BEIJING — Dalian Wanda Group, the Chinese conglomerate, tore up a $9.3 billion agreement to sell a portfolio of hotels and theme parks, unexpectedly reaching new deals on the properties that highlighted uncertainty over the financial health of the country’s biggest companies.

Wanda had reached an overall agreement with the property firm Sunac China Holdings last week, but Wanda announced at a signing ceremony on Wednesday that it was backtracking and would instead sell just the theme parks to Sunac. The hotels will instead be sold to R&F Properties, based in the southern Chinese city of Guangzhou.

The hasty reorganization of the deals has raised concern about the due diligence conducted by many of China’s first-generation dealmakers as they seek to become bigger players domestically and around the world. It is also further evidence that Chinese companies have been under greater official pressure to reduce their piles of loans, because the financial authorities have been alarmed that debt-fueled acquisitions by conglomerates could put the broader Chinese economy at risk.

“I have not heard of such a dramatic turnabout,” said Victor Shih, an associate professor at the University of California, San Diego, who specializes in the politics of Chinese banking policies. “If it turns out to be government pressure, it would be typical of what we have been seeing — the government becoming more interventionist in the financial markets,” he said.