Everything you need to know about Fosun International
WE bring to you every thing you need to know about Fosun International, Like Fosun International net worth, Fosun International Businesses etc.
Meanwhile, few weeks ago, Thomas Cook has affirmed the conditions of a £900m salvage bargain that will give the Chinese combination Fosun control of its vacation business – however cautioned its offers might be pulled from the London financial exchange.
About Fosun International
Fosun International Limited is a Chinese international conglomerate and investment company. Founded in 1992 by Guo Guangchang and four others, the company is headquartered in Shanghai and was incorporated in Hong Kong in 2004.
Its CEO is Wang Qunbin, who replaced Liang Xinjun who resigned in March 2017. Guo Guangchang remains as the chairman of Fosun International. The company is located in 16 countries and ranked 416th on the Forbes Global 2000 ranking.
Fosun International Limited is a Hong Kong-based investment holding company engaged in financial, property, steel and healthcare businesses. The Company has nine segments.
Insurance operates and invests in insurance businesses. Investment is engaged in strategic investment, private equity investment, venture capital investment and secondary market investment. Wealth Management is engaged in asset management and banking and other financial businesses.
Internet Finance is engaged in Internet finance businesses. Health researches and develops, manufactures, sells and trades pharmaceutical and medical products, and provides healthcare services. Happiness operates and invests in the wholesales and retailing of gold and jewelry, as well as tourism and entertainment industries.
Steel manufactures, sells and trades iron and steel products. Property Development and Sales develops and sells properties. Resources mines and processes metal ores and explores oil and gas.
Fosun International History
Fosun Group was founded in 1992 by five graduates of Fudan University: Guo Guangchang, Liang Xinjun, Wang Qunbin (Chinese: 汪群斌), Fan Wei (Chinese: 范伟), and Tan Jian (Chinese: 谈剑). The major holding company of the group, Fosun High Technology was incorporated in 1994 in the mainland China.
In the 1990s, Fosun started its business by doing market research. Then Fosun extended its business into the healthcare industry, real estate, etc. In 2004, a new holding company of the group, Fosun International Limited was incorporated in Hong Kong. In July 2007, Fosun International was listed on the main board of the Stock Exchange of Hong Kong as SEHK:656.
During 2011, the three major growth engines of Fosun, industrial profits, investment profits and asset management profits rose rapidly, enabling Fosun to make strides toward its vision of becoming “a premium investment group with a focus on China’s growth momentum”.
From 2010 through 2015, Fosun spent billions buying foreign firms in the healthcare, tourism, fashion, and banking industries in the US and Europe. These included France’s Club Med, Britain’s Thomas Cook Group, Canada’s Cirque du Soleil, American clothing label St John, and Greek jeweler Folli Follie. At the end of 2014 Fosun acquired the US insurer Meadowbrook for around $433 million, marking the first full purchase of a US insurer by a Chinese company. Fosun also purchased Australian oil company Roc Oil, its first acquisition in the petroleum industry.
On 11 December 2015, it was reported that the chairman of Fosun, the billionaire Guo Guangchang, had disappeared, and it was speculated that he had been questioned by government authorities in an inquiry stemming from Party General Secretary Xi Jinping’s anti-corruption efforts. Guo however reappeared on 14 December 2015 at a Fosun board of directors meeting. During his disappearance, Fosun requested that trading of shares be temporarily suspended. The Fosun board of directors issued a statement saying that Guo was assisting in a government inquiry which, in their opinion, did not present a “material adverse impact” on Fosun’s finances or operations.
On 21 July 2016, it was confirmed that Fosun had bought the English football club Wolverhampton Wanderers from its previous owner Steve Morgan for an estimated £45 million.
Fosun has invested in India & is having considerable exposure in India. “Delhivery” is one such investment apart from investment in pharmaceutical company. Fosun is also going to enter Indian Real Estate Market.
On 28 August 2019, Thomas Cook Group announced that the group “had agreed the main terms of a rescue package that will see Hong Kong’s Fosun Tourism take over its tour operations and creditor banks and bondholders acquire its airline.
Fosun International Businesses
Fosun’s businesses cover industrial operations, investment, asset management, and insurance with many subsidiary companies in each business.
Fosun Pharmaceutical (40.02%)
Hainan Mining (54.0%)
Fosun High Technology (100%)
Fosun Finance (86%)
Fosun Hani Securities (100%)
St John, an American fashion brand that specializes in women’s knitwear
IDERA (in Japan)
Resolution Property (in UK)
Fosun Eurasia Capital (in Russia)
Rio Bravo Investmentos (in Brazil)
Peak Reinsurance (85.1%)
NAGICO (through Peak Reinsurance)
Shanghai Forte Land (99.15%)
Fosun Property Holdings (100%)
126 Madison Avenue (New York)
28 Liberty Street (New York
Citigroup Center (Tokyo)
73 Miller Street (Sydney)
Lloyds Chambers (London)
a project in Donggang [zh] (Dalian) (64%)
Club Med (85.6%)
Studio 8 (60%)
Wolverhampton Wanderers F.C.
Private equity funds managed
Fosun RZ Capital
Ji’nan Financial Development Investment Fund
Pramerica-Fosun China Opportunity Fund
Shanghai Sunvision Binhe Equity Investment Center
Shanghai Sunvision Xicheng Equity Investment Center
Star Capital (Shanghai Star Equity Investment L.P.)
Zhejiang Growth Fund
Nanjing Nangang Iron and Steel United (60% share capital, 50% voting rights)
Nanjing Iron and Steel Company (SSE: 600282, 48.19%)
Pramerica–Fosun Life Insurance (50%)
Banco Comercial Português (27.06%)
China Minsheng Bank (2.22%)
China Financial Services Holdings (SEHK: 605, 4.9%)
The Floow Limited (15%)
Cirque du Soleil (25% via private equity funds managed by Fosun International and associated company Yuyuan Tourist Mart)
Focus Media (8.09%)
Folli Follie (10%, additional 3.89% stake held by Pramerica-Fosun China Opportunity Fund)
New China Life Insurance (3.28%)
Shanghai Zendai Property (14.0%)
Thomas Cook Group (5.76% via Fidelidade)
Yong’an Property Insurance (19.9%)
Yuyuan Tourist Mart (26.45%)
Zhaojin Mining (3.57%)
Former portfolio companies
China Huarong Asset Management
The major shareholder of Fosun International was a Hong Kong incorporated company Fosun Holdings, 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. Fan Wei, another founder, withdrew his stake in Fosun International Holdings in September 2015.
Fosun International net worth
Guo Guangchang (simplified Chinese traditional Chinese, born February 1967) is a Chinese billionaire businessman. He is the chairman of Fosun International Limited, and a representative of the 12th Chinese People’s Political Consultative Conference.
According to Hurun Report’s 2013 China Rich List he was the 41st richest person in China. As of 2015 he was listed as the 34th richest person in China by Forbes, with a net worth of $7.3 billion.
The company is located in 16 countries and ranked 416th on the Forbes Global 2000 ranking.
Fosun International LOCATION
- Fosun International Ltd
No.2, Fuxing East Road
- WEBSITE http://www.fosun.com