Wanda Commercial Properties now known as Wanda Hotel Development Company has been expected to list on the Hong Kong Stock Exchange.

The change in name was also accompanied with registering its new e-commerce venture with Tencent and Baidu in the country. The joint venture among the companies has been seen to drive the decreasing sales in the business in China. Meanwhile, an insider tip was cited by the China Business Journal saying the new firm was initially planned by Wanda to be listed in Hong Kong after its application on the Shanghai bourse lapsed last July.

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Last month, Wanda and the two net giants announced they would put up an e-commerce firm with the former holding 70% in the company. Meanwhile, Baidu and Tencent would each hold a 15% stake, respectively. The venture by the three industry giants was established with an initial capital valued at 5 billion yuan.

Earlier this year, Wanda’s chairperson and at the same time the richest man in China, Wang Jianlin, said the company would apply for listing in 2014 for two of its main subsidiaries. However, he did not mention names of which companies would be part of the listing drive.

Data shown on Wanda’s website reported that Wanda Commercial Properties has already opened 95 Wanda Pizzas as of August 29 this year around China. The data also added running a total of 60 luxury hotels in the country with more than 18 million square meters of properties.

However, the subsidiary arm reported 70.4 million yuan revenue in the first half of 2014 compared to 910 million yuan from the same period in 2013. The company’s revenue has slumped by 92% after being affected by the increasing number of e-commerce companies in the country.

In addition, the company reported 45.9 million yuan worth of losses. Last year, the subsidiary’s net profit was at 162 million yuan.

Tagswanda group, Wanda Commercial Properties, Wanda Hotel Development Company, Hong Kong