3.8 billion debt suddenly landed on his head, Wang Jianlin is on the verge of collapse. Former business partners turned enemies, Yonghui Supermarket chasing Wanda Commercial Management for debt, after a year and a half of litigation, the arbitration unexpectedly favored Yonghui. The ruling shows that Dalian Yujin needs to pay Yonghui Supermarket 3.64 billion yuan, plus 220 million yuan in breach of contract damages, totaling 3.86 billion yuan in huge debt, while Wang Jianlin, Sun Xishuang, and Dalian jointly bear joint guarantee responsibilities. This is equivalent to the 3.8 billion debt suddenly pressing down on Wang Jianlin, but the business world is like a battlefield; this time, the problem is not with Yonghui, nor can it be blamed on Yonghui for not remembering old feelings.

The situation, simply put, is not complicated. As early as 2018, before Wanda's 38 billion yuan listing bet, the then financially strong Yonghui Supermarket invested 3.53 billion yuan to acquire a stake in Dalian Wanda Commercial Management, taking over 1.43% of the shares from Dalian. Sun Xishuang was the boss of Dalian. The relevant betting clauses signed at that time stated that Wanda would not be able to list by the end of 2023, which somewhat overlapped with the 38 billion yuan listing bet. Yonghui then demanded Wanda and Wang Jianlin to buy back the shares at an 8% annualized return. There was a written contract, and thus Sun Xishuang's Dalian Yujin stepped in to take over, with Yonghui exiting Wanda's equity at a valuation of 4.53 billion yuan. Compared to the initial bid, the money Yonghui managed to get was equivalent to earning 1 billion yuan in pure profit over five years, which is not at all a loss.
Unsurprisingly, the unexpected still happened. Sun Xishuang, the boss of Dalian Yujin, has a close relationship with Wang Jianlin. The two companies have many collaborations in real estate, cultural tourism, and other fields. As Wanda's betting failed and a financial crisis erupted, Sun Xishuang also followed suit.