That summer they set about trying to turn around the fortunes of Wolves - and they did so by taking them back into the Premier League.
They reached an FA Cup semi-final - and gave the fans memories of Europe after qualifying for the Europa League.
This summer fans have been frustrated by a lack of transfer activity with no one arriving so far this window.
We've taken a look back at Fosun's first transfer window back in 2016 - to look how their first slice of business panned out.
Helder Costa - Loan
The winger became the first signing of the Fosun era - arriving from Benfica in July 2016.
Initially Costa arrived on a season long loan deal - but that the turned into a permanent deal in January 2017 for a fee in the region of £13 million, a significant transfer sum for a Championship club at the time.
In his first season he netted ten times in 35 appearances and the following season helped Wolves back to the Premier League.
Almost 100 appearances Costa clocked up at Molineux before Wolves sold him for £15 million.
A key part of the early Fosun years and a £2 million profit in transfer fees - a stunning first piece of business,
Ivan Cavaleiro - £7 million
Monaco forward Cavaleiro came in late in the window for a club record £7 million - which would later be smashed in the January by Costa.
It was an exciting piece of business and it paid off.
Like Costa, the forward playing a big part in Wolves getting back to the big time - scoring 19 goals in 106 appearances before being sold to Fulham.
This bettered the Costa deal - as Wolves received £15 million for the forward, more than double what they paid for him.
Romain Saiss - £3 million
Another signing - who turned out to be arguably one of the best in the last six years.
Saiss arrived from French side Angers for £3 million and left this summer after six years of service.
He played over 200 times for Wolves - and has been a key part of getting to and staying in the top flight - before leaving for Besiktas.
Jon Dadi Dodvarsson - £1 million
The striker arrived on a three year deal from Kaiserslautern - and didn't go on to have the best goalscoring record for the club.
He scored just three times in 42 games - but proved to be a hit with fans for his hard working style.
Again, another who left for a profit, going to Reading for £3 million.
Prince Oniangue - £2 million
Not one to shout about really. Midfielder played just a handful of games following a move from France.
Departed on loan before leaving permanently and re-launching his career back in France.
Paul Gladon - £1 million
The striker game from Holland having burst onto the scene.
But again, just a handful of games, hardly any goals and he was back in Holland. Filed under ones to forget.
Technically before Fosun's takeover, by a few weeks, the experienced keeper arrived from Fulham.
A former West Brom target, Lonergan played just 11 times before leaving for Leeds.
Silvio - Free
Signed on a free, the full back never really set the world alight at Wolves.
Four appearances later he was off to Braga B.
Jack Ruddy - Free
The young, highly rated keeper arrived from Bury in 2016 - but failed to make a single appearance.
After a number of loan spells he left the club and was last seen playing in the Scottish lower leagues.
Ola John - Loan
Another less than inspiring signing, but mostly down to injury. Two appearances Wolves managed out of him following a season long loan from Benfica.
Cameron Borthwick-Jackson - Loan
Arrived from Manchester United - the defender only managed six appearances before departing.
Went on a host of loan spells before signing for Oldham and then Burton Albion.
Richard Stearman - Loan
He made over 200 appearances in his first spell - and in 2016 the defender was back at the club.
After moving to Fulham - Stearman returned to Molineux and played 18 times that campaign.
Joao Texeira - Loan
Another loan spell. This one slightly more successful than others as the midfielder played 17 times during his time at the club - before going on to other loan spells with Nottingham Forest.