Fosun International 0656

Fosun International 0656

Postby winston » Sun Jul 27, 2008 11:03 pm

Fosun set for 'substantial increase' in profit

Conglomerate Fosun International (0656) has posted a positive profit alert, saying net profit for the six months ended June 30 will substantially increase in comparison with that for the same period a year ago.

It attributed the performance to the high profit contribution from its pharmaceuticals, steel and mining businesses. First-half profit last year rose 99 percent to 826.6 million yuan (HK$944.3 million).

Fosun also said its Shanghai-listed subsidiary Shanghai Fosun Pharmaceutical will report a more than 100 percent increase in net profit for the six months ended June. Its net profit for the same period last year was 202.6 million yuan.

The company said it will announce interim results in due course.
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Re: Fosun International 0656

Postby winston » Thu Dec 25, 2008 9:02 pm

Fosun has also been steadily increasing their stake in Shanghai Forte..

================================================

Fosun pays US$150m to become top Focus Media shareholder


Fosun International, a Shanghai-based based investment company, paid US$150.1 million (HK$1.17 billion) for a 13.3 percent stake in Focus Media Holding, to become the biggest shareholder in the mainland advertising company.

Fosun bought 17.3 million American depositary shares of Focus Media between November 17 and December 22 on the Nasdaq Stock Market, the investor said in a statement to the Hong Kong stock exchange.

On December 22, Fosun doubled its stake in Shanghai-based Focus Media after the shares fell 16 percent on the announcement the advertising company would sell its digital out-of-home operations to Sina Corp for about US$1.3 billion.

Fosun in October paid HK$632.5 million to buy more than 10 percent of Shanghai Forte Land.

BLOOMBERG
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Re: Fosun International 0656

Postby winston » Fri Jan 23, 2009 10:00 am

DJ Fosun International: 2008 Profit To Fall On Economic Downturn

HONG KONG (Dow Jones)--Fosun International Ltd. (0656.HK) said late Thursday that it expects 2008 profit to decline in comparison with 2007 because of adverse economic conditions and a drop in non-recurring income. The property-to-retail conglomerate didn't specify in the statement the extent of the profit decrease.

The company recorded a net profit of CNY3.35 billion in 2007. It said it believes its financial position remains solid and that it is "well-positioned to weather the current difficult environment and to capitalize on any potential opportunities that may present." Fosun International is the parent of Fosun Group, which holds stakes in Hong Kong-listed developer Shanghai Forte Land Co. (2337.HK) and gold miner Zhaojin Mining Industry Co. (1818.HK).
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Re: Fosun International 0656

Postby winston » Thu Mar 12, 2009 10:42 am

DJ MARKET TALK: Fosun May Fall After FY Pft Down 60.4%,Below View

0911 [Dow Jones] Fosun (0656.HK) may fall after posting weak results, with FY net profit down 60.4% on-year at CNY1.33 billion, vs CNY2.83 billion-CNY3.53 billion range tipped by Thomson Reuters' poll of 3 analysts. Decline mainly due to sharply lower profit from property development (down 85.0%) and steel businesses (down 93.6%), despite strong gains in pharmaceuticals (+58.9%) and mining (+116.7%); property, steel segments contribute 9.3%, 76.8% to its revenue in 2008, respectively.

Quick earnings recovery unlikely as steel sector faces falling demand, lower prices amid weakening economy; fellow steel producer Maanshan Iron (0323.HK) said Saturday it posted "small loss" for January, February; Shougang Steel has also said it expects a steel price recovery to take a while. China's steel exports also fell to 52-month low in February on dwindling overseas demand, negative profit margins.

Final dividend lower at 8 HK cents vs 17 HK cents previously, unlikely to support shares much. Stock ended +2.2% at HK$2.28 Wednesday, psychological HK$2.00 likely a strong support near-term.
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Re: Fosun International 0656

Postby winston » Tue Mar 17, 2009 11:35 am

DJ MARKET TALK:MS Starts Fosun Intl At Equalweight,Target HK$2.40

1016 [Dow Jones] STOCK CALL: Morgan Stanley starts Fosun International (0656.HK) at Equalweight with target price at HK$2.40. Says although near-term concerns on weaker demand and steel prices set to weigh on stock price, valuation of 7X FY10 P/E seems compelling vs both history and peers.

Adds, house's 2009 earnings estimates are 54% below Street's, as it sees downside to Fosun's steel and mining businesses. Tips no recovery for steel prices in near term. Notes house commodities team expects weak steel prices in 2009 as demand slows, although prices could bottom this year.

Expects in next few years, steel and property businesses should benefit from sector consolidation, and pharmaceutical business should get boost from government healthcare reform. Stock flat at HK$2.38.
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Re: Fosun International 0656

Postby winston » Thu Jun 11, 2009 9:49 am

DJ MARKET TALK: Citi Ups Fosun Intl Target To HK$6.35 Vs HK$2.85

1520 [Dow Jones] STOCK CALL: Citigroup raises Fosun International (0656.HK) target price to HK$6.35 from HK$2.85 after rolling forward NAV to 2010 from 2009, applying 15% NAV discount vs previous 35% discount. Keeps at Buy, only Buy in China conglomerate coverage on undemanding valuation; says while NAV discount narrowing on recovery in both steel, property sectors in China, Fosun lagging behind pure-plays in recovery cycle.

Raises 2009-11 earnings forecasts by 2%-21% after removing 15% discount previously applied to average selling price assumptions on Forte's property development projects; also expects Nanjing Steel United's sales to not be as bad, reduces forecast 2009 sales decline to 10% from 20%. Shares +3.2% at HK$4.85.
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Re: Fosun International 0656

Postby winston » Mon Jun 29, 2009 12:28 pm

CHINA SECURITIES JOURNAL

-- Fosun International (0656.HK) Chief Executive Officer Liang Xinjun said the company, with 10 billion yuan ($1.46 billion) in cash, will step up investment in the pharmaceutical, media, consumer goods, retail and advertising sectors and will seek opportunities to buy undervalued shares of overseas-listed Chinese companies.
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Re: Fosun International 0656

Postby winston » Thu Dec 24, 2009 7:25 am

Not vested. From Dr. Check, The Standard HK:-

Diversified mainland group still proud after plunge

Stocks may bring Christmas cheer if you look carefully.

Consider Fosun International (0656), a holding company with investments in medicine, property, steel, mining, retail and services.

The group has made timely optimal adjustments to the structure of its asset portfolio according to market changes.

Its pharmaceutical business through Fosun Pharma - a unit listed in Shanghai - is doing well and will contribute 1.98 billion yuan (HK$2.25 billion) in profit. Half of it will be booked under Fosun. Newly listed associate Sinopharm Holding (1099) is expected to grow rapidly. Fosun's property development business is conducted through Forte (2337).

Fosun is the largest shareholder of Nasdaq-listed Focus Media, one of the mainland's largest digital media groups.

It also holds 15 percent of Zhaojin Mining (1818) through Yuyuan and 20 percent of Chinese fast-food chain Old Uncle Catering through Fosun Pharma.

Many companies in the group have listing potential. These include Yuyuan in the retail and services industries. UBS has a "buy" rating with a target price of HK$7.

The stock has fallen 20 percent from September. So it looks reasonable.

http://www.thestandard.com.hk/news_deta ... 91224&fc=7
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Re: Fosun International 0656

Postby winston » Thu Dec 24, 2009 9:22 am

DJ Fosun: Aim To Boost Investment In Pharmaceuticals, Services
November 19, 2009

SHANGHAI (Dow Jones)--Fosun International Ltd. (0656.HK), one of China's largest privately owned conglomerates, said it aims to double the proportion of its investments in China's pharmaceuticals and services sectors in anticipation of rising consumer demand in coming years.

The Hong Kong-listed company also hopes to enter China's asset management industry by launching fund management businesses such as private-equity and real estate funds, and by investing in a mutual fund company when the Chinese government further relaxes restriction on foreign investments in this area, Fosun Chief Executive Xinjun Liang said Tuesday.

The company derives around 60% of its net profit from its steel businesses, but it has been increasing investments in the consumer sector as part of a shift in its business strategy.

'During the next six to seven years, China will see explosive growth in domestic demand, in a way similar to the explosive growth of the real estate sector over the past 10 years,' Liang said.

'This means increasing allocation to domestic demand- related investments is necessary.'

Liang said Fosun's investments in pharmaceuticals and the services sector account for around 25% of its assets. He said the company aims to eventually increase the proportion of its investments in the sectors to more than 50% in the long term, without providing an exact timetable.

As part of a shift away from its traditional businesses, the company invested CNY56 million for a 20% stake in Chinese fast food chain Old Uncle in the past year, as well as other unlisted companies including a pig farmer, said Andy Pan, Fosun's chief representative in Hong Kong.

The company makes investments mainly using its own funds. The firm, which has 20-30 investments in its portfolio in companies that are preparing initial public offerings, makes annual investments of US$100 million to US$150 million, Pan said. It typically divests two to three of its investments a year through the equity market, he said.

In a media briefing Tuesday, Liang also said the company continues to look for overseas mines to invest in, though it has made no decisions yet because the prices are still too expensive.

Fosun International's listed units and affiliates include drug maker Shanghai Fosun Pharmaceutical (Group) Co. (600196.SH), Chinese property developer Shanghai Forte Land Co. (2337.HK), and advertising company Focus Media Holding Ltd. (FMCN).

Source: Joy C. Shaw, Dow Jones Newswires
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Re: Fosun International 0656

Postby winston » Tue Jan 12, 2010 12:47 pm

Not vested.

DJ MARKET TALK: Fosun International +3.9%; Expects FY09 Pft Jump

1221 [Dow Jones] Fosun International (0656.HK) +3.9% at HK$6.36 after touching HK$6.45 intraday peak, boosted by news it expects FY09 net profit to "increase significantly" vs CNY1.33 billion in FY08, without specifying likely magnitude of earnings rise.

Trader likens Fosun to Citic Pacific (0267.HK) in that both have steel operations, mainland property exposure; believes conglomerates currently not "investors' darlings."

Fosun says reasons for earnings jump include fair value gain on equity investments, share of gains in Sinopharm (1099.HK) listing; difficult to determine quality of fair value gain, while Sinopharm disposal gain non-recurring.

Source: Dow Jones Newswire
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