Wanda Film

Wanda Film Holding Co., Ltd.
Native name
万达电影院线股份有限公司
FormerlyWanda Cinema Line Corporation
Company typePublic
SZSE: 002739
IndustryEntertainment (cinemas)
Founded2005; 19 years ago (2005)
Headquarters
Beijing
,
China
Key people
Chen Xi (chair)[1]
ProductsWanda Cinemas
ParentDalian Wanda Group
SubsidiariesHoyts
Websitewww.wandacinemas.com

Wanda Film Holding Co., Ltd. (formerly Wanda Cinema Line) is a cinema operator, film production and film distribution company in China, headquartered in the Wanda Plaza (万达广场) in Chaoyang District, Beijing.[2] It is a part of the Dalian Wanda Group. As of 2014 Wang Jianlin is the head of the company.[3] As of January 2018, Wanda Cinemas remained China's largest film distributor.[4] Some locations are named Wanda International Cinemas (Chinese: 万达国际影城; pinyin: Wàndá Guójì Yǐngchéng) with Hollywood and Chinese movies as the main offering.

As of January 2018, Wanda Cinemas had 525 cinemas with 4648 screens worldwide.[5] The revenue in 2017 is 13.2 billion yuan.

History

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Wanda Cinema Line was founded in 2005.[6]

In 2014 the company had 4.2 billion yuan ($681.7 million) in box office revenue, the highest grossing in China.[7] In 2014 the China Securities Regulatory Commission gave approval for the company's IPO.[3] In 2015 it was again the largest cinema chain by box office gross, with US$945 million, representing 14% of the market.[8]

As of 2014, the company had a total of 1,616 screens, including 94 IMAX screens, in 182 cinema complexes in almost 100 cities in China, making it the largest movie theater operator in Asia. As of December 2015, the number of screens has since risen to an estimated 2,000 screens.[9]

In March 2016, Dalian Wanda announced it would integrate its domestic film production subsidiary Wanda Pictures and its Qingdao Wanda Pictures unit into Wanda Cinema Line.[10]

In June 2015, Wanda Cinemas announced that it had acquired Australian cinema chain Hoyts.[11] On July 27, 2016, the company announced it would acquire film website Mtime.[8]

In 2016, the total box office of Wanda Cinema is 7.6 billion RMB, with a 20.5% increasing.

In March 2017, Wanda Cinema Line was renamed Wanda Film Holding.[12]

As of April 2017, Wanda Cinema remained China's largest film distributor.[4] The Financial Times reported on April 1, 2017, that Wanda Cinema had "reported a 7.5 per cent year-on-year increase in annual net profit."[4]

In November 2017, Wanda Cinemas won the 2017 "China Top 100 Enterprises Award ".

On February 5, 2018, Wanda Group signed a strategic investment agreement with Alibaba Group and Cultural Investment Holdings. The two parties will invest 7.8 billion yuan for Wanda Film Holding's 12.77% stake. Of which, Alibaba invests 4.68 billion yuan and CIS invests 3.12 billion yuan, becoming the second and third largest shareholders after transaction. Wanda Group remains the controlling shareholder with 48.09% of shares in Wanda Film.[13]

On June 25, 2018, Wanda has unveiled plans to consolidate its film and entertainment businesses with the aim of boosting production of films, television and games. In a company notice issued to the Shenzhen Stock Exchange, Wanda Film Holdings, a subsidiary of Dalian Wanda Group, said it plans to acquire a 96.83% stake of Wanda Media from the company's 21 shareholders at a price of 11.6 billion yuan ($1.77 billion) via cash payment and share issue.[14]

Facilities and operations

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Wanda International Cinema in Yinzhou District, Ningbo

Wanda Cinemas is headquartered in the Wanda Plaza in Chaoyang District, Beijing.[2] Beijing CBD Wanda Plaza houses the company headquarters and includes the Beijing CBD Wanda Cinemas (北京万达电影城CBD店).[15][16]

Some locations are named Wanda International Cinemas. As of 2016, it has a total of 2,789 screens in 320 theaters in China, Australia and New Zealand.[8] As of June 2016, it was the largest exhibitor in China, with 2,700 screens in 311 theaters.[17]

In 2018, Shanghai Wujiaochang Wanda Cinema introduced the very first LED cinema screen in China. The LED cinema screen has a width of nearly 10.3 meters, ultra-clear 4K resolution, with its peak brightness 10 times higher than traditional projection equipment.

See also

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References

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  1. ^ Frater, Patrick (2024-02-02). "Chen Xi Appointed Chair of Wanda Film, China's Largest Cinema Chain". Variety. Retrieved 2024-02-08.
  2. ^ a b "联系我们." Wanda Cinemas. Retrieved on January 3, 2015. "公司地址：北京市朝阳区建国路93号 万达广场B座11层"
  3. ^ a b Agencies. "China mogul's cinema chain gets nod for mainland IPO." China Daily. December 1, 2014. Retrieved on January 4, 2015. Alternate link.
  4. ^ a b c Fei Ju, Sherry; Clover, Charles (April 1, 2017). "China's Hollywood war chest threatened by poor ticket sales". Financial Times. Retrieved April 3, 2017.
  5. ^ "Investor relationship" (PDF).
  6. ^ "公司简介-万达院线". www.wandacinemas.com. Retrieved 2017-07-29.
  7. ^ "Company Profile". Official Website of Wanda Cinemas (in Chinese). Retrieved 6 June 2015.
  8. ^ a b c Spangler, Todd (July 27, 2016). "Wanda Cinemas to Acquire Mtime Chinese Movie E-Commerce Site in $350 Million Deal". Variety. Retrieved July 27, 2016.
  9. ^ Patrick Brzeski (December 17, 2015). "Box Office: 'Star Wars' Is An Unknown Force in China". The Hollywood Reporter. Retrieved December 17, 2015.
  10. ^ Brzeski, Patrick (2016-03-14). "China's Wanda to Consolidate Film Units". The Hollywood Reporter. Retrieved 2024-02-08.
  11. ^ Matthew Miller (2 June 2015). "China's Dalian Wanda buys Australian cinema chain Hoyts". Reuters. Retrieved 3 June 2015.
  12. ^ Ryan, Fergus (2017-03-31). "Wanda Cinemas Rebrands as Wanda Film Holding, 2016 Profit Up 15 Percent". China Film Insider. Retrieved 2024-02-08.
  13. ^ "BRIEF-Wanda Group Says It Signs Strategic Investment Agreement With Al". Reuters. 5 February 2018. Retrieved 2018-02-09.
  14. ^ Chow, Vivienne (2018-06-26). "Wanda Unveils $1.77 Billion Plan to Consolidate Film Units". Variety. Retrieved 2018-06-29.
  15. ^ "商户分布" (Archived 2014-03-21 at the Wayback Machine). Beijing CBD Wanda Plaza. Retrieved on January 6, 2015.
  16. ^ "北京万达电影城CBD店." mtime.com. Retrieved on January 6, 2015. "朝阳区建国路93号万达广场三层"
  17. ^ Giardina, Carolyn (June 22, 2016). "Wanda Opens Asia's First Dolby Cinema Theater". The Hollywood Reporter. Retrieved June 23, 2016.
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