0500 on Hong Kong Stock Exchange

Frontier Services Group

Chinese state-owned security, logistics, insurance company

Frontier Services Group (FSG) is a Chinese partially state-owned Africa-focused security, aviation, and logistics company founded and led until April 2021 by Erik Prince, the former head of Blackwater Worldwide. Prince has described FSG's main corporate mission as helping Chinese businesses to work safely in Africa. The company operates logistical projects for shipping routes in Africa, and also conducts high-risk evacuations from conflict zones.2 It is part of CITIC Group.1 Its shares trade on Hong Kong Stock Exchange under the symbol 0500.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

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  • Ticker0500 on Hong Kong Stock Exchange1
  • Industryinsurance, logistics, security1
  • Websitewww.fsgroup.com

Frontier Services Group (FSG) is a Chinese partially state-owned Africa-focused security, aviation, and logistics company founded and led until April 2021 by Erik Prince, the former head of Blackwater Worldwide. Prince has described FSG's main corporate mission as helping Chinese businesses to work safely in Africa. The company operates logistical projects for shipping routes in Africa, and also conducts high-risk evacuations from conflict zones. FSG's area of service has since expanded to the Belt and Road areas of Africa, Central Asia, and Southeast Asia.2

Corporate structure

Frontier Services Group is part of a group headed by CITIC Group. 32 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • CITIC Group Beijing
    • Frontier Services Group
    • Amoy Food Subsidiary
    • China CITIC Bank Subsidiary · Beijing
    • CITIC Europe Holdings Subsidiary · Praha 1, Czechia
      • ŽĎAS 100% · Žďár nad Sázavou, Czechia
      • SK Slavia Prague Subsidiary · 99.97% · Prague
      • Eden Arena Subsidiary · 100% · Czechia
      • Florentinum Asset Subsidiary · 100% · Czechia
      • Florentinum ASSET, a.s. Subsidiary · 100% · Praha 1, Czechia
      • Karmelitská hotel Subsidiary · 100% · Czechia
      • Le Palais - Praha Subsidiary · 100% · Czechia
      • Nadační fond Tradiční čínské medicíny Subsidiary · 100% · Czechia
      • NP30 Subsidiary · 100% · Czechia
      • NP30 Asset Subsidiary · 100% · Czechia
      • Příkopy Property Development Subsidiary · 100% · Czechia
      • TS Plzeň Subsidiary · 100% · Czechia
    • CITIC Guoan Group Subsidiary
    • CITIC Limited Subsidiary · 北京市, China
    • CITIC Securities Subsidiary · Shenzhen
      • CLSA Subsidiary · Hong Kong, Hong Kong
    • CITIC Financial AMC Stake · 26.46% · Beijing
    • Beijing CITIC Enterprise Management Subsidiary · China
    • Hengxin Enterprises Subsidiary · British Virgin Islands
    • Rainbow Wisdom Investments Limited Subsidiary · China

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

The story

Founded by Erik Prince.1

FSG was initially a Bermuda-registered electronics company called "DVN Holdings Limited". DVN was renamed to FSG in January 2014 to reflect its change in direction.

In May 2014, it was reported that Prince's plan to build a diesel refinery in South Sudan, in which $10 million had already been invested, was suspended. The halted refinery project was reported to be supported personally by the country's president, Salva Kiir Mayardit. Frontier Services Group was reported to be paid $23.3 million by South Sudan's Ministry of Petroleum to transport supplies and perform maintenance on oil production facilities.

As part of Prince's Africa-focused investment strategy, Frontier Services Group purchased stakes in two Kenyan aviation companies, Kijipwa Aviation and Phoenix Aviation, to provide logistics services for the country's oil and gas industry. In October 2014, the Kenya Civil Aviation Authority denied Kijipwa Aviation an aviation license renewal.

Prince also purchased a 25% stake in Austrian aviation company Airborne Technologies. In 2014, Prince commissioned the company to modify Thrush 510G crop-dusters with surveillance equipment, machine guns, armor, and other weapons, including custom pylons that could mount either NATO or Russian ballistics. One of the modified crop-dusters was delivered to Salva Kiir Mayardit's forces in South Sudan shortly before a contract with Frontier Services Group was cancelled. Frontier Services Group owns two of the modified Thrush 510Gs, but since executives learned the craft had been weaponized by Prince, the company has declined to sell or use the aircraft to avoid violating U.S. export controls.

In December 2016, FSG announced its plans to set up a “forward operating base” in Yunnan to provide logistics and unarmed security training services to facilitate One Belt, One Road-related projects in Southeast Asia.

In May 2017, FSG acquired 25% of a Chinese private security training school called International Security and Defense College (ISDC). FSG has since overseen the school's program of training "overseas security specialists".

FSG announced plans to work with Mozambique hidden-debt companies in December 2017. FSG established operations in Iraq in 2018.

In 2019, FSG signed contracts to support China's Belt and Road Initiative, including building a series of bases in China's Xinjiang, where the internment camps of ethnic Uyghurs attracted widespread allegations of human rights abuse. Chinese Communist Party officials in Xinjiang reported that FSG's work would enhance the paramilitary Xinjiang Production and Construction Corps.

Read the full text

Effective April 13, 2021, Erik Prince resigned from his positions as executive director and deputy chairman of the company.

U.S. sanctions

In June 2023, the United States Department of Commerce added Frontier Services Group to the Bureau of Industry and Security's Entity List due to its training and support of the People's Liberation Army.

From Wikipedia’s article on Frontier Services Group, shared under CC BY-SA 4.0.3

Leadership

Who has led Frontier Services Group, and when. Pick a name to see everywhere that person has worked.

Products and brands

According to FSG in September 2017, it does not provide services involving armed personnel or training armed personnel. In some cases, it provides personnel and training to help non-military personnel provide close protection security, without the use of arms. However, critics have voiced concern that Prince's work as FSG chairman has included efforts to sell paramilitary programs and services. FSG ended contracts with two of Prince's closest associates within the company after becoming suspicious that they were assisting Prince in unauthorized paramilitary contracts. In addition, FSG oversees "anti-terrorist security" training programs in a school it partially owns, going so far to feature the newly trained "specialists" in a promotional video.

From Wikipedia’s article on Frontier Services Group, shared under CC BY-SA 4.0.3

Subsidiaries and ownership

Parent company

From Wikidata.1

Timeline

  1. Jul 29, 1988Went public Listed on Hong Kong Stock Exchange1

Sources

The numbers on this page point here. Each one links to the record it came from.

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