Wanda Tourism has US$1.2 billion revenue in 2014
Wanda group’s transformation and upgrading has been successful with the growth in its cultural and tourism business revenue surpassing its real estate business.
Wanda Group maintained an annual revenue growth rate at above 30% for the 9th year last year to yield income of RMB242.48 billion (approx.: US$39 billion), 101% on target, with significant growth in net profit. Asset value was up 34.5% to RMB534.1 billion (approx.: US$85.83 billion).
Wanda Commercial Properties holds 21.57 million sqm property portfolio, up 32%, with RMB160.15 billion (approx.: US$25.74 billion) in contract sales, 100.1% on target and a 26.8% y-o-y increase. Rental income increased 32.7% to RMB11.08 billion (approx.: US$1.8 billion).
Wanda Cultural Group recorded 32.3% increase in revenue to RMB34.14 billion (approx.: US$5.5 billion) , 108.9% on target.
Wanda Department Store’s financial performance stood out in the embattled department store sector of 2014. It opened 24 stores and recorded RMB 25.6 billion (approx.: US$4.1 billion) in revenue, 101.6% on target and a 65.3% y-o-y increase.
Wanda group’s transformation and upgrading has been proven successful with the growth in its cultural and tourism business revenue surpassing that of its real estate business. Its two major cultural projects in Wuhan, the Han Show and the Movie Park, were sold out six months in advance after they opened in December. In just one year
Wanda Tourism’s revenue reached RMB7.51 billion (approx.: US$1.2 billion) placing them among the top ranking Chinese companies.
Wanda Cinemas also recorded RMB430 million (approx.: US$69.1 million) revenue, 121% on target.(Translation by David)