Wang Jianlin-backed Wanda Film hits 1-month high on solid 11-month box office revenue

Damai Entertainment Holdings

11/12/2018 02:24

** Shares in China's Wanda Film Holding Co Ltd  002739.SZ ,
ultimately controlled by Chinese billionaire Wang Jianlin, climb
as much as 3.9 pct to a one-month high, as the leading cinema
operator reports strong 11-month box office revenue
    ** The CSI media index  .CSI399971  up more than 1 pct 
    ** Co says its Jan-Nov box office revenue grew 13.6 pct y/y
to 8.79 bln yuan ($1.28 bln)  urn:newsml:reuters.com:*:nL3N1YF2Y0 
    ** The stock rally also comes as Alibaba Group Holding Ltd
 BABA.N  ups its bet in Alibaba Pictures Group Ltd  1060.HK 
 urn:newsml:reuters.com:*:nL3N1YF1DI 
    ** "Currently, we believe the valuations for Wanda Film, an
industry leader with distinct competitive strength, are
relatively reasonable, and we also see solid performance growth
in the medium to long-term," Zhongtai Securities says in a
report 
    ** Plan is underway for co to acquire a 96.8 pct stake in
Wanda Media for about 10.65 bln yuan via share issue
 urn:newsml:reuters.com:*:nL4N1Y13QM 

($1 = 6.8733 Chinese yuan)

 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))