Dalian Wanda, the Chinese retail conglomerate aiming for a listing in Hong Kong this month, has added pig farming to its expansive list of business units, which includes such diverse things as Chinese property and the popcorn sold in its chain of US cinemas.
Yesterday the company announced a Rmb1bn ($163m) investment in pork production in Guizhou, China’s poorest province. The investment is being billed as a charitable donation, although the pork will eventually be sold in the group’s retail chain or partner stores, according to a Dalian Wanda statement.
Would-be investors in the likely $3bn-$4bn initial public offering of a property division will scrutinise the investment for what it says about the company – which is either a cleverly diversified financial titan or, to its critics, a random grab-bag of investments across two continents.