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Dalian Wanda Group Announces 2017 First-Half Performance

2017-07-06 18:18
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*Dalian Wanda Group's 2017 First-Half Revenue Increased 12.4% year-on-year to RMB134.85 billion

*Dalian Wanda Group's 2017 First-Half Non-Property Revenue Accounted for 57.9% of Total Revenue

BEIJING, July 6, 2017 /PRNewswire/ -- In the first half of 2017, Dalian Wanda Group Co., Ltd. continued its strong growth trajectory across all business sectors. Wanda's assets in the period totaled RMB882.64 billion, up 19.8% from the end of June 2016. The company's revenue in the first half jumped 12.4% to RMB134.85 billion, reaching 116.2% of H1 target. Excluding Wanda Tourism, which was acquired by ly.com earlier this year, revenue increased 17.9% year-on-year.

Revenue from the property sector was RMB56.83 billion, 42.1% of the Group's total revenue. As for the service sector, or non-property sector, revenue was RMB78.02 billion, or 57.9% of the total revenue.

Wanda Commercial Properties' revenue in the first half reached RMB73.5 billion, which was 115.3% of H1 target, having achieved a strong 14.2% growth. Wanda Commercial Properties' H1 revenue included RMB56.34 billion in property sales, completing 119.2% of its own H1 sector target, and achieving a 11.3% year-on-year increase. With a total sum of RMB49.14 billion, cash from receivables achieved 55.4% of the annual target and 120.3% of H1 target. Rent revenue climbed 34.3% year-on-year in H1 to RMB11.69 billion, completing 102.2% of H1 plan. The H1 rent collection rate was 100%. Total visitor volume of Wanda Commercial Properties reached 1.46 billion and increased 31.9% year-on-year.

In the first half of 2017, Wanda Commercial Properties opened 14 projects, including property-owned 3 Wanda Plazas and 2 Wanda Malls, covering a total area of 912,000 square meters. 9 asset-light Wanda Plazas were also opened, covering a total area of 1.115 million square meters. Wanda Commercial Properties also opened 4 new hotels, and signed contracts for 6 new hotel brand management export projects, including a Wanda Realm resort hotel in Langkawi, Malaysia.

In the H1 of 2017, Wanda Group developed 28 projects, namely 26 Wanda Plazas and 2 Wanda Cities. All Wanda Plazas are asset-light projects, among which 14 are asset-light investment projects and 12 are asset-light cooperation projects.

To June 30, 2017, property under the possession of the Wanda Commercial Properties increased to 33.87 million square meters, up 4.8% from the end of 2016. Land reserve reached 73.326 million square meters, including 13.603 million square meters owned property and 37.596 million square meters sales property, reaching a value of RMB792.4 billion. 1-tier and 2-tier cities' sales property area reached 37.596 million square meters, sharing 63.8% of total sales property area, and the value of which is 78.8% of total sales property value.

Wanda Cultural Industry Group posted a revenue of RMB30.8 billion in the period, up 5.9% from the same period a year earlier. It accounts for 102.5% of H1 target. Excluding Wanda Tourism, Cultural Group revenue jumped 31% year-on-year.

Wanda's Financial Group had RMB20.61 billion in revenue in H1, with an increase of 46.8%. The Financial Group also reached 152.7% of H1 target and 80.5% of annual target.

Wanda's Internet Technology Group had RMB2.56 billion in revenue in H1, completing 119.4% of H1 target. The Internet Technology Group has 191 million active users and 87.56 million Ffan (fei-fan) users. 3,382 major business projects have been signed up for and cooperated on, completing 102% of the plan; 161,500 medium and small business projects have been signed up for and cooperated on, completing 105% of the plan.

Revenue of Wanda Group's other companies was RMB7.38 billion, having achieved 57% of annual target and 112.3% of H1 target.

In the first half of 2017, Dalian Wanda Group has created 49,000 service jobs, including recruitment of 25,000 college graduates. Wanda paid RMB 19.54 billion taxes and donated RMB 420 million in cash in the first half of the year.

Meanwhile, Dalian Wanda Group received 65 "National Green Building Design" labels, with 16 Wanda projects receiving the "Green Building Operation" labels.

Source: Dalian Wanda Group

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