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Hengxing Group
Founded in 1994 by Ke Xiping in Xiamen, Hengxing Group traces its wealth to a foundational bet on gold and copper mining. Ke was among the original promoters...
Hengxing Group
Founded in 1994 by Ke Xiping in Xiamen, Hengxing Group traces its wealth to a foundational bet on gold and copper mining. Ke was among the original promoters of Zijin Mining Group, a position that gave the family an enduring stake in a publicly traded company that grew into China's largest gold miner and a global copper force. Those mining-derived proceeds funded a sprawling domestic portfolio that now spans metallurgy, commercial trade, real estate development, private education, and tourism assets. The group's investment posture is concentrated in hard assets and operating businesses rather than fund commitments. Its portfolio includes the Xiamen Institute of Technology, a private university, and the Anxi Qingshuiyan Scenic Area, a cultural tourism site in Fujian province. Real estate holdings include residential developments across Nanchang, Jiangxi — branded projects such as International Huacheng, Hengmao Lakeside, and Future Metropolis — and a parcel of land in Queens, New York. The group also retains the Gold Mountain Mine and maintains ties to mining magnate Chen Fashu, a billionaire investor and occasional co-investor in ventures linked to Zijin's orbit. Ke maintains deep institutional ties in Fujian's business community, serving as Chairman of the Xiamen Association of Industry and Commerce and Vice Chairman of the Fujian Federation of Industry and Commerce. His son, Ke Jiaqi, holds stakes in the family's mining and investment entities, indicating a multigenerational transition is underway. Philanthropy is structured through the Ke Xiping Philanthropic Fund. No public AUM or total deployment figures are disclosed. Hengxing's architecture is that of a founder-anchored corporate investor — it does not function as a pure financial family office but rather as an operating group where capital allocation is inseparable from direct management of industrial and real estate assets. This structure, common among first-generation Chinese family enterprises, means investment decision-making is opaque to outside allocators and unlikely to resemble the LP/GP model familiar to Western institutional investors.
General information
Firm type
Single Family Office
Year founded
1994
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Xiamen
Corporate office
Xiamen, Fujian, China
Principals
Ke Xiping
Chairman
Chen Fashu
Business Partner
Ke Jiaqi
Family Member
Sector focus
Frequently asked questions
What is the origin of Hengxing Group's wealth?
The family's wealth originates from mining. Ke Xiping was one of the eight original promoters of Zijin Mining Group, a gold and copper miner that listed in Hong Kong and Shanghai. That early equity stake provided the capital base for Hengxing's expansion into real estate, education, and tourism. The group still holds mining assets, including the Gold Mountain Mine.
Does Hengxing Group invest in third-party funds or only direct deals?
Publicly available evidence suggests Hengxing operates almost entirely through direct ownership of operating businesses and real assets. There is no disclosed track record of third-party fund commitments or co-investments alongside external GPs. Its posture is that of a corporate operator rather than a limited partner.
How is the firm governed, and who makes investment decisions?
Ke Xiping, the founder, serves as Chairman and appears to be the central decision-maker. His son Ke Jiaqi holds stakes in key family entities, signaling a succession process. The group does not publicly disclose an investment committee or external advisory board, which is consistent with founder-led Chinese family holding companies.
What is Hengxing's relationship with Zijin Mining Group today?
Hengxing was a founding promoter of Zijin Mining, but the current ownership arrangement is not publicly detailed. The group's ongoing ties appear to be through legacy equity and business relationships — notably with billionaire investor Chen Fashu — rather than an active management role in Zijin's operations.
Does Hengxing Group have any international investments?
Its disclosed international footprint is minimal. Records show a land parcel at 39-02 Janet Place in Queens, New York. The rest of its known portfolio — real estate developments, the Xiamen Institute of Technology, the Anxi tourism site, and the Gold Mountain Mine — is concentrated in Fujian and Jiangxi provinces in China.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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