Fosun Chairman Guo Guangchang was reported missing by his company, causing its dramatic crash a day later. (Photo : Getty Images)
The chairman of Fosun International Limited, Guo Guangchang, stated that his conglomerate will be focusing on tourism and health industries this year, reported China Daily.
Founded in 1992, Fosun is the largest Chinese conglomerate that focuses on four main industries, namely, insurance, industrial operations, investments and asset management.
This year, Fosun intends to focus on healthcare management, health services, health insurance and tourism. This comes after the company saw a growth in the middle-class market that led to a bigger demand in social services, according to Guo. These services would be in sectors such as finance, insurance, healthcare and education.
Guo's estimated worth is 50 billion yuan, landing him on the 11th in the Hurun Rich List of 2015. He is also known as the Warren Buffet of China.
Fosun also plans to expand to the United Kingdom, Russia, India and Brazil. The firm has already made significant international acquisitions over the years, including Cirque de Soleil, a Canadian entertainment company. It also bought French resort brand Club Med for an estimated $1 million.
Aside from making overseas acquisitions, Fosun also plans to make its other companies more fluid by creating a leaner debt structure, thereby reducing its debtto-cost ratio.
According to Guo, the investment climate for oil is good, so Fosun plans to increase its investments in oil products. He admitted that the use of mobile Internet is transforming Chinese industries in a big way.
Guo was alleged to have committed corruption last year. Despite the allegations, he is determined to strengthen the conglomerate by expanding to other industries in the coming years.
