Fosun
 | |
| Privately held company | |
| Industry | Conglomerate |
| Founded | 1992 |
| Founder | Guo Guangchang |
| Headquarters | Shanghai, China |
Key people |
Chairman: Guo Guangchang CEO: Liang Xinjun President: Wang Qunbin |
| Slogan | 汇聚成长力量 (Gathering strength) |
| Website |
www |
Fosun International Limited (simplified Chinese: 复星国际有限公司; traditional Chinese: 復星國際有限公司) is the largest private-owned conglomerate in Mainland China.[1] Founded in 1992 in Shanghai, the company is headquartered in Shanghai and was incorporated in Hong Kong in 2007.
History
Fosun Group was founded in 1992 by four graduates of Fudan University: Guo Guangchang, Liang Xinjun, Wang Qunbin (汪群斌), Fan Wei (范伟), and Tan Jian (谈剑).
In the 1990s, Fosun started its business by doing market research. Then Fosun extended its business into the healthcare industry, real estate, etc. 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.
During 2011, the three major growth engines of Fosun, namely 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 up foreign firms and says it is eyeing healthcare, tourism, fashion firms and banks in the US and Europe. It already owns a stable of Western brands ranging from the American clothing label St John to Greek luxury jeweller Folli Follie.[2]
In March 2014 Fosun acquired 19.18% of the German private bank BHF-Bank.[3] At the end of 2014 in 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]
Businesses
Fosun's businesses cover industrial operations, investment, asset management, and insurance with many subsidiary companies in each business.
Industrial Operations:
- Nanjing Iron and Steel
- Fosun Pharmaceutical, which owns Shanghai Fosun Long March Medical Science Company, Ltd.,[5]
- Forte
- Hainan Mining
Investment:
- Yuyuan
- Focus Media
- Minsheng Bank
- Club Med[6]
- Folli Follie
- St John, an American fashion brand that specializes in women's knitwear
- Perfect World (company)
- Thomas Cook Grp
Asset Management:
- Fosun Capital
- Fosun Chuanghong
- Carlyle-Fosun
- Pramerica-Fosun China Opportunity Fund
- Star Capital
- Real estate funds of Forte
Insurance:
- Pramerica-Fosun Life Insurance
- Yong'an Insurance
- Peak Reinsurance
Real Estate:
- One Chase Manhattan Plaza (New York)
- Lloyds Chambers (London)
- Citigroup Center (Tokyo)
- 73 Miller Street (Sydney)
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 ascended to No. 1136 in Forbes Global Top 2000 enterprises.
References
- ↑ Fosun International Limited Background
- ↑ "China's Fosun joins bidding war for Portuguese hospital operator". BBC News. 23 September 2014. Retrieved 23 September 2014.
- ↑ Fosun Invested in BHF German Largest Independent Private Bank
- ↑ China's Fosun to buy U.S. insurer to help finance acquisition spree. Reuters, 30 December 2014
- ↑ Kang, Xiaoxiao (5 March 2013). "Fosun Pharma bidding $22.5 mln for U.S. Saladax". Morning Whistle. Retrieved 3 April 2013.
- ↑ Chinese Firm Is Behind a Group Bidding for Club Med