Fosun Internatio - FOSUY STOCK NEWS

Fosun participated in the 7th China International Import Expo (CIIE), showcasing its latest healthcare innovations at the Fosun Pharma booth. The company highlighted several breakthrough products, including the Ion Robotic Bronchoscopy system, which received domestic approval in March 2024 and completed its first commercial application in September. The company also presented the new V2 model of the Exablate Neuro FUS system for treating neurological disorders. Fosun's participation has helped transform many exhibits into market-ready products, with the company investing RMB 3.5 billion in technological innovation in the first half of the year.

Fosun International (FOSUY) and Standard Chartered China signed a memorandum of understanding for strategic cooperation during the Seventh China International Import Expo. The agreement aims to expand their global market cooperation, particularly in 'Belt and Road' markets. Standard Chartered will provide comprehensive financial services, including cash management, trade financing, and sustainable financial solutions to support Fosun's global operations. This marks their third strategic cooperation memorandum since their initial partnership in 2007. Fosun International maintains operations in over 35 countries, serving both family and corporate customers through its global business presence.

Fosun International has been awarded the 'Best Environmental, Social and Governance Reporting Awards' by The Hong Kong Management Association (HKMA) on November 1, 2024. The company was recognized alongside nine other major enterprises for its outstanding ESG performance and disclosure practices. Fosun has implemented its sustainable development strategy 'Create IMPACT' and established comprehensive ESG governance structures. The company has committed to peak carbon emissions by 2028 and achieve carbon neutrality by 2050. Fosun's ESG excellence is reflected in its MSCI ESG AA rating, making it the only conglomerate in Greater China to achieve this distinction. The company also ranked in the top 1% in S&P Global's Sustainability Yearbook 2024 (China Edition).

Fosun, a Chinese private enterprise, is intensifying its global operations in the Middle East. Recent activities include:

• Roc Oil's offer to acquire Tethys Oil AB for RMB 1.302 billion
• Hainan Mining's MoU with Ajlan & Bros Holding for a lithium salt plant in Saudi Arabia
• FFT's joint venture with Khaled Juffali Company in Saudi Arabia
• Club Med's entry into Oman with the Club Med Musandam project

Fosun's overseas revenue reached RMB 45.87 billion in H1 2024, a 4% YoY increase, accounting for 47% of total revenue. The company operates in over 35 countries and regions globally. Fosun's Chairman, Guo Guangchang, emphasizes the company's role as a strategic partner for Middle Eastern businesses, leveraging its global operational capabilities and deep roots in the Chinese market.

Fosun International has successfully completed a USD888 million sustainability-linked syndicated loan, one of the largest of its kind for a Chinese privately-owned enterprise in 2024. The loan, initially launched in May with a first close of USD603 million, was followed by Greenshoe accessions. 25 banks participated in the syndicate, including both long-term partners and new lenders from various countries.

This loan is part of Fosun's flagship financing platform, continuing its annual tradition of 3-year syndicated loans since 2017, with sustainability-linked features incorporated since 2023. The successful completion demonstrates Fosun's strong support from both Chinese and foreign banks, as well as its commitment to ESG initiatives.

Fosun aims to continue implementing its core business-focused strategy, improve operating capabilities in advantageous industries, and optimize its debt structure and liquidity management for steady future development.

Fosun International (HKEX: 00656) has received an AA- HSI ESG Rating for two consecutive years, highlighting its strong sustainability performance. The company has been selected as a constituent stock of the Hang Seng Corporate Sustainability Benchmark Index for five consecutive years. Fosun outperformed 90% of global enterprises in four core areas: Corporate Governance, Environment, Consumer Issues, and Community Involvement and Development.

Fosun has established a robust ESG governance structure and management system, integrating sustainable development principles into its operations. The company has committed to peaking carbon emissions by 2028 and achieving carbon neutrality by 2050. Fosun is the only conglomerate in Greater China rated AA by MSCI ESG Ratings and outperformed 94% of its global peers in the S&P Global Corporate Sustainability Assessment. The company was also included in the FTSE4Good Index Series and ranked in the top 1% of S&P Global's Sustainability Yearbook 2024 (China Edition).

Fosun International, a global consumer group, reported its 2024 interim results, highlighting its focus on globalization, innovation, and asset-light operations. Chairman Guo Guangchang emphasized the company's commitment to building a consumer-centered group with predictable development and profits. Fosun's overseas revenue accounted for 47% of total revenue, with plans for further increase. The company reported revenue of RMB97.84 billion and profit attributable to owners of RMB720 million. Fosun is streamlining its business, adopting an asset-light strategy, and focusing on core industries to achieve investment-grade ratings. The Group's adjusted total debt-to-capital ratio was 50.2%, continuing a downward trend since 2020.

Fosun International reported its 1H2024 results, showing total revenue growth to RMB97.84 billion and industrial operation profit of RMB3.47 billion. Key highlights include:

- Four core subsidiaries generated 74% of total revenue at RMB72.17 billion
- Adjusted debt-to-capital ratio decreased to 50.2%
- Overseas revenue reached RMB45.87 billion, 47% of total
- R&D investment of RMB3.5 billion
- Asset-light operations expanded, with Club Med's self-owned resorts reduced to 15%

The company maintained its strategic focus on core businesses, innovation, and globalization while optimizing its asset portfolio and reducing leverage. Fosun aims to continue developing industry-leading companies and products in its advantageous sectors.

Guo Guangchang, Chairman of Fosun International, reaffirmed the company's commitment to its globalization strategy at the 2024 Semi-Annual Working Meeting. Fosun, with a 17-year history of global expansion, now operates in over 35 countries. In 2023, overseas revenue reached RMB89.2 billion, accounting for 45% of total revenue, with a 10-year CAGR of 55%.

Key global successes include Club Med, a major revenue source for Fosun Tourism Group, and Fosun Pharma's expansion into African markets. Shanghai Henlius, a Fosun Pharma subsidiary, has gained international recognition for innovative drugs. Fidelidade, an overseas member company, increased its premium percentage in overseas markets from 6% in 2017 to 33% in 2023.