PRNewswire — BEIJING: In the year of 2015, Wanda Group’s assets totaled RMB634 billion, up 20.9% from the end of 2014. The company’s revenue in 2015 came in at RMB290.16 billion, which was 109.3% of the planned target for the whole year and an increase of 19.1% year-on-year. The net profit (unaudited) is also expected to see a big rise.
Want China Times — US on-demand internet streaming video provider Netflix is reportedly set to team up with Chinese conglomerate Wanda Group, which owns Wanda Cinemas as well as AMC Entertainment, to expand business in the Chinese market, the Guangzhou-based 21st Century Business Herald reports.
China’s largest tech corporations are rushing to penetrate an industry that’s historically not tech-savvy – brick-and-mortar retail. Dalian Wanda Group, a conglomerate best known for its chain of movie theaters , has launched a US$814 joint ecommerce venture with Baidu and Tencent for the purpose of accelerating the three firms’ reach for in-store mobile payments. Tencent and Baidu have confirmed news of the venture with Tech in Asia.
Wang Jianlin, chairman of Wanda Group, announced during the company’s semi-annual work conference that the company will focus CNY5 billion to enhance the group’s online commerce efforts. Wang revealed that Wanda will cooperate with China’s largest e-commerce providers to establish Wanda e-commerce and the first-phase investment will be estimated at CNY5 billion. Wanda e-commerce aims to discover a profit-making model in about three years.