Since joining the Wanda Group in 2006, Mr. Zeng has held other positions within the Wanda Group. Wanda Sport Group's full-service platform creates value for its partners and clients as well as other stakeholders in the sports ecosystem, from rights owners, to brands and advertisers, and to fans and athletes.

BEIJING, July 14 (Xinhua) -- Wanda Film Holding Co., Ltd. on Tuesday reported a notable net loss in the first half of the year (H1) as COVID-19 forced China's biggest movie theater operator to shut its theaters. Mr. Zeng holds an undergraduate degree and a master's degree in business administration from Renmin University in China. The resulting reduction in our indebtedness will generate a meaningful finance cost savings of 33% compared to the previous year.". In connection with the sale, Andrew Messick, President and Chief Executive Officer of The IRONMAN Group, resigned, effective as of today, from his position as Director of Wanda Sports Group. In connection with the sale, Andrew Messick, President and Chief Executive Officer of The IRONMAN Group, resigned, effective as of today, from his position as Director of Wanda Sports Group.

Since joining the Wanda Group in 2006, Mr. Zeng has held other positions within the Wanda Group. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements and, consequently, could be affected by the uncertain and unprecedented impact of COVID-19 on the Company's business and operations and the related impact on its liquidity needs. ", Mr. Brian Liao, Chief Financial Officer of Wanda Sports Group commented, "We are pleased with the additional liquidity we are able to unlock through the application of a portion of the proceeds of the sale that closed today. BEIJING, July 14 (Xinhua) -- Wanda Film Holding Co., Ltd. on Tuesday reported a notable net loss in the first half of the year (H1) as COVID-19 forced China's biggest movie theater operator to … Zeng has served as the President of Wanda Film Holding Co., Ltd. (formerly known as Wanda Cinema Line Corporation), a subsidiary of Wanda … This announcement contains forward-looking statements. As a result of the sale, net proceeds are expected to be in the range of US$380 million (which reflects deductions for existing indebtedness and transaction expenses, as well as the Company's expectations as to the ultimate outcome of an ongoing post-closing purchase price adjustment process).

Wanda Sports Group is a leading global sports events, media and marketing platform with a mission to unite people in sports and enable athletes and fans to live their passions and dreams. Additional information will be made available in future filings that the Company makes from time to time with the SEC.

In addition, any forward-looking statements contained in this press release are based on assumptions that the Company's believes to be reasonable as of this date. I am pleased that The IRONMAN Group will continue to work with us to further expand our mass participation business, in China, for the benefit of all of our stakeholders. Mr. Zeng served as Senior Vice President of Wanda Cultural Industry Group from October 2016 to July 2017.

As a result of the sale, net proceeds are expected to be in the range of US$380 million (which reflects deductions for existing indebtedness and transaction expenses, as well as the Company's expectations as to the ultimate outcome of an ongoing post-closing purchase price adjustment process).

SCG Packaging Public Company Limited Company Profile Registration No.

Mr. Zeng succeeds Mr. Lin Zhang, who steps down from his positions as Chairman and Board member and will assume a new role within the broader Wanda Group. Mr. Hengming Yang, President and CEO of Wanda Sports Group said: "The successful completion of this transaction within the anticipated time frame was a priority for us. Wanda Sport Group's full-service platform creates value for its partners and clients as well as other stakeholders in the sports ecosystem, from rights owners, to brands and advertisers, and to fans and athletes. The company suffered a net loss in the range of 1.5 billion yuan (214 million U.S. dollars) to 1.6 billion yuan in H1, compared with a profit of 524 million yuan during the same period last year, the company said in its preliminary earnings estimate, filed with the Shenzhen Stock Exchange. For more information, please visit http://investor.wsg.cn/investor-relations.

These forward-looking statements include, but are not limited to, statements about: the impact of the spread of COVID-19 and related mitigation efforts on the Company's business, operations and operating results; the Company's goals and strategies, including following the completion of the sale of the IRONMAN Group; the expected growth in the Company's industry; the Company's expectations regarding its ability to attract rights-in partners and monetize their rights through rights-out arrangements; changes in consumer behavior and consumer and corporate spending, including as a result of the COVID-19 crisis; the Company's ability to reach acceptable levels of engagement with its athletes following the COVID-19 crisis; the Company's future business development, results of operations and financial condition; competition in the Company's industry; general economic and business conditions, including as a result of the COVID-19 crisis; the outcome of discussions with rights owners and lenders to mitigate the impact of the effects of COVID-19 on the Group; and assumptions underlying or related to any of the foregoing as well as risks, uncertainties, and other factors described in "Risk Factors" and elsewhere in the Company's annual report on Form 20-F for the year ended December 31, 2019, which is available on the SEC's website at www.sec.gov.

Mr. Zeng holds an undergraduate degree and a … Effective today, Mr. Zeng also joins, in place of Mr. Zhang, each of the Board's three board committees (the Audit Committee, the Compensation Committee and the Nomination and Corporate Governance Committee).

BEIJING, July 20, 2020 /PRNewswire/ -- Wanda Sports Group Company Limited (the "Company" or "Wanda Sports Group") (NASDAQ: WSG) today announced that the Company has completed the previously announced sale of The IRONMAN Group to Advance, a private, family-owned business that invests in a broad range of media and technology companies, reflecting an enterprise value of US$730 million (before closing adjustments).

These forward-looking statements can be identified by terminology such as "will," "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal" and similar statements. For inquiries related to Advance, please contact: Advance (www.advance.com) Naomi TudhopeE-mail: [email protected], SOURCE Wanda Sports Group Company Limited, Cision Distribution 888-776-0942 from 8 AM - 9 PM ET, Copyright © 2020 PR Newswire Association LLC. Learn about Performance/Financial Information. For more information, please visit http://investor.wsg.cn/investor-relations. We remain committed to growing our Mass Participation segment globally and driving further growth in the Chinese market. The company also cited postponed releases of movies it invested in, and the delayed shooting of TV dramas. These forward-looking statements can be identified by terminology such as "will," "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal" and similar statements. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Mr. Zeng brings with him a wealth of experience based on holding a range of executive and other positions within the Wanda Group. The Company used a portion of the net proceeds to repay the principal amount of US$240 million and related interest and fees outstanding under its existing 364-day facility, and intends to imminently use a portion of the net proceeds to repay US$50 million outstanding under a promissory note issued to Wanda Sports & Media (Hong Kong) Holding Co. Limited. Wanda Sports & Media (Hong Kong) Holding Co. Limited, a wholly-owned subsidiary of Dalian Wanda Group Co. Ltd., is pleased to submit this preliminary non … Mr. Zeng has served as the President of Wanda Film Holding Co., Ltd. (formerly known as Wanda Cinema Line Corporation), a subsidiary of Wanda group, since June 2015, and has served as a member of its board of directors since January 2013. FUJIFILM Holdings Website. Headquartered in China, Wanda Sports Group has more than 53 offices in 16 countries with over 1,200 employees around the world. 0107537000921 Head Office Address 1 Siam Cement Road, Bangsue, Bangkok 10800 Business Type The Company generates revenue from holding shares in other companies (Holding Company), operating core business for packaging solutions …

Additional information will be made available in future filings that the Company makes from time to time with the SEC.

Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements and, consequently, could be affected by the uncertain and unprecedented impact of COVID-19 on the Company's business and operations and the related impact on its liquidity needs.

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