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.
Fosun International reported a 17.7% increase in revenue, amounting to RMB82.89 billion for the first half of 2022. The company clarified that its actual debt is RMB100 billion, significantly lower than the market's perception of RMB650 billion. This figure includes liabilities from subsidiaries, not all of which are directly tied to Fosun itself. Morgan Stanley has maintained an "Overweight" rating with a target price of HK$11.4, citing that Fosun is well-positioned to manage its debts and has liquid assets for near-term obligations.
On September 14, 2022, Fosun refuted foreign media claims regarding Chinese regulatory authorities probing banks about their exposure to the company. Fosun confirmed that the China Banking and Insurance Regulatory Commission had not issued any such requests. Gong Ping, CFO, emphasized that recent shareholdings reductions are part of a strategic asset optimization rather than a reaction to market pressures. For the first half of the year, Fosun reported a revenue increase of 17.7% to RMB82.89 billion and a 35.5% rise in enterprise operation profit, with stable cash balances of RMB117.65 billion.
Fosun International reported strong financial results for the first half of 2022, achieving total revenue of RMB82.89 billion, up 17.7% year-on-year. Net profit attributable to owners reached RMB2.70 billion, while enterprise operation profit rose 35.5% to RMB2.33 billion. Overseas revenue increased by 30.7%, contributing 46.8% of total revenue. The Group invested RMB4.6 billion in technology and innovation, marking a 21% increase. Fosun's diversified segments in health, happiness, wealth, and intelligent manufacturing all reported revenue growth, indicating resilience amid external challenges.
Fosun International and HSBC China renewed a strategic cooperation agreement to enhance global operations, investment capabilities, and financial resources. The agreement, signed by top executives at Fosun's Bund Finance Center in Shanghai, aims to support economic growth and the development of private enterprises. Fosun reported a total revenue of RMB161.3 billion and total assets of RMB806.4 billion in 2021. The collaboration is expected to bolster Fosun's four business segments: Health, Happiness, Wealth, and Intelligent Manufacturing, while continuing efforts in pandemic prevention and economic development.
Fosun participated in the 2nd China International Consumer Products Expo (CICPE) on July 26, showcasing over 15 renowned global brands. The event attracted more than 1,000 companies from 61 countries. Fosun's Lanvin Group reported a remarkable 108% rise in global sales, reaching EUR339 million in 2021, up 52% from 2020. Fosun Tourism Group's business volume is projected to increase by 198% in the first half of 2022, with Club Med achieving a 336% rise. Fosun's innovation investments reached RMB8.9 billion in 2021, revealing its commitment to driving growth across diverse sectors.
UBS has assigned a 12-month target price of HK$9.1 for Fosun International, representing a 26% increase from its closing price of HK$7.25 on June 30. UBS believes Fosun can manage near-term refinancing risks through reduced investments and increased asset disposals. The company has successfully refinanced its bonds, and UBS notes that non-core investments can cover refinancing needs in the next year. Moreover, S&P Global Ratings maintains a 'BB Stable' credit rating for Fosun, highlighting its strong debt management. Fosun reported a total debt to capital ratio of 53.8% and historically low debt costs.
Fosun has reported a significant recovery across its business sectors following the easing of epidemic restrictions in Shanghai. As of June 29, dine-in services at the Bund Finance Center have resumed, contributing to an economic rebound. Yuyuan's Jewelry & Fashion segment saw sales rise over 100% year-on-year, while Fosun's tourism operations experienced increased visitor flows, particularly in Sanya. Internationally, Club Med bookings surpassed 2019 levels. Additionally, Fosun Pharma achieved collaborations for drug commercialization in China, indicating growth in its health segment.
Fosun's 28 Liberty Plaza in New York has successfully hosted multiple community events since early June 2022, promoting arts and culture access to thousands. Notable events include the Sing for Hope Pianos pop-up on June 3, featuring free concerts and artist-designed pianos, and the Dine Around Downtown food festival, which returned after two years, showcasing 35 restaurants on June 7. The River to River Festival showcased contemporary art installations from June 12-26. Fosun celebrates its 30th anniversary by enhancing community engagement and corporate social responsibility efforts.
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?
