Guo Guangchang's New Year's Message: Steer Through the Rapids, Believe in the Future

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Fosun Tourism Group (FOSUN) had a successful year in 2023, with impressive tourism rebound and business performance. The company's Atlantis Sanya saw a significant increase in business volume, exceeding RMB1.3 billion in the first three quarters of 2023, representing an 83.2% increase compared to the same period in 2022. Club Med Urban Oasis resorts in Nanjing and Taicang, China, also gained popularity, with Alps Snow Live in Taicang becoming internet-famous. Fosun's disposal of Nanjing Nangang further solidified its focus on core businesses in the household consumption sector. Despite the industry downturn, Nanjing Iron & Steel remained competitive, registering a monthly profit.

HONG KONG, Jan. 2, 2024 /PRNewswire/ -- In the blink of an eye, 2023 is coming to an end. Thank you for your hard work and dedication.

It has been a year of relentless efforts toward hope. After experiencing the three-year epidemic, many families have made plans for the new year from the beginning of the year and are eager to travel with their family. This year's tourism rebound has been particularly pronounced. Club Med and Atlantis Sanya under Fosun Tourism Group achieved their best performance over the same period. The business volume of Atlantis Sanya in the first three quarters of 2023 exceeded RMB1.3 billion, representing an increase of approximately 83.2% compared with the same period in 2022, becoming the key engine for the recovery of Sanya's cultural tourism economy. Capitalizing on this momentum, we opened two Club Med Urban Oasis resorts in Nanjing, China and Taicang, China at the end of the year to create urban vacation experience. In particular, Alps Snow Live in Taicang has gained widespread attention and popularity since its opening and became an internet-famous. No matter how the world changes, Fosun always believes that people's pursuit of a brighter life remains unchanged, and we will keep pushing towards this direction.

The past twelve months have been extremely fulfilling for me. I travelled to many countries and took a closer look at many projects. There were farewells and harvests.

• There is a kind of love called letting go. Fosun has invested in Nanjing Iron & Steel since 2003. Although was a difficult decision, we officially completed the disposal of Nanjing Nangang at the end of 2023, which further steeled Fosun's determination to focus on core businesses in the household consumption sector. After twenty years of working together, and with the efforts of all Nanjing Iron & Steel staff, Nanjing Iron & Steel has become a very competitive modern steel company in China's steel industry. Despite the overall industry downturn this year, it still registered a monthly profit of about RMB300 million, which was not easy, and I would like to congratulate them again;
• On the other hand, Club Med Kiroro Grand in Hokkaido, Japan officially opened, and I took my family there for a ski trip. The launch implies that Club Med has further established its leading brand and dominant position in the skiing industry in Hokkaido and even the world;
• Fosun has once again made a lot of great achievements in the field of health in 2023, including the domestic production of da Vinci robotic surgical system and the record-breaking sales of HANQUYOU. At the beginning of the year, Shanghai Henlius's self-developed HANSIZHUANG was approved for its third indication, becoming the world's first anti-PD-1 monoclonal antibody approved for first-line treatment of small cell lung cancer, offering a new treatment option for patients with small cell lung cancer and setting a new benchmark for domestic tumor immunotherapy. At the end of the year, we were also very pleased to see that Fosun Pharma and Shenzhen officially reached a cooperation agreement on the RMB5.0 billion fund for innovative drug development. As an innovative company rooted in Shanghai, we also look forward to working and collaborating with more cities;
• And, Wolverhampton Wanderers F.C. ("Wolves") snapped a three-game winning streak during the busy month of December.

The year 2023 has brought us many surprises, and also gave us more to look forward in 2024. With the gradual easing of Sino-US relations, we believe that the two countries must compete and cooperate. The "coopetition" (coopetitive relationship) between China and the United States also brings benefits to the global market. Since the U.S. Federal Reserve meeting in September this year, the U.S. Federal Reserve has suspended interest rate hikes for three consecutive meetings, which seems to indicate the end of rate hikes and signal rate cuts in 2024. The overall economy will then be stimulated, injecting vitality to capital markets globally, including China. Although the offline retail market has not fully recovered in 2023, people's pursuit for a brighter life will definitely drive the market to further release more vitality in the new year. After experiencing the past thirty years, Fosun will continue its focused strategy in the future. Fosun used to explore different sectors and develop businesses in parallel in its exploratory stage. Now we have explored many sectors and found industries in which we can form advantages. In the future, we will combine our own characteristics, focus on these industries and further develop high value-added businesses.

Looking ahead, I hope Fosun will become an organization that brings warmth to the world. This year, I am also very delighted that our Yuyuan Garden Lantern Festival made its overseas debut. Starting from 15 December, the Festival Dragons et Lanternes has officially opened to the public at the Jardin d'Acclimatation in Paris, France. Meanwhile, 9,300 kilometers away from the Jardin d'Acclimatation, Yuyuan Garden in Shanghai is ablaze with the Ninghui Road-themed lantern installation "A Night of Fish and Dragon Dance", sending New Year's greetings to families worldwide and celebrating the Year of the Dragon with all. Finally, I would like to thank Fosuners for your hard work and dedication. The New Year has arrived. I hope everyone will find hobbies to enjoy, take good care of their health, and continue to work diligently for the health, happiness, and wealth of one billion families worldwide.

Believe in yourself and the future in 2024. Happy New Year!

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SOURCE Fosun

FAQ

What was Fosun Tourism Group's business volume in the first three quarters of 2023?

The business volume of Atlantis Sanya exceeded RMB1.3 billion, representing an 83.2% increase compared to the same period in 2022.

What new resorts did Fosun Tourism Group open at the end of 2023?

Fosun opened two Club Med Urban Oasis resorts in Nanjing, China, and Taicang, China.

What caused Fosun's focus on core businesses in the household consumption sector?

Fosun's disposal of Nanjing Nangang further solidified its focus on core businesses in the household consumption sector.

How did Nanjing Iron & Steel perform despite the industry downturn?

Nanjing Iron & Steel remained competitive, registering a monthly profit despite the overall industry downturn.

What was the percentage increase in business volume for Atlantis Sanya in the first three quarters of 2023 compared to the same period in 2022?

The business volume of Atlantis Sanya in the first three quarters of 2023 exceeded RMB1.3 billion, representing an 83.2% increase compared to the same period in 2022.