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09
2017
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10
Guo Guangchang has established the Southwest headquarters of Fosun Group in Chongqing!
Source:
On September 29, China's largest comprehensive private enterprise group -Fosun Group's Southwest headquarters officially launched in Chongqing.On the same day, Fosun Group signed a strategic cooperation agreement with the Chongqing municipal government regarding related industries.
Chairman Guo Guangchang personally attended the launch ceremony. The highest-ranking leader from Chongqing attending this event was Deputy Secretary of the Municipal Party Committee Tang Liangzhi.
Fosun Group's global headquarters is located in Shanghai, with a regional headquarters in Beijing and plans for a southern headquarters in Guangzhou. Establishing a Southwest headquarters in Chongqing is undoubtedly an important step in its expansion into the western region.
Fosun's Southwest headquarters is located within the Chongqing Free Trade Zone. Fosun will integrate its advantageous resources and increase support for the projects outlined in the strategic cooperation framework agreement in terms of funding, technology, and branding, with project resources tilted towards the Chongqing area.
Fosun entered Chongqing around 2002.As of now, Fosun Group and its invested companies have invested in health, finance, raw materials, and real estate in Chongqing, with a total investment exceeding 10 billion RMB.
The results of the investment and operation are sufficient to demonstrate the correctness of entering the Chongqing market.
In the pharmaceutical sector:
1. Around 2001, it took control of the Chongqing Pharmaceutical Industry Research Institute. This institute was established in 1950, and in 2001, as one of the first research institutes in Chongqing to transition, Fosun Pharma and Chongqing Pharmaceutical (Group) Co., Ltd. jointly established Chongqing Pharmaceutical Industry Research Institute Co., Ltd. (hereinafter referred to as "Chongqing Pharmaceutical Institute"). It is now one of the well-known drug research and development bases in China.
2. In June 2002, Fosun Industrial invested 69 million RMB to become the largest shareholder of Chongqing Yaoyou with 51% of the shares.
Chongqing Yaoyou is a well-known pharmaceutical company in Southwest China, and its core product, Atomolan, is still one of Fosun Pharma's important profit-generating products. In 2004, Guo Guangchang stated in an interview with Chongqing media, "These two projects have developed very well in Chongqing, with Yaoyou's annual sales and profits increasing by more than 50% each year."
3. Chongqing Fuchuang Pharmaceutical Research Co., Ltd. is a high-tech enterprise specializing in the research and development of small molecule innovative drugs. It was founded in 2009 by overseas scientists selected for the "National Thousand Talents Program."
Investors include Fosun Pharma, Jiangsu Wanbang Biopharmaceutical Co., Ltd., and Chongqing Pharmaceutical Industry Research Institute, among others. The company is headquartered in Chongqing, China, and has two wholly-owned subsidiaries (research laboratories) in Shanghai, China, and San Francisco, USA, forming a unique international layout of "two countries and three places," implementing 24-hour uninterrupted relay scientific research.
4. On July 30, 2015, Fosun Pharma announced that it would increase its capital in its subsidiary Chongqing Yaoyou by subscribing to 13.5 million shares of Chongqing Yaoyou, accounting for about 2.95% of the total share capital, involving 203 million RMB. Chongqing Yaoyou is the largest pharmaceutical group in Southwest China, integrating drug research and development, manufacturing, distribution, and retail.
5. In 2016, it participated in the major asset restructuring of Jianfeng Chemical. As an existing shareholder of Chongqing Yaoyou, Fosun Pharma and its controlling subsidiary Guilin Nanyao Co., Ltd. planned to participate in the major asset restructuring of Jianfeng Chemical by holding a total of 13.717 million shares of Chongqing Yaoyou. Jianfeng Chemical plans to use a non-public share issuance as consideration to acquire these target assets. This restructuring is currently underway.
Real estate sector
Fosun Group's subsidiary, Fudi Group, entered Chongqing around 2005, developing properties including Fudi Shangcheng, Fucheng International, Fudi Mountain and City, and Fudi Huayu City, among others.
In 2013, it invested 700 million RMB to acquire about 14 acres of prime land next to Luohansi in Yuzhong District, planning to create a new commercial project, Fudi Financial Center. This project is still under construction.
After years of investment and acquisition, Fosun is categorizing its assets into three sectors: "health, happiness, and wealth." The strategic cooperation with the Chongqing government also revolves around this strategy.
It is understood that in the future, in the field of health, Fosun Group will introduce international advanced equipment and technology as well as international medical resources in Chongqing, investing in the development of health industry projects to accelerate the development of Chongqing's health industry and improve the level of medical care and health services in Chongqing.
In the field of transportation infrastructure construction, Fosun Group will leverage its existing experience and resources in transportation infrastructure construction, logistics industry resources, etc., to help Chongqing become a transportation hub in the west.
In the field of science and education, Fosun Group will rely on innovative research and international education resources to assist Chongqing in building an innovation center in the west and enhance the internationalization level of Chongqing's education.
In the field of cultural, sports, and tourism industries, Fosun Group will rely on Chongqing's existing tourism resources to introduce world-class tourism products suitable for Chongqing's reality.
It is noted that in October 2016, senior executives from Xingjing Capital, a professional PPP project fund management company under Fosun Group, visited the Chongqing PPP project management departments and major implementation agencies such as the Municipal Development and Reform Commission, Finance Bureau, Urban and Rural Construction Committee, Yufu Group, City Investment Group, and Transportation Investment Group intensively within two days, and conducted in-depth discussions and exchanges on projects in infrastructure construction, urban construction, environmental protection, energy, and other fields that they were interested in.
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E-mail: cpri@cpri.com.cn
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