Baoneng Group

Baoneng Group is a Chinese property and financial services conglomerate controlled by Chinese billionaire Yao Zhenhua, China's fourth-richest man as of January 2017.[1]

Baoneng Group was founded in 1992, and is based in Shenzhen.[2][3] Baoneng Group comprises about 40 companies in real estate, logistics, microfinance, education, healthcare and insurance.[4]

Baoneng has over 40 shopping malls in China.[5]

It also has a controlling majority 63% in automobile maker Qoros , while Cherry autohas 25% and Kenon Holdings has rest 12%.

In February 2017, Yao was banned from China's insurance industry for ten years after a failed takeover bid for Vanke by a Baoneng company, Foresea Life Insurance.[6]

References
  1. Post Magazine. "The five things you need to know about the battle of Vanke | South China Morning Post". Scmp.com. Retrieved 27 July 2017.
  2. "Shenzhen BAONENG Investment Group Ltd: Private Company Information". Bloomberg. Retrieved 27 July 2017.
  3. "Baoneng Business Management". Baoneng100.com. Retrieved 27 July 2017.
  4. Post Magazine. "The driving force behind Baoneng's assault on Vanke | South China Morning Post". Scmp.com. Retrieved 27 July 2017.
  5. "Yao Zhenhua". Forbes.com. Retrieved 27 July 2017.
  6. Post Magazine. "Shenzhen tycoon Yao Zhenhua barred from insurance industry for 10 years | South China Morning Post". Scmp.com. Retrieved 27 July 2017.


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