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Fosun

#2761

Rank

$4.79B

Marketcap

CN China

Country

Fosun
Leadership team

Mr. Qunbin Wang (Exec. Co-Chairman)

Mr. Qiyu Chen (Co-CEO & Exec. Director)

Mr. Guangchang Guo (Exec. Chairman)

Products/ Services
Angel Investment, Stock Exchanges, Venture Capital
Number of Employees
Above 50,000
Headquarters
Shanghai, Shanghai, China
Established
1992
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
0656.HK
Social Media
Overview
Location
Summary
Fosun International Limited operates in health, happiness, wealth, and intelligent manufacturing sectors in Mainland China, Portugal, and internationally. It operates in five segments: Health, Happiness, Insurance, Asset Management, and Intelligent Manufacturing. The Health segment engages in the research, development, manufacture, sale, and trading of pharmaceutical, biopharmaceutical, and health products; and provision of medical and health management services. The Happiness segment operates and invests in tourism and leisure, fashion consumer, and lifestyle industries. The Insurance segment operates and invests in the insurance markets. The Asset Management segment engages in the asset management and market investments activities. The Intelligent Manufacturing segment operates and invests in the intelligent manufacturing business; and produces iron and steel ore. It is also involved in the capital investment and management, property development, retail, and reinsurance business; manufacture and sale of iron and steel products; provision of banking and financial, and medical consultation services, as well as digital solutions. The company was founded in 1992 and is based in Shanghai, China. Fosun International Limited is a subsidiary of Fosun Holdings Limited.
History

1990s

Fosun Group was founded in 1992 as the Guangxin Technology Development Company by five graduates of Fudan University in Shanghai: Guo Guangchang, Liang Xinjun, Wang Qunbin , Fan Wei , and Tan Jian . Fosun started its business by doing market research. The major holding company of the group, Fosun High Technology, was incorporated in 1994 in mainland China. Then Fosun extended its business into the healthcare industry , real estate, and steel etc.

2000s

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.

2010s

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, the chairman of Fosun, Guo Guangchang, was reported missing. 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. Under Fosun's ownership, Wolves have progressed from being a mid table side in the Football League Championship to finishing seventh in the FA Premier League, reaching an FA Cup semi-final and qualifying for the UEFA Europa League.In 2016 Fosun began to invest in India. “Delhivery” was one such investment made in 2017, in addition to previous investments in MakeMyTrip, India's largest online travel company and Gland Pharma. Fosun is also involved in the 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"In early November 2019, Fosun said it would purchase the Thomas Cook brand for £11m. The company viewed itself as a "potential saviour" by purchasing the name.

2020s

In March 2020, the company acquired a 55.4% equity interest in French jewelry brand Djula. They also signed an agreement in July 2020 with a high-end Italian jewelry group to develop the Damiani and Salvini brands in China. In August 2020 the company bought a 30% stake in Jinhui Liquor for $262 million.

Mission
The mission of Fosun is to create long-term value for customers and society, by understanding their needs and providing premium services, products, and advice.
Vision
Fosun seeks to become an innovative, international and world-class multinational group.
Key Team

Mr. Xiaoliang Xu (Co-CEO & Exec. Director)

Mr. Ping Gong (Sr. VP, CFO & Exec. Director)

Mr. Xuetang Qin (Sr. VP & Exec. Director)

Mr. Shunjiang Qian (Co-Chief Financial Officer)

Mr. Bin Tang (Chief Investment Officer)

Fan Ruohan (Sr. Assistant to the Pres & CTO)

Mr. Houlin Zhang (Sr. VP & Co-Chief Financial Officer)

Recognition and Awards
Fosun has been awarded numerous awards, including Forbes Asia's Fab 50 in 2016, Forbes Asia's Fab 50 in 2017, and the Global Brand Award from Thinkers50 in 2017.
References
Fosun
Leadership team

Mr. Qunbin Wang (Exec. Co-Chairman)

Mr. Qiyu Chen (Co-CEO & Exec. Director)

Mr. Guangchang Guo (Exec. Chairman)

Products/ Services
Angel Investment, Stock Exchanges, Venture Capital
Number of Employees
Above 50,000
Headquarters
Shanghai, Shanghai, China
Established
1992
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
0656.HK
Social Media