Wang Sicong's assets frozen and on the verge of bankruptcy
Published on December 17, 2024 11:05AM EDT By Nancy Miller

This is not the worst news of the day. There has been recent news that shares in Daozong Wang Sicong related companies have been frozen, including Pushi Capital, which is controlled by Wang Sicong, and a number of companies under the Banana Program. According to Tianeye data, Wang Sicong serves as legal representative in 20 companies, shareholders in 33 companies, has actual control over 108 companies, and has 950 peripheral risk information. According to the interface report, Wang Sicong's execution came from the closure of the panda live broadcast, and the parties concerned have applied for judicial arbitration and property preservation. It is said that although the live panda broadcast was shut down as early as half a year ago, Wang Sicong signed the burden. Insurance repurchase agreement, which allows panda live broadcast after the dissolution of the debt directly fell on Wang Sicong.

Four years ago, when the first product form of live broadcast in China became a fresh air for everyone's mind, Wang SiCong, who was playing games at the age of 16, spent the foreign night, had conceived a bigger blueprints. In 2015, the overall scale of China's cultural and entertainment industry reached 450 billion yuan, and the Chinese film box office reached 44 billion yuan. With the rise of Chinese consumption volume and the proportion of young people in China's consumption structure, the consumption of entertainment is increasingly valued. Wang SiCong said in an interview that if only investment, the control over the layout of the core links of pan-entertainment is not enough, so it is necessary to create Panda TV. At that time, Wang Sicong's expectations of panda TV were more like television stations of the new era. To this end, Wang Sicong has a bigger layout. After the acquisition of CMM into IG in 2011, Wang Sicong's banana plan, which includes games, sports, brokerage performances, movies, music and other subsidiaries, can be said to be a completely younger pan-entertainment territory, which began in June 2015. As a platform, Panda TV is the core hub in the plan to connect e-sports, games, performances, sports and other industries.

Perhaps, for Wang Sicong, the layout failure in pan-entertainment is just a social practice to learn how to bow. In the past ten years, with Wang Sicong's ambition to die together, in addition to his Weibo, there were good times.

The Beijing CBD Wanda Plaza, which is located in the People's Republic of China, is the headquarters of Wanda Group in Beijing. The reason for the winter is that the roadside population is scarce, but the security of the building in recent months has been busy, as the owner, the owner of the square, is also the owner of the square.

In the dramatic period of half a year, a short message from the panda's live, COO, Zhang Juyuan, announced the death of the live of the panda, and its shock continued. In addition to the more or less pressing of the financial situation of Mr. Wang, the live broadcast of the panda has indirectly led to the retreat of Wang Sig in the public opinion field. If it is not the beginning of this month, there is a net friend who has "clear" the blog, few people will realize that Wang Sig has not spoken to the micro-blog for half a year, and only a few of the public opinion sounding is left in a more private circle of friends. In the context of social media, Mr. Wang is a "Entertainment Circle Discipline Inspection Commission", making the most of the money that the vast majority of people can't earn. He said that most of the people dared not speak, and were also regarded as the typical of both the talent and the work. Based on live broadcast, electric competition and entertainment companies and an investment fund that is based on 500 million founding funds by Wang Jianlin, Mr. Wang was on the list of the "Hurun 100-rich list" at the end of 2015. In 2017, it became the first of China's top-level investors, and live on the panda. The cultural empire that the banana plans to play is also the capital that Mr. Wang was able to show off.

However, being executed is not tantamount to breaking promises, and Wang Sicong still has a distance from "Lao Lai" and "whether or not to pay back on time." Some lawyers told AI that if Wang Sicong fulfilled the relevant obligations on schedule after receiving the enforcement notice, there would be no follow-up effect. On the other hand, as Wang Sicong has pledged shares in Pushi Capital to Wanda, it will not have an impact on his personal financial situation. Moreover, it is hard to imagine that Wang Sicong will be trapped in this 150 million debt. On November 7, Forbes released the 2019 list of China's richest people, although Wang Jianlin's ranking fell from fourth last year to 14th this year. But its total wealth is still as high as 88.39 billion yuan.

(picture source:搜狗图片)

The fall of the richest son seems to cause social media revelry at any time. Wang Sicong 100% holding Pushi Capital is said to be in Block A, Room 1605. Although we can't find the famous brand of Pussie Capital, there are still some people trying to try their luck. Some people break through the layers of obstacles to the front desk of Pussie Capital, and only get a single reply that "unaffected, the strength of the company is there." Wang Sicong is short of money. This is the most important news that the public has digested in nearly two days, and may also be the only news that the masses care about. As the only son of the chairman of Wanda Group, Wang Sicong recently disappeared on Weibo, but no one thought he would be with him. The lack of money is linked. It was not until the morning of November 6, according to the China Executive Information publicity Network, that Wang Sicong was in debt. In the execution book issued on November 4, 2019, Wang Sicong was listed as the executor, the target of which was 151437841 yuan, and the executive court was the second Intermediate Court of Beijing. This time, his label is "subject to execution", not "discipline Inspection Commission of the Entertainment Industry" and "National husband".

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