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Overview of Fosun International Ltd.
Fosun International Ltd. (HKEX stock code: 00656, OTC symbol: FOSUF) is a globally diversified consumer group headquartered in Hong Kong. Established in 1992, Fosun operates across multiple industries, including healthcare, tourism, wealth management, and fashion. The company is committed to creating a 'happiness ecosystem' that addresses the health, happiness, and wealth needs of families worldwide. By leveraging its global operational capabilities and innovation-driven strategies, Fosun has established a significant presence in over 35 countries and regions.
Core Business Segments
Fosun's operations are organized into four primary segments:
- Healthcare: Through subsidiaries like Fosun Pharma, the company develops and markets innovative drugs, biosimilars, and medical devices. It has achieved global recognition for its R&D capabilities, with products approved in key markets such as the U.S., EU, and China.
- Tourism and Leisure: Fosun Tourism Group (FTG) manages renowned brands such as Club Med and Atlantis Sanya. These brands exemplify Fosun's asset-light operational strategy, with a focus on premium, all-inclusive vacation experiences.
- Wealth Management: Fosun Insurance Portugal and other financial services entities provide comprehensive insurance, asset management, and financial solutions, contributing significantly to global revenue streams.
- Fashion and Lifestyle: Yuyuan, a key subsidiary, integrates traditional Chinese culture with modern consumer trends, offering products ranging from jewelry to cultural experiences.
Global Footprint and Market Strategy
Fosun's globalization strategy is a cornerstone of its success. The company has transitioned from 'prospecting' global markets to 'deep mining,' focusing on core industries with high growth potential. Its 'global organization + local operations' model enables it to adapt to regional market dynamics while leveraging global synergies. In 2023, overseas revenue accounted for 47% of total revenue, reflecting its robust international presence.
Innovation as a Growth Driver
Fosun invests heavily in technology and innovation, with R&D expenditures exceeding RMB 7 billion annually. Its healthcare segment, led by Shanghai Henlius, has pioneered groundbreaking treatments such as the world's first anti-PD-1 monoclonal antibody for small cell lung cancer. In tourism, digitalization initiatives like Club Med's new booking engine have enhanced operational efficiency and customer experience.
Operational Excellence and Financial Stability
Fosun emphasizes operational efficiency through asset-light strategies and industrial fund collaborations. The company has successfully reduced its debt-to-capital ratio while maintaining strong liquidity. Its diversified revenue streams and prudent financial management have earned it an AA ESG rating from MSCI, making it the only conglomerate in Greater China with this distinction.
Challenges and Competitive Landscape
Fosun operates in a competitive environment alongside global conglomerates and regional players. Its focus on core businesses, debt optimization, and asset-light operations positions it to navigate market complexities effectively. By aligning its strategies with global trends like sustainability and digital transformation, Fosun continues to differentiate itself in the market.
Conclusion
Fosun International Ltd. exemplifies a modern, innovation-driven conglomerate with a global vision. Its diversified portfolio, commitment to R&D, and strategic focus on core industries make it a significant player in the global market. By addressing the evolving needs of families worldwide, Fosun is well-positioned to sustain its growth and operational excellence.
Fosun International Chairman Guo Guangchang addressed the 25th Annual Conference of Yabuli China Entrepreneurs Forum, emphasizing that private enterprises thrive with fair competition opportunities and commitment to product excellence. Despite economic challenges, Fosun has seen positive consumer response across its portfolio, with high occupancy at Atlantis Sanya, strong sales growth for Shede Spirits, and successful tourism ventures.
Over the past two years, Fosun has strategically divested over RMB80 billion in non-core assets, significantly reducing debt and successfully navigating its "maturity wall." The company is now focusing on its core advantages in health, tourism, and consumption sectors. Recent initiatives include establishing a RMB5.0 billion biomedical industry fund with Shenzhen Municipal Government and advancing tourism projects.
Fosun's global presence spans 35 countries and regions, with notable success in biopharmaceuticals through Shanghai Henlius, which recently launched its PD-1 monoclonal antibody in the European Union. The company is actively integrating AI technology across its business sectors to enhance efficiency and drive innovation.
Fosun International has signed a Memorandum of Strategic Cooperation with the Abu Dhabi Investment Office (ADIO) on February 20, 2025, marking a significant expansion into the Middle East region. The agreement will provide Fosun with tailored investment support, streamlined market access, and strategic resource connections in key sectors including healthcare innovation, wealth management, fintech, tourism, and Hive City projects.
The company has already made notable progress in the Middle East market over the past six months: Roc Oil completed an acquisition of Tethys Oil AB's oilfield blocks in Oman; Henlius entered a strategic collaboration with SVAX in Saudi Arabia; and FFT formed a joint venture with Khaled Juffali Company to provide automated production line solutions for Saudi Arabia's electric vehicle industry.
Fosun International (HKEX: 00656) has been selected for the S&P Global's Sustainability Yearbook 2025 for the second consecutive year, highlighting its strong ESG performance. Out of 7,690 companies assessed across 62 industries, only 780 were selected, with just 10 from the industrial conglomerates sector.
The company achieved a CSA score of 70 in 2024, placing it in the top 5% among global peers and approximately 40 points above the industry average. Fosun has maintained an MSCI ESG rating of AA since 2021 and holds an HSI ESG rating of AA-.
Notable achievements include ranking in the top 1% in S&P Global's Sustainability Yearbook 2024 (China Edition) and recognition as an "Industry Mover". The company's "Rural Doctors Program" was also featured among the UN Global Compact's "20 Cases of Private Sector's Sustainable Development in China for 20 Years" in November 2024.
Fosun International (HKEX: 00656) has signed a strategic cooperation agreement with Natixis Corporate & Investment Banking on January 16, 2025. The agreement strengthens their partnership that began in 2010 and was enhanced in 2014. Under the new agreement, Natixis CIB will provide Fosun with consulting and financial services in financing, transaction structuring, and risk hedging, leveraging its expertise in specialized fields and operations in Europe and the Americas.
The agreement was signed at the Bund Finance Center by Zhang Houlin, Senior Vice President and Co-CFO of Fosun International, and Liu Hong, Senior Country Manager, Greater China, Natixis CIB. Fosun, which operates in more than 35 countries, will benefit from Natixis CIB's network and resources to support its global development strategy. Natixis CIB, a subsidiary of French banking group Groupe BPCE, will utilize its high credit ratings and stable funding sources to support this partnership.
Fosun International has achieved a significant milestone in S&P Global's 2024 Corporate Sustainability Assessment (CSA), scoring 70 points and ranking in the top 5% among global peers. This represents an improvement from their previous score of 68 points and top 6% ranking last year, significantly outperforming the industry average of 30 points.
The company received balanced scores across key dimensions: 72 in governance and economic, 68 in environmental, and 71 in social aspects. Notable achievements were recorded in Business Ethics, Environmental Policy, Energy, Climate Strategy, Risk Management, Human Capital Development, and Customer Relationship Management.
Fosun's commitment to ESG is further evidenced by its inclusion in S&P Global's Sustainability Yearbook 2024, its AA rating from MSCI ESG (unique among Greater China conglomerates), and its consistent presence in the FTSE4Good Index Series. The company recently launched its sustainable development strategy 'Create IMPACT' to drive innovation and global sustainability initiatives.
Fosun International has been awarded the prestigious 'Outstanding ESG Award' along with 'Best in ESG Practices' and 'Best in ESG Report' at the TVB ESG Awards ceremony held on December 13, 2024, in Hong Kong. The company, which operates in over 35 countries across healthcare, tourism, consumption, and insurance sectors, was recognized for its comprehensive ESG management system and sustainable development initiatives.
Notable achievements include their commitment to peak carbon emissions by 2028 and achieve carbon neutrality by 2050, the establishment of a Carbon Neutrality Committee, and significant healthcare innovations. Their pharmaceutical division has made breakthrough developments, including Yi Kai Da, the first CAR-T cell therapy approved in mainland China, and artesunate injections that have treated over 72 million severe malaria patients globally.
The company has implemented its 'Create IMPACT' sustainable development strategy, focusing on innovation, mindful operation, people-oriented approach, advanced governance, climate positivity, and transparency.
Atlantis Sanya hosts the 2024 China Mermaid Open Grand Final and Asian Cup on December 12th-13th, marking the first Asian Cup for mermaid sports. Over 70 top athletes from various Asian countries and regions compete at the Ambassador Lagoon, featuring 13,500 tonnes of seawater and an 11-metre-deep open-air setting.
The event, jointly hosted by multiple Chinese sports authorities and Fosun Tourism Group, represents a significant step toward internationalizing mermaid sports. The venue's 16.5-metre-wide, 10-metre-high acrylic viewing panel allows spectators to witness the underwater performances up close.
This marks the fourth consecutive year Atlantis Sanya has hosted the Mermaid Open, contributing to Hainan's development as a sports tourism destination and supporting China's national sports development strategies.
Fosun International (HKEX: 00656) has received five prestigious ESG awards from two global media outlets, highlighting its excellence in environmental, social, and governance practices. The company earned the ESG Leading Enterprise Award and ESG Leading Social Initiatives Award from Bloomberg Businessweek/Chinese Edition, alongside three awards from Global Banking and Finance Review.
The company's achievements include its 'Create IMPACT' sustainable development strategy, focusing on Innovation, Mindful Operation, People and Partner Orientation, Advanced Governance, Climate and Planet Positivity, and Transparency. Notable initiatives include the Rural Doctors Program, which has supported 25,000 rural doctors and benefited 3 million grassroots families, and their malaria treatment program, which has treated over 68 million patients globally.
Fosun International maintains an MSCI ESG Rating of AA, outperformed 94% of global peers in S&P Global's Corporate Sustainability Assessment, and operates responsibly in more than 35 countries and regions.
Fosun's Rural Doctors Program has been selected as one of the '20 Cases of Private Sector's Sustainable Development in China for 20 Years' by the United Nations Global Compact (UNGC). The program, launched in 2017, has reached 78 counties across 16 provinces in China, supporting 25,000 rural doctors and benefiting 3 million grassroots families. Fosun, which holds an MSCI ESG rating of 'AA', is the only conglomerate in Greater China to achieve this rating. The program has received multiple recognitions, including the 'National Advanced Collective in Poverty Alleviation' and 'China Charity Award'.
Fosun, China's largest private investor in Portugal, marks a decade of significant market presence since 2014. The company has built a robust ecosystem focused on insurance, banking, and healthcare through key investments: Fidelidade (Portugal's largest insurer), Luz Saúde (major healthcare group), and Millennium BCP (largest listed private bank). Fidelidade reported €2.808 billion in premiums (+5.9% YoY) and €104 million net income (+5.3% YoY) as of June 2024. The company has expanded to 13 countries, with international operations contributing over 30% of total premiums and 40% of profits. Digital transformation initiatives have shown success, with Fidelidade's app reaching 1.6 million users and BCP achieving €856 million in net profit in 2023.
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