Dalian Wanda Group

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Dalian Wanda Group Corporation Limited
Type Private
Industry Conglomerate
Founded 1988 (Dalian)
Headquarters Beijing, China
Key people Wang Jianlin (Chairman)[1]
Ding Benxi (President)
Products Plazas, yachts
Services Hospitality, cinemas, retailing, property development
Net income [1]
Owners Wang's family owns 100 percent of Dalian Wanda directly and through holding company Dalian Hexing Investment Co.[1]
Subsidiaries AMC Theatres
Sunseeker International
Website http://www.wanda-group.com

Dalian Wanda Group Corporation Limited (Chinese: 大连万达; pinyin: Dàlián Wàndá) is a Chinese conglomerate company with activities in real estate, tourism, hotels, and entertainment. It is headquartered in Beijing in China.

History[edit]

The company was founded in 1988 as a residential real estate company by Wang Jianlin (now one of the richest people in China). [2] Since 2005, it has diversified into areas including hotels, cinemas, karaoke centres, and department stores.[1]

Dalian Wanda acquired the United States-based cinema operator AMC Theatres[1] in May 2012 for about USD $2.6 billion.[3] The company website said that its existing Wanda Cinema Line was “Asia’s largest” cinema operator and following the merger it claims to be the world’s largest cinema operator.[4] The acquisition went through successfully in September 2012.

In June 2013, Dalian Wanda acquired the British yacht builder Sunseeker International for USD $500 million. This acquisition will give them a 92% stake in the company.[5]

Operations[edit]

As of June 16 2014, Dalian Wanda owned 88 Wanda Plazas, 55 five-star hotels, 1,247 cinema screens, 78 department stores, and 84 karaoke centres throughout China.[6]

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).

In June 2013, Dalian Wanda planned to invest USD $1.1 billion to develop a five star hotel in London. The new hotel will be built by the Thames river[1] in Vauxhall, South London as part of the Nine Elms regeneration. The move was welcomed by the Mayor of London, Boris Johnson.[7]

In June 2013, the company purchased Sunseeker International Ltd., a U.K.-based maker of yachts used in the James Bond movies, for $500 million.[1]

Sponsorships[edit]

Since 2011, Dalian Wanda has been the major sponsor of the Chinese Super League football league.[8] From 1994 to 2000, it was the primary sponsor for the Dalian Shide F.C. (which was named Dalian Wanda FC at the time).

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.

References[edit]

External links[edit]