February 26 article: Could Fuxing Department get involved in the automotive industry? That may not be a big issue. The real question is how much the Fosun Galaxy wants to and can invest in the automotive sector. Recently, Liang Xinjun, Vice Chairman of Fosun Group, revealed to reporters that Fosun has ambitions to enter the bus and auto parts industries, with a total investment of one billion yuan. The company has also participated in events like the National Idol Singers Contest and the 51 Wonderful Wireless Awards, even winning the Golden Jubilee Award for the China Cyber Pop Singer Contest. In recent years, the Fosun Galaxy has gained recognition in the domestic capital market. It holds shares in over 100 companies, with investments spanning biopharmaceuticals, real estate, information technology, commerce, finance, steel, and automobiles. Its diverse interests are impressive. Behind the Galaxy is Guo Guangchang, who ranked ninth on the 2003 Forbes China Rich List with assets exceeding three billion yuan. But the question remains: does Fosun want to truly develop in the automotive industry, or is it just capitalizing on the current trend? Will this be a test of its capital operation skills? Time will tell. When asked about a new passenger car project launched in March, Liang Xinjun confidently said, “We will increase cooperation in passenger cars. The Jinlong segment will grow significantly.” Fosun’s “Car Dream Plan” includes launching a new bus project in March, though details were kept confidential due to concerns about leaks. However, he confirmed it was a foreign joint venture project. Fosun has been involved in passenger car manufacturing since last year, including a partnership with Jiangxi Coal Group in Nanchang, aiming to develop Anyuan buses. They also acquired a 25% stake in Xiamen Jinlong. Within two to three years, they hope to achieve 2 billion yuan in sales from Anyuan Bus, with a planned investment of one billion yuan. Liang explained their strategy using “reverse thinking”: “In China’s auto industry, only agricultural vehicles, construction vehicles, passenger cars, and trucks are cheaper than elsewhere. We aim to find competitive areas within the auto industry.” He believes that low-cost competition in agricultural vehicles and labor-intensive construction vehicles offer opportunities, while passenger cars align with Fosun’s investment goals. Fosun has also explored overseas acquisitions in the auto parts industry, with plans to invest around one billion yuan. Although Liang denied entering the car manufacturing sector, he emphasized interest in auto parts, stating Fosun is in talks with both domestic and international manufacturers. Meanwhile, Nanjing Automobile confirmed discussions with Fosun, though specifics remain unclear. Analysts believe Fosun’s involvement in the auto industry could be strategic, as entry into car manufacturing is tightly controlled. Private capital often starts with buses before moving toward full vehicles. Despite Fosun’s focus on rapid returns, the automotive industry is known for long cycles and high costs, which may challenge its traditional capital operations. According to a report by New Fortune, Fosun’s financial risks have been rising, and larger investments mean higher potential losses. As Fosun continues to expand, its next moves in the auto industry will be closely watched.

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