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Wanda's 2017 revenue down 10.8% amid asset sales
Its chairman pledges to reduce corporate debt through all available means, including the sale of non-core assets
Add BT as a preferred sourcePublished Sun, Jan 21, 2018 · 09:50 PM
Hong Kong
CHINESE conglomerate Dalian Wanda Group's revenue fell by 10.8 per cent in 2017, the second consecutive year it declined, as the debt-laden group sold off property assets and faced increasing scrutiny from regulators and lenders.
The property-to-entertainment group, owned by tycoon Wang Jianlin, reported 227.4 billion yuan (S$46.95 billion) in revenue for last year, while net profit remained flat compared with 2016, according to a statement posted on the company's website on Saturday. It did not reveal the profit figure.
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