Cedar Holdings Group
Cedar Holdings Group is a Guangzhou-based Chinese holding company with interests spanning supply chains, chemicals, culture and tourism, community operations, financial services, and related businesses.
Last updated August 31, 2026
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Overview
Cedar Holdings Group, also known by the Chinese name Xuesong Holdings, is a Chinese diversified holding company headquartered in Guangzhou. It was founded in 1997 and developed into a multi-sector group organized around several business platforms rather than a single consumer-facing product brand. The group’s reported areas of activity include Gongtongyun Supply Chain Group, a Chemical Industry Group, Cedar Culture & Tourism Group, King vision Group, Community Ecological Operation Group, and a Financial Services Group. The company’s business model has included industrial and commodity-related operations, supply-chain activity, financial services, and investments in operating companies. Its corporate structure has also included control of two Chinese A-share listed companies, Qixiang Tengda and Sinoer. The group’s international footprint has extended beyond mainland China, with offices or operations reported in Hong Kong, Singapore, Switzerland, Germany, France, and the United States. Cedar expanded its international industrial exposure in 2020 by acquiring the British steel-trading firm Stemcor for a reported US$150 million. The transaction placed Cedar more visibly within the international metals and commodities sector and illustrated the group’s interest in cross-border industrial assets. Cedar was also listed at number 359 in the Fortune Global 500 ranking for 2021 and appeared among China’s largest private enterprises, reflecting the scale attributed to the group at that time. The company later faced serious concerns about its financial condition and trading practices. In February 2022, Cedar reportedly missed approximately 20 billion yuan in interest payments owed to clients. Coverage by Nikkei questioned the substance of some of the group’s commodity-trading activity, alleging that certain transactions may have involved repeated paper transfers of goods that remained in warehouses and were connected to state-owned counterparties. These reports cast doubt on the quality of reported trading volumes and on the group’s ability to meet obligations to investors and clients. Because the available reference material does not establish Cedar’s current ownership, operating status, financial position, leadership, or official website, the present-day condition of the group should be treated as uncertain. Its historical profile is that of a large Chinese private holding company that combined industrial, trading, investment, and service businesses, achieved substantial reported scale, pursued international acquisitions, and subsequently became associated with significant liquidity and governance concerns.
History
Cedar Holdings Group was established in China in 1997 and later developed into a diversified holding company headquartered in Guangzhou. Rather than operating solely under one consumer product category, the group assembled a portfolio of businesses and sector platforms covering supply-chain operations, chemicals, culture and tourism, community services, financial services, and other industrial or investment activities. The group’s reported domestic structure included Gongtongyun Supply Chain Group, Chemical Industry Group, Cedar Culture & Tourism Group, King vision Group, Community Ecological Operation Group, and Financial Services Group. This portfolio indicates a strategy based on combining operating businesses with trading, investment, and financial capabilities. Cedar also controlled Qixiang Tengda and Sinoer, two companies listed on Chinese A-share markets, giving the group exposure to public-company assets while retaining the structure of a private holding group. By 2019, Cedar was reported to have assets of 221 billion yuan. Its geographic footprint extended beyond Guangzhou and mainland China, with offices or operations reported in Hong Kong, Singapore, Switzerland, Germany, France, and the United States. The international network supported the group’s participation in cross-border trading and industrial businesses. Cedar’s international expansion became particularly visible in 2020, when it acquired Stemcor, a British steel firm, for a reported US$150 million. The purchase connected Cedar with a long-established steel-trading business and reinforced its exposure to metals and commodities. In 2021, Cedar was placed 359th in the Fortune Global 500 ranking and was also included in listings of China’s largest private enterprises. These recognitions reflected the scale attributed to the group during its expansion period. The group’s growth model later attracted significant scrutiny. In February 2022, Cedar reportedly failed to make interest payments totaling around 20 billion yuan to clients. The missed payments raised concerns about liquidity, the strength of the group’s financial arrangements, and the reliability of its broader business model. Nikkei reporting further questioned whether some of Cedar’s commodity transactions represented substantive movement and transfer of goods. According to the reporting summarized in reference material, certain goods may have remained in warehouses while ownership was repeatedly transferred on paper among counterparties, potentially inflating recorded sales or trading volumes. These reports became central to Cedar’s public narrative, shifting attention from its expansion and Fortune ranking to questions about governance, transparency, counterparties, and financial stability. The available material does not establish the group’s subsequent restructuring, ownership, leadership, or current operating condition. Accordingly, Cedar Holdings Group’s present status remains uncertain in this dossier.
- 2022
Reported interest-payment failure
[1]The group reportedly missed approximately 20 billion yuan in interest payments owed to clients.
- 2021
Included in the Fortune Global 500
[1]Cedar was reported at number 359 in the Fortune Global 500 ranking for 2021.
- 2020
Acquisition of Stemcor
[1]Cedar acquired British steel firm Stemcor for a reported US$150 million.
- 2019
Reported assets reach 221 billion yuan
[1]Reference material reported that Cedar Holdings had assets of 221 billion yuan in 2019.
- 1997
Cedar Holdings Group founded
[1]Cedar Holdings Group was established in China.
Products and positioning
A diversified Chinese private holding group combining industrial operations, commodity and supply-chain businesses, financial services, and sector-specific investment platforms.
Supply-chain and commodity services
Gongtongyun Supply Chain Group
A Cedar business platform associated with supply-chain activity and commodity-related operations. The available material does not provide a detailed catalog of services, customer segments, or operating subsidiaries.
Chemicals
Chemical Industry Group
The group’s chemical-industry platform, representing Cedar’s participation in chemical manufacturing or related businesses. Specific products and brands are not identified in the available reference material.
Culture and tourism
Cedar Culture & Tourism Group
A business platform focused on culture and tourism-related activities. The available sources do not specify particular destinations, attractions, hospitality assets, or consumer offerings.
Diversified business platform
King vision Group
One of the named business groups within Cedar Holdings. The supplied reference material does not describe its precise industry focus or individual products.
Community and ecological operations
Community Ecological Operation Group
A Cedar platform associated with community and ecological operations. Specific projects, services, and geographic coverage are not detailed in the available sources.
Financial services
Financial Services Group
Cedar’s financial-services platform, reflecting the group’s participation in financial or investment-related activities. The available material does not identify regulated entities or specific financial products.
Controversies
2022
Missed interest payments and questions about trading practices
In February 2022, Cedar reportedly missed interest payments of approximately 20 billion yuan owed to clients. Nikkei reporting also questioned whether some commodity transactions involved repeated paper transfers of goods that did not physically move, raising concerns about the quality of reported trading activity, financial soundness, and corporate transparency.
Brand decisions
2020
Acquire StemcorM&ABackground
Cedar pursued international expansion through industrial and commodities-related assets.
Action taken
The group acquired British steel firm Stemcor for a reported US$150 million.
Aftermath
The acquisition expanded Cedar’s international steel and metals exposure. Later reporting about Cedar’s financial condition created broader uncertainty around the group’s business model.
Reported acquisition price. US$150 million (2020)
Recent events
Cedar Holdings and Agricultural Bank of China Guangdong Branch sign strategic cooperation agreement[2]
Reported:
Cedar Holdings and Agricultural Bank of China Guangdong Branch signed a strategic cooperation agreement. The bank will provide Cedar Holdings with credit support of RMB 20 billion and financial services.
Sources2 sources
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