Wanda Group Chairman Wang Jianlin makes a speech at the annual meeting.
Wanda Group helds the annual meeting.
Wanda Group helds the annual meeting.
Report on the Work of Wanda Group in 2015
January 16th, 2016, Wanda Group (“the Group”) convened its 2015 annual meeting at the newly opened Xishuangbanna International Resort in Yunnan. Group Chairman Wang Jianlin reported the Group’s performance in 2015 and announced the targets for 2016.
2015 performance exceeded targets across the board
In the year of 2015, the Group’s total assets (In accordance with the Cost Method) grew to RMB634 billion, up 20.9% year-on-year; revenue was RMB290.16 billion, achieving estimates by 109.3% and up 19.1% year-on-year with estimated net profits (unaudited) expected to increase significantly over previous year.
The Group’s property arm, Wanda Commercial Properties’ annual revenue climbed to RMB190.45 billion, meeting estimates by 101.3% and up 4.4% year-on-year. Real estate contract revenue reached RMB164.08 billion, meeting targets by 101.5% and up 2.5% year-on-year. 26 new Wanda Plazas were opened in 2015; Wanda Plaza’s total rental revenues hit RMB14.4 billion, achieving targets by 101.1% and up 30.7% year-on-year. Due to substantial increase in rental, annual rent and property management fee collection rates were 100%., net profit from rental as a percentage of total net profit of Wanda Commercial Properties is expected to exceed 35%.
10 new hotels with 2796 additional rooms were opened this year, bringing Wanda’s total number of rooms to 21961. Annual revenue from Hotels reached RMB5.24 billion, achieving targets by 101% and up 22.5% year-on-year; owners’ profits reached RMB710 million, meeting targets by 119.7% and up 22.4% year-on-year. 4.755 million square meters of property area was added in 2015, bringing the total area of properties held to 26.321 million square meters (Excluding the areas of properties owned by the Group) and grew by 22% year-on-year. Combined annual foot traffic at Wanda Plazas and FFan partner shopping malls reached 4.62 billion, with annual foot traffic of Wanda Plazas alone amounting to 2.03 billion. Revenues from Wanda Commercial Properties’ other businesses totaled RMB6.73 billion.
In 2015, Wanda Cultural Industry Group’s annual revenue reached RMB51.28 billion, achieving targets by 114%, and grew by 45.7% year-on-year. Wanda Cinema Line’s revenue reached RMB8 billion, meeting targets by 120.4% with growth up 49.9% year-on-year; revenue from box office receipts reached RMB6.3 billion, growing 49.6% year-on-year; revenue from online ticket sales grew to RMB4 billion, up 240% year-on-year. 65% of ticket sales revenue came from online sales. Wanda Cinema Line’s Wan Club membership has reached more than 50 million. Consumption by members accounted for over 80% of total revenue, while cinema attendance reached 151 million visits, up 48.9% year-on-year. 941 cinema screens were added in 2015, bringing the total number of cinemas and screens to 292 and 2,557 respectively. Wanda Cinema Lines’ attendance rate was 1.9 times the industry average, while revenue generated per screen was 2.1 times the industry average.
In 2015, Wanda Pictures grew box office receipts to RMB6.15 billion, revenue to RMB 580 million, achieving targets by 180% and up 36.1% year-on-year. Moreover, in terms of revenues and box office receipts, Wanda Pictures was ranked...
Wanda Group Chairman Wang Jianlin makes a speech at the annual meeting.
Wanda Group helds the annual meeting.
Wanda Group helds the annual meeting.
Report on the Work of Wanda Group in 2015
January 16th, 2016, Wanda Group (“the Group”) convened its 2015 annual meeting at the newly opened Xishuangbanna International Resort in Yunnan. Group Chairman Wang Jianlin reported the Group’s performance in 2015 and announced the targets for 2016.
2015 performance exceeded targets across the board
In the year of 2015, the Group’s total assets (In accordance with the Cost Method) grew to RMB634 billion, up 20.9% year-on-year; revenue was RMB290.16 billion, achieving estimates by 109.3% and up 19.1% year-on-year with estimated net profits (unaudited) expected to increase significantly over previous year.
The Group’s property arm, Wanda Commercial Properties’ annual revenue climbed to RMB190.45 billion, meeting estimates by 101.3% and up 4.4% year-on-year. Real estate contract revenue reached RMB164.08 billion, meeting targets by 101.5% and up 2.5% year-on-year. 26 new Wanda Plazas were opened in 2015; Wanda Plaza’s total rental revenues hit RMB14.4 billion, achieving targets by 101.1% and up 30.7% year-on-year. Due to substantial increase in rental, annual rent and property management fee collection rates were 100%., net profit from rental as a percentage of total net profit of Wanda Commercial Properties is expected to exceed 35%.
10 new hotels with 2796 additional rooms were opened this year, bringing Wanda’s total number of rooms to 21961. Annual revenue from Hotels reached RMB5.24 billion, achieving targets by 101% and up 22.5% year-on-year; owners’ profits reached RMB710 million, meeting targets by 119.7% and up 22.4% year-on-year. 4.755 million square meters of property area was added in 2015, bringing the total area of properties held to 26.321 million square meters (Excluding the areas of properties owned by the Group) and grew by 22% year-on-year. Combined annual foot traffic at Wanda Plazas and FFan partner shopping malls reached 4.62 billion, with annual foot traffic of Wanda Plazas alone amounting to 2.03 billion. Revenues from Wanda Commercial Properties’ other businesses totaled RMB6.73 billion.
In 2015, Wanda Cultural Industry Group’s annual revenue reached RMB51.28 billion, achieving targets by 114%, and grew by 45.7% year-on-year. Wanda Cinema Line’s revenue reached RMB8 billion, meeting targets by 120.4% with growth up 49.9% year-on-year; revenue from box office receipts reached RMB6.3 billion, growing 49.6% year-on-year; revenue from online ticket sales grew to RMB4 billion, up 240% year-on-year. 65% of ticket sales revenue came from online sales. Wanda Cinema Line’s Wan Club membership has reached more than 50 million. Consumption by members accounted for over 80% of total revenue, while cinema attendance reached 151 million visits, up 48.9% year-on-year. 941 cinema screens were added in 2015, bringing the total number of cinemas and screens to 292 and 2,557 respectively. Wanda Cinema Lines’ attendance rate was 1.9 times the industry average, while revenue generated per screen was 2.1 times the industry average.
In 2015, Wanda Pictures grew box office receipts to RMB6.15 billion, revenue to RMB 580 million, achieving targets by 180% and up 36.1% year-on-year. Moreover, in terms of revenues and box office receipts, Wanda Pictures was ranked first in the industry. Box office receipts from films distributed by Wuzhou Film Distribution reached RMB6.7 billion, which accounted for 24% of the entire domestic market, with annual revenue reaching RMB1.65 billion, achieving targets by 183.7%. After only being established one year ago, Wuzhou Film Distribution ranks first in China for both box office receipts and revenue.
Wanda Tourism achieved annual revenue of RMB12.01 billion in 2015, achieving targets by 111.7% and up 59.8% year-on-year. Wanda Sports Holdings annual revenue reached RMB5.87 billion, fulfilling targets by 132.7%. Wanda Kidsland opened 51 new outlets to bring its total number of nationwide outlets to 60. It also brought in revenues of RMB220 million, achieivng targets by 103.6%. Other revenues from Wanda Cultural Industry Group amounted to RMB3.81 billion.
Wanda Financial Group annual revenue was RMB20.89 billion, exceeding annual targets by 697%. Wanda Department Stores reported revenues of RMB23.05 billion, achieving annual targets by 102.3% and up 11.1% year-on-year. Other revenue amounted to RMB4.5 billion.
Key Targets for 2016
It was announced at Wanda Group’s annual meeting that total assets are expected to reach RMB750 billion and revenues to be decreased by 12% to RMB254.3 billion. The main reason for this decline in revenue is that Wanda Commercial Properties adjusted down the revenue in real estate by RMB64 billion this year, however net profits are expected to maintain relatively higher growth.
Wanda Commercial Properties plans to achieve annual revenue of RMB130 billion in 2016. Although revenue targets will be adjusted downwards this year, net profits are expected to have double-digit growth, while real estate contract revenue is expected to reach RMB100 billion and revenue from confirmed delivered housing is projected to reach RMB110 billion. 55 Wanda Plazas are scheduled to open in 2016, almost double the previous year and rental income is expected to be RMB19.5 billion. 14 new hotel properties are scheduled to open in 2016 and total revenue from these hotels is projected to reach RMB6.14 billion. 5.8 million square meters of new additional properties will be added. A total of 71 development projects will be taken on this year, among them one will be cultural tourism, three will be heavy-asset Wanda Plazas, while 54 will be light-asset Wanda Plazas.
In 2016, Wanda Cultural Industry Group aims to achieve annual revenue of RMB66.64 billion, a year-on-year increase of 30%. Wanda Cinema Line will open 77 new theaters and add 698 screens (Excluding acquisitions) this year. Wanda Pictures aims to grow revenue by 71% to RMB1 billion. Wuzhou Film Distribution targets annual box office receipts of RMB9 billion and annual revenue of RMB1.76 billion, a 10.6% annual increase year-on-year.
Wanda Tourism targets annual revenue of RMB16.17 billion, Wanda Theme Park Company aims to achieve annual revenue of RMB1.77 billion, Wanda Kidsland targets annual revenue of RMB780 million, Wanda Sports Holdings targets revenue of RMB7 billion and revenue from other businesses is targeted to reach RMB730 million.
2016 projected revenue for Wanda Financial Group is RMB21.18 billion, of which RMB4.46 billion is expected to come from its Internet Finance business, with growth of its active database expected to reach 100 million members, issuance of Ffan cards to 50 million and partnership with 1000 shopping centers. Projected revenue from Aeon Life Insurance is RMB16.52 billion and Wanda Investment Company aims to complete three substantial overseas acquisitions, two substantial domestic acquisitions (Excluding cinema chains).
Revenue for Wanda Department Stores is projected to hit RMB17.53 billion and achieve overall profitability, while revenue from the Group's other businesses is proje
