HONG KONG and SHANGHAI, April 1, 2025 /PRNewswire/ -- On 1 April 2025, Fosun International Limited (HKEX stock code: 00656, "Fosun International"), together with its subsidiaries ("Fosun" or the "Group") held its 2024 annual results presentation in Shanghai. Addressing investors' concerns about profitability, Guo Guangchang, Chairman of Fosun International, responded that the financial adjustment in 2024 is not due to Fosun's poor operations or decline in market competitiveness, but rather a one-off carrying value adjustment. Nonetheless, Fosun's operations remain stable and its core businesses are under healthy development.
He stated that, excluding the carrying value adjustment of the Cainiao investment, Fosun's industrial operation profits and operating cash flows stay healthy and stable. Management must nevertheless remain committed and work diligently to maintain the Company's steady development in the future.
Guo Guangchang said that, in 2024, Fosun had been advancing the business streamlining strategy and pursuing "strategic advancements and exits, and balanced investment and divestment". During the year, Fosun promoted the privatization of Fosun Tourism Group and Henlius. While it is unfortunate that minority shareholders voted against the privatization of Henlius, he expressed gratitude to them, as their decision reflects their confidence in Henlius.
"Henlius is one of Fosun's most promising companies with the greatest potential, and we are optimistic about its potential to achieve product sales of USD10 billion in the future. It represents the future 'Mount Everest' of Fosun, symbolizing its most strategic advantages, and we will provide full support for its development. Fosun has always placed a strong emphasis on innovation, as well as on companies and products with significant growth potential. In our approach to 'strategic advancements and exits', we aim to divest from heavy assets and non-core operations, while pursuing advancements in innovative industries that offer immense potential and vast opportunities," said Guo Guangchang.
Regarding changes in the global landscape, Guo Guangchang noted that geopolitics affects all companies, and there is no escaping it. The key lies in how a company responds. The best approach is to develop globalization capabilities. For more than ten years, Fosun has consistently focused on building globalization capabilities, and today Fosun is increasingly reaping the rewards. In 2024, Fosun International's overseas revenue accounted for 49.3% of its total revenue. On the one hand, Fosun's globalization strategy promotes Chinese companies and advantageous industries to go global. On the other hand, it helps Fosun's overseas companies expand globally. For example, Fosun Insurance Portugal currently has 29.8% of its income from markets outside Portugal, with international business profits contributing over 50%.