Billionaire Wang Jianlin’s Wanda Posts Third Annual Revenue Drop on Asset Sales

Dalian Wanda Group Co.’s sales declined for a third year as Chinese billionaire Wang Jianlin’s conglomerate continues to divest assets under government scrutiny.

Revenue fell 5.7 percent to 214.3 billion yuan ($31.7 billion) in 2018, the once-acquisitive group said in an emailed statement Saturday. The statement didn’t say if the company was profitable or loss-making last year. Total assets dropped 11.5 percent to 625.7 billion yuan, it said.