Dalian Wanda Group said on Wednesday that it has already entered the Fortune Global 500 list and plans to make more acquisitions, as it transitions from a Chinese real estate company to a global sports, entertainment and tourism giant.
The list, published annually by Fortune magazine, ranks the biggest companies in the world.
According to a note sent to the Global Times, the company said its overseas income is forecast to reach 30 percent of the total by 2020.
So far, the company's overseas revenue in the first half of 2016 accounted for 14.8 percent of total revenue, reaching 17.69 billion yuan ($2.64 billion).
According to its business strategy, services will account for over two-thirds of its revenue and net income by the end of 2017, up from about 40 percent in 2015, and the cultural industry will become an increasingly important part of it.
Revenue from Cultural Industry Group skyrocketed 57 percent in the first half of 2016 from a year earlier to 29 billion yuan. By 2020, the group's revenue is forecast to reach 150 billion yuan, up from 51.3 billion yuan in 2015.
Also, its tourism arm is poised to become the world's largest firm in its category by 2020, with an annual income of 100 billion yuan. Wanda Sports Holdings, also the world's biggest, is planning to bring 10 global sports events to China by 2020.
Wanda has added movie theaters, film production companies, sports-marketing company Infront Sports & Media, Club Atletico de Madrid, and IRONMAN to its portfolios in recent years.
Among the list, there are more Chinese companies in it, and the number reached 110.
There are another Chinese companies from the mainland listed in it for the first time, including JD.com Inc, Midea Group Co and China Vanke Co.
State Grid and China National Petroleum ranked the second and third, respectively.
