Fosun International's total revenue in 2022 amounted to RMB175.39 Billion, up 8.7% Year-on-year

HONG KONG, March 30, 2023 /PRNewswire/ -- 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."