Fosun

For the village in Iran, see Fosun, Iran.
Fosun International
复星国际
Privately held company
Industry Conglomerate
Founded 1992
Founder Guo Guangchang
Headquarters Shanghai, China
Key people
 Chairman: Guo Guangchang
CEO: Liang Xinjun
President: Wang Qunbin
Services Diversified Investments
Slogan 汇聚成长力量 (Gathering strength)
Website www.fosun.com

Fosun International Limited (simplified Chinese: 复星国际有限公司; traditional Chinese: 復星國際有限公司) is an international conglomerate and investment company.[1] Founded in 1992, the company is headquartered in Shanghai and was incorporated in Hong Kong in 2007.

History

Fosun Group was founded in 1992 by five graduates of Fudan University: Guo Guangchang, Liang Xinjun, Wang Qunbin (汪群斌), Fan Wei (范伟), and Tan Jian (谈剑).[2]

In the 1990s, Fosun started its business by doing market research. Then Fosun extended its business into the healthcare industry, real estate, etc.[2] In July 2007, Fosun International (00656.HK), the parent company of Fosun Group, was listed on the main board of the Hong Kong Stock Exchange.[2]

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".

Since 2010, Fosun has spent billions buying foreign firms and says it is looking at healthcare, tourism, fashion firms and banks in the US and Europe. It already owns Western brands ranging from the American clothing label St John to Greek jeweler Folli Follie.[3]

At the end of 2014 it was announced, that Fosun would be acquiring the US insurer Meadowbrook for around $433 million, marking the first full purchase of a US insurer by a Chinese company.[4]

On 11 December 2015, it was reported that the chairman of Fosun, the billionaire Guo Guangchang has disappeared, and it is speculated that he was 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 in a Hong Kong-listed subsidiary be temporarily suspended.[5] 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.[6]

Businesses

Fosun's businesses cover industrial operations, investment, asset management, and insurance with many subsidiary companies in each business.

Industrial operations:

Investment:

Asset management:

Insurance:

Real estate:

Private hospitals:

Awards

In July 2011, Fosun ranked No. 81 among Fortune (China)'s top 500 enterprises of China. In December 2011, Fosun was awarded "2011 Top Chinese Non-state owned Enterprises of CSR" by Southern Weekend. In April 2012, Fosun was no. 1136 in Forbes Global Top 2000 enterprises.

References

  1. ↑ Fosun International Limited Background
  2. 1 2 3 "Fosun Story - Profile, CEO, Founder, History | Business Companies | SuccessStory". successstory.com. Retrieved 2016-03-17.
  3. ↑ "China's Fosun joins bidding war for Portuguese hospital operator". BBC News. 23 September 2014. Retrieved 23 September 2014.
  4. ↑ China's Fosun to buy U.S. insurer to help finance acquisition spree. Reuters, 30 December 2014
  5. ↑ Chinese tycoon Guo Guangchang reported missing. BBC News, 11 December 2015. Retrieved 11 December 2015.
  6. ↑ "Another turn of the screw". The Economist. ISSN 0013-0613. Retrieved 2015-12-30.
  7. ↑ Kang, Xiaoxiao (5 March 2013). "Fosun Pharma bidding $22.5 mln for U.S. Saladax". Morning Whistle. Retrieved 3 April 2013.
  8. ↑ Chinese Firm Is Behind a Group Bidding for Club Med
  9. ↑ "Fosun joins hands with Secret Recipe of Malaysia". Fosun. 15 February 2014. Archived from the original on 4 April 2016. Retrieved 4 April 2016.

External links

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