Guo Guangchang, once known as the "Chinese Buffett" with unparalleled glory, has taken a serious fall this time.

Hong Kong-listed Fosun International issued a performance forecast, expecting a massive loss of 21.5 to 23.5 billion yuan in 2025.
This is not only its largest loss since listing but also nearly five times the loss in 2024.
As soon as the news broke, ridicule erupted online.
Some believe that value investing won't work in A-shares, even joking that the real Buffett would also suffer greatly if he came here.
However, should A-shares and value investing really take the blame for Fosun's massive loss?
The truth is not so.
Over 90% of Fosun's huge loss of more than 20 billion yuan this time stems from one-time asset impairment, a belated value settlement for failed investments over the past decade or more.
Overseas Defeat: The Bought "Global Empire" Reduced to a Bag-Holding Game
The reason Guo Guangchang is called the "Chinese Buffett" lies in his mastery of Buffett's specialty—using insurance companies' "float" to make investments.
By bottom-fishing multiple insurance companies in Europe and Hong Kong, Fosun has obtained hundreds of billions in long-term, low-cost funds.
However, after obtaining the funds, Guo Guangchang's approach was completely opposite to Buffett's.
Buffett's principle is to never touch areas he doesn't understand, isn't familiar with, or isn't confident in, and the vast majority of his investments stay within his familiar U.S. home market.
Guo Guangchang, on the other hand, under the banner of "leveraging China's momentum to connect global resources," launched a frenzied "buy buy buy" model worldwide.
In tourism, luxury goods, consumer goods, and technology, Fosun attacked on all fronts.
However,