FOSUN INTL LTD ORD - FOSUF STOCK NEWS

Fosun International has successfully completed a USD888 million sustainability-linked syndicated loan, one of the largest of its kind for a Chinese privately-owned enterprise in 2024. The loan, initially launched in May with a first close of USD603 million, was followed by Greenshoe accessions. 25 banks participated in the syndicate, including both long-term partners and new lenders from various countries.

This loan is part of Fosun's flagship financing platform, continuing its annual tradition of 3-year syndicated loans since 2017, with sustainability-linked features incorporated since 2023. The successful completion demonstrates Fosun's strong support from both Chinese and foreign banks, as well as its commitment to ESG initiatives.

Fosun aims to continue implementing its core business-focused strategy, improve operating capabilities in advantageous industries, and optimize its debt structure and liquidity management for steady future development.

Fosun International (HKEX: 00656) has received an AA- HSI ESG Rating for two consecutive years, highlighting its strong sustainability performance. The company has been selected as a constituent stock of the Hang Seng Corporate Sustainability Benchmark Index for five consecutive years. Fosun outperformed 90% of global enterprises in four core areas: Corporate Governance, Environment, Consumer Issues, and Community Involvement and Development.

Fosun has established a robust ESG governance structure and management system, integrating sustainable development principles into its operations. The company has committed to peaking carbon emissions by 2028 and achieving carbon neutrality by 2050. Fosun is the only conglomerate in Greater China rated AA by MSCI ESG Ratings and outperformed 94% of its global peers in the S&P Global Corporate Sustainability Assessment. The company was also included in the FTSE4Good Index Series and ranked in the top 1% of S&P Global's Sustainability Yearbook 2024 (China Edition).

Fosun International, a global consumer group, reported its 2024 interim results, highlighting its focus on globalization, innovation, and asset-light operations. Chairman Guo Guangchang emphasized the company's commitment to building a consumer-centered group with predictable development and profits. Fosun's overseas revenue accounted for 47% of total revenue, with plans for further increase. The company reported revenue of RMB97.84 billion and profit attributable to owners of RMB720 million. Fosun is streamlining its business, adopting an asset-light strategy, and focusing on core industries to achieve investment-grade ratings. The Group's adjusted total debt-to-capital ratio was 50.2%, continuing a downward trend since 2020.

Fosun International reported its 1H2024 results, showing total revenue growth to RMB97.84 billion and industrial operation profit of RMB3.47 billion. Key highlights include:

- Four core subsidiaries generated 74% of total revenue at RMB72.17 billion
- Adjusted debt-to-capital ratio decreased to 50.2%
- Overseas revenue reached RMB45.87 billion, 47% of total
- R&D investment of RMB3.5 billion
- Asset-light operations expanded, with Club Med's self-owned resorts reduced to 15%

The company maintained its strategic focus on core businesses, innovation, and globalization while optimizing its asset portfolio and reducing leverage. Fosun aims to continue developing industry-leading companies and products in its advantageous sectors.

Guo Guangchang, Chairman of Fosun International, reaffirmed the company's commitment to its globalization strategy at the 2024 Semi-Annual Working Meeting. Fosun, with a 17-year history of global expansion, now operates in over 35 countries. In 2023, overseas revenue reached RMB89.2 billion, accounting for 45% of total revenue, with a 10-year CAGR of 55%.

Key global successes include Club Med, a major revenue source for Fosun Tourism Group, and Fosun Pharma's expansion into African markets. Shanghai Henlius, a Fosun Pharma subsidiary, has gained international recognition for innovative drugs. Fidelidade, an overseas member company, increased its premium percentage in overseas markets from 6% in 2017 to 33% in 2023.

Fosun International (HKEX: 00656) has been included in S&P Global's Sustainability Yearbook 2024 (China Edition) as a top 1% performer and recognized as an Industry Mover. This achievement reflects Fosun's continuous efforts in environmental, social, and governance (ESG) practices.

The company's S&P Global Corporate Sustainability Assessment (CSA) score increased from 56 points in 2022 to 68 points in 2023, outperforming 94% of its global peers. Fosun's inclusion in the top 1% required scoring within 1% of the industry's top-performing company and achieving at least 60 points.

Fosun has established a robust ESG management system, integrating sustainability requirements into its business operations. The company focuses on responding to national strategies, ensuring information security, promoting innovation, implementing 'dual carbon' goals, and protecting employee rights.

On July 7, 2024, Fosun International announced its inclusion in the "China ESG 2024 ESG Action Report" by the Financial Program Center of China Media Group. Evaluating 972 out of 6,471 listed companies, the report ranked Fosun 14th overall and first in the composite industry for its ESG efforts.

Fosun International has a robust ESG management system in place, integrating sustainable practices into its business operations. In 2023, it received several accolades, including an MSCI ESG rating of AA for three consecutive years and inclusion in the S&P Global's Sustainability Yearbook 2024 as an "Industry Mover." Fosun Pharma, a subsidiary, was also recognized for its ESG achievements.

These achievements underline Fosun's commitment to sustainable development, focusing on national strategies, technology innovation, and public welfare, despite challenging macroeconomic conditions.

On July 1, the China-Thailand Cultural Tourism Industry Summit took place in Bangkok, hosted by the Global Tourism Economy Research Centre and organized by the China Chamber of Tourism and the China Women's Chamber of Commerce. A Chinese delegation of over 200 business leaders attended to enhance China-Thailand cooperation in cultural tourism. Keynote speeches highlighted the potential for mutual prosperity and collaboration. Fosun International's Co-CEO Xu Xiaoliang emphasized leveraging global and local operations for industry innovation and new opportunities. Discussions focused on fostering China-Thailand cooperation and tourism growth.

With a strong historical presence in Thailand, Fosun's Club Med Phuket Resort has been a significant player since 1985. Thailand also emerged as a vital source market for Fosun's various destinations. Xu Xiaoliang shared insights into Fosun's innovative practices, including urban vacation, super destination, and cultural tourism commerce. The success of Atlantis Sanya and the expansion of Club Med Urban Oasis in China were underscored. Xu concluded by highlighting future plans for collaboration and cultural exchange between China and Thailand.

On June 18, 2024, over 40 diplomats, including ambassadors and consuls general from 26 countries, visited Fosun in Shanghai. The delegation toured the Grand Yuyuan, experiencing both the cultural heritage of old Shanghai and Fosun's global business achievements. Organized by China's Ministry of Foreign Affairs and Shanghai's Foreign Affairs Office, the event aimed to foster international business cooperation.

Fosun, a global innovation-driven consumer group, operates in over 35 countries across sectors like pharmaceuticals, culture & tourism, and finance. Diplomats showed interest in further business collaborations. Highlights included Fosun's achievements in pharmaceuticals, such as the global approval of their drugs HANSIZHUANG, HANQUYOU, and HANLIKANG, and their significant revenue from international markets, accounting for 45% of total revenue in 2023.

Fosun also showcased the Yuyuan Garden Lantern Festival and ongoing Grand Yuyuan project, aiming to develop this area into a major cultural and commercial hub. Diplomats expressed keen interest in participating in future cultural events and business opportunities with Fosun.