Fosun International

Last updated

Fosun International Limited
Company type Public
SEHK:  656
Industry Conglomerate
Founded
  • 1992 (1992) (predecessor)
  • 1994 (1994) (as Fosun Hi-tech)
  • 24 December 2004 (2004-12-24) (as Fosun Intl.)
Founder
Headquarters
  • Shanghai, China
  • Hong Kong (registered office)
Key people
  • Co-Chairman: Guo Guangchang
  • Co-Chairman: Wang Qunbin
  • Co-CEO: Chen Qiyu
  • Co-CEO: Xu Xiaoliang
Services Diversified Investments
RevenueIncrease2.svg US$25.4 billion [1] [2]  (2021)
Increase2.svg US$1.6 billion [1] [2]  (2021)
Total assets Increase2.svg US$126.48 billion [1]  (2021)
Number of employees
71,000 [3]  (2019)
Parent Fosun International Holdings
Chinese name
Simplified Chinese 复星国际有限公司
Traditional Chinese 復星國際有限公司

Fosun has a wide array of business activities, including investing in other firms, managing a number of private equity funds, and entering joint ventures.

Equity investments

Fosun has invested in a number of businesses throughout different sectors, such as asset management, insurance, and industrial operations.

Asset management

Banking

Entertainment

Fashion

Formerly named Fosun Fashion, the fashion sector of Fosun's business is now named Lanvin Group. [53]

Food and drink

Industrial operations

Insurance

Investment

Media

Private hospitals

Real estate

Retail

Technology

Tourism

Fosun-managed private equity funds

Joint ventures

Former equity investments

Shareholders

The major shareholder of Fosun International was a Hong Kong incorporated company Fosun Holdings, [48] which was a wholly owned subsidiary of British Virgin Islands incorporated company Fosun International Holdings. Three founders of Fosun International, Guo Guangchang, Liang Xinjun and Wang Qunbin, owned 64.45%, 24.44% and 11.11% respectively in Fosun International Holdings. [48] Fan Wei, another founder, withdrew his stake in Fosun International Holdings in September 2015. [48]

Related Research Articles

<span class="mw-page-title-main">Axa</span> French multinational insurance firm

Axa S.A. is a French multinational insurance company headquartered in the 8th arrondissement of Paris. It also provides investment management and other financial services.

<span class="mw-page-title-main">Ping An Insurance</span> Chinese insurance company

Ping An Insurance known also as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese financial services holding company whose subsidiaries provide insurance, banking, asset management, financial services. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well".

<span class="mw-page-title-main">People's Insurance Company of China</span> Chinese insurance company

The People's Insurance Company (Group) of China Limited, known as PICC Group or just PICC, is a Chinese listed insurer. The Chinese Central Government is the controlling shareholder.

<span class="mw-page-title-main">Warburg Pincus</span> New York private equity firm

Warburg Pincus LLC is a global private equity firm, headquartered in New York City, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. As of October 2023 the firm had over $82 billion in assets under management and invests in a range of sectors including retail, industrial manufacturing, energy, financial services, health care, technology, media, and real estate. Warburg Pincus is a growth investor. Warburg Pincus has raised 21 private equity funds which have invested over $100 billion in over 1,000 companies in 40 countries.

<span class="mw-page-title-main">Genworth Financial</span> American insurance company

Genworth Financial, headquartered in Richmond, Virginia, provides life insurance, long-term care insurance, mortgage insurance, and annuities.

<span class="mw-page-title-main">AIA Group</span> Hong Kong-based multinational insurance and finance company

AIA Group Limited, often known as AIA, is a Hong Kong-based multinational insurance and finance corporation. It is the largest publicly listed life insurance group in Asia-Pacific. It offers insurance and financial services, writing life insurance for individuals and businesses, as well as accident and health insurance, and offers retirement planning, and wealth management services, variable contracts, investments and securities.

<span class="mw-page-title-main">Guo Guangchang</span> Chinese businessman and investor (born 1967)

Guo Guangchang is a Chinese businessman and investor. He is the chairman and co-founder of Fosun International Limited, and a representative of the 12th Chinese People's Political Consultative Conference. According to Hurun Report's 2019 China Rich List he was the 45th richest person in China. As of 2022 he has a net worth of 3.8 Billion.

Guangdong Yashili Group Co., Ltd. is a leading privately owned infant formula and soymilk products company in China. Based in Chaoan in the Chaozhou region of the Guangdong Province, China and, incorporated in the Cayman Islands. The company also has a Hong Kong-listed entity Yashili International Holdings Limited.

<span class="mw-page-title-main">Nanjing Iron and Steel Company</span> Chinese steel maker

Nanjing Iron and Steel Co., Ltd. is a publicly traded steel maker based in Nanjing, Jiangsu Province, China. The parent company of NISCO is Nanjing Nangang Iron and Steel United Co., Ltd., a joint venture of Hong Kong listed company Fosun International and Chinese state-owned enterprise Nanjing Iron and Steel Group in a 60–40 ratio.

Nanjing Iron and Steel Group Corp., Ltd. is a Chinese conglomerate company based in Nanjing, Jiangsu Province, China. It was a state-owned enterprise, but now it is a joint venture of Nanjing Iron and Steel Venture Investment and state-owned enterprise Nanjing New Industrialization Investment Group in a 51–49 ratio. Nanjing Iron and Steel Group formed another joint venture with Fosun International as an intermediate holding company of Nanjing Iron and Steel Company, in a 60–40 ratio. On 31 December 2015 Fosun International appointed Nanjing Iron and Steel Group as a proxy for 1/6 of their voting rights, making the voting rights were equally shared between Nanjing Iron and Steel Group and Fosun International after 31 December 2015.

<span class="mw-page-title-main">Yuyuan Tourist Mart</span>

Shanghai Yuyuan Tourist Mart Co., Ltd. is the largest retailing conglomerate in China.

<span class="mw-page-title-main">Huayi Brothers</span> Chinese film production company, record label and talent agency

Huayi Brothers Media Corp. is a Chinese multinational entertainment company that owns a film studio, a television production company, a talent agency, a record label, entainterment theme parks, and a movie theater chain founded in Beijing, Shanghai, Hong Kong, Macau, & Taipei by Dennis Wang Zhongjun and James Wang Zhonglei in 1994. The company made world news on October 30, 2009, when the Shenzhen Stock Exchange ChiNext Board was halted, after HBMC's stock price reached 122.74 percent above its IPO price, to open at 63.66 yuan per share. Patrick Frater of Variety called it "China’s largest private sector film conglomerate". In 2014, the company was the seventh-largest film distributor in China, with 2.26% of the market.

<span class="mw-page-title-main">Wanda Group</span> Chinese conglomerate

Wanda Group, or the Dalian Wanda Group (大连万达), is a Chinese multinational conglomerate founded in Dalian, Liaoning and headquartered in Beijing. With regards to the conglomerate's core businesses, the company operates as a private property developer and entertainment company, effectively acting as the owner of Wanda Cinemas and the Hoyts Group line of cinema chains.

Doug Korn is an American businessman and political donor.

Britam Holding PLC is a leading diversified financial services group and is listed on the Nairobi Securities Exchange. The group has presence in seven Africa countries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi.

<span class="mw-page-title-main">Anbang</span> Chinese financial services company

Anbang Insurance Group was a Chinese holding company whose subsidiaries mainly deal with insurance, banking, and financial services based in Beijing. As of February 2017, the company had assets worth more than CN¥1.9 trillion. The Financial Times described Anbang as "one of China’s most politically connected companies."

CSC Financial Co., Ltd. trading as China Securities, is a Chinese investment bank and brokerage firm established by CITIC Securities and China Jianyin Investment in 2005 in a 60–40 ratio, as a successor of bankrupted China Securities Co., Ltd. (CSC). However, the firm now majority owned by Jianyin Investment's parent company Central Huijin Investment and an asset managing subsidiary of Beijing Municipal People's Government.

BHR Partners is a Chinese private equity firm. The company was renamed to BHR Partners (Shanghai) Equity Investment Fund Management Co., Ltd. on May 31, 2023. BHR Partners was founded in 2013 by Bohai Industrial Investment Fund Management Co., Ltd., which is controlled by Bank of China Limited whose focus is on mergers and acquisitions, investments, and reforms as part of the country's state-owned enterprises.

Fan Wei is a Chinese businessman and investor. He was one of the founder of Hong Kong incorporated public company Fosun International; he also founded its predecessor, Fosun Group, in the mainland China. He partially owned Fosun International indirectly until 2015. Fan owned 5 shares out of 50 shares of Fosun International's ultimate parent company Fosun International Holdings as at 31 December 2014, which 79.60% stake of the publicly traded company was owned by the holding. He resigned as a non-executive director of Fosun International on 10 July 2014 and withdrew his holding in Fosun International Holdings on 4 September 2014. The number of shares of Fosun International Holdings also reduced to 45.

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. is a Chinese pharmaceutical company. It is mostly owned by Fosun International.

References

  1. 1 2 3 "Fosun International Announces 2021 Annual Results: Total Revenue Increased by 18% to RMB161.29 Billion, Striving to Pursue Steady and Sustainable Development". Yahoo! Finance. 23 March 2022.
  2. 1 2 Sundarkumar, Amruth (25 March 2022). "Fosun Reports 26% Profit Jump in 2021". BondEvalue.
  3. ↑ "Archived copy". June 2020. Archived from the original on 27 June 2020. Retrieved 20 June 2020.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ↑ "BLANK". www.fosun-international.com. Archived from the original on 24 September 2015. Retrieved 6 February 2008.
  5. ↑ Zhao, Shirley (21 February 2020). "Fosun Names Co-Chairman, Picks Two Presidents as Co-CEOs". Bloomberg. Retrieved 27 February 2020.
  6. ↑ "2020 Forbes Global 2000". Forbes. Retrieved 20 June 2020.
  7. ↑ "Fosun loses one more founding member". EJ Insight. 31 March 2017. Retrieved 10 February 2020.
  8. ↑ "Life on the go for Fosun Group CEO". Fosun. 31 May 2012. Retrieved 10 February 2020.
  9. 1 2 hermes (21 December 2015). "Fosun chairman Guo Guangchang: Farmer's son with a streak of enterprise". The Straits Times. Retrieved 10 February 2020.
  10. ↑ Flannery, Russell. "Liang Xinjun, Billionaire Co-Founder Of China Investment Firm Fosun, Departs As CEO". Forbes. Retrieved 10 February 2020.
  11. ↑ "Wang Qunbin". Forbes. Retrieved 10 February 2020.
  12. ↑ "Fan Wei". Forbes. Retrieved 10 February 2020.
  13. ↑ Taylor, Ian (19 July 2019). "Fosun: What you need to know about the Chinese conglomerate set to take a majority stake in Thomas Cook". Travel Weekly. Retrieved 10 February 2020.
  14. ↑ Bhalla, Mohit (18 April 2018). "China's Fosun emerges as the fourth contender for cash-strapped Fortis healthcare". The Economic Times. Retrieved 10 February 2020.
  15. ↑ Babar, Kailash (20 September 2019). "Fosun invests 800 crore in realty venture with Ahuja Constructions". The Economic Times. Retrieved 10 February 2020.
  16. ↑ "London Real Estate | Chinese Buyers | Fosun International". The Real Deal New York. 6 October 2018. Retrieved 10 February 2020.
  17. ↑ Equity, Private; Management, Strategic; China. "Fosun Group's Guo Guangchang: Marrying Chinese Momentum to Global Resources". Knowledge@Wharton. Retrieved 10 February 2020.
  18. ↑ Zhang, Wenxian; Alon, Ilan (2010). A Guide to the Top 100 Companies in China. World Scientific. ISBN   978-981-4291-46-0.
  19. ↑ Anderlini, Jamil (11 December 2015). "SubChina's Warren Buffett' caught up in Beijing probe". www.ft.com. Retrieved 22 January 2020.
  20. ↑ "Fosun International (SEHK:656) - Share price, News & Analysis". Simply Wall St. Retrieved 22 January 2020.
  21. ↑ "Fosun International Limited Annual Results 2011" (PDF). Media.corporate-ir.net. March 2012. Retrieved 29 January 2020.
  22. ↑ "Britain's Thomas Cook soars after China's Fosun buys stake". Reuters. 6 March 2015. Retrieved 3 February 2020.
  23. ↑ "Cirque du Soleil sells majority stake to U.S., Chinese investors". Reuters. 20 April 2015. Retrieved 3 February 2020.
  24. ↑ "Bloated but still bingeing". The Economist. ISSN   0013-0613 . Retrieved 15 June 2016.
  25. ↑ "China's Fosun joins bidding war for Portuguese hospital operator". BBC News. 23 September 2014. Retrieved 23 September 2014.
  26. ↑ China's Fosun to buy U.S. insurer to help finance acquisition spree. Reuters, 30 December 2014
  27. ↑ "Fosun Edges Out Competitor for Australia's Roc Oil". The Wall Street Journal. 4 August 2014. Retrieved 14 April 2017.
  28. ↑ Chinese tycoon Guo Guangchang reported missing., BBC News, 11 December 2015. Retrieved 11 December 2015.
  29. ↑ "Another turn of the screw". The Economist. ISSN   0013-0613 . Retrieved 30 December 2015.
  30. ↑ "Wolves qualify for Europa League after Man City win FA Cup". BBC Sport. 18 May 2019. Retrieved 19 July 2020.
  31. ↑ "Fosun Group Takes Over Wolves". Wolverhampton Wanderers. 21 July 2016.
  32. ↑ "Wolves bought by Chinese conglomerate Fosun International for £45m". BBC Sport. 21 July 2016. Retrieved 30 July 2016.
  33. ↑ Pani, Priyanka (12 October 2016). "Fosun eyes Indian start-ups with $200-m fund". The Hindu Business Line. Retrieved 24 February 2020.
  34. ↑ Gooptu, Biswarup; Ganguly, Payal (23 May 2017). "Delhivery secures $30M from Fosun International". ETtech.com. Retrieved 24 February 2020.
  35. ↑ Biswarup Gooptu; Payal Ganguly (23 May 2017). "Delhivery secures $30M from Fosun International". ET Tech. The Economic Times . Retrieved 23 May 2017.
  36. ↑ sharma, Ravi Teja (15 September 2016). "Enter the dragon: China's Fosun International plans to invest $1 billion via realty private equity platform". The Economic Times. Retrieved 24 February 2020.
  37. ↑ "Chinese poised to acquire world's oldest travel firm as Thomas Cook agrees key rescue terms". Reuters. 28 August 2019. Retrieved 28 August 2019.
  38. ↑ "Thomas Cook brand sold to Club Med owner Fosun for £11m". BBC News. 1 November 2019. Retrieved 2 November 2019. He said: "The acquisition of the Thomas Cook brand will enable the group to expand its tourism business building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism."
  39. ↑ Spencer, Mimosa (27 March 2020). "Fosun's Jewelry Unit Yuyuan to Buy Majority Stake in Djula". WWD. Retrieved 21 September 2020.
  40. ↑ Zhang, Tianwei (10 July 2020). "Fosun's Jewelry Unit Yuyuan Scores Damiani Group China License". WWD. Retrieved 21 September 2020.
  41. ↑ "Chinese conglomerate Fosun's Yuyuan to buy 30% stake in Jinhui Liquor for $262m". DealStreetAsia. Retrieved 21 September 2020.
  42. ↑ "China's Fosun Aims to Sell $11 Billion of Assets in Next Year". Bloomberg.com. 25 October 2022. Retrieved 24 February 2023.
  43. ↑ "Fosun and BioNTech launch $135m vaccine hunt for coronavirus". www.ft.com. Retrieved 20 March 2024.
  44. ↑ "Exclusive: Fosun and Germany's BioNTech to Make Vaccine in China - Caixin Global". www.caixinglobal.com. Retrieved 20 March 2024.
  45. ↑ Flannery, Russell. "Act Globally: China's Fosun International Guo Guangchang On Lessons From COVID-19 Pandemic". Forbes. Retrieved 20 March 2024.
  46. ↑ "From China to the World, Fosun's Fight against COVID-19 Continues". markets.businessinsider.com. Retrieved 20 March 2024.
  47. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 "Fosun Annual Report 2017" (PDF). Retrieved 23 April 2020.
  48. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 "2015 Annual Report" (PDF). Fosun International. Hong Kong Stock Exchange. 28 April 2016. Retrieved 19 November 2016.
  49. ↑ "Chinesa Fosun confirma compra da gestora Rio Bravo". Valor.com.br (in Portuguese). Valor Econômico. 29 July 2016. Retrieved 6 October 2016.
  50. ↑ "Banco Comercial Português, S.A. informs about increased qualified holding of Chiado, an affiliate of Fosun" (PDF) (Press release). 11 September 2017.
  51. ↑ "2016 Interim Report" (PDF). China Minsheng Bank. Hong Kong Stock Exchange. 22 September 2016. Retrieved 20 November 2016.
  52. ↑ Edwards, Joe (14 September 2019). "Fosun believed to be open to new Wolves investment". www.expressandstar.com. Retrieved 13 January 2020.
  53. 1 2 Ap, Tiffany (15 September 2022). "Lanvin Group has a lackluster pitch to luxury investors". Quartz. Retrieved 17 November 2022.
  54. ↑ 宋静丽. "Fosun furthers efforts to tap fashion market - Chinadaily.com.cn". global.chinadaily.com.cn. Retrieved 13 January 2020.
  55. ↑ Kang, Xiaoxiao (5 March 2013). "Fosun Pharma bidding $22.5 mln for U.S. Saladax". Morning Whistle. Archived from the original on 26 March 2013. Retrieved 3 April 2013.
  56. ↑ "Fosun's sale of Gland Pharma to become India's biggest pharma deal: Report". Business Standard. 13 December 2022. Retrieved 16 December 2022.
  57. ↑ "Fosun subsidiary completes acquisition of 50% stake in Caribbean insurer NAGICO Holdings". www.chinagoabroad.com. Retrieved 26 May 2019.
  58. ↑ "Insurer jumps on Fosun move - Business - Chinadaily.com.cn". www.chinadaily.com.cn. Retrieved 13 January 2020.
  59. ↑ "miacom diagnostics GmbH teams up with Fosun Diagnostics, a Diagnostic Division of Shanghai Fosun Pharmaceutical Group". Business Wire. 14 July 2014.
  60. ↑ "Chinesa Fosun fecha compra de 70% da Guide Investimentos". valor.globo.com (in Portuguese). Valor Econômico. 12 September 2017. Retrieved 9 October 2019.
  61. ↑ "China's Fosun to buyout Forte Land for $320 million". Reuters. 20 January 2011. Retrieved 27 July 2017.
  62. ↑ Young, Michael (4 June 2019). "126 Madison Avenue, aka Madison House, Tops-Out 62 Stories and 805 Feet Above NoMad". New York YIMBY. Retrieved 13 January 2020.
  63. ↑ "Fosun Acquires Sydney Office Tower for $93M". Mingtiandi. 27 January 2015. Retrieved 13 January 2020.
  64. ↑ "China's Fosun Buys Second Tokyo Office Tower in Five Months". Mingtiandi. 21 December 2014. Retrieved 13 January 2020.
  65. ↑ "Fosun joins hands with Secret Recipe of Malaysia". Fosun. 15 February 2014. Archived from the original on 4 April 2016. Retrieved 4 April 2016.
  66. ↑ "Fosun International Thinks Perfect World Is Perfect". Insider Monkey. Retrieved 13 January 2020.
  67. ↑ "£13M Investment in technology firm The Floow Limited". 6 March 2017.
  68. ↑ "China Fosun dials up tourism push with $1.74 billion Atlantis Sanya luxury resort". Reuters. 28 April 2018. Retrieved 23 April 2020.
  69. ↑ "China Huarong Asset Management Co., Ltd. issues new shares for $2.4 Billion". www.iaireview.org. Retrieved 13 January 2020.
  70. ↑ "Liberty Mutual to Acquire Ironshore from China's Fosun for $3 Billion". Insurance Journal. 5 December 2016. Retrieved 13 January 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.