TCL announces 100 million dollar stake in Wanda Business as cornerstone Investor

January 6, TCL issued a notice announced with Wanda Group signed a strategic cooperation letter of intent, its wholly-owned subsidiary Xi Yun Investment 100 million U.S. dollars to subscribe for the latter shares and become its cornerstone investors.

According to the bulletin, TCL will become the strategic supplier of Wanda Group. In commercial real estate, hotel business, cinema line business and department store business areas for Wanda Development, design and customization of the required systems and terminal equipment, application support platform. Meanwhile, the two sides will also cooperate in the field of Internet application and service platform cooperation. In addition, TCL will explore with Wanda the possibility of further cooperation in such areas as large data and cloud services.

December 23 last year, Wanda commercial real estate listed in Hong Kong, financing scale of 4.27 billion U.S. dollars, refreshing the global real estate industry IPO record. Investment agencies including the Kuwait Investment Authority, China Life and Ping An, China have subscribed to their shares. At the same time, Wanda chairman Wang has said that before Wanda's main source of income is the real estate industry, the future is the main direction of culture, tourism, finance, electricity business four areas, including international mergers and acquisitions will also have relatively large movements. He also stressed that the plan for the transformation of Wanda will be officially announced on January 17 this year.