Hengdian Group
TypePrivate[1]
IndustryFilm, electronic, pharmaceutical
Founded1975
FounderXu Wenrong[2]
HeadquartersHengdian, Zhejiang[3]
Key people
Xu Wenrong (Founder)
Xu Yongan (Chairman[4] & President[5])
RevenueIncrease CNY88.6 billion[6] (2022)
Number of employees
over 50,000 (2017)[7]
Websitewww.hengdian.com

Hengdian Group (Chinese: 横店集团[8]), abbreviated as HG,[9] is a Chinese private conglomerate founded by Xu Wenrong[10] in 1975 in Hengdian, Zhejiang.[11] It focuses on the fields of electrical and electronic,[12] pharmaceutical and chemical,[13] film and entertainment,[14] and modern services.[15] Since 1996,[16] Hengdian Group has operated Hengdian World Studios.[17]

History

In 1975, Xu Wenrong set up Hengdian Reeling Silk Factory,[18] which was the predecessor of Hengdian Group. In the 1990s, it expanded into high-tech sectors such as hard magnets, soft magnets, and pharmaceutical manufacturing.[19]

In 2004, Hengdian Group, Warner Bros. and China Film Group Corporation[20] established the Warner China Film HG,[21] which is a joint venture.[22] In 2008, it established the Zhejiang Hengdian Film Production Company.[23]

In 1989, Hengdian group founded Apeloa Pharmaceutical, which was listed on the Shenzhen Stock Exchange in 1997, covers active pharmaceutical ingredients and intermediates, pesticides, medical devices and medical services.

Hengdian Group also expanded into the lighting field in late 1990s，covering light-emitting diode fixtures, lighting sources, smart lighting and automotive lighting.[24]

In 2017, Tospo Lighting Co., Ltd., a subsidiary of Hengdian Group, completed an IPO on the Shanghai Stock Exchange.[25]

In August 2019, Nanhua Futures, a subsidiary of Hengdian Group, was listed on the Shanghai Stock Exchange.[26]

In December 2021, Hengdian DMEGC, a public subsidiary of Hengdian Group,[27] planned to form a joint venture with Japan's Foster Electric Co. in Vietnam for the manufacturing of ferrite magnets.[28] In November 2022, DMEGC signed an investment deal with Yibin, Sichuan to construct a 20 GW TOPCon cell factory in three phases for CNY 10bn ($1.41bn). [29]

In March 2022, Apeloa Pharmaceutical Co., a public subsidiary of Hengdian Group, [30] have signed on with UN-backed public health organization Medicines Patent Pool (MPP)to manufacture the generic version of Pfizer's oral COVID-19 treatment, nirmatrelvir. [31]

In July 2022, Hengdian Entertainment, one of the listed companies of Hengdian group, offered RMB 3 billion ($446 millon) to acquire Shanghai Xingyi Cinema Managements.[32]

Business areas

Electrical and Electronic

·DMEGC Magnetics [33]

·Tospo Lighting [34]

Pharmaceutical and Healthcare

·Apeloa Pharmaceutical[35]

Film and Entertainment

·Hengdian Entertainment [36]

·Hengdian World Studios [37]

Modern Services

·Nanhua Futures[38]

References

  1. ↑ Liz Teitz (Oct 24, 2019). "Wesleyan scraps idea of opening campus in China". The Middletown Press.
  2. ↑ "The New Yuanming Garden will be fully opened to the public in July 2019". Lianhe Zaobao. 2018-01-15.
  3. ↑ Emily Feng (February 29, 2020). "As New Coronavirus Cases Slow In China, Factories Start Reopening". National Public Radio.
  4. ↑ Don Groves (Oct 13, 2004). "WB gets China foothold". Variety.
  5. ↑ "Hengdian Group: A Big Fish In A Small Town". Chemical & Engineering News. January 26, 2004.
  6. ↑ "Hengdian Group's revenue will exceed 88.6 billion yuan in 2022". thepaper.cn. 2023-03-10.
  7. ↑ Zigor Aldama (Feb 25, 2017). "Behind the scenes in the 'Hollywood' of China". South China Morning Post.
  8. ↑ Steven Lee Myers (2018-12-04). "王朝、抗日、宫斗：横店影视城的幻想世界 (Epic Battles, Palaces and Concubines: A Chinese Studio's Vast World of Fantasy)". The New York Times.
  9. ↑ Riccardo Crescenzi; Marco Percoco (13 December 2012). Geography, Institutions and Regional Economic Performance. Springer. pp. 411–. ISBN 978-3-642-33395-8.
  10. ↑ Keming Yang (29 April 2016). Entrepreneurship in China. Routledge. pp. 177–. ISBN 978-1-317-14257-7.
  11. ↑ Ian Johnson (April 15, 2013). "Studio City". The New Yorker.
  12. ↑ Christina Lubinski; Jeffrey Fear; Paloma Fernández Pérez (18 July 2013). Family Multinationals: Entrepreneurship, Governance, and Pathways to Internationalization. Routledge. pp. 107–. ISBN 978-1-135-04493-0.
  13. ↑ Jean-François Tremblay (March 12, 2007). "China Strides Toward Global Pharma Role". Chemical & Engineering News.
  14. ↑ Arthur Jones (Nov 2, 2003). "Hengdian will play host for kid film fest". Variety.
  15. ↑ Ma Zhenhuan (2021-10-28). "Hengdian Group seeks to diversify development". Chinadaily.
  16. ↑ "Essential International Studios". The Hollywood Reporter. May 8, 2012.
  17. ↑ Clarence Tsui (June 4, 2013). "Chinese Regulators Approve 'Arabian Nights' for U.S.-China Co-Production". The Hollywood Reporter.
  18. ↑ Zhi-Xue Zhang; Jianjun Zhang (19 June 2014). Understanding Chinese Firms from Multiple Perspectives. Routledge. pp. 97–. ISBN 978-3-642-54417-0.
  19. ↑ Li Shiqiao (1 April 2014). Understanding the Chinese City. SAGE Publications. pp. 50–. ISBN 978-1-4739-0540-5.
  20. ↑ Min Lee (September 10, 2008). "Twentieth Century Fox opens Asian studio". Fox News.
  21. ↑ Don Lee (May 15, 2006). "Chinese Villagers Trade Plowshares for Film Scripts". Los Angeles Times.
  22. ↑ "Fox Invests in First Chinese Film". The New York Times. Sep 30, 2009.
  23. ↑ Ruoyun Bai (19 September 2014). Staging Corruption: Chinese Television and Politics. UBC Press. pp. 47–. ISBN 978-0-7748-2634-1.
  24. ↑ Ma Zhenhuan (2021-10-28). "Hengdian Group seeks to diversify development". Chinadaily.
  25. ↑ Sun Chuanting (March 22, 2017). "Hengdian Group Tospo Lighting Co., Ltd. has completed an IPO in the amount of CNY 1.1178 billion". marketscreener.com.
  26. ↑ Sun Chuanting (2019-08-30). "Nanhua Futures officially landed on the Shanghai Stock Exchange". Duowei News.
  27. ↑ "Tesla suppliers' shares jump as electric automaker cuts prices for some models in China". CNBC. January 6, 2023.
  28. ↑ "Japan's Foster Electric to open speaker material plant in Vietnam". nippon.com. January 16, 2021.
  29. ↑ "The world of renewables this week". Rethink Research. January 25, 2023.
  30. ↑ "Hengdian Group seeks to diversify development". chinadaily. 2021-10-28.
  31. ↑ "Frustration is rising over Covid drug shortages in China, and there are no easy answers". CNN.
  32. ↑ "China's Hengdian Proposes $450 Million Cinema Consolidation Deal". variety. Jul 12, 2022.
  33. ↑ "Hengdian Group DMEGC Magnetics Co., Ltd". marketscreener.com. Jul 12, 2022.
  34. ↑ "Hengdian Group seeks to diversify developmen". chinadaily.
  35. ↑ "Hengdian Group seeks to diversify development". chinadaily.
  36. ↑ "China's Hengdian Proposes $450 Million Cinema Consolidation Deal". variety.
  37. ↑ "Is 'Chinawood' the new Hollywood?". BBC.
  38. ↑ "Nanhua Gets Nod to Become First Chinese Mainland-Listed Futures Firm". yicaiglobal.
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