Fosun International 2024 Annual Results Presentation: Aiming for RMB10 Billion in Future Industrial Operation Profit
HONG KONG and SHANGHAI, April 2, 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. The results presentation was attended by Guo Guangchang, Chairman of Fosun International, Wang Qunbin, Co-Chairman of Fosun International, Chen Qiyu and Xu Xiaoliang, Co-CEOs of Fosun International, Gong Ping, CFO of Fosun International, and a number of institutional investors and analysts.
In 2024, Fosun International achieved total revenue of RMB192.14 billion, with industrial operation profit, a key indicator for corporate operational performance, reaching RMB4.9 billion; overseas revenue proportion increased from 45% to 49.3%. During the reporting period, loss attributable to owners of the parent amounted to approximately RMB4.35 billion, mainly due to a non-cash impairment loss related to the Cainiao investment. Fosun's investment in Cainiao was approximately RMB1.5 billion and the proceeds from divestments reached approximately RMB4.4 billion, yielding an internal rate of return of approximately 34%. Excluding the effect of the carrying value adjustment, the profit attributable to owners of the parent in 2024 amounted to RMB750 million.
Addressing investors' concerns about profitability, Guo Guangchang, Chairman of Fosun International, responded at the results presentation 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, and Fosun's industrial operation profit and operating cash flows stay healthy and stable. Management must remain committed and work diligently to maintain the Company's steady development in the future.
In 2024, Fosun had been advancing the business streamlining strategy and pursuing "strategic advancements and exits, and balanced investment and divestment". Wang Qunbin, Co-Chairman of Fosun International, stated, in 2024, Fosun divested from some asset-heavy projects and non-core operations, and leveraged industries where it holds competitive advantages, such as biopharmaceuticals, and tourism and culture. Fosun steadily intensified efforts in implementing the asset-light strategy and collaborating with key partners. This includes the establishment of a biopharmaceutical industry fund in Shenzhen, the Taicang Alps Resort Phase II project, Fosun Tourism Group's launch of Club Med in Jinsha Bay in Shenzhen, the ULTRAMED Hainan project ...
https://www.benzinga.com/pressreleases/25/04/n44600249/fosun-international-2024-annual-results-presentation-aiming-for-rmb10-billion-in-future-industrial