China Resources Beverage Plans Hong Kong IPO to Raise $1 Billion in October 2024, Parent Group is China Conglomerate China Resources
25th September 2024 | Hong Kong
China Resources Beverage is planning for a Hong Kong IPO to raise $1 billion in October 2024. China Resources Beverage parent group is China conglomerate China Resources. 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 enterprise. In 1953, China Resources became the general trading agency for China’s import-export companies in Hong Kong. During the period when Hong Kong’s trade volume took up one-third of total foreign trade volume in China, the company’s primary role was to arrange exports and guarantee a stable supply to Hong Kong as well as import essential supplies to mainland China. In 1983, China Resources (Holdings) Co., Ltd. (“CR” or “the group”) was established, gradually transforming from an integrated trading company to a diversified and industry-oriented holding enterprise in order to fit into the reform plans of the foreign trade ecosystem. Since 2000, CR has built up to its current business pattern and scale. Under China Resources Group there are six key business areas, including consumer products, integrated energy, urban construction and operation, healthcare, industrial finance, technology and emerging sectors, 25 profit centers, two direct affiliates, about 3,077 business entities, and 390,000 employees. China Resources Group ranks 72nd in Fortune Global 500 2024. In Hong Kong, there are eight listed companies under CR. CR Land,CR Beer and CR Mixc Lifestyle are all HSI constituents.
“ China Resources Beverage Plans Hong Kong IPO to Raise $1 Billion in October 2024, Parent Group is China Conglomerate China Resources “
China Resources Beverage Plans Hong Kong IPO to Raise $1 Billion in October 2024, Parent Group is China Conglomerate China Resources
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