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Wanda Film suspends stock-trading after share price plummets

By Du Xiaofei (People's Daily Online)    14:58, June 22, 2017

Wang Jianlin, the Chairman of Wanda Group (file photo)

Wanda Film, a subsidiary of Dalian Wanda Group, has applied to the Shenzhen Stock Exchange for its shares to suspend trading from 1 p.m. on June 22.

In the morning, the share price of Wanda Film dropped by 9.9 percent to 88.3 RMB, approaching the point of suspension. Its share-price dive is believed to be caused by the “internal information” of banks, including China Construction Bank, which allegedly advised their staff to dump Wanda bonds.

(File photo)

Wanda Group, China's largest commercial property company and the world's largest cinema chain operator, issued a statement on its website at noon, clarifying that “after an investigation, banks such as China Construction Bank never issued such notices, and speculation online is nothing more than rumor. We hereby state that all operations are fine, and we sincerely hope that people will not trust or circulate the rumors.”

Snapshot of Wanda's Statement

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hu Ximeng, Bianji)

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