Hengdian Group
{{short description|Chinese conglomerate}}
{{Infobox company
| name = Hengdian Group
| logo = Hengdian Group logo.svg
| logo_size =
| image = File:横店新拍作品.jpg
| image_caption = Hengdian Center No.136 Fuchun Road, Shangcheng District, Hangzhou, Zhejiang, China.
| type = Private{{cite web|url=https://www.middletownpress.com/news/article/Wesleyan-scraps-idea-of-opening-campus-in-China-14559921.php|title=Wesleyan scraps idea of opening campus in China |publisher=The Middletown Press|date=Oct 24, 2019|author=Liz Teitz}}
| genre =
| traded_as =
| native_name =
| predecessor =
| foundation = 1975
| founder = Xu Wenrong{{cite web|url=https://www.zaobao.com.sg/realtime/china/story20180115-827119|title=The New Yuanming Garden will be fully opened to the public in July 2019|publisher=Lianhe Zaobao|date=2018-01-15|author=}}
| location_city =
| location_country =
| location = Hengdian, Zhejiang{{cite web|url=https://www.npr.org/2020/02/29/810334985/as-new-coronavirus-cases-slow-in-china-factories-start-reopening|title=As New Coronavirus Cases Slow In China, Factories Start Reopening|publisher=National Public Radio|date=February 29, 2020|author=Emily Feng}}
| origins =
| key_people = Xu Wenrong (Founder)
Xu Yongan (Chairman{{cite web|url=https://variety.com/2004/film/markets-festivals/wb-gets-china-foothold-1117911958/|title=WB gets China foothold|publisher=Variety|date=Oct 13, 2004|author=Don Groves}} & President{{cite web|url=https://cen.acs.org/articles/82/i4/Hengdian-Group-Big-Fish-Small.html|title=Hengdian Group: A Big Fish In A Small Town|publisher=Chemical & Engineering News|date=January 26, 2004|author=}})
| area_served =
| industry = Film, electronic, pharmaceutical
| products =
| services =
| assets =
| revenue = {{increase}} CNY88.6 billion{{cite web|url=https://www.thepaper.cn/newsDetail_forward_22217573|title=Hengdian Group's revenue will exceed 88.6 billion yuan in 2022|website=thepaper.cn|date=2023-03-10}}
| revenue_year = 2022
| net_income =
| num_employees = over 50,000 (2017){{cite web|url=https://www.scmp.com/magazines/post-magazine/long-reads/article/2073419/behind-scenes-hollywood-china|title=Behind the scenes in the 'Hollywood' of China|publisher=South China Morning Post|date=Feb 25, 2017|author=Zigor Aldama}}
| parent =
| divisions =
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| homepage = {{URL|www.hengdian.com}}
}}
Hengdian Group ({{lang-zh||s=横店集团}}{{cite web|url=https://cn.nytimes.com/china/20181204/china-films-movies-hengdian/dual/|title=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)|work=The New York Times|date=2018-12-04|author=Steven Lee Myers}}), abbreviated as HG,{{cite book|author1=Riccardo Crescenzi|author2=Marco Percoco|title=Geography, Institutions and Regional Economic Performance|url=https://books.google.com/books?id=cko3IoawweoC&pg=PA411|date=13 December 2012|publisher=Springer|isbn=978-3-642-33395-8|pages=411–}} is a Chinese private conglomerate founded by Xu Wenrong{{cite book|author=Keming Yang|title=Entrepreneurship in China|url=https://books.google.com/books?id=p5UWDAAAQBAJ&pg=PA177|date=29 April 2016|publisher=Routledge|isbn=978-1-317-14257-7|pages=177–}} in 1975 in Hengdian, Zhejiang.{{cite web|url=https://www.newyorker.com/magazine/2013/04/22/studio-city|title=Studio City|publisher=The New Yorker|date=April 15, 2013|author=Ian Johnson}} It focuses on the fields of electrical and electronic,{{cite book|author1=Christina Lubinski|author2=Jeffrey Fear|author3=Paloma Fernández Pérez|title=Family Multinationals: Entrepreneurship, Governance, and Pathways to Internationalization|url=https://books.google.com/books?id=_pR_4jOgUG4C&pg=PA107|date=18 July 2013|publisher=Routledge|isbn=978-1-135-04493-0|pages=107–}} pharmaceutical and chemical,{{cite web|url=https://cen.acs.org/articles/85/i11/China-Strides-Toward-Global-Pharma.html|title=China Strides Toward Global Pharma Role|publisher=Chemical & Engineering News|date=March 12, 2007|author=Jean-François Tremblay}} film and entertainment,{{cite web|url=https://variety.com/2003/film/news/hengdian-will-play-host-for-kid-film-fest-1117894878/|title=Hengdian will play host for kid film fest|publisher=Variety|date=Nov 2, 2003|author=Arthur Jones}} and modern services.{{cite web|url= https://enapp.chinadaily.com.cn/a/202110/28/AP617a7af8a310b7d50bab5d45.html |title=Hengdian Group seeks to diversify development|publisher=Chinadaily|date=2021-10-28|author=Ma Zhenhuan}} Since 1996,{{cite web|url=https://www.hollywoodreporter.com/news/essential-international-studios-321594|title=Essential International Studios|publisher=The Hollywood Reporter|date=May 8, 2012|author=}} Hengdian Group has operated Hengdian World Studios,{{cite web|url=https://www.hollywoodreporter.com/news/chinese-regulators-approve-arabian-nights-562234|title=Chinese Regulators Approve 'Arabian Nights' for U.S.-China Co-Production|publisher=The Hollywood Reporter|date=June 4, 2013|author=Clarence Tsui}} one of the largest film studios in the world.
History
In 1975, Xu Wenrong set up Hengdian Reeling Silk Factory,{{cite book|author1=Zhi-Xue Zhang|author2=Jianjun Zhang|title=Understanding Chinese Firms from Multiple Perspectives|url=https://books.google.com/books?id=Z6EqBAAAQBAJ&pg=PA97|date=19 June 2014|publisher=Routledge|isbn=978-3-642-54417-0|pages=97–}} 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.{{cite book|author=Li Shiqiao|title=Understanding the Chinese City|url=https://books.google.com/books?id=DKyHAwAAQBAJ&pg=PA50|date=1 April 2014|publisher=SAGE Publications|isbn=978-1-4739-0540-5|pages=50–}}
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.
In 2004, Hengdian Group, Warner Bros. and China Film Group Corporation{{cite web|url=https://www.foxnews.com/wires/2008Sep10/0,4670,FilmFoxAsianStudio,00.html|title=Twentieth Century Fox opens Asian studio|publisher=Fox News|date=September 10, 2008|author=Min Lee}} established a joint venture{{cite web|url=https://dealbook.nytimes.com/2009/09/30/fox-invests-in-1st-chinese-film-a-romantic-comedy/|title=Fox Invests in First Chinese Film|work=The New York Times|date=Sep 30, 2009|author=}} called Warner China Film HG.{{cite web|url=https://www.latimes.com/archives/la-xpm-2006-may-15-fi-chinawood15-story.html|title=Chinese Villagers Trade Plowshares for Film Scripts|work=Los Angeles Times|date=May 15, 2006|author=Don Lee}} In 2008, it established the Zhejiang Hengdian Film Production Company.{{cite book|author=Ruoyun Bai|title=Staging Corruption: Chinese Television and Politics|url=https://books.google.com/books?id=beVABAAAQBAJ&pg=PA47|date=19 September 2014|publisher=UBC Press|isbn=978-0-7748-2634-1|pages=47–}}
Hengdian Group also expanded into the lighting field in late 1990s，covering light-emitting diode fixtures, lighting sources, smart lighting and automotive lighting.
In 2017, Tospo Lighting Co., Ltd., a subsidiary of Hengdian Group, completed an IPO on the Shanghai Stock Exchange.{{cite web|url=https://www.marketscreener.com/quote/stock/HENGDIAN-GROUP-TOSPO-LIGH-42613212/news/Hengdian-Group-Tospo-Lighting-Co-Ltd-has-completed-an-IPO-in-the-amount-of-CNY-1-1178-billion-35157371/|title=Hengdian Group Tospo Lighting Co., Ltd. has completed an IPO in the amount of CNY 1.1178 billion.|website=marketscreener.com|date=March 22, 2017|author=Sun Chuanting}}
In August 2019, Nanhua Futures, a subsidiary of Hengdian Group, was listed on the Shanghai Stock Exchange.{{cite web|url=https://www.dwnews.com/%E7%BB%8F%E6%B5%8E/60147387/A%E8%82%A1%E6%9C%9F%E8%B4%A7%E7%AC%AC%E4%B8%80%E8%82%A1%E5%8D%97%E5%8D%8E%E6%9C%9F%E8%B4%A7%E4%B8%8A%E5%B8%82%E9%A6%96%E6%97%A5%E6%B6%A844%E6%80%BB%E5%B8%82%E5%80%BC%E8%B6%8540%E4%BA%BF%E5%85%83|title=Nanhua Futures officially landed on the Shanghai Stock Exchange|publisher=Duowei News|date=2019-08-30|author=Sun Chuanting}}
In December 2021, Hengdian DMEGC, a public subsidiary of Hengdian Group,{{cite web|url=https://www.cnbc.com/2023/01/06/tesla-suppliers-jump-as-ev-maker-cuts-prices-for-some-models-in-china.html|title=Tesla suppliers' shares jump as electric automaker cuts prices for some models in China|publisher=CNBC|date=January 6, 2023}}
planned to form a joint venture with Japan's Foster Electric Co. in Vietnam for the manufacturing of ferrite magnets.{{cite web|url=https://www.nippon.com/en/news/kd777761656199315456/|title=Japan's Foster Electric to open speaker material plant in Vietnam|website=nippon.com|date=January 16, 2021}}
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).
In March 2022, Apeloa Pharmaceutical Co., a public subsidiary of Hengdian Group,{{cite web|url=https://www.chinadaily.com.cn/a/202110/28/WS617a7af6a310cdd39bc71ecd.html|title=Hengdian Group seeks to diversify development|publisher=chinadaily|date=2021-10-28}}
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.{{cite web|url=https://edition.cnn.com/2023/01/13/china/china-covid-antiviral-drug-shortage-intl-hnk-mic/index.html|title=Frustration is rising over Covid drug shortages in China, and there are no easy answers|publisher=CNN}}
In July 2022, Hengdian Entertainment, one of the listed companies of Hengdian group, offered RMB 3 billion ($446 million) to acquire Shanghai Xingyi Cinema Managements.{{cite web|url=https://variety.com/2022/biz/asia/china-hengdian-cinema-deal-1235314337/|title=China's Hengdian Proposes $450 Million Cinema Consolidation Deal|publisher=variety|date=Jul 12, 2022}}
Business areas
=Electrical and Electronic=
=Pharmaceutical and Healthcare=
·Apeloa Pharmaceutical{{cite web|url=https://global.chinadaily.com.cn/a/202110/28/WS617a7af6a310cdd39bc71ecd.html|title=Hengdian Group seeks to diversify development|publisher=chinadaily}}
Apeloa Pharmaceutical, founded in 1989, is a healthcare company that manufactures and markets raw material medicines and preparations, including antitumour, antivirus, anti-infectious, cardiovascular and other medicines.{{cite web|url=http://www.bloomberg.com/profile/company/000739:CH|title=Apeloa Pharmaceutical Co Ltd|publisher=bloomberg}} It specialises in API, CDMO and Finished Dosage Form (FDF). The company is a subsidiary of Hengdian Group and is listed on the main board of the Shenzhen Stock Exchange (SZSE: 000739).
=Film and Entertainment=
·Hengdian Entertainment {{cite web|url=https://variety.com/2022/biz/asia/china-hengdian-cinema-deal-1235314337/|title=China's Hengdian Proposes $450 Million Cinema Consolidation Deal|publisher=variety}}
Hengdian World Studios is a film studio located in Hengdian, a Chinese town in Zhejiang Province, and is one of the largest film studios in the world.{{Cite web |last=Lee |first=Maggie |date=2015-06-18 |title=Film Review: 'I Am Somebody' |url=https://variety.com/2015/film/asia/i-am-somebody-review-derek-yee-shanghai-film-festival-1201519295/ |access-date=2024-11-15 |website=Variety |language=en-US}} Its sets span over 2,500 acres - more than Paramount Studios and Universal put together - and have been used to film over a thousand Chinese TV shows and films, including Hero (2002 film) and Crouching Tiger, Hidden Dragon.{{Cite web |title=Is 'Chinawood' the new Hollywood? |url=https://www.bbc.com/culture/article/20140207-is-chinawood-the-new-hollywood |access-date=2024-11-15 |website=www.bbc.com |language=en-GB}}
=Modern Services=
·Nanhua Futures{{cite web |url=https://www.yicaiglobal.com/news/nanhua-gets-nod-to-become-first-chinese-mainland-listed-futures-firm|title=Nanhua Gets Nod to Become First Chinese Mainland-Listed Futures Firm|publisher=yicaiglobal}}
Nanhua, founded in 1996, is Hengdian Group's financial futures subsidiary. The company is principally engaged in futures brokerage, futures investment consulting, asset management and securities investment fund agency businesses. Its futures brokerage business includes commodity futures and financial futures. Its asset management business includes single customer asset management and specific multi-client asset management. Nanhua also conducts OTC derivatives business, basis trading and market making operations through its wholly-owned subsidiary Zhejiang Nanhua Capital Management Co., Ltd. and its subsidiaries.{{cite web |url=https://www.reuters.com/markets/companies/603093.SS/|title=Nanhua Futures Co Ltd|publisher=reuter}} It was listed on the Shanghai Stock Exchange (SSE: 603093) in 2019 and was the first futures company in China to so do.