China Fortune Land Development

China Fortune Land Development
Company typepublic
IndustryReal estate development
FounderWang Wenxue
Headquarters
  • Langfang, China (legal)
  • Beijing, China (de facto)
RevenueIncreaseCN¥38.335 billion (2015)
IncreaseCN¥6.903 billion (2015)
IncreaseCN¥4.834 billion (2015)
Total assetsIncreaseCN¥168.623 billion (2015)
Total equityIncreaseCN¥13.527 billion (2015)
OwnerChina Fortune Land Development Holding (68.88%)
SubsidiariesHebei F.C. (100%)
Websitecfldcn.com
Footnotes / references
in consolidated basis[1]
China Fortune Land Development Co., Ltd.
Simplified Chinese华夏幸福基业股份有限公司
Traditional Chinese華夏幸福基業股份有限公司
Transcriptions
Standard Mandarin
Hanyu PinyinHuáxià xìngfú jīyè gǔfèn yǒuxiàn gōngsī

China Fortune Land Development Co., Ltd. is a publicly traded Chinese real estate developer, based in Beijing, headed by Wang Wenxue and focused on industrial parks. It purchased Chinese Super League club Hebei China Fortune F.C. on 27 January 2015.[2][3] Wang Wenxue still the largest shareholder of the company via China Fortune Land Development Holding.

Background

China Fortune Land Development's primary business is building and operating industrial parks and related real estate.[4]: 95  Its significant projects include Gu'an High Tech Park in Hebei.[4]: 95  China's central government has designated Gu'an High Tech Park as a "National Demonstration Public Private Partnership Project".[4]: 96–97 

As of May 2015, Wang Wenxue has an estimated net worth of US$4.1 billion.[5]

China Fortune Land Development was a constituent of the CSI 300 Index (index for large to medium-sized companies in the mainland China's stock exchanges) as well as its sub-index CSI 100 Index. Since June 2017, it also part of Shanghai Stock Exchange's blue chip index: SSE 50 Index.[6]

In 2017, Caixin Weekly described China Fortune Land Development as a "city maker" due to the scale of its projects.[4]: 95 

China Fortune Land Development in 2023 restructured 80% of its 219 billion yuan ($31.7 billion) debt through asset sales,[7] restructuring offshore assets,[8] setting up a trust fund,[9] selling its real estate division[10] and started making a profit.[11]

References

  1. ^ 2015 Annual Report Archived 2016-09-24 at the Wayback Machine China Fortune Land Development (in Chinese)
  2. ^ 河北中基更名河北华夏幸福 安蒂奇上任签约三年 (in Chinese). sohu.com. 2015-01-27. Retrieved 2015-01-27.
  3. ^ 足协发布公告：河北中基正式更名为河北华夏幸福 (in Chinese). sina.com. 2015-12-15. Retrieved 2016-01-17.
  4. ^ a b c d Lan, Xiaohuan (2024). How China Works: An Introduction to China's State-led Economic Development. Translated by Topp, Gary. Palgrave Macmillan. doi:10.1007/978-981-97-0080-6. ISBN 978-981-97-0079-0.
  5. ^ "Wang Wenxue". Forbes. Retrieved 11 May 2015.
  6. ^ 沪深300、上证50和中证500等指数2017年第一次定期调整样本股 (Press release) (in Chinese (China)). Shanghai Stock Exchange. 31 May 2017. Retrieved 30 October 2017.
  7. ^ "Cash-Strapped Chinese Developer Sells $1.8 Billion of Assets to State-Owned Rival". Caixin Global. December 29, 2022.
  8. ^ "U.K. Court Clears Way for China Fortune Land's Offshore Bond Restructuring". Caixin Global. January 27, 2023.
  9. ^ "China Fortune Land to set up $3.5 billion trust fund to help pay debt". ET Realty. November 11, 2023.
  10. ^ "China Fortune Land sells property units to CR Land in debt restructuring". ET Realty. December 29, 2022.
  11. ^ "China Fortune Land Restructures Debt and Posts Profit". Caixin Global. May 3, 2023.


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