Fullshare Holdings

What Fullshare Holdings does

Fullshare Holdings Limited (丰盛控股有限公司, HKSE: 00607.HK) is a Hong Kong-listed Chinese conglomerate founded in 2002 and headquartered in Nanjing, with offices in Hong Kong, Singapore, and Australia. It operates four reported business segments — tourism, education & healthcare, property, and renewable energy — alongside an investment and financial services arm. The group's revenue is generated through property sales (residential and commercial, including the 500,000 sqm Yuhua Living Room campus in Nanjing Software Valley and Grade-A office GSH Plaza in Singapore), renewable energy and industrial transmission equipment manufacturing via its majority-owned subsidiary China High Speed Transmission Equipment Group (658.HK), hospitality operations (including the Grand Wuji Hotel), early childhood education through 28 Sparrow Early Learning centers in Queensland and Victoria (Australia), and healthcare distribution plus the 'Fullshare Top' (丰盛榜) O2O platform. The renewable energy and industrial transmission segment is the technological anchor of the group: China High Speed Transmission has held the #1 global market share in wind power gear transmission equipment for nine consecutive years and was ranked #65 in the 2021 Global Top 500 New Energy Companies list. Additional revenue streams include medical equipment distribution (CT, MRI via Shenzhen Anke), medical skincare (Medicskin), a direct-sales health products platform (Tianjin Bailesi), and securities/asset-management operations acquired through BaoQiao Partners Capital in 2016.

The go-to-market model is a hybrid of direct field sales to enterprise buyers (wind turbine OEMs, industrial equipment customers, hospital procurement) and consumer-facing channels (hotel/resort operations, childcare centers, O2O health platform, property sales offices). Distribution is supported by strategic channel partnerships including Bank of Communications (RMB 5 billion credit facility to subsidiary Nanjing Drive), Shanghai Joyu Culture Communication (cultural tourism joint development), and F.C. Internazionale Milano (sports-education partnership). Customer segments are deliberately diversified — individual homebuyers, industrial equipment buyers, families seeking childcare, hospitality guests, and healthcare consumers — making the group more accurately characterized as a holding company with operating subsidiaries than a single-product business.

Ownership is concentrated: controlling shareholder and Chairman/Co-CEO Mr. Ji Changqun holds approximately 51.35% through entities including Glorious Time Holdings Limited. The company has undergone a major M&A-led transformation since 2016, absorbing China High Speed Transmission (December 2016), Sparrow Early Learning (December 2016), GSH Plaza (July 2017), and a constellation of minority strategic stakes, while terminating a planned AU$80 million Australian land acquisition in August 2017 after the Australian Foreign Investment Review Board imposed unfavorable conditions.

Name

Fullshare Holdings

Legal name

Fullshare Holdings Limited

Website

https://fullshare.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Fullshare Holdings is a Hong Kong-listed Chinese conglomerate (HKSE: 00607.HK) operating across tourism, education and healthcare, property, and renewable energy, anchored by majority-owned China High Speed Transmission — the world's #1 wind gearbox maker — and a portfolio of subsidiaries spanning Australian childcare, Singaporean commercial property, and Chinese real estate.

Ownership category

akta.pro rank

Product category

Diversified Conglomerate

NAICS

Activities Related to Real Estate (5313), Other Activities Related to Real Estate (531390)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Full-Service Vacation Rental Property Management (BPAJAIAA)

Keywords

• Diversified conglomerate
• Wind power gearboxes
• Property development
• Healthcare education
• Tourism hospitality

Headquarters

HQ city

Central

HQ country

Hong Kong SAR China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Property Development & Sales: Residential and commercial property sales across China (Nanjing, Tianjin, Lianyungang, Yancheng) providing strong cash flow. Revenue is one-time transactional with project-based cycles. 2016 revenue: ~RMB2.89 billion with 26% gross margin.
2. Renewable Energy (New Energy Equipment Manufacturing): Revenue from wind power gear transmission equipment, industrial gear transmission equipment, and marine gear transmission equipment via subsidiary China High Speed Transmission Equipment Group (658.HK). 2016 revenue: ~RMB916.1 million (one month consolidated).
3. Healthcare Products & Services: Medical equipment distribution (CT, MRI systems via Shenzhen Anke), medical skincare services (Medicskin), direct sales of health products (via Tianjin Bailesi platform), and O2O health platform services. 2016 revenue: RMB362.5 million.
4. Tourism & Hospitality: Revenue from hotel operations (Sheraton Mirage, Laguna in Australia, GSH Plaza in Singapore), resort management, and tourism project development. 2016 tourism revenue: ~RMB134.3 million. Additional revenue from travel and tourism investments.
5. Investment & Financial Services: Income from equity investments in listed and unlisted companies, financial advisory services (via licensed subsidiaries), asset management, and strategic portfolio holdings across healthcare, green building, and other sectors.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Fullshare Holdings is a multinational conglomerate operating four business segments — tourism, education and healthcare, renewable energy, and property — providing healthy living services, real estate development, wind power transmission equipment, childcare, and resort hospitality across China, Hong Kong, Singapore, and Australia. Its main revenue-generating activities include residential and commercial property sales, wind power gear transmission equipment manufacturing through China High Speed Transmission Equipment Group, early childhood education through Sparrow Early Learning, and tourism resort operations.

Product overview

Fullshare Holdings Limited (HKSE: 00607.HK) is a multinational conglomerate and investment company founded in 2002 and listed on the Hong Kong Stock Exchange in December 2013. Headquartered in Nanjing, China with offices in Hong Kong, Singapore, and Australia, the company operates four main business segments: Tourism, Education & Healthcare, Renewable Energy, and Property. The company provides healthy living services through various brands including Sparrow Early Learning for childcare, China High Speed Transmission for wind power equipment, commercial and residential property developments under Wonder City and Yuhua Living Room brands, and holds commercial property assets like GSH Plaza in Singapore.

Differentiator

Problem solved

Functional benefit

Brands

• Fullshare Top (丰盛榜): O2O platform connecting online and offline healthcare resources
• Wonder City (虹悦城)
• Yuhua Salon (雨花客厅)
• Grand Wuji Hotel (五季凯悦臻选)
• Sparrow Early Learning

Products and services

• Tourism and Hospitality Services Resort operations, hotel management, and leisure travel services concentrated in Australia (Sheraton Mirage, Laguna) and Singapore (GSH Plaza area), serving leisure travelers, event guests, and middle-class tourism consumers.
• Education and Healthcare Services Childcare services through Sparrow Early Learning in Australia (28 centres in Queensland and Victoria for children aged 6 months to 6 years), medical equipment distribution (CT and MRI systems via Shenzhen Anke), medical skincare services via Medicskin, direct sales of health products via Tianjin Bailesi, and the Fullshare Top O2O health platform.
• Wind Power and Industrial Gear Transmission Equipment Manufactured by subsidiary China High Speed Transmission Equipment Group (658.HK), supplying high-speed heavy-duty gearboxes for wind power, industrial, marine, and rail applications. Holds world #1 market share in wind gearboxes for 9 consecutive years.
• Property Development Healthy living real estate development including residential and commercial complexes in China (Nanjing, Tianjin, Lianyungang, Yancheng) such as Wonder City, Yuhua Living Room and the Grand Wuji Hotel, plus commercial property holdings including GSH Plaza in Singapore.
• Sparrow Early Learning Childcare Services Australia-based early childhood education and care services operating 28 childcare centres across Queensland and Victoria, serving children aged six months to six years old. Includes Inter Academy Australia football programs.
• Medical Equipment Distribution Distribution of CT and MRI medical imaging systems to hospitals and healthcare facilities in China through subsidiary Shenzhen Anke (Anke Project), and medical skincare services via Medicskin centres in Hong Kong.
• Fullshare Top O2O Health Platform O2O (online-to-offline) platform that connects online and offline health resources, integrating health product distribution, medical services, and wellness lifestyle services across Fullshare's healthcare segment.
• Financial Advisory and Asset Management Services Licensed financial advisory and asset management services conducted through subsidiaries holding Type 1 (securities dealing), Type 4 (advising on securities), Type 6 (advising on corporate finance), and Type 9 (asset management) regulated activities under the SFO, plus a licensed money lender.

Quantifiable outcome

• Wind gearbox market share: World #1 for 9 consecutive years
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered minor and core.

• Brisbane Roar FC Community TeamminorStrategic or Co-development Partner · 26 June 2018Brisbane Roar FC Community Team partnered with Sparrow Early Learning and Inter Academy Australia to provide technical assistance and professional training resources for the football academy program in Queensland, Australia.
• F.C. Internazionale Milano S.p.A. (国际米兰足球俱乐部)coreGTM or Marketing Partner · 18 May 2018Fullshare Holdings and its subsidiary Sparrow Early Learning became Official Education Partner of FC Internazionale Milano. The partnership involves establishing Inter Academy Australia, the first Inter Milan football academy in Australia targeting children aged 3-15. Sparrow will deliver football classes, after-school programs, and holiday camps at its education centers in Queensland, partnering with Brisbane Roar FC Community Team for technical assistance. The partnership promotes sports education, healthy lifestyle for children, and Fullshare's brand presence in Australia.
• Shanghai Joyu Culture Communication Co., Ltd. (上海景域文化传播)coreStrategic or Co-development Partner · 27 September 2017Fullshare and Shanghai Joyu Culture Communication entered into a strategic cooperation agreement to jointly develop the cultural tourism and vacation market. Total planned investment is approximately RMB 5 billion with an initial investment of RMB 1 billion. The partnership will establish cultural tourism joint ventures with partners in various provinces and key cities in China to invest in tourism projects, smart tourism investments, and other tourism cooperation projects. Shanghai Joyu operates leading travel destinations and has internet channel resources and smart service capabilities through its subsidiaries including Lvmama Group.
• Sparrow Early Learning Pty LtdcoreStrategic or Co-development Partner · 31 July 2017Sparrow Early Learning, a subsidiary of Fullshare, acquired approximately 90% stake in Sparrow Early Learning. Sparrow operates 28 childcare centers across Queensland and Victoria, Australia, serving children from 6 months to 6 years old. The subsidiary continues to expand through additional acquisitions of long day care centers, deepening Fullshare's presence in the Australian early education market.
• GSH Corporation Limited (新加坡证券交易所: BDX)minorStrategic or Co-development Partner · 6 April 2017Fullshare acquired GSH Plaza, a Grade-A commercial building in Singapore's CBD (Raffles Place), from GSH Corporation Limited and its joint venture partners including TYJ Group and Vibrant DB2 (joint venture between Vibrant Group Limited and DB2 Properties). The acquisition totaled approximately S$365.5 million including equity and shareholder loan assignment, enhancing Fullshare's presence in Singapore, a key country in China's Belt and Road Initiative.
• iCarbonX Holding Limited (碳云控股 / ICX Holding)coreStrategic or Co-development Partner · 29 March 2017Fullshare Holdings and iCarbonX Holding (controlled by Mr. Wang Jun, founder of BGI) entered into a non-legally binding MOU to co-develop the healthcare market. The partnership leverages Fullshare's industrial operation experience and offline channels together with iCarbonX's expertise in life and health science, data analysis, and AI technologies. The ICX platform provides customized health analysis through genetic, biological, behavioral and psychological data, targeting precision beauty, nutrition, health and medical services.
• Nanjing Sinolife United Company Limited (中生联合, Stock: 3332.HK)minorStrategic or Co-development Partner · 12 December 2016Fullshare subscribed for 45,411,600 H shares of Sinolife United at HK$1.61 per share for a total consideration of HK$73.1 million. Upon completion, Fullshare held approximately 4.8% of Sinolife United's total enlarged share capital. Sinolife United is a leading manufacturer of nutritional supplements and health food products in China with a diversified sales network covering 27 cities in 13 provinces. Fullshare and Sinolife will jointly explore investment opportunities in premium health product manufacturers in Australia, New Zealand, and Singapore.
• C&D International Investment Group Limited (建发国际, Stock: 1908.HK)minorStrategic or Co-development Partner · 12 December 2016Fullshare subscribed for 40,000,000 new shares of C&D International at HK$3.97 per share for a total consideration of HK$158.8 million. Upon completion, Fullshare held approximately 9.35% of C&D's enlarged share capital. C&D's businesses in property development, operation, management, and advisory services can generate synergies with Fullshare's existing property development and green building service segments.
• China Saite Group Company Limited (中国赛特, Stock: 153.HK)minorStrategic or Co-development Partner · 12 December 2016Fullshare subscribed for 203,800,000 new shares of China Saite at HK$0.52 per share for a total consideration of HK$106 million, acquiring approximately 9.09% of China Saite's enlarged share capital. China Saite provides integrated steel structure and prefabricated component construction solutions for property projects. The investment supports Fullshare's green construction objectives and creates synergies with its property development business.
• Medicskin Holdings Limited (密迪斯肌控股有限公司, Stock: 8307.HK)minorStrategic or Co-development Partner · 30 September 2016Fullshare subscribed for 80,000,000 new shares of Medicskin at HK$0.648 per share for a total consideration of HK$51.84 million. Upon completion, Fullshare held approximately 16.67% of Medicskin. Medicskin operates two medical skincare centers in Hong Kong offering one-stop skincare solutions for skin disease treatment and aesthetic improvement. The investment supports Fullshare's medical anti-aging and beauty business development in Chinese and international markets.
• China High Speed Transmission Equipment Group Co., Ltd. (中国高速传动设备集团有限公司, Stock: 658.HK)coreStrategic or Co-development Partner · 15 September 2016Fullshare acquired over 90% of China High Speed Transmission Equipment Group through a share exchange offer (5 new Fullshare shares for every 2 CHSTE shares), acquiring approximately 79.86% of CHSTE's voting rights by December 2016. CHSTE is a leading supplier of wind power and industrial transmission equipment in China and overseas, officially entering the environmental equipment and renewable energy sector. The acquisition is a major milestone in Fullshare's grand healthcare business development.
• Jiangsu Eastide Group (江苏一德集团有限公司)minorStrategic or Co-development Partner · 5 August 2016Fullshare's subsidiary Nanjing Fullshare Technology entered into a joint venture with Jiangsu Eastide Group and Zhong Bang Jin Kan to develop and operate properties for cultural, tourism, and elderly care. Fullshare contributed RMB 900 million for a 45% stake in the JV (registered capital RMB 2 billion). Jiangsu Eastide is responsible for the JV's daily operations and is engaged in industrial investment, system software development, and construction.
• Tianjin Bailesi Biotech Development Co., Ltd. (天津百乐思生物科技发展有限公司)minorStrategic or Co-development Partner · 28 July 2016Fullshare subsidiary Guangzhou Fullshare Health Management invested RMB 42.5 million in Tianjin Bailesi together with Zhongyuan Union (600645.SSE), each holding 35%. Tianjin Bailesi operates a direct sales platform for health products and services using an 'Internet + Direct Sales' model, with gene testing and cell intervention repair products as key offerings. The investment enriched Fullshare's healthcare sector and supported its O2O platform development.
• Zhongyuan Union Cell & Gene Engineering Corporation (中源协和细胞基因工程股份有限公司, Stock: 600645.SSE)minorStrategic or Co-development Partner · 28 July 2016Zhongyuan Union co-invested RMB 42.5 million in Tianjin Bailesi with Fullshare (35% each). Zhongyuan Union is the only Shanghai Stock Exchange listed company in China with stem cell industry as its principal business, engaged in cell and gene engineering. The partnership brought co-investment synergies and strategic alignment in the healthcare sector.
• BaoQiao Partners Capital Limited (宝桥融资有限公司)minorImplementation/ SI/ Consulting Partner · 22 July 2016Fullshare acquired financial advisory and asset management business through its wholly-owned subsidiary for HK$140 million total consideration (HK$126 million in cash + shares to BaoQiao, HK$14 million cash to Ms. Lin Wai Yan). Upon completion, Fullshare indirectly owned licensed companies to conduct Type 1 (securities dealing), Type 4 (advising on securities), Type 6 (advising on corporate finance), and Type 9 (asset management) regulated activities under the SFO, plus a licensed money lender.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• G8 Education Limited: G8 Education (GEM.AX) is one of Australia's largest listed childcare and early education operators. Direct comparable to Fullshare's Sparrow Early Learning subsidiary (28 centers), providing a market benchmark for valuing the Australian childcare business within the conglomerate.
• Fosun International Limited: Fosun International (0656.HK) is a Chinese conglomerate with structurally similar 'Health, Happiness, and Wealth' segments covering healthcare, tourism/hospitality, and property/insurance. It provides the closest comparable business model to Fullshare's diversified healthy living ecosystem and offers a benchmark for how Chinese conglomerates with global ambitions are valued.
• Affinity Education Group Limited: Affinity Education Group is a major Australian childcare operator. Sparrow Early Learning's CEO John Bairstow was previously CFO of Affinity, indicating direct operational comparability between the two childcare platforms and useful for assessing Sparrow's growth potential.

Broad incumbents

• Greenland Holdings Corporation: Greenland Holdings is a major Chinese state-owned conglomerate with diversified operations spanning real estate, infrastructure, finance, and consumer goods. Comparable to Fullshare as a diversified Chinese conglomerate with significant property development operations.
• China Vanke Co., Ltd. China Vanke (000002.SZ / 2202.HK) is one of China's largest residential and commercial property developers. While it operates in a much narrower segment than Fullshare, it serves as a key benchmark for the property development business that contributes the majority of Fullshare's revenue.
• China Resources Land Limited: China Resources Land (1109.HK) is a leading Chinese property developer and investment holding company. Comparable to Fullshare in property development scope and benchmark for valuation purposes, particularly for the property segment that contributes the majority of Fullshare's revenue.
• Sino-Ocean Group Limited: Sino-Ocean Group (3377.HK) is a Chinese property developer focused on mid-to-high-end residential and commercial real estate. Comparable to Fullshare's property segment in tier-1 and tier-2 Chinese cities and provides additional benchmarking for the property development business.
• Hopson Development Holdings Limited: Hopson Development (0754.HK) is a Hong Kong-listed Chinese property developer with operations in tier-1 and tier-2 cities. Comparable to Fullshare's property business in scale and geographic focus, providing a benchmark for the segment that drives majority of Fullshare's revenue.

Emerging players

• Goldwind Science & Technology Co., Ltd. Goldwind (002202.SZ / 2208.HK) is China's largest wind turbine manufacturer and a key customer for China High Speed Transmission's wind gearboxes. While positioned downstream in the wind value chain, it provides critical context for evaluating the demand environment facing Fullshare's CHSTE subsidiary.
• Bright Horizons Family Solutions Inc. Bright Horizons (BFAM) is a leading US-based provider of high-quality childcare and early education services. While geographically separate, it serves as a global benchmark for premium childcare center operations, providing useful valuation reference for Sparrow Early Learning's potential.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fullshare Holdings