Welcome to our dedicated page for FOSUN INTL UNSP/ADR news (Ticker: FOSUY), a resource for investors and traders seeking the latest updates and insights on FOSUN INTL UNSP/ADR stock.
Fosun International Limited (FOSUN INTL LTD UNSP/ADR) is a global innovation-driven consumer group founded in 1992. Fosun has a mission of creating happier lives for families worldwide by providing high-quality products and services. With businesses in over 35 countries and regions, Fosun focuses on sustainable development through its core business strategy. The company recently issued its Environmental, Social, and Governance (ESG) Report 2023, emphasizing innovation, mindful operation, people-oriented approach, advanced governance, climate positivity, and transparency. Fosun actively contributes to society by developing breakthroughs in healthcare, including anticancer and antimalarial drugs, and prioritizing technology innovation. Through its Fosun Foundation, the company engages in global emergency relief, rural revitalization, health, education, culture, youth development, and more to create social value. Fosun integrates ESG performance into the Board's evaluation, establishing a top-down mechanism for long-term ESG improvement and enhancement.
Noah Holdings (NYSE: NOAH, HKEX: 6686), a leading wealth management service provider, announced changes to its Board of Directors effective June 30, 2024. Dr. Zhiwu Chen retired, and Mr. Jinbo Yao resigned after a decade of service. Mr. David Zhang and Ms. Xiangrong Li have been appointed as Independent Directors. Ms. Li will be the new Chairwoman and join the Audit Committee along with Mr. Zhang. These appointments are expected to enhance Noah's governance and financial operations. Mr. Zhang brings extensive legal expertise, while Ms. Li has a strong background in financial management. Noah aims to maintain its commitment to high corporate governance standards through these changes.
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.
Finloop, an independently incubated digital wealth management platform by Fosun Wealth, has entered strategic agreements with several leading fintech companies, including China Asset Management and Ping An of China Asset Management. These agreements aim to boost digital transformation in wealth management and cater to personalized client needs. Finloop's assets under management are projected to exceed HK$10 billion this year, aiming for hundreds of billions in the next three years. Fosun's long-term investment in technology innovation has entered a fruitful phase, with Finloop showcasing industry-leading R&D capabilities. Fosun International Securities has also obtained a virtual asset dealing service license from Hong Kong's SFC, broadening its investment services to include virtual assets. The expected interest rate cuts in the latter half of the year could further enhance the investment climate.
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.
At the 4th BEYOND International Technology Innovation Expo 2024, Fosun International Chairman Guo Guangchang announced the company's long-term strategy focused on innovation and globalization. Aiming for stable revenue and profit growth, Fosun seeks to enhance its global operations and leverage international resources. Guangchang highlights the potential to cure cancer through Fosun's CAR-T cell therapy, which shows promising results. The company remains committed to philanthropic efforts, particularly in rural healthcare. Fosun's presence at the expo underscores its achievements in healthcare and technology innovation.
The 6th annual 515 Fosun Family Day kicked off on May 15, 2024, bringing together thousands of families across various commercial districts in China to celebrate the 'Fosun lifestyle'.
The event, themed around creating happy family experiences, featured numerous activities and promotions in cities like Shanghai, Tianjin, Chongqing, and Shenzhen from May 11-20. Highlights included painting sessions, interactive experiences, fitness classes, and exclusive product discounts.
Fosun aims to deepen its connection with consumers through these activities, aligning with Shanghai's Double Five Shopping Festival. The company organized over 600 activities in more than 10 commercial districts to boost offline consumption.
Member benefits were enhanced through partnerships with Alipay and OCJ.COM.CN, offering significant discounts and special promotions.
Fosun's efforts reflect its long-term focus on the family consumption industry, aiming to create happier lives for families worldwide.
On May 13, 2024, Fosun International's Chairman, Guo Guangchang, attended the Choose France Summit in Paris. The summit, hosted by the French government, aims to highlight France's investment appeal. Guo Guangchang engaged with French officials and business leaders from prominent companies like BNP Paribas and AXA. Fosun's extensive business presence in France includes sectors like tourism, fashion, pharmaceuticals, and food, with annual revenue exceeding 2 billion euros and over 10,000 local employees. Fosun has significantly contributed to Franco-Chinese business and cultural exchanges since entering the French market in 2010. The company owns renowned brands such as Club Med and Lanvin. Fosun also promoted the Yuyuan Lantern Festival in Paris last year, attracting nearly 200,000 visitors. The event marks Fosun's third participation in the summit, emphasizing its commitment to fostering further Franco-Chinese cooperation.
On May 13, 2024, Fosun International (HKEX: 00656) was included in the 2024 Fortune China ESG Impact List, highlighting its leadership in environmental, social, and governance (ESG) practices. Fosun has shown commitment to sustainable development, despite challenging macroeconomic conditions. The company received an MSCI ESG rating of AA for three consecutive years and improved its HSI ESG rating to AA-. It made significant strides in healthcare innovation, with new approvals for anticancer and antimalarial drugs. Fosun's achievements also include inclusion in prominent sustainability indices and recognition as an 'Industry Mover' by S&P Global.
Fosun International successfully completed the refinancing of its USD804 million loan, obtaining a new syndicate loan of USD597 million and repaying the remaining through its own funds. The collaboration with banking partners resulted in the largest syndicated loan for a Chinese privately-owned enterprise this year, showcasing Fosun's strong liquidity and support from domestic and foreign banks.
Fosun has diversified financing channels, solid financing capabilities, and prudent financial policies. The company aims to optimize its debt structure, strengthen liquidity management, and focus on core business strategies for steady development.
FAQ
What is the current stock price of FOSUN INTL UNSP/ADR (FOSUY)?
What is the market cap of FOSUN INTL UNSP/ADR (FOSUY)?
When was Fosun International Limited founded?
What is Fosun International's mission?
What are the key focus areas in Fosun's sustainable development strategy?
How does Fosun contribute to society through innovation?
What social value does Fosun's Foundation create?
How does Fosun integrate ESG into its corporate governance?
