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​Wolves owner Fosun record profits in 2019

Wolves owner Fosun enjoyed an excellent 2019 in terms of the group's financials.

The Chinese group that owns the Premier League club saw up 31 per cent to £16.2 billion.

There was also a profit rise of 10 per cent at a record £1.69bn.

It is the eighth straight year that Fosun has shown an increase in profits since it was founded in 1992.

Fosun Pharma is involved in a lot of medical and pharmaceutical research.

The COVID-19 outbreak has likely strengthened its position as a leading business in its field.

Chairman Guo Guangchang said: "Over the past decade, Fosun carried out a number of expansions and explorations in different regions, investment areas and industries.

"Now, we will enter into a new phase of development, which is the optimisation of our asset allocation and focusing on core industries, in order to establish Fosun as the top-notch enterprise that achieves industry-leading positions in all of our core businesses."

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Ansser Sadiq

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