Fosun looks to improve investment grade
Fosun International will make increased efforts to improve the company's investment grade, said the conglomerate's founder and chairman, Guo Guangchang, at the Fosun Forum 2019 held in Shanghai on Wednesday.
Wang Qunbin, Fosun CEO, said the company will increase its investment in unicorn companies, particularly those seeking their series A funding, and technology innovation.
The company will also stick to the value investing strategy, said Wang.
Companies that can coordinate with Fosun's industrial development plan but are temporarily stuck at the bottom of their development cycle will also be major investment targets, he said.
The resort brand Club Med and British football club Wolverhampton Wanderers FC, which Fosun acquired in 2015 and 2016 respectively, are good examples of such investment targets as both have reported turnaround.
"The company will also stick to the rule of taking a controlling stake in our future investment targets. Globalization will also be a major focus," said Wang.
The consumer goods sector has contributed significantly to Fosun's income.
The company's 2018 fiscal report shows that the sector accounted for 87.6 percent of Fosun's turnover in 2018, while its compound average growth rate for the past six years has reached 36 percent.
