https://www.scmp.com/rss/326177/feed The latest news, analysis and opinion on Dalian Wanda Group. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Ambrose Li Ambrose Li A former boss of Hong Kong Disneyland Resort will take the reins at the city’s Kai Tak Sports Park as CEO from April, with the landmark complex looking to the new head to “unlock the full potential” and “amplify its economic impact”. The park said on Friday that Andrew Kam Min-ho would succeed its first CEO, John Sharkey, who was stepping down after a nearly 10-year stint that established the complex as “a premier destination for world-class sports, entertainment, culture and leisure... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340196/ex-hong-kong-disneyland-boss-take-reins-ceo-kai-tak-sports-park?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340196/ex-hong-kong-disneyland-boss-take-reins-ceo-kai-tak-sports-park?utm_source=rss_feed Fri, 16 Jan 2026 11:33:20 +0000 Bloomberg Bloomberg Seazen Group, one of the few major private-sector Chinese developers yet to default, started marketing a dollar bond that would be the first of its kind in more than two years. Once ranked among China’s top 10 developers by contracted sales, the company set the initial price target for the three-year notes at 13.25 per cent, a person familiar with the matter said. If the issuance were successfully priced, Seazen would be the first privately owned local builder to tap the publicly syndicated... https://www.scmp.com/business/banking-finance/article/3314129/chinas-seazen-markets-first-dollar-bond-offering-private-builder-2023?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3314129/chinas-seazen-markets-first-dollar-bond-offering-private-builder-2023?utm_source=rss_feed Thu, 12 Jun 2025 07:40:36 +0000 Fan Chen Fan Chen Semiconductors and artificial intelligence (AI) remained the dominant sectors in Hurun’s latest ranking of China’s 500 most valuable private companies, while the consumer goods industry suffered a notable decline in 2024. Taiwan Semiconductor Manufacturing Company (TSMC) topped the consultant’s 2024 list – which covers mainland China, Taiwan, Hong Kong and Macau – for the fourth year. The chipmaker’s market value increased 88 per cent from a year earlier to US$965 billion as of November 15,... https://www.scmp.com/business/china-business/article/3300084/consumer-firms-plunge-value-ai-chips-ascend-huruns-china-500-ranking?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3300084/consumer-firms-plunge-value-ai-chips-ascend-huruns-china-500-ranking?utm_source=rss_feed Tue, 25 Feb 2025 10:30:34 +0000 Eight years ago, when asked during a television interview for advice on how to become a billionaire, Wang Jianlin – then China’s richest man – gave an answer that is still frequently quoted today: “First you set a small goal that’s achievable, for example, earning 100 million yuan.” Over the years, however, Wang has lost more than 1,800 “small goals” after seeing his estimated wealth shrink from 215 billion yuan in 2016 to 30 billion yuan (US$4.1 billion) in 2023. In the meantime, the Wanda... https://www.scmp.com/economy/china-economy/article/3264719/how-did-wanda-founder-wang-jianlin-escape-wave-swept-away-embattled-evergrande-property-tycoon-hui?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3264719/how-did-wanda-founder-wang-jianlin-escape-wave-swept-away-embattled-evergrande-property-tycoon-hui?utm_source=rss_feed Thu, 30 May 2024 22:00:13 +0000 An entity affiliated with Dalian Wanda Group agreed to sell Sunseeker International, a maker of yachts, to Lionheart Capital, according to people with knowledge of the matter. The Chinese conglomerate and Miami-based Lionheart have signed a so-called sale and purchase agreement, said one of the people, all of whom asked not to be identified discussing confidential information. The transaction, which is subject to British regulatory approval, is poised to close as soon as next month, one of the... https://www.scmp.com/business/china-business/article/3258628/dalian-wanda-sell-sunseeker-yacht-maker-james-bonds-films-lionheart-capital?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3258628/dalian-wanda-sell-sunseeker-yacht-maker-james-bonds-films-lionheart-capital?utm_source=rss_feed Thu, 11 Apr 2024 07:02:11 +0000 A consortium of investors agreed to inject capital into a unit owned by the Chinese property magnate Wang Jianlin, offering some relief to a cash-starved developer who has had to sell assets to repay debt. Wang’s Newland Commercial Management unit has received close to 60 billion yuan (US$8.4 billion) from a consortium comprising PAG, Citic Capital, Ares Management, Abu Dhabi Investment Authority (ADIA)’s wholly-owned Platinum Peony unit, and the Mubadala Investment Company, according to... https://www.scmp.com/property/article/3257331/wang-jianlins-wanda-unit-gets-us84-billion-capital-injection-pag-led-consortium?utm_source=rss_feed https://www.scmp.com/property/article/3257331/wang-jianlins-wanda-unit-gets-us84-billion-capital-injection-pag-led-consortium?utm_source=rss_feed Sat, 30 Mar 2024 13:43:08 +0000 The cash-strapped Dalian Wanda Group, a major Chinese conglomerate and the country’s largest shopping mall operator, has sold its luxury hotel in Shanghai to Indonesian pulp and paper billionaire Sukanto Tanoto as it looks to overcome a liquidity crisis. The 193-room luxury hotel, opened in June 2016, is located in Shanghai’s famed Bund waterfront and was acquired last month by Singapore-based Pacific Eagle Real Estate, the property investment and development arm of Tanoto’s conglomerate, RGE... https://www.scmp.com/business/banking-finance/article/3247162/cash-starved-chinese-property-group-dalian-wanda-sells-shanghai-luxury-hotel-indonesian-billionaire?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3247162/cash-starved-chinese-property-group-dalian-wanda-sells-shanghai-luxury-hotel-indonesian-billionaire?utm_source=rss_feed Wed, 03 Jan 2024 10:30:19 +0000 Chinese billionaire Wang Jianlin will relinquish control of his key shopping-mall management unit under a deal with investors just in time to avoid a 38 billion yuan (US$5.3 billion) redemption before the end of the year, helping ease a cash crunch following a recent bond-default alarm. Dalian Wanda Commercial Management Group (DWCM), the tycoon’s flagship, will lower its stake in Zhuhai Wanda Commercial Management to 40 per cent, while outside investors led by Asia-focused private equity fund... https://www.scmp.com/business/banking-finance/article/3244825/chinese-billionaire-wang-jianlin-loses-control-hong-kong-ipo-candidate-deal-avert-us53-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3244825/chinese-billionaire-wang-jianlin-loses-control-hong-kong-ipo-candidate-deal-avert-us53-billion?utm_source=rss_feed Tue, 12 Dec 2023 10:28:28 +0000 A key unit of Dalian Wanda Group, one of China’s biggest commercial property developers, is seeking to delay payment on a dollar bond maturing next year, as the country’s property sector woes spread to key players. Wanda Properties International is looking to extend the maturity date of a US$600 million bond due in January by almost a year to December 2024, according to a filing with the Hong Kong stock exchange on Tuesday. It will repay 10 per cent of the outstanding principal in January, 20... https://www.scmp.com/business/markets/article/3242350/unit-chinese-developer-dalian-wanda-seeks-delay-payment-us600-million-bond-due-january?utm_source=rss_feed https://www.scmp.com/business/markets/article/3242350/unit-chinese-developer-dalian-wanda-seeks-delay-payment-us600-million-bond-due-january?utm_source=rss_feed Tue, 21 Nov 2023 11:30:10 +0000 Sino-Ocean Group Holdings, carrying more than US$12 billion of borrowings, is seeking a 12-month reprieve to redeem a local bond due next week, after some creditors filed a notice demanding full repayment. The state-backed developer offered to repay a 2 billion yuan bond (US$280 million) due on August 2 in instalments spread over 12 months, at the same 4 per cent annual coupon, it said in a Hong Kong stock exchange filing on Tuesday. The firm also sought to insert a 15-day grace period on each... https://www.scmp.com/business/china-business/article/3228859/chinese-developer-sino-ocean-seeks-12-month-reprieve-repay-us280-million-bond-amid-liquidity-squeeze?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3228859/chinese-developer-sino-ocean-seeks-12-month-reprieve-repay-us280-million-bond-amid-liquidity-squeeze?utm_source=rss_feed Tue, 25 Jul 2023 10:00:03 +0000 Dalian Wanda Group, China’s biggest commercial property developer, may avert a bond default after it agreed to sell a stake in a wholly owned subsidiary to raise 2.26 billion yuan (US$314.4 million), its third stake disposal in its units this month that underscores its liquidity stress amid mounting debt-servicing pressure. Tencent Holdings-backed China Ruyi Holdings will buy a 49 per cent stake in Beijing Wanda Investment through its unit Shanghai Ruyi Television Production, according to a... https://www.scmp.com/business/china-business/article/3228680/wanda-group-sells-us314-million-stake-beijing-investment-china-ruyi-debt-repayment-pressure-builds?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3228680/wanda-group-sells-us314-million-stake-beijing-investment-china-ruyi-debt-repayment-pressure-builds?utm_source=rss_feed Mon, 24 Jul 2023 03:32:59 +0000 Bonds of Dalian Wanda Commercial Management Group, a unit of China’s biggest commercial property developer, tumbled on Thursday after ratings agency S&P Global downgraded its notes for a second time this week, questioning its ability to repay its debts. The price of a US$600 million bond due in January 2024 slumped by 15.5 cents to 29.75 cents, its lowest on record. The company’s debt maturing in 2025 and 2026 was largely steady. The rout came after S&P cut to speculative grade “CCC” from “BB-”... https://www.scmp.com/business/china-business/article/3228364/wanda-commercial-management-units-bond-falls-record-low-after-sp-cuts-rating-questioning-its-ability?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3228364/wanda-commercial-management-units-bond-falls-record-low-after-sp-cuts-rating-questioning-its-ability?utm_source=rss_feed Thu, 20 Jul 2023 11:05:38 +0000 China’s high-yield dollar bonds are suffering their sharpest three-day sell-off this year, as fresh repayment problems among developers spread. The securities slid about 1 cent Wednesday morning, according to credit traders. That leaves an index tracking the notes set for its worst three-day decline since November. The latest sign of debt repayment problems came as state-backed Sino-Ocean Group proposed repaying a local note due August 2 in instalments over one year. Debt concerns from property... https://www.scmp.com/business/article/3228201/china-junk-bonds-suffer-worst-slide-2023-repayment-woes-sino-ocean-wanda-shui-bear-brunt-selling?utm_source=rss_feed https://www.scmp.com/business/article/3228201/china-junk-bonds-suffer-worst-slide-2023-repayment-woes-sino-ocean-wanda-shui-bear-brunt-selling?utm_source=rss_feed Wed, 19 Jul 2023 06:41:50 +0000 This is the second of a two-part series looking at how Arizona was chosen as the US state to host the latest semiconductor wafer fabrication plant from TSMC, the world’s leading chip foundry, in a move that is redefining geopolitical boundaries in the global chip industry. When the southwestern US city of Phoenix landed a deal in 2020 for a US$12 billion chip-making plant from Taiwan Semiconductor Manufacturing Co (TSMC), it became the biggest payoff for the state of Arizona after seven years of... https://www.scmp.com/tech/big-tech/article/3225044/taiwan-arizona-ties-history-behind-tsmcs-decision-build-us12-billion-chip-plant-southwestern-us?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3225044/taiwan-arizona-ties-history-behind-tsmcs-decision-build-us12-billion-chip-plant-southwestern-us?utm_source=rss_feed Sat, 24 Jun 2023 02:00:22 +0000 Dalian Wanda Group, China’s largest commercial property developer, said Thursday it is fighting a legal battle over the freezing of 1.9 billion yuan (US$270 million) worth of shares it owns in a subsidiary amid a bumpy path to an initial public offering (IPO) in Hong Kong. On Monday, a Shanghai court ordered 1.98 billion yuan worth of shares in the group’s property-management arm Dalian Wanda Commercial Management Group frozen until June 4, 2026. The court did not provide reasons. The group is... https://www.scmp.com/business/china-business/article/3223512/dalian-wanda-vows-legal-battle-chinese-court-freezes-us270-million-worth-shares-amid-stalled-hong?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3223512/dalian-wanda-vows-legal-battle-chinese-court-freezes-us270-million-worth-shares-amid-stalled-hong?utm_source=rss_feed Fri, 09 Jun 2023 06:30:16 +0000 Chinese conglomerate Dalian Wanda’s dollar bonds jumped to a new high on Monday after it said creditors of loans worth US$1.3 billion had not demanded early repayments following the failed initial public offering (IPO) of unit Zhuhai Wanda Commercial Management Group. Its US$400 million 6.875 per cent dollar bond due on July 23 this year was indicated at 87.271 cents on a dollar on Monday, its highest level in two weeks, rising from 77.875 cents on a dollar on Friday, according to Bloomberg... https://www.scmp.com/business/banking-finance/article/3222213/dalian-wanda-bond-prices-rise-after-chinese-conglomerate-says-creditors-have-not-sought-early?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3222213/dalian-wanda-bond-prices-rise-after-chinese-conglomerate-says-creditors-have-not-sought-early?utm_source=rss_feed Mon, 29 May 2023 12:30:07 +0000 Chinese conglomerate Dalian Wanda Group has failed to list its management unit in Hong Kong for a third time. The initial public offering (IPO) application of Zhuhai Wanda Commercial Management Group, controlled by Dalian Wanda Commercial, the group’s commercial property management arm, had “lapsed” on Tuesday, according to the Hong Kong stock exchange. Wanda, founded by Chinese tycoon Wang Jianlin, had failed for the third time to list its subsidiary as it did not submit the relevant listing... https://www.scmp.com/business/article/3218309/dalian-wanda-units-hong-kong-ipo-application-lapses-third-time-bonds-come-under-further-pressure?utm_source=rss_feed https://www.scmp.com/business/article/3218309/dalian-wanda-units-hong-kong-ipo-application-lapses-third-time-bonds-come-under-further-pressure?utm_source=rss_feed Tue, 25 Apr 2023 10:21:50 +0000 The offshore bonds of Dalian Wanda Commercial Management, the commercial property management arm of Chinese conglomerate Dalian Wanda Group, have taken a hit this week despite the company denying recent rumours of possible extensions to onshore trust loans. The slide in bond prices also comes as a six-month deadline by the Hong Kong stock exchange for the initial public offering of an entity controlled by Dalian Wanda Commercial Management is due to expire by the end of this month. The notes of... https://www.scmp.com/business/banking-finance/article/3217603/dalian-wanda-group-firms-bond-prices-slide-loan-extension-concerns-subsidiarys-ipo-deadline?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3217603/dalian-wanda-group-firms-bond-prices-slide-loan-extension-concerns-subsidiarys-ipo-deadline?utm_source=rss_feed Wed, 19 Apr 2023 10:29:09 +0000 Dalian Wanda Commercial Management is poised to issue US$300 million of high-yielding bonds in the coming days, its second dollar-denominated note offering in less than a month, according to people familiar with the matter. The company, Chinese conglomerate Dalian Wanda Group’s commercial property management arm, was marketing the three-year notes with an initial price guidance of 12.5 per cent earlier on Monday, the people said. It was oversubscribed by more than one-and-a-half times by 7pm... https://www.scmp.com/business/banking-finance/article/3209284/chinese-property-firm-dalian-wanda-tap-offshore-bond-markets-second-time-year-us300-million-offering?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3209284/chinese-property-firm-dalian-wanda-tap-offshore-bond-markets-second-time-year-us300-million-offering?utm_source=rss_feed Mon, 06 Feb 2023 13:11:45 +0000 A unit of Chinese conglomerate Dalian Wanda Group has issued an 11 per cent US dollar bond valued at US$400 million, reversing market expectations about junk debt following a default crisis among indebted Chinese developers. Wanda Properties Global Company, a wholly-owned subsidiary of Dalian Wanda Commercial Management, the conglomerate’s property services arm, issued the two-year bond with a yield above 12 per cent on Thursday. It released the note with an initial price guidance of 12.625 per... https://www.scmp.com/business/china-business/article/3206714/dalian-wanda-unit-issues-first-us-dollar-bond-chinese-developers-debt-crisis-began-raises-us400?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3206714/dalian-wanda-unit-issues-first-us-dollar-bond-chinese-developers-debt-crisis-began-raises-us400?utm_source=rss_feed Fri, 13 Jan 2023 09:30:12 +0000 Dalian Wanda Group, the Chinese conglomerate controlled by billionaire Wang Jianlin, plans to open a new mall in Beijing in June 2023 under its “asset-light” business model, further expanding its shopping-centre empire on the mainland. Wanda has taken over the 300,000-square-metre Wukesong Shopping Center in the northwestern Haidian district and renamed it as Beijing Wukesong Wanda Plaza. It is Wanda’s first mall in the area, and one of the biggest in China’s capital. The mall will definitely... https://www.scmp.com/business/china-business/article/3204599/chinese-billionaire-wang-jianlins-dalian-wanda-open-renovated-beijing-mall-under-asset-light-model?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3204599/chinese-billionaire-wang-jianlins-dalian-wanda-open-renovated-beijing-mall-under-asset-light-model?utm_source=rss_feed Mon, 26 Dec 2022 11:00:11 +0000 One day mid-July in 2017, one of China’s wealthiest men called a hastily organised media conference to announce what would turn out to be the largest corporate bailout in the country amid a regulatory crackdown on profligate deal making. At Dalian Wanda Group’s headquarters building in Beijing – its tenants included a five-star hotel run by Sofitel, an IMAX cinema and a New World department store – the media waited for the property magnate Wang Jianlin to appear. Wang was ensconced in a... https://www.scmp.com/business/companies/article/3178511/chinas-property-crisis-who-and-what-will-save-indebted?utm_source=rss_feed https://www.scmp.com/business/companies/article/3178511/chinas-property-crisis-who-and-what-will-save-indebted?utm_source=rss_feed Sat, 21 May 2022 02:00:22 +0000 Chinese conglomerate Dalian Wanda Group is expanding its foray into the automobiles sector with the formation of a joint venture that will offer car services such as sales and parking. Wanda Automobile Technology Services was founded on Monday with a registered capital of 100 million yuan (US$15.65 million), according to sources close to the group. Tai Qing (Beijing) Technology, its joint venture partner, is a mainland Chinese firm that offers these services. The new company’s formation comes... https://www.scmp.com/business/companies/article/3157248/chinese-conglomerate-dalian-wanda-says-not-getting-business?utm_source=rss_feed https://www.scmp.com/business/companies/article/3157248/chinese-conglomerate-dalian-wanda-says-not-getting-business?utm_source=rss_feed Thu, 25 Nov 2021 00:30:14 +0000 Zhuhai Wanda Commercial Management Group, the property servicing arm of Dalian Wanda Group, filed for a Hong Kong stock exchange listing reportedly valued at up to US$4 billion on Thursday night. The mainland China-based company, which is 69.99 per cent owned by Dalian Wanda Commercial Management Group (DWCM), a Chinese conglomerate controlled by its billionaire founder Wang Jianlin, is seeking to raise between US$3 billion and US$4 billion, according to media reports. The filing document posted... https://www.scmp.com/business/banking-finance/article/3153216/dalian-wandas-property-management-unit-applies-list-hong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3153216/dalian-wandas-property-management-unit-applies-list-hong?utm_source=rss_feed Thu, 21 Oct 2021 14:51:04 +0000 Wang Sicong, the son of Dalian Wanda Group’s billionaire founder and an outspoken social media personality with 40 million followers, has opened fire on Meituan’s data policies just as the country’s dominant food delivery service is grappling with a fine for breaching antitrust rules. Wang said he was locked out of his account on Dazhong Dianping, the restaurants and review service operated by Meituan, when it was linked to another user’s mobile phone number, according to two of his posts on the... https://www.scmp.com/tech/big-tech/article/3151942/chinese-tycoons-socially-influential-son-adds-meituans-antitrust-woes?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3151942/chinese-tycoons-socially-influential-son-adds-meituans-antitrust-woes?utm_source=rss_feed Mon, 11 Oct 2021 15:00:15 +0000 A local subsidiary of Sunac China Holdings, one of China’s most heavily indebted property developers, has come under liquidity pressure, as it was prevented from collecting sales revenues by the government’s market-cooling measures. Sunac’s unit in the Zhejiang provincial city of Shaoxing has had to wait for local authorities to register the titles of its apartments, preventing the developer from collecting more than 4 billion yuan (US$619 million) in sales proceeds. An executive of the Shaoxing... https://www.scmp.com/business/article/3150314/sunac-chinas-unit-shaoxing-faces-liquidity-pressure-government-cooling?utm_source=rss_feed https://www.scmp.com/business/article/3150314/sunac-chinas-unit-shaoxing-faces-liquidity-pressure-government-cooling?utm_source=rss_feed Mon, 27 Sep 2021 11:57:15 +0000 One of China’s most famous scions of an ultra-wealthy family is taking heat after a series of leaked WeChat conversations showed he bullied, threatened and begged a woman who rejected his advances. Wang Sicong, the 33-year-old son of Wang Jianlin, the billionaire founder of Dalian Wanda Group, has been accused of using his status to pressure an online celebrity into dating him.  Wang has long been a celebrity in China, and at one point was called “China’s most eligible bachelor”. Dalian Wanda is... https://www.scmp.com/news/people-culture/gender-diversity/article/3137493/scion-dalian-wanda-accused-sending-abusive?utm_source=rss_feed https://www.scmp.com/news/people-culture/gender-diversity/article/3137493/scion-dalian-wanda-accused-sending-abusive?utm_source=rss_feed Wed, 16 Jun 2021 09:00:00 +0000 Chinese conglomerate Dalian Wanda Group has sold almost all of its stake in US cinema chain AMC Entertainment Holdings, the highly indebted company said on Sunday. “The company has been trimming its position in AMC Entertainment since 2018, in line with our strategy of focusing on the domestic market,” Wanda said. As of Sunday, the company has sold stake worth a total of about US$1.5 billion and retained a 0.002 per cent holding, making a gain of about US$675 million including dividends since... https://www.scmp.com/business/companies/article/3134663/embattled-chinese-conglomerate-dalian-wanda-waters-down-amc?utm_source=rss_feed https://www.scmp.com/business/companies/article/3134663/embattled-chinese-conglomerate-dalian-wanda-waters-down-amc?utm_source=rss_feed Mon, 24 May 2021 11:05:01 +0000 Dalian Wanda Group’s stake in the largest cinema chain in the United States has been diluted to less than 10 per cent, dealing a significant blow to Chinese tycoon Wang Jianlin’s ambition of becoming a global entertainment mogul. Wanda held 9.8 per cent of AMC Entertainment Holdings’ ordinary shares as of March, down from about 23 per cent at the end of 2020, according to AMC’s annual report filed with the US securities regulator on March 12. “Although Wanda is no longer the controlling... https://www.scmp.com/business/china-business/article/3125852/dalian-wandas-amc-stake-falls-less-10-cent-after-dilution?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3125852/dalian-wandas-amc-stake-falls-less-10-cent-after-dilution?utm_source=rss_feed Wed, 17 Mar 2021 16:15:11 +0000 Former Dalian Wanda coach Chi Shangbin died on Saturday at the age of 71, Chinese media reported. The ex-international midfielder was instrumental in turning Dalian into the leading team in China during the 1990s, winning back-to-back league titles in 1996 and 1997. During that run of success Dalian embarked on a 55-game unbeaten streak that remains a Chinese record. Chi stood down at Dalian after the 1997 success and went on to serve as an assistant coach to Bora Milutinovic when China made... https://www.scmp.com/sport/football/article/3124430/chinese-super-league-record-breaking-dalian-coach-chi-shangbin-dies?utm_source=rss_feed https://www.scmp.com/sport/football/article/3124430/chinese-super-league-record-breaking-dalian-coach-chi-shangbin-dies?utm_source=rss_feed Sun, 07 Mar 2021 08:00:21 +0000 Futu Holdings and Tiger Brokers, the online stockbroking platforms backed by two of China’s largest technology companies, have been caught up in a David-versus-Goliath battle half a world away that pits legions of social network users against some of Wall Street’s most powerful hedge funds. The two brokers restricted customers, mostly young traders in mainland China and Hong Kong, from buying new shares of GameStop and AMC Entertainment Holdings on the New York Stock Exchange yesterday. Shares... https://www.scmp.com/business/article/3119779/futu-restore-trading-gamestop-shares-friday-founder-li-says?utm_source=rss_feed https://www.scmp.com/business/article/3119779/futu-restore-trading-gamestop-shares-friday-founder-li-says?utm_source=rss_feed Fri, 29 Jan 2021 08:15:55 +0000 Former Liverpool and Real Madrid manager Rafa Benitez has left Chinese Super League side Dalian Pro by mutual consent, he announced on his website. The Spaniards who also managed Chelsea and Newcastle United in the English Premier League, cited the Covid-19 pandemic in a blog post entitled “Gracias, Dalian”, written on Saturday. “Unfortunately, like so many things in the last year, Covid-19 has changed our lives and our projects,” Benitez wrote. “From today, both my coaching staff and I will... https://www.scmp.com/sport/football/article/3119002/rafa-benitez-leaves-dalian-pro-linked-celtic?utm_source=rss_feed https://www.scmp.com/sport/football/article/3119002/rafa-benitez-leaves-dalian-pro-linked-celtic?utm_source=rss_feed Sun, 24 Jan 2021 03:07:17 +0000 My favourite anecdote to tell at parties is the story of how I became the mayor of a small Chinese village. It all began in early 2019. I was sitting on the Asia desk in Lonely Planet’s London office, staring at my inbox, when an email with a most unusual proposition popped up. It was from the global communications manager at Wanda Group – a man named Yang – asking if I would be interested in coming to China to be the mayor of Danzhai, a small village in Guizhou province. Internet scam alarms... https://www.scmp.com/magazines/post-magazine/travel/article/3114122/how-london-based-editor-became-mayor-small-village?utm_source=rss_feed https://www.scmp.com/magazines/post-magazine/travel/article/3114122/how-london-based-editor-became-mayor-small-village?utm_source=rss_feed Sun, 27 Dec 2020 02:15:16 +0000 Rafael Benitez’s Dalian Pro avoided relegation from the Chinese Super League on Thursday, despite winning just three times in 16 games this season. The Champions League-winning coach breathed a sigh of relief after Dalian overturned a 2-1 first-leg deficit to beat Shijiazhuang Ever Bright 3-2 on aggregate. The former Liverpool and Real Madrid boss saw his side win 2-0 on the evening, just their third victory in the coronavirus-disrupted campaign. “In this difficult situation, in this difficult... https://www.scmp.com/sport/football/article/3106745/csl-rafa-benitez-escapes-relegation-china-after-only-three-wins?utm_source=rss_feed https://www.scmp.com/sport/football/article/3106745/csl-rafa-benitez-escapes-relegation-china-after-only-three-wins?utm_source=rss_feed Fri, 23 Oct 2020 02:21:09 +0000 Dalian Wanda Group, controlled by Chinese billionaire Wang Jianlin, is embarking on an ambitious plan in the Greater Bay Area by tapping into the tourism potentials of Zhaoqing city in southern Guangdong province. The property-to-entertainment conglomerate has teamed up with the Zhaoqing municipal government to develop a state-level tourist resort by 2022, according to a Tuesday notice on Zhaoqing Fabu, the government’s official WeChat account. The resort will include holiday and leisure... https://www.scmp.com/business/china-business/article/3103557/dalian-wanda-unveils-ambitious-zhaoqing-tourism-project?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3103557/dalian-wanda-unveils-ambitious-zhaoqing-tourism-project?utm_source=rss_feed Wed, 30 Sep 2020 01:30:20 +0000 Ming Yuan Cloud Group, a software solutions provider for property developers, plans to raise as much as US$797 million from an IPO in Hong Kong, becoming the first software-focused Chinese proptech firm to debut on the city’s exchange this year. The Shenzhen-headquartered company’s initial public offering is among a spate of applications that have been passed by the Hong Kong stock exchange’s listing committee last week, which could make September one of the busiest months for IPOs this... https://www.scmp.com/business/companies/article/3101468/chinas-ming-yuan-cloud-joins-flurry-companies-seeking-raise?utm_source=rss_feed https://www.scmp.com/business/companies/article/3101468/chinas-ming-yuan-cloud-joins-flurry-companies-seeking-raise?utm_source=rss_feed Mon, 14 Sep 2020 09:01:00 +0000 Dalian Wanda Group, controlled by Chinese billionaire Wang Jianlin, is selling another overseas asset to pare its multibillion-dollar debtload. Its Hong Kong-listed unit Wanda Hotel Development has agreed to sell its 90 per cent stake in the 101-storey Vista Tower for US$270 million to Chicago-based real estate company Magellan Parcel, according to a stock exchange filing on Thursday. The sale will generate a net gain of HK$94 million (US$12.1 million), it added, and hand Magellan Parcel full... https://www.scmp.com/business/companies/article/3095322/billionaire-wang-jianlins-wanda-group-sells-chicago-tower-it?utm_source=rss_feed https://www.scmp.com/business/companies/article/3095322/billionaire-wang-jianlins-wanda-group-sells-chicago-tower-it?utm_source=rss_feed Thu, 30 Jul 2020 08:02:35 +0000 China Evergrande, the nation’s biggest developer by sales, has put 223 commercial properties for sale in a move to tackle its leverage, after issuing two back-to-back profit warnings in the past year. The list of of properties n 111 cities has made it to one WeChat account called “distressed asset industry observations” and other mainland online platforms as the fortunes of China’s top developers come under the spotlight amid a slide in earnings and a surge in vacancy rates during the nation’s... https://www.scmp.com/business/companies/article/3093814/evergrande-puts-223-properties-chopping-block-list-hits-wechat?utm_source=rss_feed https://www.scmp.com/business/companies/article/3093814/evergrande-puts-223-properties-chopping-block-list-hits-wechat?utm_source=rss_feed Mon, 20 Jul 2020 03:30:11 +0000 Stock traders are less than optimistic that Chinese moviegoers will rush back to theatres now they have been given the go-ahead to reopen after coronavirus lockdown. A gauge of 40 companies from cinema chain operators to studios and film makers edged up just 1.2 per cent on Tuesday, having lost 0.4 per cent a day earlier, after China’s State Council said on Friday night that cinemas were free to reopen after an almost four-month shutdown. The muted reaction reflects traders’ jitters about a... https://www.scmp.com/business/markets/article/3084029/movie-stocks-shrug-green-light-reopen-cinemas-traders-see-chinese?utm_source=rss_feed https://www.scmp.com/business/markets/article/3084029/movie-stocks-shrug-green-light-reopen-cinemas-traders-see-chinese?utm_source=rss_feed Tue, 12 May 2020 09:17:13 +0000 Wanda Film Holding, China’s biggest cinema chain operator controlled by billionaire Wang Jianlin, plans to build 50 to 70 new cinemas by the end of this year, shrugging off the crippling effects of the coronavirus pandemic on its business last quarter. The expansion plan follows a State Council edict last week that put the economy on the mend, allowing some entertainment centres across the country to reopen after more than 100 days of shutdown. The news is a relief for the 64 billion yuan (US$9... https://www.scmp.com/business/china-business/article/3083846/wanda-film-open-50-70-new-cinemas-year-drive-market-share?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3083846/wanda-film-open-50-70-new-cinemas-year-drive-market-share?utm_source=rss_feed Mon, 11 May 2020 09:47:14 +0000 A semblance of normal life is slowly returning to China. People are heading to work, visiting malls, and even shopping at the wet markets that were among the places where coronavirus was first identified. But one gathering place remains closed: the cinema. With cinemas closed worldwide, it’s an early and ominous sign of the difficulties the industry will face even after the lockdowns lift. An enclosed space accommodating hundreds of patrons is ill-suited to the social-distancing requirements... https://www.scmp.com/business/companies/article/3080322/chinese-tycoon-wang-jianlins-cinema-empire-feels-pain-theatres?utm_source=rss_feed https://www.scmp.com/business/companies/article/3080322/chinese-tycoon-wang-jianlins-cinema-empire-feels-pain-theatres?utm_source=rss_feed Fri, 17 Apr 2020 01:25:53 +0000 Dalian Wanda Group, the entertainment and property group owned by one of China’s wealthiest men, has described reports that its AMC Entertainment cinema chain is facing imminent collapse as speculation even as its bonds are trading at distressed levels, while its stock crashed this year. “The recent online media speculation that Wanda’s AMC was filing for bankruptcy is pure rumours,” Wanda said in a statement on its website on Tuesday. The company did not immediately respond to email requests to... https://www.scmp.com/business/companies/article/3080003/dalian-wanda-says-reports-about-amcs-imminent-bankruptcy-are?utm_source=rss_feed https://www.scmp.com/business/companies/article/3080003/dalian-wanda-says-reports-about-amcs-imminent-bankruptcy-are?utm_source=rss_feed Wed, 15 Apr 2020 05:21:08 +0000 Property giants China Vanke and Dalian Wanda Commercial Management have unveiled a combined 16 billion yuan (US$225 million) in funding initiatives to help people affected by the coronavirus epidemic. The Vanke Founding Shareholders’ Equity Management Centre, which manages 200 million Vanke shares owned by its employees, has decided to donate all of them to one of Tsinghua University’s education funds to finance the establishment of a public health research institute. Shenzhen-based China Vanke,... https://www.scmp.com/business/companies/article/3078159/chinese-property-giants-china-vanke-and-dalian-wanda-donate?utm_source=rss_feed https://www.scmp.com/business/companies/article/3078159/chinese-property-giants-china-vanke-and-dalian-wanda-donate?utm_source=rss_feed Thu, 02 Apr 2020 11:30:14 +0000 Wanda Sports Group, the China-based sports marketing and event promoter, is considering selling the Ironman triathlon business it bought in 2015, according to people familiar with the matter. The company, part of Chinese billionaire Wang Jianlin’s conglomerate, is working with an adviser and has held discussions with some private-equity buyers that expressed interest in the business, said the people, who asked not to be identified as the information is private. Wanda Sports is seeking about US$1... https://www.scmp.com/business/article/3051024/wanda-sports-considering-us1-billion-sale-ironman-triathlon-business?utm_source=rss_feed https://www.scmp.com/business/article/3051024/wanda-sports-considering-us1-billion-sale-ironman-triathlon-business?utm_source=rss_feed Mon, 17 Feb 2020 11:12:34 +0000 Financial risk has increased among Chinese companies as efforts to cut corporate debt over the past few years have been put on pause as the mainland’s economy has slowed, according to S&P Global Ratings. China’s largest companies saw a “modest erosion” in debt-to-earnings levels in 2018 and that trend is expected to continue this year, the credit rating agency said in a report after conducting a survey of 257 companies in China. “After lowering leverage over 2015-2017, many companies had buffers... https://www.scmp.com/business/china-business/article/3035390/china-eases-gas-pedal-cut-debt-level-corporate-borrowings?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3035390/china-eases-gas-pedal-cut-debt-level-corporate-borrowings?utm_source=rss_feed Tue, 29 Oct 2019 11:30:11 +0000 Chinese conglomerate Dalian Wanda Group said on Wednesday it had formally signed an operational agreement to develop a high-end hospital in partnership with the University of Pittsburgh Medical Centre in Chengdu, in China’s southwestern Sichuan province. Construction work on the 6 billion yuan (US$870.85 million) project started late last year, and it is part of a framework agreement with the US health care provider for the development of general hospitals in five top-tier Chinese cities.... https://www.scmp.com/business/companies/article/3016142/wanda-university-pittsburg-medical-centre-formalise-deal-us870?utm_source=rss_feed https://www.scmp.com/business/companies/article/3016142/wanda-university-pittsburg-medical-centre-formalise-deal-us870?utm_source=rss_feed Wed, 26 Jun 2019 07:34:50 +0000 Newcastle United manager Rafa Benitez has been linked with a move from the English Premier League to the Chinese Super League. In reports that first emerged in The Times, Benitez has reportedly been offered US$15.2 million per year to take the reins at Dalian Yifang. If he accepted, then the 59-year-old would become the highest paid manager in the Chinese top flight, earning more than Fabio Cannavaro’s reported US$14 million per year. The Wanda Group owned club have invested heavily in recent... https://www.scmp.com/sport/football/article/3015325/rafa-benitez-moving-chinese-super-league-side-dalian-yifang-or?utm_source=rss_feed https://www.scmp.com/sport/football/article/3015325/rafa-benitez-moving-chinese-super-league-side-dalian-yifang-or?utm_source=rss_feed Thu, 20 Jun 2019 04:38:37 +0000 This is the final article in a three-part series looking at China’s US dollar shortage risks in the trade war, as it aims to open up its markets. Anbang Insurance Group’s plan to sell its condos at the Waldorf Astoria hotel in New York is the latest in the string of high-profile Chinese divestments that underscores China’s concern that the nation is running short of US dollars. The Chinese holding company bought the Waldorf for a record US$1.95 billion in 2014, but under pressure from the... https://www.scmp.com/economy/china-economy/article/3015049/chinas-concern-over-possible-us-dollar-shortage-risk-forcing?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3015049/chinas-concern-over-possible-us-dollar-shortage-risk-forcing?utm_source=rss_feed Tue, 18 Jun 2019 23:30:12 +0000 Wanda Group, the profligate Chinese conglomerate that is halfway through a massive debt-shedding exercise, is back with its shopping spree, investing as much as 147 billion yuan (US$21 billion) over the past month in several real estate projects in the country. Tycoon Wang Jianlin’s property-to-entertainment conglomerate, which unveiled an 80 billion yuan project in Shenyang said its “world-class” cultural tourism project will comprise an international hospital, an international school and five... https://www.scmp.com/business/companies/article/3010345/property-mogul-wang-jianlins-wanda-group-invest-us117b-world?utm_source=rss_feed https://www.scmp.com/business/companies/article/3010345/property-mogul-wang-jianlins-wanda-group-invest-us117b-world?utm_source=rss_feed Wed, 15 May 2019 13:00:10 +0000 Billionaire businessman Wang Jianlin’s Dalian Wanda Group has announced it will invest 2 billion yuan (US$297 million) in Chinese football. The news came at a groundbreaking ceremony for the Dalian Youth Football Centre, a state of the art, 23-pitch campus that can accommodate 18 teams and up to 600 footballers. The ceremony was attended by Fifa deputy secretary-general Zvonomir Boban in the northeastern port city of Dalian – Wang and Wanda’s hometown. The company promises to make “one of the... https://www.scmp.com/sport/china/article/3008591/billionaire-wang-jianlins-wanda-group-invest-us297-million-dalian?utm_source=rss_feed https://www.scmp.com/sport/china/article/3008591/billionaire-wang-jianlins-wanda-group-invest-us297-million-dalian?utm_source=rss_feed Fri, 03 May 2019 00:00:09 +0000