Seven months after a temporary consumption restriction order was imposed on him, Wang Jianlin, founder of Dalian Wanda Group, is now facing a new debt obligation of over 3.8 billion yuan ($538 million) following a legal victory by Yonghui Superstores Co.,Ltd.
A 20-day deadline for payment has begun. Will Yonghui Superstores show leniency towards Wang Jianlin?
The dispute stems from a股权转让 agreement. In December 2023, Yonghui Superstores agreed to sell its approximately 1.43% stake in Dalian Wanda Commercial Management for 4.53 billion yuan to Dalian Yujin. The payment was scheduled in eight installments, with the final payment due by September 30, 2025. Wang Jianlin provided a personal guarantee for this debt.
However, Dalian Yujin defaulted on subsequent payments. After granting an extension and restructuring the payment schedule, Yonghui Superstores initiated arbitration in October 2024 when payments were missed again.
On April 14, the Shanghai International Economic Trade Arbitration Commission ruled in favor of Yonghui Superstores. The arbitration tribunal ordered Dalian Yujin to pay the remaining 3.639 billion yuan in transfer fees, plus approximately 218 million yuan in accelerated maturity违约金, legal fees, and other costs, totaling over 3.857 billion yuan. Wang Jianlin bears joint and several liability as the guarantor.
This means if Dalian Yujin cannot repay, Yonghui Superstores has the right to directly claim the entire 3.857 billion yuan from Wang Jianlin's personal assets.
This new personal debt adds to the significant financial pressures facing Wang Jianlin and the Wanda Group. As of the end of 2025, Dalian Wanda Commercial Management had total liabilities estimated between 299-320 billion yuan, while the wider Wanda Group's total debt is approximately 600 billion yuan. The group faces a short-term debt repayment gap of 28.4-52.9 billion yuan, against cash reserves of only 13.3-15.1 billion yuan.
Wanda has been selling assets, including over 80 Wanda Plazas, to alleviate liquidity pressure, but its total debt remains high. The group also faces numerous legal cases, with 167 lawsuits where it is the defendant, involving claims of 14.92 billion yuan.
Legal experts note that Yonghui Superstores can now pursue enforcement against Wang Jianlin directly, potentially seizing domestic and overseas assets. The 20-day window for the defendants to fulfill the payment obligation is now counting down. The question remains whether Yonghui Superstores will enforce the ruling strictly or grant another reprieve to the 71-year-old former richest man in China.
Comments