The Dalian Wanda Group, one of China's largest privately held companies, appears to be prepping to take on the world as a public company.
The conglomerate published half-year results this week, including an announcement in English for the first time. Revenues for the first six months of 2016 rose 11% to 119.9 billion yuan ($17.9 billion).
The company is best-known for being the brainchild of China's richest man, Wang Jianlin. His $30 billion fortune outstrips Alibaba (BABA) founder Jack Ma, and his $22 billion fortune, chest by some stretch.
Wang made his money in real estate, like many of China's tycoons. But he has branched out into movie production, theme parks and sports. Wanda now owns 20% in the Spanish soccer team Atletico Madrid. It also acquired the Ironman triathlon brand and its parent.
U.S. investors will likely know it best for its buyout of New York-listed AMC Entertainment (AMC) , now the second-largest movie chain in the world. Wanda also bought Hoyts Cinema in Australia, also the second-biggest chain there. Wanda also owns the British luxury-yacht maker Sunseeker.
Overseas income now amounts to 14.8% of revenues. The tally at 17.7 billion yuan was up 78.6% from the same time the year before. Property revenue fell 17.3% year-on-year, although that was better than forecast. Its commercial-properties unit is listed in Hong Kong (HK:3699).
Despite raising $3.7 billion in the Hong Kong IPO, it now wants to take that entity private. Wanda watchers figure it may be a move to make the most of the higher valuations placed on domestically listed Chinese stocks with an IPO on the mainland.
But with its increasingly international nature, it may follow Alibaba in shifting its listing to New York. A private company listing earnings in English is somewhat unusual in China, setting up a track record for U.S. investors to follow. Watch this space.