Caixin
Nov 12, 2022 07:15 PM
BUSINESS

Fosun Chairman Defends Group’s Solvency

Guo Guangchang, Fosun’s billionaire chairman and co-founder. Photo: VCG
Guo Guangchang, Fosun’s billionaire chairman and co-founder. Photo: VCG

Fosun International Ltd.’s billionaire Chairman Guo Guangchang said the conglomerate has enough capital to cushion it from market risks, noting that the group itself has 270 billion yuan ($37.4 billion) in total assets versus 100 billion yuan in liabilities.

Guo’s remarks, made on an earnings conference call Thursday, are his latest effort to allay investor concerns about the Chinese multinational’s debt risks, as China’s sluggish growth and stricter regulatory environment have put growing liquidity pressure on private sector companies.

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