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HONG KONG, Sept. 14, 2022 /PRNewswire-=KYODO JBN/ --

In response to foreign media reports about "Chinese regulatory authorities

asking banks and some of the state-owned companies to examine their exposure to

Fosun" on 13 September, Fosun said such reports are completely false.

It is understood that Fosun has sought confirmation from regulatory authorities

through multiple channels. The China Banking and Insurance Regulatory

Commission (CBIRC) has not asked commercial banks to check about their

financial exposure on Fosun, and many commercial banks that cooperate with

Fosun have never received relevant notices.

Gong Ping, Executive President and CFO of Fosun International, said, "Fosun's

recent seemingly frequent reductions in shareholdings and divestments are a

continuation of its financial strategy of balancing investment and divestment

in the past few years. Fosun has been dynamically sorting and optimizing its

asset portfolios. Such moves are not just for coping with the current market

environment. However, we noticed that the complex external environment has

raised public opinion on the disposal of the Group's assets, resulting in a

one-sided interpretation of such asset disposal, while neglecting the Group's

general principle of asset optimization, which is our long-term dynamic asset

optimization."

According to the interim results announced on 30 August, Fosun's four major

business segments of Health, Happiness, Wealth, and Intelligent Manufacturing

demonstrated resilience. In the first half of the year, Fosun achieved

sustainable revenue growth, its total revenue reached RMB82.89 billion,

representing a year-on-year increase of 17.7%. Its enterprise operation profit

increased by 35.5% year-on-year. Meanwhile, the Group's funds remained stable.

As at the end of the reporting period, cash, bank balances and term deposits

were abundant, amounting to RMB117.65 billion; the adjusted NAV remained stable

at HK$24.2 per share.

SOURCE: Fosun