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 corporation and
the world's biggest private property developer and owner and the
world's largest cinema chain operator, owning
Wanda Cinemas and the
Hoyts Group , as well as a majority share of
AMC Theatres .
The company operates in several major industries: commercial
property, luxury hotels, culture, Internet, finance, tourism, and
department stores. It was established in
Liaoning and is now
Beijing . It ranked 380th on the Fortune Global 500
List in 2017. In 2016 its assets amounted to 796.2 billion yuan with
operating revenue of 255 billion yuan. Wanda Cultural Industry Group
is China’s largest cultural enterprise, with annual revenue of 64.1
billion yuan in 2016.
* 1 History
* 1.1 Diversification push
Initial public offering
* 1.3 Sports
* 2 Operations
* 3 Sponsorships
* 4 See also
* 5 References
* 6 External links
The company was founded in Dalian, Liaoning, in 1988 as a residential
real estate company by
Wang Jianlin . Incorporated in 1992, the
company was "one of the first shareholding companies in the PRC" after
the economic reform .
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 owns 50%
Open Road Films .
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
South London, as part of the
Nine Elms regeneration. Mayor of London
Boris Johnson welcomed this move. It is building "Western Europe’s
tallest residential building". Plans were scrapped in 2015,
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,
Australia , from
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
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
Aqua Tower .
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
Paramount Pictures .
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
Deadline.com citing 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 9th, 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.
INITIAL PUBLIC OFFERING
In December 2014,
Dalian Wanda Commercial Properties, the group's
property division, raised $3.7 billion in an initial public offering
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 richest
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.
In February 2015,
Dalian Wanda won an auction to purchase Infront
Sports 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 sports in
China and increase Wanda’s influence in global
sports". Wanda Plaza
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 June 2017 it purchased
Competitor Group (operator of the Rock
\'n\' Roll Marathon Series ).
Wanda Group has its headquarters in the Wanda Plaza (Chinese:
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 headquarters.
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 President
Xi Jinping . Next to
Wanda Group, the measures also targeted
HNA Group Co. , Anbang
Insurance Group as well asand
Fosun International Ltd. Chairman 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
Dalian Wanda 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
Atletico Madrid to have
the new stadium named after the Wanda Group. The new stadium's name
Wanda Metropolitano .
Wanda Group already owns 20% of the
Spanish football club.
Chinese property bubble (2005–11)
* Real estate in
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