Sunac
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]
| Type | public |
|---|---|
| SEHK: 1918 | |
| Industry | Real estate |
| Founded | 2003 |
| Founder | Sun Hongbin |
Number of locations |
|
Area served | China |
Key people | Sun Hongbin (Chairman) |
Number of employees | 24,105 |
| Website | www |
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
- Sunac China Holdings Ltd (1918.HK)
- "Sunac China's shares soar as $9.3 billion Wanda property deal seen as positive". Reuters. Retrieved 2017-07-14.
- "SUNAC CHINA HOLDINGS LTD. (1918)". Hong Kong Exchanges and Clearing. Retrieved 17 April 2019.
- Wills, Ken, ed. (30 September 2010). "Sunac raises $337 million on HK IPO". Reuters. Hong Kong. Retrieved 17 April 2019.
- "Sunac China Defies Downturn, Reports 57% Leap in Profit for 2019". Mingtiandi. 2020-03-27. Retrieved 2020-10-08.
- Ho, Jane (2017-11-15). "China's Richest 2017: Property Developers Have A Banner Year". Forbes Asia. Retrieved 2018-10-02.
