| Cedar Holdings Group | |
| Type: | Privately held company |
| Industry: | financial services, asset management, commodities[1] |
| Founders: | Zhang Jin |
| Hq Location City: | Guangzhou |
| Hq Location Country: | China |
| Area Served: | Worldwide |
| Key People: | Zhang Jing (CEO) |
| Num Employees: | 23,856[2] |
| Num Employees Year: | 2021 |
| Revenue: | US$33.8 billion |
| Revenue Year: | 2021 |
| S: | 雪松控股集团有限公司 |
| T: | 雪鬆控股集團有限公司 |
| P: | Xuěsōng Kònggǔ jítuán yǒuxiàn gōngsī |
| L: | Cedar Holdings Group Company Limited |
The Cedar Holdings Group (Chinese: link=no|s=雪松控股) is a Chinese holding company active in six business sectors:
Cedar also controls two A-share listed companies: Qixiang Tengda and Sinoer.[3] [4]
Cedar Holdings was founded in 1997. In 2019 it had assets of 221 billion yuan.[5] Headquartered in Guangzhou, it also has offices in Hong Kong, Singapore, Switzerland, Germany, France and the United States.[6]
In 2020, Cedar bought the British steel firm Stemcor for $150 million.[7] [8]
Cedar was ranked 359th in the Fortune Global 500 for 2021,[2] and on a list of China's top 500 Private Enterprises.[2] [9]
In February 2022 Cedar missed interest payments of 20 billion yuan (US$3.15 billion) owed to clients, casting doubt on the soundness of the business;[10] [11] The Nikkei described it as being built on a "shell game," reporting that "Most of the goods traded by Cedar did not belong to Cedar, a person with knowledge of the matter said. The goods in warehouses belonged to state companies that sold them to Cedar and then bought them back after multiple rounds of transactions […] All transactions took place only on paper as the ownership of goods changed hands […] The goods could be sold hundreds of times in days without leaving a warehouse, boosting sales figures for the companies involved."[12] [13]