Many people can&;t understand this acquisition, but they just think it&;s weird, but we don&;t think it&;s weird, and we understand why Wanda did it. Sunac acquires Wanda&;s assets, and the annual rate of return of these assets in Sunac&;s hands is, for example, 10%, then Sunac will acquire this asset, because the rate of return on assets is higher than that of bank loans. When Wanda lends money to Sunac, it can get stable interest every year, while the current three-year bank loan interest rate is about 5%, which means Wanda can get interest of 1.48 billion yuan every year. However, another account has to be calculated. If the equivalent assets of 29.6 billion yuan are not sold, the profit from operating in Wanda&;s hands will reach 5%, which is actually the same as the income from capital lending. In other words, Wanda made a profit of 1.48 billion yuan through real estate management, which is exactly the same as the interest of 1.48 billion yuan obtained through lending. This can also reduce your heavy assets, and the problem of heavy assets has been reported on the Internet quite a lot, so I won&;t go into details. Relevant data show that Wanda signed a gambling agreement when it delisted, and it will be listed on A shares in 2018 at the latest. If it is not listed by then, it will buy back those people who invested at the beginning to make compensation at a fixed rate of return. Of course, this will also affect Wanda&;s decision to borrow money to acquire its own heavy assets from Sunac. From the current point of view, Wanda&;s operating profit rate in real estate is higher than that of its peers, but it is definitely higher than the annual interest rate of 5%. It can only show that Wanda currently lends money to Sunac at a price to acquire its own high-return assets, in fact, in exchange for the success of A-share listing. This is understandable, not weird! The key point is that many people can&;t understand that both assets and funds actually have returns. In a fully competitive market economy, the returns of the two should be the same. However, after all, in the period of rapid economic expansion and development, the return on funds is depressed, and the return on assets is relatively normal, which is in line with the national conditions. Therefore, Wanda&;s acquisition of its own assets by borrowing money from Sunac is definitely not a cost-effective deal. However, due to other factors (A-share listing gambling agreement is most likely), it is disposed of at a low price as soon as possible.