This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: "Sunac" – news · newspapers · books · scholar · JSTOR (March 2012) (Learn how and when to remove this template message)
Parts of this article (those related to company card info) need to be updated. Please help update this article to reflect recent events or newly available information. (March 2017)
Sunac China Holdings Limited
融创中国控股有限公司
Typepublic
SEHK1918
IndustryReal estate
Founded2003
FounderSun Hongbin
Number of locations
  • Tianjin, China (general office)
  • Cayman Islands (registered office)
Area served
China
Key people
Sun Hongbin (Chairman)
Number of employees
24,105
Websitewww.sunac.com.cn

Sunac China Holdings Limited, or Sunac, is a major property developer headquartered in Tianjin, China. The company focuses on large-scale, medium to high-end property developments. It does not only focus on its home market of Tianjin, but also has operations in Beijing, Chongqing, Wuxi and other cities.[1]

In July 2017, Sunac reached a $9.3 billion deal to buy Dalian Wanda's tourism projects and hotels, forming the second-biggest real estate deal ever in China.[2]

History

Sunac was founded in 2003 in Tianjin by Sun Hongbin, previously the founder, chairman, and CEO of Sunco Group. It was listed on the Hong Kong stock exchange on 7 October 2010[3] with the IPO price of HK$3.48 per share.[4]

In March 2020, the company reported profits of $3.7 billion in 2019, an increase of 57% from the previous year.[5]

Acquisitions

In July 2017, Sunac acquired 13 tourism projects from Dalian Wanda for US$6.6 billion[6] The company also acquired a stake in Chinese streaming service le.com in 2017.

References

  1. ^ Sunac China Holdings Ltd (1918.HK)
  2. ^ "Sunac China's shares soar as $9.3 billion Wanda property deal seen as positive". Reuters. Retrieved 2017-07-14.
  3. ^ "SUNAC CHINA HOLDINGS LTD. (1918)". Hong Kong Exchanges and Clearing. Retrieved 17 April 2019.
  4. ^ Wills, Ken, ed. (30 September 2010). "Sunac raises $337 million on HK IPO". Reuters. Hong Kong. Retrieved 17 April 2019.
  5. ^ "Sunac China Defies Downturn, Reports 57% Leap in Profit for 2019". Mingtiandi. 2020-03-27. Retrieved 2020-10-08.
  6. ^ Ho, Jane (2017-11-15). "China's Richest 2017: Property Developers Have A Banner Year". Forbes Asia. Retrieved 2018-10-02.