Fosun International Limited is a Chinese multinational conglomerate

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

. Founded in 1992 by

Guo Guangchang Guo Guangchang (, born February 1967) 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. As of July 2024, ...

and four others, the company is headquartered in

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

and was incorporated in

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

in 2004. Its Co-CEOs are Chen Qiyu and Xu Xiaoliang.

Wang Qunbin Wang Qunbin (; born 1969) is a Chinese billionaire businessman. He was appointed co-chairman of Fosun International in February 2020, and was CEO of Fosun from March 2017 to February 2020, when he replaced Liang Xinjun. He earned a bachelor's ...

joined Guo Guangchang as co-chairman in early 2020. The company is located in over 35 countries and is one of the largest privately owned conglomerates in China. It was ranked 371st on the

Forbes Global 2000 The ''Forbes'' Global 2000 is an annual ranking of the top 2000 public companies in the world, published by: sales, profit, assets and market value. The list has been published annually since 2003. By country Forbes Global 2000 as of 2023: ...

ranking in 2020.

History

1990s

Fosun Group was founded in 1992 as the Guangxin Technology Development Company by five graduates of

Fudan University Fudan University (FDU) is a public university, national public university in Yangpu, Shanghai, Yangpu, Shanghai, China. It is affiliated with the Ministry of Education (China), Ministry of Education and is co-funded with the Shanghai Municipal ...

in Shanghai:

Liang Xinjun Liang Xinjun () is a Chinese entrepreneur. He is the co-founder and former vice chairman/CEO of Fosun International, one of the largest civilian-run enterprises in China. Biography Liang was born in 1968 in Taizhou, Zhejiang. He received his B. ...

(), 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 (as

Fosun Pharmaceutical Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (trade name: Fosun Pharma) is a Chinese pharmaceutical company. It is mostly owned by Fosun International. the A shares of the company is a constituent of SSE 180 Index as well as its sub-index ...

), 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 Club Med SAS, commonly known as Club Med and previously known as Club Méditerranée SA, is a French travel and tourism operator headquartered in Paris, specializing in all-inclusive holidays. Founded in 1950, the company has been primarily ow ...

, Britain's

Thomas Cook Group Thomas Cook Group plc was a global travel group, headquartered in the United Kingdom and listed on the London Stock Exchange from its formation on 19 June 2007 by the merger of Thomas Cook AG — successor to Thomas Cook & Son — and ...

, Canada's

Cirque du Soleil Cirque du Soleil (, ; ) is a Canadian entertainment company and the largest contemporary circus producer in the world. Located in the inner-city area of Saint-Michel, Montreal, Saint-Michel, Montreal, it was founded in Baie-Saint-Paul on 16 Jun ...

, American clothing label

St John Saint John or St. John usually refers to either John the Baptist or John the Apostle. Saint John or St. John may also refer to: People Saints * John the Baptist ( – ), preacher, ascetic, and baptizer of Jesus Christ * John the Evangelis ...

, and Greek jeweler

Folli Follie Folli Follie is a Greek-based international company which designs, manufactures and distributes luxury jewellery, watches and fashion accessories. History The company was established in 1982 in Greece by Dimitris Koutsolioutsos (). The first sh ...

. 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,

, 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. In July 2016, Fosun bought the English football club

Wolverhampton Wanderers Wolverhampton Wanderers Football Club ( ), commonly referred to as Wolves, is a professional association football, football club based in Wolverhampton, England. The club competes in the Premier League, the top tier of English football league s ...

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 The English Football League Championship, known simply as the Championship and for sponsorship purposes as Sky Betting & Gaming, Sky Bet Championship, is a professional association football league in England and Wales. Contested by 24 clubs, i ...

(second tier of English football) to finishing seventh in the

FA Premier League The Premier League is a professional association football league in England and the highest level of the English football league system. Contested by 20 clubs, it operates on a system of promotion and relegation with the English Football ...

, reaching an

FA Cup The Football Association Challenge Cup, more commonly known as the FA Cup, is an annual Single-elimination tournament, knockout association football, football competition in domestic Football in England, English football. First played during ...

semi-final and qualifying for the

UEFA Europa League The UEFA Europa League (UEL), usually known simply as the Europa League, is an annual association football, football club competition organised since 1971 by the UEFA, Union of European Football Associations (UEFA) for eligible European footb ...

. In 2016 Fosun began to invest in India.

Delhivery Delhivery is an Indian logistics and supply chain company, based in Gurgaon. It was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. History Delhivery was established in May 2011 as SSN Logis ...

was one such investment made in 2017, in addition to previous investments in

MakeMyTrip MakeMyTrip Limited is an Indian online travel company, headquartered in Gurgaon. Founded in 2000, the company provides online travel services including airline tickets, domestic and international holiday packages, hotel reservations, rail and ...

, India's largest online travel company and Gland Pharma. Fosun is also involved in the Indian real estate market. On 28 August 2019,

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 Damiani is a surname, of Italian origin. Notable people with the surname include: *Victor Damiani (born 1970), American bassist * Chip Damiani (1945–2014), American drummer * Damiano Damiani (1922–2013), Italian screenwriter and film director ...

and Salvini brands in China. In August 2020, the company bought a 30% stake in Jinhui Liquor for $262 million. In 2022, after has been severely hit by the effects of the COVID-19 pandemic and China's extreme lockdown policies, the Shanghai-based conglomerate divested many of its key assets to avoid defaulting on its short-term debts. By October 2022, Fosun announced that it would sell as much as $11 billion of assets within the next 12 months, amid efforts to bolster both its balance sheet and investor confidence.

Response to COVID-19 pandemic

During the coronavirus pandemic of 2020, Fosun Pharmaceuticals partnered with German biotech firm Biopharmaceutical New Technologies (

BioNTech BioNTech SE ( ; or short for Biopharmaceutical New Technologies) is a German multinational biotechnology company headquartered in Mainz that develops immunotherapies and vaccines, particularly for cancer and infectious diseases. The compan ...

) to produce and distribute the

COVID-19 Coronavirus disease 2019 (COVID-19) is a contagious disease caused by the coronavirus SARS-CoV-2. In January 2020, the disease spread worldwide, resulting in the COVID-19 pandemic. The symptoms of COVID‑19 can vary but often include fever ...

mRNA vaccine An mRNA vaccine is a type of vaccine that uses a copy of a molecule called messenger RNA (mRNA) to produce an immune response. The vaccine delivers molecules of antigen-encoding mRNA into cells, which use the designed mRNA as a blueprint to b ...

BNT162b2. The company also donated medical supplies to several countries during the COVID-19 pandemic.

Business structure

Fosun has a wide array of business activities, including investing in other firms, managing a number of

private equity fund A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity. ...

s, and entering

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

Equity investments

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

Asset management

*IDERA Capital. Management (98.00%) *China Financial Services Holdings (, 4.9%) * Fosun Eurasia Capital (in Russia) * Hauck & Aufhäuser (99.91%) *Resolution Property (in UK) *Rio Bravo Investmentos (in Brazil)

Banking

Banco Comercial Português Banco Comercial Português (BCP, ) is a Portuguese bank that was founded in 1985 and is the largest private bank in the country. BCP is a member of the Euronext 100 stock index and its current chief executive officer is Miguel Maya Dias Pinheiro ...

(27.06%) *

China Minsheng Bank China Minsheng Bank () is a significant Chinese bank, founded in 1996 by lawyer and businessman Jing Shuping. It was the first bank to be established with an ownership base of private sector shareholders, as part of Chinese economic reform led ...

(2.22%) * Mybank (25.00%)

Entertainment

(25% via private equity funds managed by Fosun International and associated company Yuyuan Tourist Mart) * Studio 8 (60%) *

Wolverhampton Wanderers F.C. Wolverhampton Wanderers Football Club ( ), commonly referred to as Wolves, is a professional football club based in Wolverhampton Wolverhampton ( ) is a city and metropolitan borough in the West Midlands (county), West Midlands of England. ...

Fashion

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

Ahava Ahava Dead Sea Laboratories, Limited (, ''Love'') is an Israeli cosmetics company with headquarters in Lod that manufactures skin care products made of mud and mineral-based compounds from the Dead Sea. The company has flagship stores in Isr ...

(99.46%) * Caruso (73.90%) *

(10%, additional 3.89% stake held by Pramerica-Fosun China Opportunity Fund) * Lanvin * Silver Cross (87.23%) *

Sergio Rossi Sergio Rossi is an Italian fashion brand that focuses on footwear. The company was founded in 1951 by Sergio Rossi. History Founded in 1951 in San Mauro Pascoli, the brand takes its name from founder Sergio Rossi, who inherited the tools ...

(70.00%) *

Tom Tailor Tom Tailor (TT) is a German vertically integrated lifestyle fashion company headquartered in Hamburg. The range includes clothing and accessories for men and women of all ages in the middle to upper price segment. In 2024, the company had 577 re ...

(28.89%) *

Wolford Wolford, headquartered in Bregenz on Lake Constance in Austria, is a textile manufacturer of tights, bodysuits and underwear, as well as women's clothing and accessories. Wolford has 16 subsidiaries and markets its products in approx. 60 co ...

Food and drink

* Jinhui Liquor * Sanyuan Foods (20.45%) * St Hubert (98.12%) *

Tsingtao Brewery Tsingtao Brewery Co. Ltd. () is China's second largest brewery, with about 15% of domestic market share and accounts for half of China's national beer exports. The brewery was founded in 1903 as an Anglo–German business with the brewery under ...

(17.99%)

Industrial operations

Cainiao Cainiao Smart Logistics Network Limited ( zh, s=菜鸟网络科技有限公司), formerly known as China Smart Logistics Network, is a Chinese logistics company launched by Alibaba Group, jointly with eight other companies, on 28 May 2013. On Ma ...

(6.77%) *

(6.5%) *

(37.94%) * Gland Pharma (57.86%) * Hainan Mining (51.57%) * Fosun High Technology (100%) * Roc Oil (100%) *

Sinopharm Group Sinopharm Group Co., Ltd. is a Chinese pharmaceutical company. The parent company of Sinopharm Group was Sinopharm Industrial Investment, a 51–49 joint venture of state-owned enterprise China National Pharmaceutical Group and civilian-run en ...

* Sisram Medical *

Zhaojin Mining Zhaojin Mining Industry Company Limited () is a leading gold mining enterprise in China, primarily engaged in gold exploration, mining, processing, refining, and related smelting activities. The company is a joint venture between Zhaojin Group an ...

(3.57%)

Insurance

Ameritrust Group KeyBank is an American regional bank headquartered in Cleveland, Ohio, and the 27th List of largest banks in the United States, largest bank in the United States. Organized under the publicly traded KeyCorp, KeyBank was formed from the 1994 me ...

(100%) * Fidelidade (84.99%) * Fosun United Health Insurance (20.00%) *NAGICO Insurances (through Peak Reinsurance) * Peak Reinsurance (86.93%) * Pramerica Fosun Life Insurance (50.00%) *

New China Life Insurance New China Life Insurance Co., Ltd. also known as New China Insurance (NCI) or Xinhua Baoxian Jituan () is a Chinese life insurance company based in Beijing. The Chinese government owns more than half of the shares of the company via sovereign fu ...

(3.28%) * United Family Healthcare * Yong'an P&C Insurance (40.68%)

Investment

* Fosun Finance (86%) * Fosun Hani Securities (100%) * Miacom Diagnostics *

Guide Investimentos A guide is a person who leads travelers, sportspeople, or tourists through unknown or unfamiliar locations. The term can also be applied to a person who leads others to more abstract goals such as knowledge or wisdom. Travel and recreation Expl ...

(in Brazil)

Media

Focus Media Focus Media Information Technology, formerly Focus Media Holding, is a Chinese company which operates out-of-home advertising in China which consist predominantly of digital signage screens and claims to own the country's largest Internet adver ...

(5.00%)

Private hospitals

* Chancheng Hospital * Luz Saúde (98.79%) * Starcastle Senior Living (50.00%)

Real estate

* Shanghai Forte Land (100%) * Shanghai Zendai Property (14.0%) * Fosun Property Holdings (100%) ** 126 Madison Avenue (New York) **

28 Liberty Street 28 Liberty Street, formerly known as One Chase Manhattan Plaza, is a 60-story International Style skyscraper between Nassau, Liberty, William, and Pine Streets in the Financial District of Manhattan in New York City. The building, designed by ...

(New York) ** 73 Miller Street (Sydney) ** a project in (Dalian) (64%) **Citigroup Center (Tokyo) ** Lloyds Chambers (London) ** The Bund Finance Center (50.00%)

Retail

* Secret Recipe *

Yuyuan Tourist Mart Shanghai Yuyuan Tourist Mart Co., Ltd. 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, ja ...

(26.45%)

Technology

iFlytek iFlytek (), styled as iFLYTEK, is a partially state-owned Chinese information technology company established in 1999. It creates voice recognition software and 10+ voice-based internet/mobile products covering education, communication, music, i ...

(strategic minority stake) * Perfect World * The Floow Limited (15%) * WeDoctor

Tourism

Atlantis Sanya Atlantis Sanya is an ocean-themed luxury hotel resort in Sanya, China. History Sol Kerzner, Kerzner International Resorts opened Atlantis Sanya on April 28, 2018 after nearly four years of construction. It became the third resort they opened a ...

(99.81%) *

(90.10%) *

(1%) *

Thomas Cook Holidays Thomas Cook Tourism (UK) Company Limited, known as Thomas Cook UK, is a British package holiday provider which offers 'Flight + Hotel' packages and Hotel only bookings. The company was launched in 2019, when Chinese firm Fosun International purc ...

Fosun-managed private equity funds

* Carlyle-Fosun * Fosun Capital * Fosun RZ Capital * Fosun Chuanghong * 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.) * Weishi Fund * Zhejiang Growth Fund

Joint ventures

* Nanjing Nangang Iron and Steel United (60% share capital, 50% voting rights) ** Besino Environment (100%) **Koller (84.50%) ** Nanjing Iron and Steel Company (, 48.19%) * Pramerica–Fosun Life Insurance (50%)

Former equity investments

China Huarong Asset Management China CITIC Financial Asset Management (previously known as China Huarong) is a majority state-owned financial asset management company in China, with a focus on distressed debt management. It was one of the four asset management companies that ...

Ironshore Ironshore Inc. provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its platforms in Australia, Bermuda, Canada, Ireland, Singapore, the United States and the United Kingdom. On D ...

Thomas Cook Group Plc Thomas Cook Group plc was a global travel group, headquartered in the United Kingdom and listed on the London Stock Exchange from its formation on 19 June 2007 by the merger of Thomas Cook AG — successor to Thomas Cook & Son — a ...

(5.76% via Fidelidade) - Entered Compulsory Liquidation 23 September 2019

Shareholders

The major shareholder of Fosun International was a Hong Kong incorporated company Fosun Holdings, which was a wholly owned subsidiary of

British Virgin Islands The British Virgin Islands (BVI), officially the Virgin Islands, are a British Overseas Territories, British Overseas Territory in the Caribbean, to the east of Puerto Rico and the United States Virgin Islands, US Virgin Islands and north-west ...

incorporated company Fosun International Holdings. Three founders of Fosun International,

and

, 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.

References

External links

* {{official website, https://en.fosun.com/ Companies listed on the Hong Kong Stock Exchange Conglomerate companies of China Civilian-run enterprises of China Companies based in Shanghai Chinese brands Chinese companies established in 1992 Conglomerate companies established in 1992 1992 establishments in Shanghai