Wanda Group's cinema chain subsidiary unit Wanda Cinema Line posted an over-40-percent box-office revenue increase. (Photo : www.english.caixin.com)
For the first half of 2015, Wanda Cinema Line has reached nearly 3 billion yuan in box-office revenue, the company announced.
The 2.85-billion-yuan mark is a 43.3-percent year-on-year increase for China's largest cinema operator.
On Monday, the share price was closed at 197.71 yuan in the Shenzhen bourse. However, analysts claim that it is hard to say whether the figure is a reaction to the revenue results or merely because of the market's general volatility.
Wanda Cinema Line, which was only freshly listed, gathered around 102 million moviegoers in 2014.
Owned by China's richest man, Wang Jianlin, the cinema chain is a subsidiary of leading real-estate firm Dalian Wanda Group. In 2012, it purchased North America's AMC Entertainment, the region's second biggest cinema operator, for $2.6 billion.
Wanda Cinema Line is currently involved in cinema construction, film screening and distribution. It also covers other related businesses such as advertising.
In August, the group announced that it is developing its Hollywood presence and is spending around $1.2 billion for this endeavor. It also won a bid for a piece of land at the Beverly Hills, which will serve as the headquarters of its U.S. operations.
Wanda Investment, where Wang owns a 98-percent share, has a 68-percent ownership of the cinema chain.
In 2014, Wanda Cinema Line opened 40 new theaters for a total of 369 screens. This brings a total of 182 cinemas and 1,616 screens for the group by the end of last year.
In the national context, China had 23,600 screens. The world's second largest cinema market is expected to take over the current biggest, which is the United States, in the next few years.
