Wanda Group Announces 2016 First-Half Results
*Wanda Group’s 2016 First-Half Revenue Increased 10.6% YoY to RMB119.93 billion
*Wanda Group’s 2016 First-Half Overseas Revenue Jumped 78.6% YoY to RMB17.69 billion
*Wanda Cultural Industry Group Revenue Up 57.1% YoY to RMB29.03 billion in 2016 First Half
In the first half of 2016, period ending June 30, Wanda Group continued its strong growth trajectory across its business portfolio. Wanda’s assets in the period totaled RMB736.8 billion, up 12.1% from the end of 2015. The company’s revenue in the first half, excluding the Wanda Department Stores division, jumped 10.6% year-on-year to RMB119.93 billion, reaching 111% of the target for the period.
Wanda’s overseas income accounted for 14.8% of the group’s revenues, reaching RMB17.69 billion in the first half, up 78.6% from the same period a year earlier. Revenue reached 101.7% of the half-year target for overseas income.
Wanda Commercial Properties’ revenue in the first half reached RMB64.36 billion, which was 106.6% of the target for the period. Commercial Properties’ revenue of the period included RMB50.62 billion in contracted revenue, which was 108.3% of the target for the half, down 17.3% year-on-year.
Commercial rental income climbed 27% year-on-year in the first half to RMB8.48 billion. Rent collection rate was 100%.
To June 30, property under the possession of the Group increased to 29.29 million square meters, including 28.308 million square meters held by Wanda Commercial, a year-on-year increase of 7.3%.
Wanda Cultural Industry Group posted revenue of RMB29.03 billion in the period, up 57.1% from the same period a year earlier. It accounted for 105.7% of first-half targets.
Revenue for Wanda Film hit RMB19.09 billion, an increase of 43.1% from a year earlier and accounting for 105.6% of the half-year targets.
Wanda Tourism’s half-year revenue increased 32.6% year-on-year to RMB 6.03 billion, representing 106.8% of the first-half targets.
Revenue for the newly-established sports company climbed to RMB3.39 billion, accounting for 104.8% of the first half targets.
The children’s entertainment company revenue increased 576% year-on-year, to RMB290 million, completing 105.2% of the half year target.
Wanda’s financial group had RMB15.51 billion in revenue in the first half, reaching 162.5% of the half-year target.