Fosun International Ltd - FOSUF STOCK NEWS

Fosun International announced its 2022 annual results, highlighting a total revenue of RMB175.39 billion, up 8.7% year-on-year. Overseas revenue reached RMB77.4 billion, representing a 14% increase and making up 44% of total revenue. The company invested RMB10.4 billion in R&D, marking a 17% rise. However, net profit was RMB0.54 billion, a sharp decline from RMB10.08 billion in 2021 due to high business costs and market downturns. Fosun has focused on divesting non-core assets, generating cash inflows of nearly RMB30 billion to stabilize operations. As of January 2023, they secured a RMB12 billion syndicated loan.

On January 9, 2023, Fosun Foundation partnered with Fosun Pharma and Genuine Biotech to donate RMB100 million worth of Azvudine tablets aimed at combating COVID-19 in rural areas during the peak season following Chinese New Year. By January 29, 173,200 bottles were distributed across 116 counties in 19 regions, benefiting approximately 150,000 villagers, notably seniors over 65. The initiative faced challenges in logistics and timely distribution, but volunteer efforts facilitated the delivery process. Additionally, Fosun Foundation is enhancing the skills of rural doctors through specialized training and providing essential medical supplies and digital healthcare systems.

The inaugural World Design Cities Conference (WDCC) was held in Shanghai from September 15-18, 2022, organized by the Shanghai Municipal People's Government. Fosun and its subsidiary Yuyuan showcased innovative designs across various sectors, aiming to enhance Shanghai's status as a global design hub. Key projects discussed included the 'Oriental Life Aesthetics Design Demonstration Hub,' aimed at promoting cultural and creative industries. With significant support from Shanghai's government, Fosun is committed to integrating history with modern design to foster a happy ecosystem for families worldwide.