Wanda Film announced today that it plans to change its company name to Ru Yi Film Entertainment Co., Ltd. and change its stock abbreviation to Ru Yi Film, and accordingly revise the Articles of Association.

In April 2024, Wanda Film announced that Beijing Wanda Cultural Industry Group Co., Ltd. and Wang Jianlin have respectively transferred 20% and 1.2% of their shares in Beijing Wanda Investment Co., Ltd., and have completed the formalities for the business change registration.

The transferee of the above shares is Shanghai Ru Yi Investment Management Co., Ltd.

In addition to the previously transferred shares, the "Ru Yi system" holds 100% of the shares of Wanda Investment. Since Wanda Investment is the controlling shareholder of Wanda Film, the "Ru Yi system" indirectly controls Wanda Film.

What is the background of Ru Yi? I won't say more, ponder for yourself.