China Resources (Holdings) Co., Ltd. (“CR” or “China Resources Group”) is a diversified holding company registered in Hong Kong. CR was first established as “Liow & Co.” in Hong Kong in 1938, and was later restructured and renamed as China Resources Company in 1948. In 1952, instead of being affiliated to the General Office of the CPC Central Committee, it came under the Central Trade Department (now known as the Ministry of Commerce). In 1983, it was again restructured into China Resources (Holdings) Co., Ltd. In December 1999, CR was no longer linked to the Ministry of Foreign Trade and Economic Cooperation, and came under state management. In 2003, under the direct supervision of SASAC, it became one of the key state-owned enterprises.
In 1983, all affiliates under CR were restructured and were linked to CR through equity holdings. On that basis, China Resources (Holdings) Co., Ltd. was formed. Since then, CR’s business has transformed from a sole trading agency into self-operated businesses. Driven by a series of industrial investments, the company has gradually developed into an influential, industrial-focused enterprise group in Hong Kong and mainland China.
Under China Resources Group there are five business areas, including consumer products, healthcare, energy services, urban construction and operation, technology and finance, seven key strategic business units, 19 grade-1 profit centers, about 2,000 business entities, and more than 420,000 employees.In Hong Kong, there are seven listed companies under CR, and CR Land is a HSI constituent.CR Gas and CR Cement are constituent stocks of both Hong Kong’s Hang Seng Composite Index and Hang Seng China-Affiliated Corporations Index. On October 28, 2016, China Resources Pharmaceutical Group Limited (3320HK) was officially listed on the Hong Kong Stock Exchange. China Resources Group is one of the Fortune Global 500 enterprises, ranking 86 in 2018.
In 2018, the Group achieved a turnover of RMB 608.5 billion, a profit of RMB 66.1 billion and a net profit of RMB 45.1 billion. The total assets at the end of 2018 stood at RMB 1439.4 billion. The Group’s core businesses include consumer products (including retail, beer, food and beverages), power, real estate, cement, gas, pharmaceuticals and finance. CR’s diversified businesses are built on a solid industrial foundation and market competitiveness, among which, its retail, beer, power, real estate, gas, and pharmaceutical businesses are industry leaders within their fields.
Since the advent of the 21th century, CR has been striving to capture the historical opportunities arising from China’s economic takeoff, and has maintained rapid growth for more than a decade, effectively achieving its grand strategy vision of “Recreating CR”for a second time. CR has built a strong industrial foundation, and significantly increased its overall competitive strength. The enterprise has entered a new phase of development.
In future, China Resources Group will continue to excel at this new starting point, achieving better performance in order to generate stable returns to shareholders and contribute to society.