Yesterday, real estate and entertainment conglomerate Dalian Wanda Group announced (in Chinese) that it had sold a 12.77% stake in its film subsidiary, Wanda Film, for RMB 7.8 billion ($1.24 billion dollars). The buyers of the minority stake are e-commerce giant Alibaba and the state-backed Cultural Investment Holdings. Alibaba will be acquiring a 7.66% stake […]
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LY.com Merges Wanda Tourism, A Final Move Towards IPO?
LY.com, a leading player in China’s local attraction ticket arena, announced on Sunday it’s going to merge Wanda Tourism, the traveling arm of Chinese real estate conglomerate Dalian Wanda Group, with a mixture of cash and stock. After the transaction, LY.com’s market valuation will exceed 20 billion RMB (around $2.98 billion USD) with a cash deposit of […]
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China Tech Talk 40: Unpacking China’s “new retail”
Matt and John try to understand the recent (and not so recent) moves by China’s internet giants into offline retail. Links Alibaba to invest $4.6 billion in China electronics retailer Suning JD vs Alibaba: The war for China’s fresh food Alibaba is revamping China’s offline retailing through a bottom-up approach Tencent to challenge Alibaba’s new […]
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Node Worthy 17: AI, blockchain, and Tencent’s move into the offline world
This week we talk the recent EmTech China conference, AI, blockchain, and Tencent’s move into the offline world. Download this episode Links Blockchain buzzwords, changes, and challenges: EmTech China blockchain panel EmTech China reveals what jobs will be left for humans after AI takes over Tencent may invest in Carrefour China as internet giants extend […]
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Vivo becomes official World Cup sponsor until 2023
Editor’s note: A version of this post first appeared on Yicai Global, the English-language financial news service of Shanghai Media Group. Yicai Global is one of just two dedicated Chinese news feeds connected to the Bloomberg terminal. China’s smartphone maker Vivo will become an official sponsor of the FIFA World Cups 2018 and 2022 to be […]
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Alibaba and Tencent founders are now China’s richest people
Founders of two Chinese tech giants are now the richest people in the country, according to latest estimates by Forbes. Jack Ma, Chairman of Alibaba Group, unseated Wang Jianlin of Dalian Wanda Group, China’s largest real estate developer as well as the world’s largest movie theater operator in May to become China’s richest person. As of July 21, Ma has a net worth […]
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Is There A Film Industry Bubble? China’s Top Tech-Backed Figures Weigh In
The speed with which the Chinese film industry has developed in recent years has been dizzyingly fast, even for the country’s most experienced veterans. “Less than a decade ago it was the filmmakers who went out looking for financing,” Alibaba Pictures CEO Zhang Qiang told a forum on finance and film at the Shanghai International […]
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Alibaba Pictures Invests in Hangzhou Cinema Company
Alibaba Pictures, the entertainment arm of the Chinese e-commerce giant, is investing RMB 100 million (US$15.2 million) for an 80 percent stake in a movie theater operator in its hometown of Hangzhou, as it takes on rival Dalian Wanda. The company will acquire around 61 percent of Hangzhou Xingji from shareholder Hangzhou Kunwei for RMB […]
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Local Companies Dominate The List Of Top 30 Employers In China, Led By Tencent
On Friday, Zhaopin.com announced their annual China Best Employer Award with Tencent as the #1 employer in China. This annual award is jointly issued by Zhaopin and Peking University’s Institute of Social Science Survey. Now in its 11th consecutive year, the award has become a valuable reference for job seekers in China. This year, more than […]
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Tencent shows off their vision for the future of unmanned retail
As “new retail” changes from jargon to oft-used phrase, Tencent has thrown their hat into the ring. However, they don’t plan on opening their own stores (the WeChat pop-up seems to have been exactly that). Rather they want to be the foundation to help the retail industry achieve two goals: the digital upgrade of stores and […]
