Fosun Group Co. Ltd. is a Hong Kong-based multinational conglomerate founded in 1992. The group focuses on five major business sectors: resources, real estate, industrial operations, healthcare, and financial services. As of 2019, Fosun has more than 20,000 employees.
Fosun Group was founded by the four friends Xie Yong, Xu Ming, Liang Xinjun, and Wang Qunbin. The company started as a small trading firm in the coastal city of Foshan in Guangdong province. After some difficult years and several bold moves, Fosun went public in Hong Kong in 2007 and quickly established a portfolio that included luxury department stores, real estate, steel products, and retail stores.
Fosun has since grown to become one of China’s leading private-sector multinationals. It has executed several major acquisitions in the past decade, including Portugal’s Espírito Santo International Bank, the Anglo-American insurer Ironshore Insurance, and an equity stake in Cirque du Soleil. Fosun also owns major investments in a variety of industries, including club management, film production, and aviation.
Fosuns foray into healthcare began in 2013, when the company invested in Shanghai-based WuXi AppTec, a pharmaceutical research and development provider. Other healthcare investments include domestic insurers, hospitals, and health care technology companies situated in both mainland China and overseas. Fosuns healthcare operations are overseen by its subsidiary, Fosun Pharma, a Shenzhen-based pharmaceutical and healthcare products manufacturer.
In the area of financial services, Fosun’s portfolio includes investments in Indian insurance, asset management, and venture capital firms. Fosun also owns an equity stake in China’s largest life insurer, Ping An, as well as the Chinese investment bank, Union Securities.
Fosun has established businesses in the world’s key markets, including Europe, the United States, and India. In addition, the company has a presence in Japan, Australia, and South Africa. Fosun continuously aims to expand its presence in global markets, with a focus on identifying opportunities in the fastest-growing regions.
Fosun is committed to developing its global businesses while also staying true to its core of providing superior customer experience and value. The conglomerate values innovation, sustainability, and entrepreneurship and is dedicated to pursuing growth through enterprise, enhancing the well-being of its customers and shareholders while contributing to the steady and sound development of the world’s economy.
