Depth report

　　

Guo Guangchang, Chinese Buffett, this name is always associated with huge amounts of funds and huge assets.

　 On the "2015 Forbes China Rich List", Guo Guangchang ranked 11th with a net worth of 46.3 billion yuan. Compared with a year ago, his wealth increased by 20 billion yuan and his ranking jumped 14 places.

    Guo Guangchang, who has a special liking for Tai Chi, is seen by the industry as a legendary figure in capital operation. From the 38,000 capital borrowed that year, to the current capital empire of more than 300 billion Fosun Group, Guo Guangchang is How to do it? What's the story behind this sudden loss of contact?

Business legend

　 The story of how the poor boy Guo Guangchang won hundreds of billions of net worth from 38,000 yuan has always been talked about. This is the most legendary wealth creation story of the previous generation of Chinese private entrepreneurs. The story has not only made the Fosun system, but also Guo's status in the arena, and all of this even needs to be traced back to his overseas plot layout.

　　 Liang Xinjun recently stated that Fosun’s global investment map is large in Europe. At present, it has invested in more than 50 projects around the world, with a total investment of approximately 11.1 billion U.S. dollars.

　　Fosun's large-scale foreign investment has a lot to do with its huge investable funds and diversified financial companies.

　　The financial sector has indeed brought considerable investable funds to Fosun. According to Fosun's 2015 semi-annual report, the investable capital of company insurance reached a record 142.7 billion yuan, a significant increase of 30% over the end of last year. Fosun's investment mainly consists of four major parts: strategic investment, private equity and venture capital (PE/VC). The investment in the secondary market is mainly as a limited partner (LP).

　　In terms of capital management, Fosun acts as the general partner of the funds under management by raising third-party funds for capital business. Fosun also owns all or part of the equity in financial companies such as Fosun Finance Company, Zhejiang Internet Commercial Bank, Hengli Securities, and Chuangfu Financial Leasing.

　　 While the capital of Fosun Group has snowballed wildly, Guo Guangchang, the chairman of the board, is also worth more and more. Public information shows that Guo Guangchang's net worth has increased from 21.419 billion yuan last year to 41.033 billion yuan, making him the fourth richest man in China.

The largest source of Guo Guangchang’s wealth is Fosun International. Guo Guangchang’s 45.84% shareholding company’s major shareholder has benefited from the six-year highs of Fosun International’s stock price and the steady growth of other assets. This is also the main reason for Guo Guangchang’s continuous doubling in value. the reason.

In addition, Guo Guangchang obtained a fortune of 8.3 billion yuan by holding 18.83% of Fosun Pharma, and by holding 23.02% and 23.04% of the shares of Shanghai Iron and Steel and *ST Nangang, he also gained 1.456 billion and 1.429 billion respectively. .

　　 In addition to the four listed companies mentioned above, Guo Guangchang has also accumulated more than 3.8 billion yuan of wealth by participating in seven other listed companies. They are Yuyuan Mall (holding 11.46%), Hansen Pharmaceutical (holding 3.18%), Dean Diagnostics (holding 0.99%), Jinhe Industrial (holding 1.98%), Zhejiang Yongqiang (holding 1.30%) , Baililian (holding 1.10%), Minsheng Bank (holding 1.14%) and so on.

Capital empire crossroads

　　 In fact, compared with the entire Fosun system, Guo Guangchang's fame and fortune can be regarded as huge, even though the Fosun system is already a giant in the business world.

According to the latest data, the market value of listed companies controlled and held by Fosun is more than 300 billion yuan. The market value of the 6 listed companies directly controlled by Fosun is close to 130 billion yuan. As the flagship company, Fosun International, as of At the end of June this year, the total assets were 353.5 billion yuan.

　　 In addition, Fosun has a large number of unlisted companies and nearly tens of billions of dollars in overseas assets acquired in 14 countries around the world in the past few years. It is understood that the Fosun Group, which has been established for more than 20 years, is now a super company that controls 4 mainland listed companies, including 2 Hong Kong stock companies (of which Fosun Pharma is listed in A+H), and 2 overseas listed companies. The aircraft carrier is out.

According to public information, the listed companies currently holding and participating in Fosun Systems include: Fosun International, Sinopharm, Linekong Interactive, Fosun Pharma, Friendship, Yuyuan Mall, Minsheng Bank, Sanyuan, Nangang, Hainan Mining , Zhongxing Commercial, Guangtian, Shanghai Ganglian, Zhongshan Public, Tianyao, Xiangrui, Accord Pharmaceutical, Haixiang Pharmaceutical, Zhaojin Mining, Lianhua Supermarket, etc.; non-listed assets include Nanganglian, Ningbo Steel, Jianlong Group, China Mining, Debon Securities, etc.

　　 The entire Fosun Group’s business involves pharmaceuticals, real estate, retail, steel, mining, insurance, PE, etc., and its investment area has expanded from Europe to North America, the Middle East, and Southeast Asia.

According to the data, the net assets of Fosun Group attributable to shareholders of the parent company in 2014 were RMB 49.408 billion, an increase of 24.7% from the end of 2013. The profit attributable to shareholders of the parent company was RMB 6.854 billion, a year-on-year increase of 24.2%. Total assets It was 324.832 billion yuan.

　　 According to the reporter's understanding, as of the end of June this year, Fosun International's total revenue exceeded 29.7 billion yuan. In the financial sector, comprehensive financial income including insurance, investment, capital management and banking business is 5.7 billion yuan. However, the real estate business, which has been heavily reliant on before, has shown a downward trend in business volume. According to data disclosed by Fosun, among the industry sector’s revenue of 24.1 billion in the first half of the year, the revenue of steel reached approximately 11.6 billion yuan, accounting for nearly half of the sector. Including medical and health industries, the income is about 7.3 billion yuan, while the real estate sales income is only 4.2 billion yuan, ranking third.

　　 While reducing reliance on real estate, asset management and comprehensive finance are becoming Fosun’s core businesses. The investment and acquisition of financial institutions have made Fosun even more famous.

Regarding the role of the financial sector, Fosun stated in its 2015 mid-year report that “the financial sector will help further enhance our comprehensive financial capabilities and integrate domestic and foreign financial and financial resources.” In July this year, Fosun acquired a German private bank. 100% equity of H&A. The bank is one of Germany's largest independent private banks, with assets under management of approximately 43 billion euros. In June, Zhejiang Internet Commercial Bank was formally established and opened, and it was one of the first private banks in China. Fosun holds a 25% stake in the bank and is the second largest shareholder of Zhejiang Internet Commercial Bank. In addition, through equity participation in BHF Kleinwort Benson, Fosun indirectly holds two private banks, BHF Kleinwort Benson and BHF-Bank.

　　 The "one retreat and one advance" in the real estate and financial sectors are precisely the new choices made by the Fosun system capital empire under the new normal. However, with the sudden "lost contact" of the head Guo Guangchang, all these unfinished things will face more uncertainties. After all, unlike the change of coaches of state-owned enterprises, the "world" brought by private enterprise leaders is Will deeply imprint his personal imprint.