Does 188bet sports betting’s complete de-realization still count?

Although 188bet sports betting refuted the rumors，But its de-realization is already the consensus in the circle。

On January 29, 188bet sports betting, which was suffering from capital liquidity problems, introducedTencent, Suning, Sunac, JD.com"Four Powerful Families"，Planned investment of about 34 billion yuan，Acquired approximately 14% of the shares held by investors introduced when 188bet sports betting Commercial Hong Kong H shares were delisted。

In Tencent Technology’s press release，188bet sports betting’s purpose and follow-up plans for this signing are also clear，Name“After 188bet sports betting introduced new strategic investors，188bet sports betting Commercial will be renamed 188bet sports betting Commercial Management Group，Digest the real estate business within 1 to 2 years，188bet sports betting Commercial Management will no longer conduct real estate development in the future，Become a pure business management and operation enterprise，All parties will promote 188bet sports betting Commercial Management Group to be listed as soon as possible”。

The market is not surprised that 188bet sports betting Commercial will no longer conduct real estate development。

But January 30th，188bet sports betting issued a statement on its official website，“188bet sports betting will completely withdraw from real estate” is purely a misunderstanding，The message clearly stated that 188bet sports betting Commercial Management Group, a subsidiary of 188bet sports betting Group, will no longer conduct real estate development。The 2017 annual report of 188bet sports betting Group clearly stated that a real estate group will be established this year，Continue to develop 188bet sports betting Plaza’s heavy asset and other real estate businesses。

On the contrary, the market was a little surprised by this subsequent refutation of the rumors.

No other reason，Because 188bet sports betting’s de-realization has been implemented for many years，And has always been called a model of transformation in the industry。What’s more important，Annual Meeting on January 14, 2017，Wang Jianlin announced again，188bet sports betting Commercial will in principle no longer be asset-heavy after 2020，All asset-light。Also mentioned in an article previously published on 188bet sports betting’s official website，“188bet sports betting only sold the reinforced concrete body，Leaving behind an asset-light soul”，“188bet sports betting bids farewell to real estate completely，From then on, we embarked on the road of asset light”。Data display，188bet sports betting Group’s overall revenue in 2016 was 2549.800 million yuan，55% of revenue comes from the service industry。

2017，Although 188bet sports betting did encounter difficulties，But 188bet sports betting’s level of asset-light operation and the positive results it brings are there，So,It is not surprising that 188bet sports betting mentioned in its cooperation with Tencent that it will not conduct real estate development in one or two years，Because this is highly consistent with the “small goal” for 2020 mentioned by Lao Wang。

Is 188bet sports betting’s asset-light strategy feasible?

Data is the most convincing.

According to data released by 188bet sports betting at its annual meeting on January 14, 2017，188bet sports betting Group’s 2016 revenue 2549.800 million yuan，188bet sports betting Commercial Income 1430.200 million yuan，Complete the planned 100.4%，25% decrease year-on-year；However, 188bet sports betting Commercial’s net profit still increased year-on-year。A company’s revenue decreases by a quarter，Net profit is still growing，Indicating that the quality of income has improved significantly。Also，Culture、Travel、Sports、Children’s Entertainment、Finance and 188bet sports betting Department Store and other sectors have achieved growth，188bet sports betting is becoming less and less dependent on pure real estate development，That’s why Lao Wang said at that time that he would no longer engage in asset-heavy activities in 2020，No one will doubt it。

188bet sports betting faced a series of crises in 2017，Lao Wang first put 13 188bet sports betting cities，More than 70 hotels were packaged and sold to Sun Hongbin and Li Silian，Sold a bunch of 188bet sports betting Plazas to Zhu Mengyi，Sold Changbai Mountain Resort to Sun Shuangxi，No matter how the outside world interprets it，How many other reasons，This is actually it“Asset-light operation”.

188bet sports betting accelerates its “asset-light” journey

January 20 this year，188bet sports betting held its 2017 annual meeting in Harbin，Wang Jianlin announced 188bet sports betting’s 2017 performance data at the meeting。2017，188bet sports betting Group achieved revenue of 2273.700 million yuan (16.2 billion tourism revenue cannot be reported together)，Of which commercial real estate income 1125.400 million yuan，Complete 104 of the annual plan.1%。Wang Jianlin said，188bet sports betting has gradually reduced the real estate category，And put service movies and TV shows、Sports and cultural tourism are listed as the focus of the company’s development。

We can better see 188bet sports betting’s determination from its 2018 plan: planned revenue of 247.9 billion yuan，Of which commercial real estate income 1245.400 million yuan，Cultural Group 73.3 billion yuan，Culture accounts for nearly 60%。188bet sports betting takes commercial real estate as its core，Assets accumulated through commercial real estate、Brand，will pave the way for these service industries。

188bet sports betting’s asset-light operating model is very popular in the industry，With less investment，Leverage more profits，Vanke’s “small stock trading” is one of the typical examples。188bet sports betting’s asset-light model is as follows: other companies use money to place orders，188bet sports betting is responsible for finding land、Construction、Investment and Operation，Everyone will share the rent together in the end。According to data released by Wang Jianlin at the 2017 188bet sports betting Annual Meeting，188bet sports betting’s rental income reached 255 in 2017.200 million yuan，Complete 101 of the annual plan.4%，30 year-on-year increase.3%。Rent collection rate 101%，Created a rent collection rate of 99 for 12 consecutive years.World industry record of more than 5%。This is an amazing record，188bet sports betting Commercial’s operation and management capabilities，Definitely able to support its asset-light strategy going forward。

The industry consensus is，The key to 188bet sports betting’s transformation lies in 188bet sports betting’s business transformation，The key to 188bet sports betting’s business transformation is to transform from a single asset-heavy enterprise to an asset-light enterprise、An enterprise that develops both light and heavy tasks。So judging from the trend，Reduce real estate，Improving business services and management is still 188bet sports betting’s constant path。

Of course，Transformation is undoubtedly painful，Especially during the current difficult times the company is facing。188bet sports betting Commercial delisted from H shares on September 20, 2016，Always seeking to be listed on the A-share market，If there hadn’t been this turmoil in 2017，188bet sports betting Commercial has so many excellent assets，It seems that there is no difficulty in landing A shares。This time Tencent and other four giants came to support 188bet sports betting，was interpreted by the outside world as helping 188bet sports betting raise "bridging funds"，Settling the "old accounts" from the 2016 privatization。

188bet sports betting Commercial is changing into business management, this is the right step!

It is understandable that 188bet sports betting denies withdrawing from real estate.

Although real estate tycoons complain about state regulation，And there is Ren Zhiqiang’s “Chamber Pot Theory”，But huge profits from real estate development still exist，188bet sports betting cannot completely cut off in a short time，Especially when 188bet sports betting is currently in financial difficulties。And real estateCash Cow EffectObviously，21st Century Business Herald quoted statistics from the Centaline Real Estate Research Center，As of February 3 this year，A total of 82 listed real estate companies announced their 2017 performance forecasts。The performance forecasts of 60 companies are pre-profit and pre-increase，Accounting for 73%，Only 8 companies are expected to lose money，Less than 10%。These 8 companies are basically in the process of transformation。In other words，Real estate companies basically achieved an explosion of profits across the board in 2017，Prosperous Development in the Period、Xincheng Holdings、Sunshine City and other real estate companies have changed due to changes in settlement area and project structure，Estimated performance growth in 2017 will reach 39% respectively、80%、83% (median value of forecast interval)，Leading real estate company investment Shekou、Poly Real Estate、Greenland Holdings’ performance growth is around 25%。

Is it easy to make money in real estate？Making quick money is like taking drugs，I can’t stop after one sip。

But with the beginning of 188bet sports betting’s transformation，And the leading real estate companies in the past two years with its financing、Control、Brand and other advantages，Market share continues to increase，188bet sports betting has lost the opportunity in development。The sales of the top 100 real estate companies in 2017 increased by 42% year-on-year.9%，TOP10 market share increased from 18 in 2016.4% increased to 24.2%。188bet sports betting’s sales amount in 2017 was 891.200 million yuan，The leading real estate company Country Garden、Vanke、Evergrande has exceeded 500 billion，17 real estate companies with over RMB 100 billion are developing this area，188bet sports betting is already in the third tier。

Use your own shortcomings to compete with others’ advantages，Unwise，Especially for people like Lao Wang who “have to be the leader in everything”。

For 188bet sports betting，Using Tencent and others to invest heavily in shares，Transform 188bet sports betting Commercial into 188bet sports betting Commercial Management，In fact, it’s a clever move。In the real estate circle，You can still make a lot of money without doing development，If you think 188bet sports betting Commercial is a special case，There is another example to illustrate，That’s Greentown Management Group。At the sixth E-House Wharton training class on January 5th，Director of Greentown Management Group、Introduction by General Manager Li Jun，As a leading company in China’s real estate construction agency industry，Greentown Management exports through brand、Management Output、The business model characterized by resource output has gained deep market recognition，Sales reached more than 70 billion in 2017。In China’s real estate industry，If based on rankings，70 billion sales ranked approximately 30th in 2017，Greentown Management did not spend a penny to achieve 70 billion，This is unique in China。The sales amount of Greentown China in 2017 was only 1457.100 million yuan。

Same as 188bet sports betting’s business management，Agent construction also tests the management level of a company，For example, establish a standardized product system，Through "Kongzong、Guanfen、Strict closing and strict cost control，With flexible decontamination strategies and high-quality property services，Finally increase the project premium level。So from this perspective，Greentown’s construction agency is the same as 188bet sports betting’s business management，They are all successful explorations for transformation。

Of course，Although the agency construction has brought huge benefits to Greentown，But it will not cut off real estate development in a short time，188bet sports betting will need a process to really put down development。

In 188bet sports betting’s 2018 plan，50 newly opened 188bet sports betting Plazas，188bet sports betting Mao 2；Real estate income 87.9 billion yuan；7 newly developed asset-heavy 188bet sports betting Plazas；50 asset-light 188bet sports betting Plazas，40 of them are cooperation categories，10 investment categories。These all need to be supported by real estate development，And 188bet sports betting has no reason to suddenly throw away this piece of fat。

So,188bet sports betting’s transformation is inevitable and successful，But as long as China’s real estate can still make huge profits，As long as 188bet sports betting is still involved in the real estate industry，The development will not be completely cut off。The trusted way is，The proportion of development is getting smaller and smaller，Business management will become the absolute mainstream in the future。

*thisText source: WeChat public platform "Qin Shuo Moments" (ID:qspyq2015）, Author: Liang Yunfeng, original title:《188bet sports betting denies withdrawing from real estate? Who knows Lao Wang’s good intentions!》