Football/Investment
2018: No.1 - £4.0bn
2017: No.1 - £4.2bn
It's been nearly 18 months since Fosun International Group took over at . And already there have been three managers, more than 20 new signings and another 20-plus players shown the door.
But the changes and transfer turbulence may have paid off, with Wolves having a good league-topping start to the season and high hopes of being the first of the Midlands Championship clubs to get back into the Premier League.
Wolves also reported a return to profit of last season, making £5.8 million despite a growing wage bill and the continuous improvement in club facilities at the Compton Park training ground.
Fosun International, of which Guo Guangchang is chairman, is a diversified Chinese company involved in healthcare, fashion, tourism and property. The company took over from Steve Morgan in July 2016 in a £30 million deal. He bought the club from the late Sir Jack Hayward for £10.
Steve Morgan invested heavily in the club, with new stands and facilities as well as community and youth facilities, and left it in good financial shape.
Financial affairs back in China have not gone so smoothly for Fosun, with the company's shares taking a roller coaster ride. £700 million was wiped off the share value in a single trading session on rumours that China's banking regulator was planning to investigate overseas loans to several companies.
Guo Guanchang has a 65 per cent share and runs the Fosun business, which has investment assets in the Europe including holiday companies and Club Med, nursery brand Silver Cross and entertainment group Cirque de Soleil. In June Fosun tried to buy Faberge owner Gemfields in a £256 million bid.
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After the Wolves takeover Fosun promised to invest between £20 million and £30 million in the club.
But while the Chinese owners are certainly not short of cash, they have shown themselves to be short of patience. Kenny Jackett left within a week of Fosun's arrival. His replacement, Italian manager Walter Zenga was shown the door just 87 days into his managership after a run of defeats saw the team slide towards the relegation zone. Ex-Villa manager Paul Lambert was next to take the manager's seat, but poor results and Lambert's insistence on having the final say on transfers could only have one outcome. He was replaced by former Porto boss Nuno EspiritoSanto.
Fosun investment director Jeff Shi heads up the board at Wolves, representing Fosun chairman Guo Guanchang, 50.
Guo Guanchang, a devotee of Tai Chi, was born in a small farming village in 1967. He came from a poor family and his mother grew sweet potatoes to feed the family. He received a government bursary to attend Shanghai's renowned Fudan University where he studied philosophy.
When the Chinese government began to encourage business enterprise, he and four university friends set up their own company in 1992. It began by advising foreign companies trying to set up in the rapidly growing Chinese economy. The business grew into a huge conglomerate, becoming the biggest non-state owned enterprise in China. He is married to Shanghai television presenter Wang Jinyuan.
Fosun continues to be successful. Almost half of its income comes from large insurance businesses in China, the USA and Portugal. The business is expanding into Brazil, Russia and India.