Wanda records more than 30% growth over past nine years

19.01.2015

On January 17th, Wanda Group announced their financial results for the fiscal year ended December 31st, 2014. Despite the continued slowdown of the Chinese economy, Wanda has comprehensively performed above expected targets and brought business development to a whole new level. Company assets reached RMB534.1 billion, a year over year growth of 34.5%, and income totaled RMB242.48 billion, 101% of its annual target and an increase of 30% from 2013, making 2014 the ninth year in a row to have grown over 30% annually. Net profit also increased significantly.
Wanda Commercial Properties recorded contract sales of RMB160.15 billion, approximately 100.1% of its annual target and growing 26.8% from last year. Of this number, RMB11.08 billion came from rental income, a year over year growth of 32.7% on a 100% rental collection rate which maintains a leading global position, and a total property area spanning 21.57 million square metres, an increase of 32.0% year over year.
The Group’s income from the cultural industry totaled RMB34.14 billion, which was 108.9% of its expected annual target and a yearly increase of 32.3%.
Over the year Wanda opened 24 new department stores, reaching a total of 99 stores across the country. Income from these department stores reached RMB25.6 billion, completing 101.6% of its estimated target and a year over year increase of 65.3%, far exceeding annual profit targets. In the midst of a difficult year for department stores, Wanda emerged as an industry bright spot.
Wanda Group achieved some remarkable results in 2014, transforming and upgrading their business and realizing income growth from the cultural tourism industry that far surpasses that of their investments in the real estate industry. Cultural tourism is leading the way in a number of sectors: December 20th saw the opening of two major cultural projects, the Wuhan Han Show and Wuhan Movie Park, and half a year’s worth of tickets were quickly sold out. Wanda’s income from the tourism industry reached RMB7.51 billion, rising to the top of the domestic tourism industry in just a year of operation and transporting a large number of visitors to and from Wanda’s cultural tourism projects. The Group’s forays in to film and television have been exemplary with an annual income of RMB430 million, reaching 121% of its estimated target for the year. Wanda’s success has cemented cultural tourism as a new pillar industry.