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Billionaire back in public spotlight
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BILLIONAIRE Guo Guangchang made his first appearance at Fosun Group's 2016 annual working conference today after losing contact for four days.
Shares of local-listed Shanghai Fosun Pharmaceutical (Group) Co closed at 24.26 yuan (US$3.79), down 3.77 percent from the last trading day. But it represented a rebound from the slump of 6.74 percent at the start of the trading.
Guo was taken away by police on Thursday night at an airport in Shanghai to "assist probes mostly on his personal affairs," said Guo's investment conglomerate Fosun International during the weekend.
Shares of Fosun International and its controlled companies were suspended in Hong Kong and mainland on Friday after it was confirmed Guo as helping a judiciary investigation.
Fosun would consider buying back stock if the share price fluctuated too much, Chief Executive Officer Liang Xinjun said last week.
"Fosun has developed a clearer idea of the meaning of its existence," Guo said during his speech at the meeting after receiving a wave of applause lasting for two minutes.
"We will continue to implement the strategy of 'integrating Chinese growth with global resources based on dual drivers of insurance and investment'... Besides, we want to create more value for the society by better serving social clients on core issues of wealth, happiness and health," Guo said.
The conference was themed "thriving".
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