PR99861

HONG KONG, March 30, 2023 /PRNewswire=KYODO JBN/ --

Fosun International Limited (HKEX stock code: 00656, "Fosun International"),

together with its subsidiaries ("Fosun" or the "Group"), today announced its

annual results for the year ended 31 December 2022 (the "Reporting Period").

In 2022, the increasingly sophisticated macro environment, the US dollar

interest rate hikes, and geopolitical tensions continued to disrupt the

economy. Fosun firmly implemented a focused strategy, continued to lay the

solid foundation for its development, and achieved steady development in its

core businesses. During the Reporting Period, the Group achieved a total

revenue of RMB175.39 billion, representing a year-on-year increase of 8.7%.

Focusing on the needs of global families in health, happiness, and wealth, the

four core subsidiaries, namely Yuyuan, Fosun Pharma, Fosun Insurance Portugal,

and Fosun Tourism Group (FTG) continued to enhance their products and services,

accounting for 72% of the Group's total revenue. Among them, FTG's revenue

increased significantly by 49% to RMB13.78 billion. Due to the recurrent

outbreak of COVID-19 pandemic in 2022 and the turmoil and downturn of the

international capital markets, resulting in high business costs and an increase

in floating losses in secondary capital market investment, the Group's overall

industry operations and industrial investment have been affected to varying

degrees. During the Reporting Period, the net profit attributable to owners of

the parent amounted to RMB0.54 billion.

During the Reporting Period, Fosun continued to optimize its capital and asset

structure by actively managing its debt to effectively cope with violent

fluctuations in the capital market and maintain resilient liquidity. As of the

end of the Reporting Period, cash and bank balances and time deposits were

abundant, amounting to RMB100.56 billion; the ratio of total debt to total

capital was 53.2%, and down 3.6 percentage points compared to mid-2022; the

average cost of debt was at a low level of 4.7%; the adjusted NAV was HK$21.6

per share.

It is worth mentioning that in January 2023, the Group entered into a

syndicated loan agreement for an amount of RMB12 billion with eight domestic

banks, which was the largest private corporate syndicated loan led by five

major state-owned banks in cooperation with policy banks and joint-stock banks

since the announcement of "encouraging and supporting the development of the

private economy and private enterprises" at the Central Economic Working

Conference held in December 2022.

In 2022, Fosun's global operations capability was further enhanced, with

overseas revenue amounting to RMB77.4 billion, representing a year-on-year

increase of 14% and accounting for 44% of the total revenue. As of the end of

the Reporting Period, Fosun had 43 overseas brand enterprises and more than

45,000 overseas employees. The Group's R&D investment reached RMB10.4 billion,

representing a year-on-year increase of 17%; as of the end of 2022, Fosun had

1,771 patents for inventions.

The synergy capability of Fosun's FC2M global ecosystem was further enhanced,

highlighting the multiplier effect of the ecosystem. During the Reporting

Period, the Group's ecosystem has created a total value of more than RMB6.9

billion, and has 133 products that generated more than RMB100 million sales for

each, and among them 22 were new products; 50.8 million new registered members

during the year, representing a year-on-year increase of 27%. Among them, the

two top C-end platforms continued to facilitate the rapid and high-quality

growth of members. During the Reporting Period, Fosun Health acquired 9.24

million registered users, bringing the cumulative number of registered members

to 22.58 million. As of the end of the Reporting Period, Fosun Alliance has

accumulated 6.4 million registered members.

Since the beginning of 2023, businesses in consumer and tourism sectors have

shown a strong upward trend. In 2023, the Yuyuan Garden Lantern Festival which

received wide recognition in Chinese mainland and overseas became the talk of

the town and attracted more than 4 million visits, effectively driving

consumption in the area. Fosun's tourism business has rebounded rapidly,

Atlantis Sanya, a subsidiary of FTG, its business has fully recovered and

surpassed the level before the pandemic, recorded a business volume of RMB399

million in the first two months of 2023, representing an increase of 10%

compared to the same period of 2022, the average occupancy rate by room reached

96%. The business volume of Club Med and Lijiang FOLIDAY Town increased by 55%

and 149% respectively compared to the same period in 2022.

Guo Guangchang, Chairman of Fosun International, said: "Fosun firmly promoted

the strategy of focusing on its core businesses, made clear the positioning of

"a global innovation-driven consumer group" and the mission of "serving one

billion families worldwide". In the future, we will continue to strengthen

innovation, deepen global operations, and refine more good products and

services. With our endeavors, we hope to create happier lives for families."

SOURCE  Fosun