BEIJING, December 6 (AsianFin) -- Wanda Film, a major player in China's film industry, on Wednesday announced a significant change in its shareholding structure. The company's indirect controlling shareholder, Beijing Wanda Cultural Industry Group Co., Ltd., and its wholly-owned subsidiary, Beijing Hengrun Enterprise Management Development Co., Ltd., along with billionaire Wang Jianlin, the actual controller of the company, have initiated the transfer of their combined 51% stake in Beijing Wanda Investment Co., Ltd., Wanda Film's controlling shareholder, to Shanghai Ruyi Investment Management Co., Ltd. This move is set to change the control of Wanda Film. Upon the completion of the transaction, Shanghai Ruyi will directly own a 49% stake in Wanda Investment but will not appoint directors or manage the company's day-to-day operations, and will not consolidate Wanda Investment into China Ruyi's financial statements.