Fosun International 0656

Re: Fosun International 0656

Postby winston » Sun Jul 29, 2012 4:43 pm

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Profit Warning

The Board wishes to inform the shareholders of the Company and potential investors that the Consolidated Profit for the half year ended 30 June 2012 is expected to decrease substantially in comparison with that of the same period of last year.

The Board considers that the deterioration in the performance of the Group is mainly attributable to

(i) the substantial decrease in comparison with that of the same period of last year in the gain on fair value adjustment on certain equity investments at fair value through profit or loss held by the Company; and

(ii) the domestic economic growth has slowed down and the steel demand was sluggish. The selling price of steel products reduced
substantially in comparison with that of the same period of last year, and this reduction rate was higher than the decrease in price of raw materials and fuels, causing that the results of the steel segment in the first half year dropped significantly as compared with that of the same period of 2011.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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Re: Fosun International 0656

Postby winston » Wed Aug 29, 2012 7:01 pm

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FOSUN INTL (00656.HK) IR NP down 54.4% to RMB1.55B

FOSUN INTL (00656.HK) announced for the half year ended June, the revenue rose 0.63% to RMB25.73 billion;

Net profit fell 54.4%
to RMB1.55 billion, representing EPS of 24 fen.

No interim dividend was declared.


Source: AAStocks Financial News
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Re: Fosun International 0656

Postby winston » Tue Jun 24, 2014 4:29 am

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Movie action adds to Fosun storyline

Tuesday, June 24, 2014

Fosun International (0656), controlled by mainland billionaire Guo Guangchang, is investing in a filmmaker founded by the former president of Warner Bros Pictures, to help tap into growing demand in China.

The Shanghai-based company signed an agreement to invest in Jeff Robinov's Studio 8, Fosun announced yesterday.

Robinov spent 17 years at California-based Warner Bros, including a last stint as film chief.

Chinese demand for entertainment in general and movies in particular has grown in tandem with rising income. Its movie market has passed Japan to be second largest in the world.

The partnership will allow Fosun to produce films with Studio 8 and give it significant influence over the distribution of the movies in the China region.

Robinov, who stepped down last June, has overseen movies such as The Dark Knight trilogy, and Oscar-winning films Gravity and Argo, Fosun noted.

A conglomerate involved in sectors from real estate to pharmaceuticals, Fosun has spent US$3.2 billion (HK$24.8 billion) on overseas acquisitions over the past three years

Source: BLOOMBERG
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Re: Fosun International 0656

Postby winston » Mon May 11, 2015 11:20 am

Fosun International to Sell $1 Billion Shares in Hong Kong

Fosun International Ltd., the investment arm of China’s biggest closely held conglomerate, plans to raise $1 billion for general corporate purposes and for mergers and acquisitions in the insurance industry.

The company will sell the shares at HK$19.48 to HK$20.32 each, according to a term sheet obtained by Bloomberg.

The shares will be sold at a 3 percent to 7 percent discount to the last closing price.

Source: Bloomberg
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Re: Fosun International 0656

Postby winston » Tue May 12, 2015 5:04 am

Fosun to rebuild war chest

Fosun International (0656) plans to raise up to HK$9.36 billion in a local SHARE offering, tapping equity markets to rebuild its war chest after a series of takeovers in recent months.

The mainland conglomerate, founded by billionaire Guo Guangchang, plans to sell HK$7.8 billion worth of new SHARES in an indicative range of HK$19.48 to HK$20.32 a share, according to a term sheet of the deal.

The share sale may increase by HK$1.56 billion if there is additional demand. Guo's conglomerate is emerging as one of China's most acquisitive private-sector companies, picking up a wide range of global assets in the past two years.

Fosun entered into nearly US$8 billion (HK$62.4 billion) worth of deals in 2014 and in 2015, including an US$1.8 billion transaction last week to buy the 80 percent stake it does not already own in US insurer Ironshore.

TRADING of Fosun shares was halted yesterday. The firm is offering the new shares at a discount of up to 7 percent to Friday's market close, looking to benefit from a rally that has more than doubled the price of the company's shares since the start of the year.

Source: REUTERS
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Re: Fosun International 0656

Postby winston » Fri May 29, 2015 6:33 am

Fosun to focus on insurance

Chinese conglomerate Fosun International (0656) said it will focus on developing its insurance BUSINESS and seek overseas acquisitions in the future.

Chairman and executive director Guo Guangchang hopes to turn Fosun into an investment company in the manner of Warren Buffett. "We will look for opportunities of mergers and acquisitions for sure in the future, as well as a variety of INVESTMENTS," Guo said.

The insurance business accounted for 35 percent of the firm's total assets last year. Guo hopes to raise this to 50 percent by December. Total assets of the group's insurance business exceeded 100 billion yuan (HK$125.03 billion) last year. "We hope to double the amount this year-end," he said.

Fosun holds 25 percent of Zhejiang Internet COMMERCE Banking, which got the green light to operate yesterday. Alibaba has a 30 percent stake in the venture and Guo expects the business to grow quickly

Source: The Standard
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Re: Fosun International 0656

Postby winston » Tue Jun 16, 2015 4:55 am

Fosun in tourism VENTURE

British travel agent THOMAS COOK said it has agreed to set up a joint venture with Fosun International (0656) to develop domestic, inbound and outbound tourism
ACTIVITIES for the Chinese market under Thomas Cook brands.

The joint venture will be 51 percent owned by Fosun and 49 percent by Thomas Cook.

The companies will make a combined CASH contribution of 1.6 million (HK$19.27 million) to support the initial start-up phase, of which Thomas Cook will contribute about half. In a separate statement, Fosun said it will cooperate with Cirque du Soleil to launch performances in the Daguan Theater of the Shanghai Himalayas Centre.

Fosun partnered with TPG, a US private equity group, to INVEST IN Cirque du Soleil, and became its controlling shareholders two months ago.

Fosun has been developing its PLATFORM to target health and lifestyle trends.

"Our partnership with Cirque is a milestone, " Fosun chairman Guo Guangchang said.

Source: REUTERS
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Re: Fosun International 0656

Postby winston » Tue Jul 21, 2015 7:01 am

Fosun sees growth in nursery products

Fosun International (0656), backed by Chinese billionaire Guo Guangchang, said yesterday it has joined with British upmarket nursery brand Silver Cross to bring "reliable" nursery products to the mainland.

"With the continuous growth of consumer demand in the China market, Fosun Group will be paying increased attention to investment in health consumption related industries," said the group's vice president, Chen Qiyu.

Silver Cross, founded in 1877, prides itself as a leading UK heritage brand that invented the world's first modern pram. And it is the only British firm left that still hand-makes strollers for toddlers.

The pram-maker currently operates two standalone stores in Shanghai and Hong Kong in addition to selling through a number of retail outlets. It sees Southeast Asia as a key growth market.

Fosun has been focusing on the health-care industry since last year, with four major investments including the acquisition of the entire Luz Saude health- care group of Portugal and the privatization of Club Med.

The shares fell 0.78 percent to HK$17.78 yesterday.

Source: The Standard HK
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Re: Fosun International 0656

Postby winston » Fri Dec 11, 2015 2:49 pm

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UPDATE China’s Warren Buffett Fosun Chairman Went Missing

By Shuli Ren

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... t-missing/
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Re: Fosun International 0656

Postby winston » Mon Dec 14, 2015 7:02 am

Fosun may buy back shares for stability by Daisy Wu

Fosun International (0656) vice chairman and chief executive Liang Xinjun, said if there are huge volatilities in its share price, the company will repurchase shares to stabilize the price.

Chairman Guo Guangchang is assisting a probe in Shanghai for personal reasons unrelated to the company's problems, but he will participate in the company's major decisions in many ways, Liang said in a phone meeting with media last night.

President Wang Qunbin said that the management was authorized to repurchase 10 percent of the company's shares each year.

Fosun International and Shanghai Fosun Pharmaceutical (2196), two locally listed units of Fosun Group, halted trading on Friday and will resume today.

Ample Finance Group director Alex Wong Kwok-ying expected the share prices of the two subsidiaries to stabilize at 10 to 15 percent lower this week.

"Many investors will acquire their shares at low prices, or the prices will slump much more than the 10 percent level," Wong said.

Source: The Standard
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