Fosun International Limited
Encyclopedia
Fosun International Limited , also Fosun or Fosun International, is the largest private-owned conglomerate
in Mainland China
, headquartered in Shanghai
but incorporated
in Hong Kong
. It is also called "Shanghai's Hutchison Whampoa
" (上海和黃).
graduates from Fudan University
in 1994: Guo Guangchang
(郭广昌), Liang Xinjun (梁信军), Wang Qunbin (汪群斌) and Fan Wei
(范伟). In 1999 this company bought land and built an apartment building. Although they expected to sell one apartment a day after placing advertisements in the newspaper, they actually sold more than eight in less than two hours, even gaining foreign sales in a building that was not even complete yet. They used this revenue to buy state-run enterprises and easily cornered the market on abandoned factories. In 2000-2001 the company bought out many state-run enterprises in the Chinese mainland. They used this capital to expand into the biotech industry and created many niche businesses catering to the West. In 2004, its parent company
, Fosun International, was established in Hong Kong. Fosun International was listed in Hong Kong in 2007.
The chairman and chief executive officer
of the company is Mr. Guo Guangchang.
, property
, pharmaceutical, retailing
, financial service and strategic investments with many subsidiary
companies in each business.
Steel Business
Property Business
Pharmaceutical Business
Retailing Business
Financial service and strategic investments Business
on 16 July 2007 and it recruited 11 entrepreneurs and enterprises as its strategic investors, including:
Another entrepreneurs, such as Chinachem Group
, Bank of East Asia
and Wharf Holdings' Peter Woo
also took part in buying Fosun's IPO stocks.
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
in Mainland China
Mainland China
Mainland China, the Chinese mainland or simply the mainland, is a geopolitical term that refers to the area under the jurisdiction of the People's Republic of China . According to the Taipei-based Mainland Affairs Council, the term excludes the PRC Special Administrative Regions of Hong Kong and...
, headquartered in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
but incorporated
Incorporation (business)
Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...
in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
. It is also called "Shanghai's Hutchison Whampoa
Hutchison Whampoa
Hutchison Whampoa Limited or HWL of Hong Kong is a Fortune 500 company and one of the largest companies listed on the Hong Kong Stock Exchange. HWL is an international corporation with a diverse array of holdings which includes the world's biggest port and telecommunication operations in 14...
" (上海和黃).
History
Fosun Group was founded by four universityUniversity
A university is an institution of higher education and research, which grants academic degrees in a variety of subjects. A university is an organisation that provides both undergraduate education and postgraduate education...
graduates from Fudan University
Fudan University
Fudan University , located in Shanghai, is one of the oldest and most selective universities in China, and is a member of the C9 League. Its institutional predecessor was founded in 1905, shortly before the end of China's imperial Qing dynasty...
in 1994: Guo Guangchang
Guo Guangchang
Guo Guangchang , is a Chinese entrepreneur. He is the chairman of Fosun International Limited and the representative of 10th National People's Congress. Guo is currently one of the wealthiest men in Mainland China...
(郭广昌), Liang Xinjun (梁信军), Wang Qunbin (汪群斌) and Fan Wei
Fan Wei
Fan Wei , born September 2, 1962 in Shenyang, Liaoning, China, is a Chinese skit and sitcom actor and film actor, best known for his performances with Zhao Benshan in CCTV New Year’s Galas since 1995. In recent years, he has been featured in such films as Cell Phone, A World Without Thieves, If...
(范伟). In 1999 this company bought land and built an apartment building. Although they expected to sell one apartment a day after placing advertisements in the newspaper, they actually sold more than eight in less than two hours, even gaining foreign sales in a building that was not even complete yet. They used this revenue to buy state-run enterprises and easily cornered the market on abandoned factories. In 2000-2001 the company bought out many state-run enterprises in the Chinese mainland. They used this capital to expand into the biotech industry and created many niche businesses catering to the West. In 2004, its parent company
Parent company
A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company...
, Fosun International, was established in Hong Kong. Fosun International was listed in Hong Kong in 2007.
The chairman and chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the company is Mr. Guo Guangchang.
Businesses
Fosun's businesses cover steelSteel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
, property
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
, pharmaceutical, retailing
Retailing
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
, financial service and strategic investments with many subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
companies in each business.
Steel Business
- Nanjing Steel United
- Jianlong Group
- Ningbo Iron and Steel Company
- Hainan Mining United
Property Business
- Forte Land
Pharmaceutical Business
- Fosun Pharmaceutical
- Sinopharm Medicine Holding
Retailing Business
- Yuyuan Tourist MartYuyuan Tourist MartShanghai Yuyuan Tourist Mart Company Limited, or Yuyuan Tourist Mart, is the largest retailing conglomerate in China.The company has presence in a variety of business sectors such as department stores and entertainment shops in Yuyuan Garden, Shanghai, the sales of gold, jade and other jewelry,...
Financial service and strategic investments Business
- Tebon Securities
- Zhaojin MiningZhaojin MiningZhaojin Mining Industry Company Limited is an gold mining enterprise jointly ventured by Zhaojin Group and Fosun Group. It is the largest gold producer in Shandong province, and it is headquartered in Zhaoyuan, Shandong, China....
Listed in Hong Kong
Fosun was listed on the Hong Kong Stock ExchangeHong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
on 16 July 2007 and it recruited 11 entrepreneurs and enterprises as its strategic investors, including:
- Cheung Kong Holdings's Li Ka ShingLi Ka ShingSir Ka-shing Li, GBM, KBE, JP is a Chinese business magnate based in Hong Kong. He is the richest person of East Asian descent in the world and the eleventh richest person in the world with an estimated wealth of US$26.0 billion on 10 March 2011...
- Henderson Land's Lee Shau KeeLee Shau KeeLee Shau-kee GBM is a property developer and majority owner of Henderson Land Development , a property conglomerate with interests in properties, hotels, restaurants and internet services...
- Sun Hung Kai Properties's Kwok's Brothers
- Chinese Estates GroupChinese Estates GroupChinese Estates Group is a real estate development group based in Hong Kong. The group comprises three Hong Kong publicly listed companies : Chinese Estates Holdings Limited , Chi Cheung Investment Company, Limited and G-Prop Limited .Historically, Chinese Estates Group has been focused on the...
's Joseph LauJoseph LauJoseph Lau Luen Hung is a billionaire Hong Kong real estate investor who owns a 61% stake in Chinese Estates Holdings. His fortune is estimated by Forbes at $4.3 billion.-Wealth:... - Dickson PoonDickson PoonDickson Poon, SBS is a Hong Kong businessman in the luxury goods retailing sector. Poon is the executive chairman of his Hong Kong listed vehicle Dickson Concepts , which owns companies including Harvey Nichols and S. T. Dupont...
's Family - Kerry Holdings' Robert KuokRobert KuokRobert Kuok Hock Nien , is an influential Malaysian Chinese businessman. According to Forbes his net worth is estimated to be around $12.5 billion on May 2011, making him the richest person in Malaysia and Southeast Asia....
- Pacific Insurance
- China Life Insurance
- American International GroupAmerican International GroupAmerican International Group, Inc. or AIG is an American multinational insurance corporation. Its corporate headquarters is located in the American International Building in New York City. The British headquarters office is on Fenchurch Street in London, continental Europe operations are based in...
(AIG) - Government of Singapore Investment CorporationGovernment of Singapore Investment CorporationThe Government of Singapore Investment Corporation Private Limited is a sovereign wealth fund established by the Government of Singapore in 1981 to manage Singapore's foreign reserves...
(GIC) - First State Investments
Another entrepreneurs, such as Chinachem Group
Chinachem Group
Chinachem Group is a company that was established before 1974 in Hong Kong by Teddy Wang. After Wang's kidnapping and disappearance in 1990, his wife Nina Wang took over the company as "Chairlady" and built it into a major property developer, making her the richest woman in Asia. The Chinachem...
, Bank of East Asia
Bank of East Asia
The Bank of East Asia Limited often abbreviated to BEA, is the largest independent local bank and the third largest bank in Hong Kong. Its chairman and chief executive is Sir David Li...
and Wharf Holdings' Peter Woo
Peter Woo
Peter Woo Kwong Ching GBS, JP MBA is Chairman of Wheelock and Company Limited and The Wharf Holdings Limited.-Education and career:...
also took part in buying Fosun's IPO stocks.