Wanda Group (simplified Chinese: 万达集团; traditional Chinese:
萬達集團; pinyin: Wàndá Jítuán), or
Dalian Wanda (Chinese:
大连万达), is a Chinese multinational conglomerate based in
Beijing. It is the world's biggest private property developer and
owner of the world's largest cinema chain,
Wanda Cinemas and the Hoyts
Group, as well as a majority share of AMC Theatres.
With investments within Mainland
China and globally, the
group has since diversified its portfolio to include investments
across a wide variety of industries including construction,
entertainment, media, industrial manufacturing, financial services,
high technology, hospitality, real estate, retail, health care, and
sports. It was established in Dalian,
Liaoning and is now
headquartered in Beijing. It ranked 380th on the Fortune Global 500
List in 2017. In 2017, its assets amounted to 700 billion yuan and
an annual revenue 227.4 billion yuan ($35.29 billion). Wanda Cultural
Industry Group is China’s largest cultural enterprise, which
includes movie theaters, sports and film-production assets,
contributed 28% or $10.85 billion to overall revenue.
1.1 Diversification push
1.2 Initial public offering
4 See also
6 External links
The company was founded in Dalian, Liaoning, in 1988 as a residential
real estate company by businessman Wang Jianlin. Incorporated in
1992, the company was "one of the first shareholding companies in the
PRC" after the economic reform.The company started to use "Wanda"
since then. "Wan" means ten thousand, refers to everything. "Da" means
reach, refers to goals being reached. "Wanda" indicates everything
Since 2005, recent years Chinese property developers like Dalian
Wanda and Evergrande have made forays into "alternative,
income-generating businesses away from the property market". The
Financial Times noted that
Dalian Wanda was the "most aggressive" in
pursuing this strategy, pointing to its 2012 acquisition of U.S.
AMC Theatres and 2013 purchase of British yachtmaker
Sunseeker. It noted that it was also "building theme parks across
China, and has a joint venture with
Baidu to set up an
Dalian Wanda acquired the U.S.-based cinema operator
AMC Theatres in
May 2012 for $2.6 billion, the largest Chinese acquisition of an
American company to that date. The acquisition went through
successfully in August 2012, making
Wanda Cinemas the world’s
largest cinema operator. As of 2016, Wanda owns approximately 6%
of all commercial movie screens in China, and about 13% in the
U.S. The company made major changes in AMC theater design and
layout, including generously sized reclining seats, waiter service,
and expanded food and drink offerings. Ticket sales at AMC nearly
doubled in the 18 months following the acquisition, and by the end of
2014 Wanda had reaped a reported profit of about US$900 million.
AMC also co-owns of
Open Road Films
Open Road Films and Fathom Events.
In June 2013,
Dalian Wanda planned to invest $1.1 billion to develop a
new five-star hotel in
London next to the
Thames River in Vauxhall,
South London, as part of the
Nine Elms regeneration. Mayor of
Boris Johnson welcomed this move. It is building "Western
Europe’s tallest residential building". Plans were scrapped in
In June 2013,
Dalian Wanda acquired
Sunseeker International, a
UK-based maker of luxury yachts used in the
James Bond movies, for
$500 million. This acquisition will give them a 92% stake in the
In January 2015,
Dalian Wanda purchased an office building in Sydney,
Blackstone Group for around $327 million. The
company is "aggressively expanding overseas to move away from China's
property market, which has been hit by a slowing economy".
In June 2015,
Wanda Cinemas announced that it had acquired Australian
cinema chain Hoyts.
In November 2015, it was announced that a holding company, Wanda Film
Holdings, will group all film-related assets.
Dalian Wanda plans for a skyscraper in Chicago to be called Wanda
Vista, designed by Chicago architect
Jeanne Gang and will become the
city's third-tallest building. If completed, it will become the
tallest building in the world designed by a woman, passing Chicago's
On January 11, 2016,
Wanda Group acquired
Legendary Entertainment for
$3.5 billion. The acquisition of Legendary made Wanda Film Holdings
the highest revenue-generating film company in the world.
In May 2016,
Wanda Group acquired Propaganda GEM. The Entertainment
Marketing and product placement agency becomes part of Wanda Group's
focus on entertainment but also Hollywood content.
Wanda Group also owns 20% of Mtime.
In September 2016, Wanda announced a major partnership with Sony
Pictures Entertainment, in which it will take minority investments in
a number of upcoming releases. Sony stated that Wanda planned to
China element in the films in which it invests". The
deal came in the wake of Wanda's failed bid to acquire a stake in
In November 2016, Wanda announced it would buy Dick Clark Productions
for around $1 billion. However, the deal fell through, with
Bloomberg citing increasing regulation of Chinese investments both
domestically and in the United States, and
financial struggles in Wanda's real estate business.
In May 2017, Wanda announced it would invest $3.3B by 2024 in
EuropaCity, a mega-project near Paris' Charles de Gaulle airport that
will boast a theme park, attractions, cultural exhibitions, retail
shops, outdoor sports venues and restaurants over about 200 acres.
It's Wanda's biggest-ever single project in Europe. Its other offshore
real estate interests include a major development on the banks of
London's River Thames and plans for an industrial park in India at a
In July 2017, Wanda launched the grand opening of Danzhai Wanda
Village, a $200 million project of Wanda's poverty alleviation.
In July 2017 it was reported that the group was selling a number of
theme parks and hotels for $9.3 billion to Chinese property developer
In August, Wanda invested $2.14 billion in healthcare industry and
launched the Healthcare Group. Wanda cooperates with International
August 9, 2017,
Wanda Group announced acquisitions of Wanda Culture
Travel Innovation Group and Wanda Hotel Management Co. in a major
restructuring. In a filing posted on the Hong Kong Stock Exchange,
Wanda Hotel Development said it will acquire Wanda Travel for RMB6.3
billion, paid either in cash, the issue of shares and/or convertible
bonds, with share prices determined by the company’s closing price
on Aug. 8 at HK$1.16 per share. Wanda Hotel Development will acquire
Wanda Hotel Management for a cash price of RMB750 million.
In September 2017, Wanda launched its accelerator project. The final
15 tech startups have been selected for the first Wanda Accelerator
project, in order to take full advantage of Wanda's resources,
introducing imaginative technology products, and fostering
In September 28 2017, S&P downgrades
Dalian Wanda Commercial
Properties to BB.
In 2017, Wanda earned around 49% of its revenue from
Commercial Properties Co. 28% or $10.85 billion, of total revenue was
contributed by Wanda's cultural unit, including movie theaters, sports
On January 29, Tencent, Suning, JD.com, and Sunac signed strategic
investment agreements with Wanda Commercial, with plans to invest
about RMB 34 billion to acquire Wanda Commercial’s 14% equity
On February 5,
Wanda Group signed a strategic investment agreement
with Alibaba Group and Cultural
Investment Holdings. The 2 parties
will invest 7.8 billion yuan for Wanda Film Holding’s 12.77% stake.
Of which, Alibaba invests 4.68 billion yuan and CIS invests 3.12
billion yuan, becoming the second and third largest shareholders after
Wanda Group remains the controlling shareholder with
48.09% of shares in Wanda Film.
Initial public offering
In December 2014,
Dalian Wanda Commercial Properties, the group's
property division, raised $3.7 billion in an initial public offering
on the Hong Kong Stock Exchange, the "most money a real estate
company has raised in the public markets". The IPO made founder
Wang Jianlin worth more than $25 billion, making him one of China's
In 2016, the group sought to privatize
Dalian Wanda Commercial
Properties less than 18 months after the unit's listing on the stock
exchange. Standard & Poor was concerned that the move would
weaken Wanda Commercial's transparency.
On January 20, 2015, it was reported that
Wang Jianlin was buying a
20% stake in the La Liga club Atlético Madrid. The purchase was
finalised March 31, 2015, when the company Wanda Madrid Investment, a
Dalian Wanda Group, officially become a partial owner of
Atlético Madrid after gaining control of 726.707 shares, representing
a 20% ownership stake. The purchase price was €44,983,163.30, or
€61.90 per share. The Group sold 17% of its stake to Israeli
Idan Ofer on 14 February 2018 for an undisclosed
In February 2015,
Dalian Wanda won an auction to purchase Infront
Sports & Media, a sports marketing company based in Zug,
Switzerland, for $1.2 billion. Infront distributes
broadcasting rights for some of the world’s biggest sporting events;
for example, it has the exclusive sales rights to broadcast FIFA's
events from 2015 to 2022, including the 2018 and 2022 World Cups.
According to Wang Jianlin, "the acquisition is expected to help boost
China and increase Wanda’s influence in global
In August 2015,
Dalian Wanda announced that it was purchasing the
World Triathlon Corporation, a US-based company promoting and
licensing various triathlon competitions, for $650 million.
In November 2015, it was announced that a sports division will include
all sports-related assets.
In March 2016,
FIFA announced that Wanda would be a major sponsor for
international events until 2030. In September of the same year, Wanda
Group announced a media and sponshorship deal with Badminton World
Federation through its subsidiary, Infront Sports & Media.
In June 2017 it purchased
Competitor Group (operator of the Rock 'n'
Roll Marathon Series).
Wanda Group was also one the organizer/sponsor of the Tour of Guangxi.
Wanda Group has its headquarters in the Wanda Plaza (Chinese:
万达广场) in Beijing's Chaoyang District, where it moved in
2009. In May 2015,
Wanda Group announced that it was in the
process of relocating its corporate headquarters to Shanghai, which
will become the third Chinese city to host the company's
As of December 31, 2016,
Dalian Wanda owned 185 Wanda Plazas, 90
hotels, 3,947 cinema screens throughout China.
In 2013, the company’s assets totaled 380 billion yuan ($62.8
billion), its annual income reached 186.6 billion yuan ($30.8 billion)
and net profits exceeded 12.5 billion yuan ($2.06 billion).
By January 2017,
Wanda Group was the largest film exhibitor in
Shanghai Film Group in second.
In July 2017, the Chinese Central Government introduced new measures
that bar state-owned banks from providing new loans to private Chinese
firms to curb their foreign expansion. According to media reports,
the measures were approved directly by General Secretary Xi
Jinping. Next to Wanda Group, the measures also targeted HNA Group
Anbang Insurance Group as well asand
Fosun International Ltd.
Wang Jianlin responded by announcing that the company will
focus on investing into the domestic market, and sold $9.4 billion
worth of assets, including 77 hotels and a 91 percent stake in 13
theme parks to a smaller Chinese competitor.
Dalian Wanda has been the major sponsor of the Chinese
Super League football league. From 1994 to 2000, it was the
primary sponsor for the
Dalian Shide F.C. (then named
F.C.), during which time the club won four titles in the Chinese
top-tier Jia-A League.
The "China's Future Football Stars" project, kicked off in 2013, is
being funded by the
Wanda Group with an initial phase-I investment of
at least 200 million yuan (approximately $32.5 million), the biggest
sponsorship in domestic youth sport development since 1949. The
program will see 30 young footballers sent to
Spain each year for a
three-year training program that will consist of football training, as
well as education in
Spanish language and local culture.
On March 18, 2016, Wanda signed a deal with
FIFA to provide
sponsorship at the next four World Cup competitions, up until 2030.
Although it is still unclear as to how much money has changed hands,
and also which Wanda Subsidiaries will be appearing. This deal makes
Wanda the first Chinese First-Tier
On December 9, 2016 Wanda signed a deal with
Atlético Madrid to have
the new stadium named after the Wanda Group. The new stadium's name is
Wanda Group already owns 20% of the Spanish
Chinese property bubble (2005–11)
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Company website (English)
Company website (Chinese)
Open Road Films
Open Road Films (co-owned with Regal Entertainment Group)
Legendary Digital Networks
Geek & Sundry
Amy Poehler’s Smart Girls
Oriental Movie Metropolis
Wuzhou Film Distribution
Atlético Madrid (20%)
Infront Sports & Media
World Triathlon Corporation