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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Posted inHeavy Hitters
Suning.com acquires 80% stake in Carrefour China
Scale and differing corporate cultures and business model may prove obstacles for Suning to integrate Carrefour China, says one expert.
Posted inTurf Wars
Briefing: Online retailer Suning to open 15,000 offline stores in 2019
Founded by Zhang Jindong and his elder brother in 1990, Suning is China’s largest omnichannel retailer.
Posted inNews
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 […]
Posted inNews
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 […]
Posted inNews
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 […]
Posted inNews
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 […]
Posted inNews
Jack Ma doubles down on Alisports with RMB 1.2 billion funding
Alisports (阿里体育 in Chinese), the sports arm of Chinese e-commerce giant Alibaba, has reportedly landed a series A worth more than RMB 1.2 billion, as part of its efforts to beef up its presence in the country’s burgeoning sports sector, local media is reporting (in Chinese). The funding round, led by Yunfeng Fund (Jack Ma’s VC […]
Posted inNews
Alibaba is revamping China’s offline retailing through a bottom-up approach
Alibaba’s expansion to brick-and-mortar stores started two years ago with a series of investments and acquisitions that worth as much as US$8 billion. To strengthen the offline foray, the Chinese e-commerce giant, which earns hefty profit margin because it does not hold inventories, is rewriting its asset-light model by opening Hema Xiansheng brand and Alibaba […]
Posted inNews
Tencent-Baidu-Wanda Unveil E-commerce Site Ffan To Compete With Alibaba
One year after its establishment, Tencent-Baidu-Wanda’s e-commerce joint venture has finally rolled out e-commerce service Ffan to tap into China’s O2O e-commerce industry. In essence, Ffan is an open platform that aims to redirect online users to all kinds of offline services, such as parking, reservations at restaurants, and purchasing film tickets and products at discounts. The […]
