TOPIC

/ company

Fosun Group

Fosun International (Hong Kong stock code 00656.HK), the parent of Fosun Group, listed in Hong Kong in July 2007. Fosun Group said it mainly invests in sectors that will significantly benefit from growth in China’s domestic demand, such as consumption, financial services, resources and energy, and manufacturing.

Chairman / President

Guo Guangchang

CEO / Managing Director

Xu Xiaoliang

CFO / Finance Director

Xu Xiaoliang

Industry

Conglomerate

Website

fosun.com

Headquarters address

Room 808, ICBC Tower, 3 Garden Road, Central, Hong Kong

Stock Code

SEHK:00656

Year founded

1992

last updated:

30 September, 2024

Fosun’s Shanghai Henlius, Tecent-backed XtalPi ink partnership deals with Asian partners. Photo: Shanghai Henlius

Health in China

Chinese pharmaceutical companies look abroad for growth markets

Shanghai Henlius struck a deal in Saudi Arabia while XtalPi signed a partnership with Sinar Mas Multiartha in Indonesia.

11 Nov 2024 - 7:01PM

Mergers & Acquisitions

China’s Fosun in talks to sell stake in Club Med to Singapore’s CapitaLand

17 Sep 2024 - 4:52PM

Hong Kong stock market

Club Med owner bets on winter sports in China amid skiing craze

25 Aug 2024 - 2:30PM

Hong Kong stock market

Shanghai biotech firm’s shares soar after Fosun’s US$690 million buyout offer

Henlius joins a wave of companies that have left Hong Kong’s stock market this year, either through privatisation or voluntary delisting having found themselves undervalued.

25 Jun 2024 - 5:20PMvideocam

Phosun Pharma will pay a premium of 36.7 per cent over Monday’s closing price of HK$18 for Henlius. Photo: Reuters

Mergers & Acquisitions

China’s Fosun International sells German private bank HAL to ABN Amro

The company, one of China’s largest private-sector conglomerates, aims to cut its debts by 10 billion yuan (US$1.38 billion) annually in the next two to three years.

28 May 2024 - 6:06PM

Hong Kong

US law firm Mayer Brown to split its Hong Kong operations

Mayer Brown’s Hong Kong partners plan to reestablish their firm as Johnson Stokes & Master, which was the name of the Hong Kong-based entity that merged with Mayer Brown in 2008.

3 May 2024 - 10:24AM

Insurance

China’s Fosun sells stake in Belgian insurer Ageas to BNP Paribas

More divestments to come, analyst says, as conglomerate aims to cut debts by US$1.38 billion annually in the next two to three years.

15 Apr 2024 - 6:00PM

Banking & finance

Chinese conglomerate Fosun dumps noncore assets, deleverages to boost financial profile

Chinese conglomerate Fosun International is rapidly offloading assets as it looks to lower debt and concentrate on sustainable businesses

28 Mar 2024 - 3:46PM

China property

Fosun unit courts investors days after reports of debt woes at parent firm

Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, is courting both domestic and international investors in a move that is in line with its asset-light strategy.

15 Mar 2024 - 8:15PMvideocam

China property

Fosun unit says it is ‘financially sound’ amid Atlantis Sanya stake sale reports

Fosun Tourism Group, the leisure and tourism unit of Fosun International, said on Wednesday that it is “financially sound”, amid reports that its parent firm is mulling the sale of a stake in the luxury resort to cope with debt.

6 Mar 2024 - 9:05PM

The Atlantis Sanya. Fosun International has been in talks with potential buyers over the sale of a part or all of its stake in the resort. Photo: Xinhua

Electric & new energy vehicles

Exclusive | Chinese AI logistics firm picks Hong Kong for international headquarters

Westwell, which makes AI chips and autonomous vehicles for the logistics industry, inaugurates on Tuesday its international headquarters in Hong Kong as a springboard to global expansion.

20 Feb 2024 - 7:30AM

Westwell’s flagship product, the Q-Truck, is an autonomous, battery-powered commercial vehicle for use in logistics. Photo: Handout

China's economic recovery

China’s ‘days of runaway growth have gone’, firms urged to thrive overseas

Fosun Group founder Guo Guangchang says China’s private firms have suffered from high debt and heavy asset loads, while Juneyao Group chairman Wang Junjin says entrepreneurs should ‘refuse lying flat’.

16 Jan 2024 - 8:00AM

Medicine

Fosun Pharma to deliver China-made surgical robots in key medical milestone

The Fosun Group is looking to make another major leap in the healthcare industry as it prepares to deliver locally-made surgical robots to hospitals.

12 Nov 2023 - 4:14PMvideocam

China stock market

China’s hotel operators relish National Day windfall on pent-up holiday demand

The eight-day National Day holiday season promises to deliver a windfall for China’s tourism industry. Pent-up demand could overwhelm capacity, allowing hotel operators to raise prices by as much as 10 times, some of them said.

4 Sep 2023 - 9:00AMvideocam

People seen on the Bund as they mark China’s National Day in Shanghai on October 1 last year. Photo: EPA-EFE

International Property

Hongkongers head for ski slopes, bucket-list spots as travel rebounds: Club Med

The resort operator, owned by Fosun Tourism, said people are now spending 23 per cent more and staying 10 per cent longer than they did before the pandemic.

4 Sep 2023 - 11:18AMvideocam

Club Med’s resort Pragelato Sestriere in Italy. Photo: Handout

Tourism

Fosun Tourism’s Club Med to build resorts in Hainan as Chinese tourists return

Club Med aims to build one or two more resorts in Hainan province, most likely in major cities such as Sanya and Wenchang, while parent Fosun Tourism is optimistic about posting a profit after back-to-back losses in 2021 and 2022.

21 Apr 2023 - 8:30AMvideocam

Tourism

Club Med lures Singapore, Malaysia tourists to snowy destinations

The resort operator reports a ‘strong rebound’ as the reopening of mainland China, coupled with pent-up demand everywhere, bodes well for the pandemic-battered tourism sector.

30 Jan 2023 - 12:30PMvideocam

China's border reopening

Shanghai Fosun sees mainland demand for Omicron-focused BioNTech shot in Hong Kong

Long queues of mainland Chinese nationals looking to receive the mRNA vaccine have been seen outside Hong Kong clinics following a re-opening of the border.

12 Jan 2023 - 7:48AM

Mainlanders are rushing to Hong Kong for mRNA vaccine. Photo: Reuters

Explainers: Business

Explainer | 21 private-sector firms tout China economy in state-TV showcase

Executives of 21 private-sector businesses, including Alibaba, JD.com, Fosun and Blue Moon, appear in a CCTV programme that signals Beijing’s determination to revive entrepreneur confidence.

21 Mar 2023 - 12:49PM

Hong Kong healthcare and hospitals

Chinese distributor offers bivalent jabs in Hong Kong to mainlanders from next week

Bivalent BioNTech jab services offered on platform operated by Shanghai Fosun Pharmaceutical Group, which includes 299 yuan booking fee.

10 Jan 2023 - 10:26AMvideocam

Mergers & Acquisitions

Fosun International to sell stakes in four companies for US$975 million

Heavily indebted Fosun International has been selling some assets as it faced questions about its financial strength in recent months.

5 Jan 2023 - 8:33PM

Medicine

Fosun mulls sale of Indian drug maker Gland valued at US$3.6 billion

A sale of Hyderabad-based Gland, which specialises in injectable drugs such as antibiotics, oncology and cardiology treatments, will help Fosun raise cash and shore up its balance sheet.

29 Nov 2022 - 3:02PM

Fosun Pharma is in talks with prospective buyers to sell its stake in India’s Gland Pharma. Photo: Reuters

Bonds

Fosun to sell stake in Nanjing Iron & Steel for US$2.1 billion, source says

Fosun International, which holds a 58.92 per cent stake in Shanghai-listed Nanjing Iron & Steel, is close to finalising a deal with Jiangsu Shagang Group, a source said.

17 Oct 2022 - 6:30PM

Banking & finance

Fosun sells assets amid credit downgrades, liquidity pressure

Fosun International has sold some of its peripheral assets to raise almost US$100 million in cash in recent weeks, as credit rating cuts heighten concerns about the conglomerate’s financial strength.

20 Sep 2022 - 6:40PM

Financial regulation

Exclusive | Club Med’s owner Fosun denies it is under regulators’ debt scrutiny

Fosun International has denied reports that regulators had sought information on potential credit exposure from lenders.

14 Sep 2022 - 12:51PM

Fosun International Limited’s headquarters in Shanghai on December 11, 2015. Photo: Bloomberg

Corruption in China

Executives at China’s biggest online dating firm arrested for embezzlement

An undisclosed number of executives at Chinese an online-dating company have been arrested for alleged financial embezzlement, Fosun says, following a social media post about their disappearance.

20 Jul 2022 - 2:34AMvideocam

A financial scandal has erupted at the company behind China’s biggest matchmaking and wedding platforms. Photo: Getty Images

Fashion

Which luxury fashion brand will Lanvin acquire next?

Inside the upcoming plans of China’s Fosun International Ltd., from New York Stock Exchange additions to breaking into the Gen Z market

15 Jul 2022 - 12:45PM

Chinese fashion

Lanvin aims to woo US consumers via Shopify ahead of New York listing

Fosun International’s fashion group Lanvin said it will partner with Canadian e-commerce website Shopify to bring European brands to US consumers.

27 Apr 2022 - 6:30PM

Help preserve 120 years of quality journalism.

SUPPORT NOW