢？

许小年教授的一篇文章写得非常好，他说，出现了蒸汽机，能说蒸汽机思维吗？出现了电报，能说电报思维吗？所有新的科技工具只是一种比较先进的工具而已，运用工具叠加了实业当中能产生巨大的价值，但是不能说这个工具叫互联网思维，其实“创新思维”比较合理一点。

万达为什么要进行电子商务？我首先跟大家讲，不要迷信，不要唯上、唯书，也不能唯科技的东西，现在很多做实业的人有一种互联网恐惧，这是有问题的。

我在公司内部讲，勇敢地去跟互联网，不要怕，失败了再来。我们摸索着走，所以就成立了一个电子商务公司，为了吸取先进的营养，我们拉来两个伙伴入伙（具体可查看马海祥博客《万达联合百度和腾讯成立万达电商的战略规划》的相关介绍）。

二是互联网+实业才有前途。线上虽然这些年发展非常快，也出现了BAT三家，在中国也有很多优秀的巨头，但是如果完全线上运行下去，你敢保证十年、二十年、三十年后还能看得见这个公司吗？不一定，所以现在全球互联网界已经有一个新的说法出现。

有人认为，今后有前途的就是物联网，单纯的互联网公司在五年内会消亡，我觉得这话夸大了一点。

中国现在也提出了一个新的口号“叫互联网+”，我觉得这是非常英明的一个口号。如果单纯搞互联网经济，这就错了，应该是互联网+经济。CXO UNION-CXO联盟（cxounion.cn）

把互联网这个工具+到所有的行业上去，就会产生真正的价值，这就是为什么我们的转型要跟互联网结合的原因，我觉得互联网+有前途，我本身就是这个看法，我们集团内部就是这么做的，我们成立的万达互联网电子商务公司，它不是简单的买卖商品关系。

我们成立了自己的金融集团，曾经有人起名叫互联网金融集团，我把互联网三个字去掉了，做的是互联网+的事就可以了，没必要名称上再加上互联网这三个字。

它怎么做互联网呢？怎么+兼容呢？那就是和电子商务公司结合，电子商务公司成都大数据公司将于10月份开业，现在已经在发展会员，加入会员后会绑定你的手机号码，通过快钱支付系统，就会形成一个数据中心。

我们的线下资源最多的就是商户，现在有十几万个商户，按照既定目标走的话，2020年万达可以至少拥有50万个商户。

商业中心里面的业态越多越好，而且体验业态越多越好。那些小的商户都有POS收款机，我们电子商务公司正在研发一款云POS，可以刷脸支付、手机移动支付、中老年用卡支付。

现在第一代云POS已经研制成功，一台8000元钱，成本太高了，我要求体积更小，把成本降到3000元以下，一旦第二代研发成功，在万达就会快速推广。

到那时我们收购的银行就不用在线下开物理分行，只要利用收款机掌握你的信息就可以给你发放贷款，这个贷款颠覆了所有传统商业银行的信贷模式，就是要凭信用，先抵押再放款。CXO UNION-CXO联盟（cxounion.cn）

你只要在我的经营系统经营一年以上，我就能掌握你上一年的现金流是多少，比如你上一年是300万的现金流，我们就能推算出你的成本大概占现金流的70%。

我们马上给你100万贷款额度的授信，如果你申请贷款，在授信范围之内我们一秒钟就给你放款。

怎么还款？这就跟我们这套数据系统结合上了，比如贷一年期切成365天或者两年期730天，每一笔款按照365分之一，就自己切走了，操作起来既安全又及有保证，因为你现金流的接口在我这里，我不怕你。

电子商务公司是另外一种商业模型，我们非常强调万达的转型，特别注重一点，要互联网+实业，或者说实业+互联网，这样才能成功。CXO UNION-CXO联盟（cxounion.cn）

五、万达要成卓越而伟大的公司

并购有两个作用：第一个作用，通过并购做大规模，我从来不把世界500强称为500强而是把它们称为500大，现在全世界的500大，没有一家公司是完全通过自身发展起来的，做到这么大的规模，一定有并购，通过并购，可以实现结构转型、结构调整，为什么？

因为并购还有一个作用，就是当你确定自己的转型目标，确定你要做什么事情，就可以通过并购来加快转型目标的实现，比如文化产业，我给自己定下的目标是，到2020年，万达院线要占全球市场份额的五分之一，但是，凭我们自己的力量去实现这一目标是很难的。

2020年我们有一个推算，世界电影市场可能会超过400亿美金，而那时中国会有100多亿美金。

那么，如果我们占到全部份额的20%，能把包揽中国市场？这是不可能的，那要怎么实现这个目标呢？文化产业做大了，就意味着地产比重下降，加之我们现在在加速去地产化。CXO UNION-CXO联盟（cxounion.cn）

所以我们就需要并购来促进这一目标的实现，例如我们之前并购了AMC，最近又并购了澳洲一家最大的院线，并购使我们实现了转型，因为通过并购，我们的文化产业占比就加大了，除此之外，我们进行了影视控股，包括制作、发行和院线放映。

六、万达要做体育控股

值得一提的是，我们还做体育控股，体育产业对万达来说是新鲜的，我们怎么做体育产业呢？就是通过并购，把万达体育产业做上去，首先，我们并购了盈方体育，为什么要并购它？

因为这家公司是资源类企业，什么是资源类企业？比如我们现在正在申办的2020年冬奥会，冬季奥林匹克有七个联合会，这七个世界体育联合会的版权和营销权都被这家公司掌握，也就是说，我们要看的冬奥会和冬季的各种比赛，都要通过这个公司购买，同时，这家公司还有世界杯的转播代理权等等，因此，我们并购它，就占领了体育产业的上游。

就这家公司现有规模，如果让它在美国和欧洲市场以每年10%的速度增长，前景和价值不太大，而我们买了它以后，它就要在中国落地生根，比如盈方体育现在正在运行我们的一个很大的体育项目，今年之内，万达至少还会并购三家体育类企业。CXO UNION-CXO联盟（cxounion.cn）

今年完成这些并购，万达在体育产业方面就是世界第一了，另外，我要求并购的体育公司，它们的运动项目都能在中国落地，同时这些公司要掌握这项运动在世界的产权或者营销权。

因此，实现转型的一个方法就是并购，当然，通过并购实现转型，不是所有公司都能做到的，一个最大的前提是拥有充足的资金，有了充足的资金才能并购。

我们将通过哪些措施来实现万达2020年的成功转型？现在看来，我们的决心大，有壮士断腕的勇气和强大的执行力。

我有一个判断，不用到2020年，可能到2018年，万达就会实现转型，那时，万达不再有房地产销售收入，完全去掉了房地产的痕迹，成为一个高科技服务型企业。CXO UNION-CXO联盟（cxounion.cn）

为什么是高科技服务型企业？因为我们做的文化产业，比如秀、电影乐园、主题公园都是高科技、服务型的，如果最近我们这几笔合同顺利签订，万达可能会比我们预计2020年提前三年实现彻底转型。

我给万达定下的目标是，我们要坚决实现“2211战略”，并在2020年排在世界前列，至少达到全世界的前三十名，万达要成为一个不仅卓越，而且伟大的公司，为中国的企业，特别是为中国的民营企业争光，从而实现个人的人生价值。

翻译：

Recently, Wang Jianlin, chairman of Wanda Group, said on Xinhuanet.com’s Syke lecture that since Wanda has decided to transform itself, it is not afraid to break the pot. Wang Jianlin also revealed that in the next week or so, Wanda will have a major announcement, which will stir up a lot of shock in the capital market and even in the whole industry.

Wang Jianlin, chairman of Wanda Group

Speaking about the departure of the CEO of Wanda E-commerce, Wang Jianlin also said that it is not right to regard the departure of any one person as a setback or influence on the company’s practice.

‘On the one hand, Wanda is bringing in new people, and on the other hand, for those who are not qualified for the position or who are not suitable for both sides, it is quite right to change the position,’ Mr. Wang said. ‘It cannot be understood as if it has any impact on the company.’

Transcript of Wang Jianlin’s speech:

I talked about the transformation of Wanda in a recent lecture, so today I will not repeat that in the Sicke lecture hall. Today I will focus on how Wanda achieved the transformation, or how Wanda achieved the transformation.CXO UNION-CXO联盟（cxounion.cn）

Now transformation is a very hot word, from the national level to emphasize the adjustment of industrial structure, from the enterprise level, from the micro is the transformation, the word transformation has been put forward for nearly 20 years, then called adjustment of industrial structure.

I think the whole industrial structure of the country has not realized the real structural transformation, including enterprises. Everyone is thinking, why should we transform? Why change a business model when it’s still there?

Transformation is for the future. Enterprises should pursue long-term stable cash flow. If an enterprise can survive after ten or twenty years, it is a successful transformation.

After Wanda proposed to implement the transformation several years ago, it put forward the goal of transformation — “2211 strategy”. By 2020, we aim to achieve a long-term goal of $200 billion in assets, $200 billion in market value, $100 billion in revenue and $10 billion in profit, and reduce the income from real estate to less than 30%.

Now it seems entirely possible to achieve our goal, not ahead of schedule, but to achieve a more radical transformation. We hope Wanda will no longer be a property company.

Say I am the “godfather of commercial real estate”, the actual godfather is not worthy, but the professor is worthy, because I was the first to do this industry.CXO UNION-CXO联盟（cxounion.cn）

In three to five years, I would like to get rid of “real estate” and become a business development company or a business services company, and we’re working on that.

Now the reason why Wanda can truly realize the transformation and start to go in the right direction, the most important issue is to determine the right direction of strategic transformation. The four industries identified are also characterized by synergy, and there is no blind leapfrog between each other.

Why do these things? The reason why the business should be capital-light is to develop faster. When the business develops, there will be added value on this platform, and then the theaters and children’s entertainment will develop faster.

In this way, the number of users will increase, and the increase in the number of users will generate more added value for Internet finance and e-commerce companies. Therefore, these four industries are built around the same platform. If this strategic direction is determined correctly, then the path will go smoothly.

First, what is Wanda’s strategic direction in the next ten years

Everyone is talking about transformation, but where and in what direction is it right? What are the medium – and long-term strategic goals?CXO UNION-CXO联盟（cxounion.cn）

Wanda has set a strategic direction for its transformation, which will revolve around four pillar industries for at least the next decade or so:

One is Wanda Commercial. Turn what was a basic company into a business services company, no real estate.

Second, cultural groups. Wanda Culture Group is a large concept of cultural group, including culture, sports, tourism and so on. The group has about four holding companies: film and television holding, sports holding, tourism holding and children’s entertainment.

Third, the financial sector. We will soon set up Wanda Financial Group. Before that, our financial layout has been basically determined. In the next one or two months, we will announce that Wanda will form a financial group, including banking, insurance, securities, payment companies, asset management, etc. Our financial group will be completely different from traditional financial groups.

Fourth, e-commerce. The e-commerce we are going to do is not the online trading of goods as you imagine (for details, please refer to Ma Haixiang’s blog “Wanda E-commerce does not sell goods in physical form, but does O2O e-commerce of life”). When we first proposed the company name, I discussed with Ma Huateng and Li Yanhong for a long time, but we could not use a long name, because from the perspective of marketing, The most memorable company name is no more than three words, too long people will not say.

There was once a company in South Korea, which realized the merger of two companies.

There was once a company in South Korea, which realized the merger of two companies. Now the name of the company has been changed, it used to be called Lexijin. It has its own football team and baseball team, but when the team plays, no one cheers for Lexijin.

Later, the company felt so strange that it invited a famous American marketing company to change its name. They spent 500 million yuan in that case, and finally it was called LG, which is a classic case of marketing.

In fact, when doing marketing, people say the name in one breath, generally can not be more than three syllables, whether it is English or Chinese, when we are ready to do e-commerce research for a long time, also feel that can not write a string of names, such as called electronic information value-added services, or finally be remembered by everyone is just e-commerce.

Second, transformation, is not afraid to break POTS and pans

In modern business operation, many companies do not do well or gradually decline in the process of doing so, which is not entirely due to strategic factors. The most fundamental factor is poor execution, that is to say, they have good ideas but have no ability to implement them.

If the company’s execution is insufficient or out of shape, then the company will not do well. How can Wanda achieve transformation? Is that we have strong execution to the end and the ability to execute transformation, such as business to asset-light issues.CXO UNION-CXO联盟（cxounion.cn）

Two days ago, I had a conversation with a famous entrepreneur. He said that he admired Wanda very much. He thought that over the years, we have a characteristic that we do what we say, including transformation.

I said that we do not mean transformation just because we mean transformation. For this purpose, we have formulated a series of systems and measures to ensure transformation, and we have taken a very firm attitude in implementing these systems and measures, which are linked to rewards and punishments and the appointment and removal of officials.

In China, Wanda has built a very good brand for itself, which is the ability to execute.

In China, Wanda has built a very good brand for itself, which is the ability to execute. Take the opening of Wanda Plaza for example, we will announce in September of the first year that we will open 20 or 30 plazas in the second year.

For example, we will announce in September that 55 Wanda plazas will be opened in 2016, and maybe more will be opened the year after that. These dozens of plazas, dozens of hotels, and large resorts will be opened on the day they are scheduled to open.CXO UNION-CXO联盟（cxounion.cn）

How hard is it to do that? This process is not the final say of the enterprise, there are many problems such as certificate, acceptance, so how to do it? This is because we have a set of work plan management module software, this software is patented worldwide.

Since the announcement of Wanda Commercial’s transformation and dematerialization, we have done two things: First, we transferred the asset-heavy projects that we have acquired land and will open after 2017. What is asset-heavy?

Is our own investment and housing sales slightly related to the project, and such projects, we will be determined to transfer. What does transfer mean? It means we lose some of our development profits and we don’t get the benefit of asset appreciation.

But we can make up our minds, let it go, let it go, let it go, let it go, let it go, let it go, let it go, let it go, why let it go? Because in return for the greater good, which is to concentrate our human resources, capital to do now asset light, what is asset light? It’s using other people’s money.

There are two ways:

the first is called direct investment, which means that institutions sign contracts with Wanda Commercial Real Estate directly. We are responsible for the design, construction, management, investment and so on. We share 30% of the rent.

The second is called crowdfunding. We launched a project called “Steady Earning No. 1”, which launched 5 billion yuan and started with 1,000 yuan for crowdfunding, which involved some internal regulations, such as how to circulate and how to guarantee income and so on. After the launch of this project, it was sold out on the first day, and a small part of it was sold out on the second and third day.

This shows that there is still a lot of excess funds in China looking for a way out, and there are not many stable products with high returns like ours. If we use this money to invest more quickly, we can get a lot of value-added things.CXO UNION-CXO联盟（cxounion.cn）

If we use this money to invest more quickly, we can get a lot of value-added things.

So, after really determining the strategic goal of transformation, how to implement this goal in place? This is a very important part of the transformation, that is, we need to have a strong ability to execute.

Since Wanda has decided to transform itself, it is not afraid to break the POTS and pans. In the next week or so, we will have a major announcement, which I believe will stir up great shock in the capital market and even in the whole industry.

Why did Wanda package so many profitable projects to others? Because I don’t want to develop profit, I want to pursue commercial rent increase, although I can get a dollar for every dollar I develop, but the cash flow must be realized through sales.

For example, if I manage for someone else, three 30% is 90%. At the same time, I don’t have any risk. Due to the change of the model, Wanda can expand to all the places where there are many people, which is also a reflection of our execution ability.CXO UNION-CXO联盟（cxounion.cn）

Why couldn’t Wanda Plaza expand to prefecture-level cities in the past? Can’t expand to the county seat? Because housing prices are not enough. Now we have only one criterion, as long as there are 400,000 people to invest in the place, so we are expanding at a very fast speed, from 26 this year to next year.

Third, not for the sake of transformation, to combine their own advantages

Transformation is not for the sake of transformation. It is not better than whose name sounds good, nor is it better than whose profit is higher, or which strategy is new or industry is new. A few days ago, a company in the capital market had a new network name, and the stock price went up all of a sudden.

The transformation should be based on the company’s foundation, talent structure, innovation ability and other aspects, combined with its own advantages. Take Wanda as an example, the biggest advantage of Wanda’s transformation is offline resources, and Wanda has the world’s largest offline consumption platform.

Last year more than 1.6 billion people spent at Wanda, and this year it will exceed 2 billion. Wanda’s e-commerce company is now signing open contracts, not only to manage its own, but also to manage large commercial centers outside.

We are combining the open platform construction with the internal development. According to our estimate, by 2020, the number of visitors to Wanda Plaza will reach at least 10 billion, and our target is to reach 15 billion.CXO UNION-CXO联盟（cxounion.cn）

According to the current active members of the network, once a month is more than 1 billion person-times, and according to our current statistics, the person-times to Wanda Plaza consumption is not only once a month, on average, about 20 to 30 times a year, we can include 600 to 700 million people in China, and these people are the backbone of consumption.

Since Wanda’s biggest advantage is the offline platform, our transformation is to give full play to the offline advantage, while combining the latest technology and future trends, to move in this direction.

Take the cultural industry as an example.

Last year, the net profit of Wanda commercial real estate was 24.8 billion yuan, the stock value was 250 billion yuan, and the net profit of Wanda cinema line was only 800 million yuan. From January to May this year, the rapid growth of tens of percent.

The market value has been more than 100 billion, now there are some mergers and acquisitions, mergers and acquisitions must be suspended, we will have a series of mergers and acquisitions put in, after the resumption of trading, there will be more growth than before the suspension.

Even according to the suspension of trading, its value is more than half of commercial real estate, so at the beginning of Wanda people, especially commercial real estate colleagues do not understand, Wanda cinema line only 800 million net profit, is our tail number, why the market value is half of our?

I’m saying you have to understand, because this is the future, the likes and dislikes of capital are the future, and if it has $4.8 billion in profits, it’s probably worth several times your market cap.

So now we are going to do the cultural industry, sports industry, we quickly develop “asset-light”, quickly grow this store, we have a clear plan, in 2020 to achieve at least 500 stores, 500 Wanda Plaza, if the signing of another 1000, it means more platforms.CXO UNION-CXO联盟（cxounion.cn）

For example, do cinema lines, children’s entertainment and do other cultural industries, on this platform will develop faster, this is to combine their own advantages.

For another example, we are now engaged in a new industry

For another example, we are now engaged in a new industry — tourism industry, which also combines our own advantages. In the past, we were engaged in cultural tourism, but how to do tourism was not quite clear. Later, Wanda slowly explored and found a brand called Wanda Cultural Tourism City. To host the King and Queen of Belgium to our Hanshow.

The brand has spread to Europe, there are a lot of tourists now, and of course we have a number of other tourism projects, we call Destination Building, we are investing in a dozen of them, and we have a goal of becoming the world’s largest tourism company by 2020. The largest tourism company in the world right now is Disney, 130 million visitors a year.CXO UNION-CXO联盟（cxounion.cn）

Our target in 2020 is 200 million person-times, and to achieve this goal, we need to rely on large-scale tourist resorts, one resort is basically 10 million to 20 million person-times, and more than a dozen of them are opened. This goal will be reached. There are a large number of Chinese people, and vacation is a kind of repeated consumption, not a one-time consumption.

In addition to the acquisition of some travel agencies, we also need to develop in a new direction. For example, we recently acquired a large travel website, which will be released soon. By combining offline platforms and offline channels, this transformation will be successful.

Now the film industry is very hot, China’s recent six consecutive years of sequential growth of 65%, my own judgment, within two years, the total film industry in China will exceed the United States in 2017, but you see this hot, if you have never done it, you should not blindly to transform, must combine their own advantages, develop strengths and avoid weaknesses.CXO UNION-CXO联盟（cxounion.cn）

Forth, there is no Internet thinking

First, it should not deify the Internet.

First, it should not deify the Internet. The Internet had a bubble burst in 2000, and now it is hot again. Some time ago, the Internet boom even reached the stage of deifying the Internet, and there was a new word called “Internet thinking”.

In fact, when the word first appeared, I criticized this saying, I think there is no Internet thinking, the Internet is a tool, how can there be Internet thinking?

Professor Xu Xiaonian wrote a very good article, he said, steam engine, can you say steam engine thinking? The telegraph, can you say telegraph thinking? All the new scientific and technological tools are just a relatively advanced tool, the use of tools superimposed in the industry can produce great value, but can not say that this tool is called the Internet thinking, in fact, “innovative thinking” is more reasonable.

Why is Wanda pursuing e-commerce? First of all, I would like to tell you that you should not be superstitious. You should not only rely on the Internet, books or science and technology. Many people in the industry have a fear of the Internet.CXO UNION-CXO联盟（cxounion.cn）

I said in the company, brave to go with the Internet, don’t be afraid, failure again. So we set up an e-commerce company. In order to absorb advanced nutrition, we brought in two partners (for details, please refer to Ma Haixiang’s blog “Wanda’s strategic plan to establish Wanda E-commerce jointly with Baidu and Tencent”).

Second, only the Internet plus industry has a future.

Although the online development is very fast in recent years, BAT three companies have emerged, and there are many excellent giants in China, but if the online operation continues completely, can you guarantee that you can still see this company in ten, twenty, thirty years? Not necessarily, so now a new theory has emerged in the global Internet world.CXO UNION-CXO联盟（cxounion.cn）

The idea that the future is the Internet of Things, that the pure Internet companies will be dead in five years, I think is a bit overstated.

China has also come up with a new slogan, “called Internet Plus”, which I think is a very wise slogan. If we just do the Internet economy, it is wrong. It should be the Internet plus economy.

This is why our transformation should be combined with the Internet. I think Internet + has a promising future. This is my opinion, and this is what we do within our group.

We set up our own financial group. Someone once named it Internet Financial Group. I removed the three words “Internet” and just did “Internet +”.CXO UNION-CXO联盟（cxounion.cn）

How does it do the Internet? How to + compatible?

That is to combine with e-commerce companies, e-commerce company Chengdu Big Data Company will be opened in October, now has been developing members, after joining the membership will bind your mobile phone number, through the fast money payment system, will form a data center.

Our largest offline resources are merchants. Now there are more than 100,000 merchants. If we go according to the set target, Wanda will have at least 500,000 merchants by 2020.

The more types of business in the business center, the better, and the more types of experience, the better. Those small merchants all have POS cash registers. Our e-commerce company is developing a cloud POS, which can be used for face payment, mobile phone payment, and card payment for middle-aged and elderly people.CXO UNION-CXO联盟（cxounion.cn）

Now the first generation of cloud POS has been successfully developed, and the cost of one is 8000 yuan, which is too high. I require a smaller size and reduce the cost to less than 3000 yuan. Once the second generation is successfully developed, it will be rapidly promoted in Wanda.

By then, the bank we acquired will not have to open a physical branch offline, but will be able to issue loans to you by using the cash register to grasp your information. This loan overturns the credit model of all traditional commercial banks, that is, to rely on credit, mortgage first and then lend money.

If you’ve been in my operating system for more than a year, I can figure out what your cash flow was in the previous year, so if you had $3 million in cash flow in the previous year, we can figure out that your costs are about 70% of your cash flow.

We’ll give you a $1 million line of credit right away, and if you apply for a loan, we’ll give you a second within the line of credit.

How do I pay? This is combined with our data system. For example, a one-year loan is cut into 365 days or a two-year loan into 730 days. Each payment is cut off by itself according to 1/365, which is safe and guaranteed.CXO UNION-CXO联盟（cxounion.cn）

E-commerce company is another kind of business model. We emphasize the transformation of Wanda very much. We pay special attention to one point: Internet + industry, or industry + Internet, so as to succeed.

Fifth, wanda wants to be an outstanding and great company

Mergers and acquisitions have two functions: the first function is to achieve large-scale development through mergers and acquisitions. I never refer to the world’s top 500 companies as the top 500 companies, but refer to them as the Top 500 companies. There is no company in the world’s top 500 companies that has developed completely through its own development and achieved such a large scale.

Because another function of M&A is that when you determine your transformation goals and what you want to do, you can accelerate the realization of transformation goals through M&A. For example, in the cultural industry, I set a goal for myself that Wanda Cinemas will account for one-fifth of the global market share by 2020. However, it is difficult for us to achieve this goal by ourselves.

In 2020, we have an estimate that the world film market may exceed 40 billion dollars, and China will have more than 10 billion dollars at that time.

So, if we take 20% of the total share, can we dominate the Chinese market? That’s impossible, so how do you get there? The expansion of the cultural industry means a decline in the proportion of real estate. In addition, we are now accelerating the de-real estate.CXO UNION-CXO联盟（cxounion.cn）

So we need mergers and acquisitions to achieve this goal. For example, we acquired AMC, and recently we acquired one of the largest cinemas in Australia. Mergers and acquisitions have transformed us, because through mergers and acquisitions, our share of the cultural industry has increased.

Sixth, Wanda wants to do sports holding

It is worth mentioning that we also do sports holdings, sports industry is new to Wanda, how do we do sports industry? It is through mergers and acquisitions to build Wanda Sports industry. First of all, we have acquired Infront Sports. Why do we want to acquire it?

Because this company is a resource company. What is a resource company? For example, we are now bidding for the 2020 Winter Olympic Games. There are seven federations in the Winter Olympic Games, and the copyright and marketing rights of these seven world sports federations are all controlled by this company. In other words, the Winter Olympic Games and various winter competitions we want to watch must be purchased through this company. We buy it, we’re in the upper reaches of the sports industry.

Given the current size of the company, if we allow it to grow at 10% a year in the US and European markets, the prospects and value are not very big, but after we buy it, it will have to take root in China. For example, Infront Sports is running one of our big sports projects, and Wanda will acquire at least three other sports companies within this year.

By completing these mergers and acquisitions this year, Wanda will become the world’s largest sports company. In addition, I require the acquisition of sports companies, their sports can be established in China, and these companies should control the property rights or marketing rights of the sport in the world.

Therefore, one way to achieve transformation is merger and acquisition.

Of course, not all companies can achieve transformation through merger and acquisition. One of the biggest premise is to have sufficient capital. And only with sufficient capital can merger and acquisition be achieved.CXO UNION-CXO联盟（cxounion.cn）

What measures will we take to achieve a successful transformation of Wanda in 2020? Now it seems that we have great determination, great courage and strong execution.

I have a judgment that Wanda will realize its transformation not by 2020, but maybe by 2018, when Wanda no longer has real estate sales revenue, completely removes the traces of real estate, and becomes a high-tech service company.

Why high-tech service enterprises? Because our cultural industries, such as show, movie park and theme park, are all high-tech and service-oriented, if our recent contracts are successfully signed, Wanda may achieve a complete transformation three years earlier than our estimate of 2020.

My goal for Wanda is that we will resolutely realize the “2211 strategy” and rank among the top 30 in the world by 2020. Wanda will become not only an outstanding but also a great company, winning glory for Chinese enterprises, especially for private enterprises in China, so as to realize the value of personal life.

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