Fosun International Garners Four Awards from Corporate Governance Asia

Rhea-AI Summary

On May 31, 2024, Fosun International was honored with four prestigious awards by Corporate Governance Asia. Executive Directors and Co-CEOs, Chen Qiyu and Xu Xiaoliang, received the Asia's Best CEO Award. The company also secured the Sustainable Asia Award and Best Corporate Communications Award. These accolades recognize Fosun's excellence in financial performance, corporate governance, ESG efforts, and investor relations despite a challenging macroeconomic environment. Fosun's strategic focus on core businesses and operational resilience helped achieve steady growth, demonstrated by their solid ESG performance, including an MSCI ESG rating of AA for three consecutive years.

Positive

• Fosun International won four awards from Corporate Governance Asia.
• Chen Qiyu and Xu Xiaoliang received the Asia's Best CEO Award.
• Fosun was awarded the Sustainable Asia Award.
• The company also secured the Best Corporate Communications Award.
• Fosun maintained an MSCI ESG rating of AA for three consecutive years.
• The company was included in the S&P Global's Sustainability Yearbook 2024 as an 'Industry Mover'.
• Fosun's HSI ESG rating was upgraded to AA-.
• The company was selected as a constituent of the Hang Seng Corporate Sustainability Index for the first time.
• Fosun ranked among the top 6% in the S&P Global Corporate Sustainability Assessment.

Negative

• The press release did not provide specific financial figures or revenue data.
• There is no mention of new business developments or expansions.
• Lack of details on the operational challenges faced in 2023.

Chen Qiyu and Xu Xiaoliang, Executive Directors and Co-CEOs of Fosun International win Asia's Best CEO from Corporate Governance Asia

Fosun International receives Sustainable Asia Award and Best Corporate Communications Award

HONG KONG, June 4, 2024 /PRNewswire/ -- On 31 May 2024, the magazine Corporate Governance Asia presented the 14th Asian Excellence Award. Chen Qiyu and Xu Xiaoliang, Executive Directors and Co-CEOs of Fosun International Limited ("Fosun International" or "Fosun" or the "Group") (HKEX stock code: 00656) were both honored Asia's Best CEO. In addition, Fosun International was awarded Sustainable Asia Award and Best Corporate Communications Award.

Corporate Governance Asia is one of the most authoritative and influential corporate governance journals in the Asia Pacific region. The award recognizes outstanding industry leaders and enterprises that excelled in financial performance, corporate governance, corporate social responsibility, environmental protection, corporate communication and investor relations over the past year. Other award recipients of the 14th Asian Excellence Award include well-known Asia Pacific companies such as Sino Land, Sun Hung Kai Properties, New World Development, Bank of China (Hong Kong), China Mobile, China Telecom, China Unicom, CNOOC, PetroChina, and China Communications Services, etc.

The award recognizes companies that have managed to deliver steady business growth while demonstrating outstanding ESG performance, despite the challenging macroeconomic environment

According to Corporate Governance Asia, in 2023, in the face of the complex and volatile external environment, companies needed to have sound strategic planning and demonstrate strong operational resilience in order to achieve steady growth across their business, financial, and operational metrics. Against this challenging macroeconomic backdrop, it has become more critical than ever for companies to proactively and responsibly pursue sustainable development.

Corporate Governance Asia pointed out that, in 2023, despite the unfavorable global economic conditions influenced by geopolitical factors, Fosun maintained its strategic focus on core businesses, achieved steady development, improved the operational capabilities of its advantageous industries, and delivered solid results. Amid the complex external business environment, Mr. Chen Qiyu and Mr. Xu Xiaoliang, as the CEOs of a global large-scale private enterprise, have not only led the Group to grow its business operations, but also strengthened the management of sustainable development, proactively fulfilled corporate social responsibility, improved the Group's Environmental, Social, and Governance (ESG) performance, and leveraged the resources and advantages of Fosun's global industrial ecosystem to continuously create a better world. In recognition of these efforts, they were awarded the Asia's Best CEO accolade.

Chen Qiyu, Executive Director and Co-CEO of Fosun International, said, "Fosun has always adhered to the technology innovation-driven strategy, leveraging innovation to drive industrial development and make greater contribution to society. In recent years, the anti-cancer drugs we have developed have continuously achieved new breakthroughs. For example, Yi Kai Da (ejilunsai injection) developed by Fosun Kite is the first CAR-T cell therapy product approved for marketing in the Chinese Mainland, enabling more Chinese lymphoma patients to live longer and even to be 'cured'. By implementing its innovation strategy, Fosun hopes to develop more innovative achievements to help the public live 'healthily beyond the age of 121'. Furthermore, in addition to technology innovation, Fosun will continuously implement its 'dual carbon' goals and deepen its efforts in ESG to promote its sustainable development, endeavoring to jointly create a global happiness ecosystem."

Xu Xiaoliang, Executive Director and Co-CEO of Fosun International, said, "Globalization is the core of Fosun's development strategy, which naturally boasts 'globalization genes' of Fosun. The Group has always been making good use of global resources and combining global growth momentum with global resources, bringing its high-quality products and services to more families around the world. In addition to the 'hard power' of business globalization, Fosun's 'soft power' accumulated in its globalization journey is equally invaluable. From the end of last year to the beginning of this year, we successfully held the Yuyuan Garden Lantern Festival, a national intangible cultural heritage event that has been held for 29 consecutive years, in Paris, France, showcasing the charm of Chinese culture to the world. Looking ahead, Fosun will continue to bolster its global operational capabilities to create more high-quality products for families worldwide, while leveraging its standing as a global enterprise to fulfill its corporate responsibility."

Outstanding ESG ratings widely recognized by the market

Corporate Governance Asia pointed out that Fosun has been relentlessly promoting global ESG work, continuously bolstering its ESG framework, enhancing climate response capabilities, accelerating green development, and actively fulfilling corporate social responsibility. Fosun's outstanding ESG performance has received widespread recognition in the market, enabling the Group to receive the Sustainable Asia Award and Best Corporate Communications Award. These awards acknowledge Fosun's commitment to driving global sustainable development and undertaking corporate social responsibility, as well as its persistent efforts in advancing and disseminating outstanding ESG practices. 

Despite the macro environment remains challenging in the post-pandemic era, Fosun has made significant progress in fulfilling its unwavering commitment to sustainable development. In 2023, Fosun International received an MSCI ESG rating of AA for three consecutive years, and was the only conglomerate in Greater China with such rating. Fosun International's HSI ESG rating was upgraded to AA- and it was selected as one of the constituents of Hang Seng Corporate Sustainability Index for the first time. In addition, Fosun ranked among the top 6% among global peers in the S&P Global Corporate Sustainability Assessment (CSA) and was included in S&P Global's Sustainability Yearbook 2024 and recognized as an "Industry Mover" for its outstanding performance. Fosun has also been selected as a constituent of the FTSE4Good Index Series for two consecutive years.

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SOURCE Fosun

FAQ

What awards did Fosun International win in May 2024?

Fosun International won the Asia's Best CEO Award, Sustainable Asia Award, and Best Corporate Communications Award from Corporate Governance Asia.

Who are the Co-CEOs of Fosun International?

Chen Qiyu and Xu Xiaoliang are the Co-CEOs of Fosun International and both received the Asia's Best CEO Award.

What are the recent achievements of Fosun International in ESG?

Fosun International maintained an MSCI ESG rating of AA for three consecutive years and was included in the S&P Global's Sustainability Yearbook 2024.

What does Fosun International's upgraded HSI ESG rating signify?

Fosun International's upgraded HSI ESG rating to AA- signifies its strong performance in environmental, social, and governance aspects.

What is the significance of the Sustainable Asia Award for Fosun International?

The Sustainable Asia Award recognizes Fosun International's commitment to driving sustainable development and fulfilling corporate social responsibility.