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Subdued Growth No Barrier To Wanda Hotel Development Company Limited (HKG:169) With Shares Advancing 27%
Wanda Hotel Development Unit to Enforce Mortgage to Recover Defaulted Deferred Amount
WANDA HOTEL DEV (00169.HK): Zhang Chunyan has been appointed as a non-executive Director.
Gelonghui, January 2nd丨WANDA HOTEL DEV (00169.HK) announced that Zhang Lin will resign from the position of Non-Executive Director due to changes in his work arrangements starting from January 1, 2025. Starting from January 1, 2025, Zhang Chunyuan has been appointed as Non-Executive Director.
Consumer potential has been validated by data! Hong Kong stock tourism concept stocks have been popular for several consecutive days, with meilan airport rising nearly 13%.
① Hong Kong stocks in the travel concept sector have been popular for several days; what bullish factors are driving the sector's trends? ② The potential for travel consumer spending has been validated; how do institutions view it?
Wanda intends to establish a 90 billion yuan fund to pay taxes and debts.
According to sources quoted by the media, Dalian Wanda Group is planning to establish a fund with assets of commercial real estate assets held, ranging in size from 50 billion to 90 billion yuan, to raise funds to pay taxes and debts. As one of the few large real estate companies in China's real estate crisis that has not defaulted on its debt, the news indicates that Wanda Group's management recently held a meeting with bondholders in Hong Kong, revealing that the goal is to complete fundraising by 2025. This year, the group sold Wanda Commercial equity to a consortium led by PAG, with funds expected to be partially used to pay for the transaction's impact over the next two years.
China Merchants Securities: Slight increase in National Day travel, volume increase, price stability, and trend towards improvement.
China Merchants Securities released research reports stating that during the 2024 National Day holiday, domestic tourism visits increased by 5.9% year-on-year, domestic tourism revenue increased by 6.3% year-on-year. Overall, domestic income and visits during the National Day period are steadily improving. The average travel expenditure per person has already approached the level of the same period in 2019, and the overall travel data meets market expectations.
