Farmer's daughter makes massive strides in service

By Tan Yingzi (China Daily) Updated: 2015-11-30 08:00

According to an ASX announcement, TTC owns the Hong Kong-registered China Fuqiao Healthcare Co Ltd. China Fuqiao Healthcare, in turn, holds a 100 percent stake in Fuqiao (Chongqing) Holdings Co Ltd, which is the fastest-growing foot therapy massage brand in China.

Following the public issue, Hwazon Investment Ltd has become the largest shareholder of TTC. The actual head of Hwazon is Hu, who indirectly holds 62.04 percent of Hwazon.

TTC has been operating under the trade brand name Fuqiao, which was approved by the Trademark Office of the State Administration for Industry and Commerce in 2002.

All this was made possible when Guangdong province witnessed an economic boom in the 1990s and services bloomed. Chinese foot massage became popular among the fast-paced city dwellers.

Hu remembers that a tour of Guangzhou clinched the couple's first foot therapy clinic and it began to make a profit in three months.

"We created our own signature massage style combined with Guo's family skills and Guangdong style," she said. "Right from the first day, we made the rule that customers can get a full refund if they are not satisfied with our massage."

Guo's three younger brothers joined the family business later. But that led to clash of ideas about the company's development and a four-way split in 2003.

Under the leadership of Hu, Chongqing Fuqiao made industry history.

In 2007, Chongqing Fuqiao became the first foot massage company in the country to pass the ISO 9001:2000 international quality certification.

In 2009, Fuqiao's signature therapy massage technique was listed as part of Chongqing's intangible cultural heritage.

She also set up a training school to nurture foot therapists for the company. Most of the students came from her hometown Jiangjin.

In order to become the industry leader, Hu was convinced that Fuqiao should be the first one in the country to go public. Efforts started in 2011 with Hong Kong the first choice.

In 2011, China Fuqiao Healthcare was registered in Hong Kong, but the IPO was put on hold due to a family issue. In February 2014, Fuqiao revived the plan, but, after consulting with some firms, changed the IPO destination to Australia.

"Australia pays great attention to health industries and traditional Chinese medicine is well received there. We believe Australia is a good destination for Chinese small- and medium-size companies going public," Hu said.