Fosun International 0656

Re: Fosun International 0656

Postby winston » Wed Aug 31, 2016 10:28 am

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<Result Ann>FOSUN INTL(00656.HK) Interim Net Profit Up 21.38%

FOSUN INTL (00656.HK) announced that for the interim period as of the end of June, net profit rose 21.38% yearly to RMB4.391 billion.

EPS equaled RMB0.51; no interim dividend was declared.

Source: AAStocks Financial News
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Re: Fosun International 0656

Postby winston » Thu Sep 01, 2016 6:17 am

Fosun flags health-care IPOs

Fosun International (0656), the flagship of the mainland conglomerate that owns Club Med, signaled the company will announce information related to initial public offerings of its health-care assets before the end of the year.

News about the matter and private- equity investments in health-care assets should come out during the second half of the year, group chairman Guo Guangchang said in Hong Kong. The conglomerate is parent to Shanghai Fosun Pharmaceutical Group (2196), which also trades in China.

Fosun is accelerating steps to improve its balance sheet, it said on Tuesday, as it seeks to raise its junk credit rating to investment grade.

The company reported a 21 percent increase in net income as profit more than doubled at its investment businesses and industrial operations, offsetting a decline in earnings from insurance.

"Whether it is an IPO or private equity in the health sector, you will see us make some accomplishments in the second half," Guo said. "Fosun Group has never stopped pushing for the IPO of subsidiaries to enhance our liquidity."

Pharmaceutical and health businesses contributed about 29 percent of net income last year, the most after investments, which contributed about 38 percent.

Fosun Pharmaceutical in July agreed to buy an 86 percent stake in, India-based Gland Pharma for US$1.26 billion (HK$9.82 billion), adding injectable drugs to its product range and expanding its global reach.

Billionaire Guo has said he is modeling Fosun on Berkshire Hathaway's insurance plus investment strategy. The company has become one of the most acquisitive Chinese firms in the past two years, buying insurance and hospitality assets including Ironshore and the Club Med resort operator.

The company is rated Ba3 by Moody's Investors Service, three notches below investment grade.

Meanwhile, Guo called China's peer-to-peer lending industry basically a scam, arguing that players in the multi-billion dollar sector, troubled by collapses and frauds, lack the ability to price risk. Guo was responding to a question on any P2P investments by the firm.

Chief financial officer Robin Wang said "we never invested in any P2P projects," while Guo, jumped in to say that he'd never been optimistic about the industry in China. While acknowledging exceptions, Guo said that in general the country's P2P operations were rogue.

China this month put limits on lending by P2P platforms to individuals and firms after defaults and fraud among the nation's more than 4,000 online lenders.

Source: BLOOMBERG
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Re: Fosun International 0656

Postby winston » Fri Sep 02, 2016 7:17 am

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Fosun to buy into Russia bank

Fosun international (0656), China's largest private conglomerate, is in talks to acquire a stake in Russian investment bank Renaissance Capital, two sources familiar with the matter said.

The talks about the stake in Renaissance Capital, owned by Russian billionaire Mikhail Prokhorov's Onexim Group, have been on for a few months.The transaction value is still under discussion.

Russian daily Vedomosti first reported the deal this month, citing sources as saying Fosun will potentially become a minority shareholder, investing together with Prokhorov, and receive an option to increase its stake as the investment bank grows.

Renaissance Capital specializes in emerging and frontier markets. One of its core markets is Africa where it has offices in countries including Kenya and Nigeria.The potential deal comes as Fosun shifts its investment focus to emerging markets, notably India, Russia and Brazil.

"Fosun has roughly completed the investment layout in developed countries, and now it needs to turn to emerging markets," its billionaire co- founder and chairman Guo Guangchang said.

Source: REUTERS
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Re: Fosun International 0656

Postby winston » Fri Sep 30, 2016 6:21 am

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Fosun to take 51pc rail stake

Fosun Group said it will become the first private Chinese company to own a bigger stake than the government in a high- speed railway project, after agreeing to invest in a 46.2 billion yuan (HK$53.5 billion) venture.

Shanghai Fosun High Technology has signed an agreement with the government of Zhejiang province, the company said in a statement on Wechat.

Auto-makers Zhejiang Geely Holding Group and Wanfeng Auto Holding Group have also signed up as private partners in the project, a 270-kilometer link between Hangzhou and Taizhou, according to Zhejiang Radio & TV. The project marks a rare foray by the conglomerate into infrastructure.

Fosun International, the group's holding company, has been one of the most acquisitive Chinese firms in the past three years, buying foreign assets such as French resort chain Club Mediterranee and Canadian circus operator Cirque du Soleil, as part of plans to focus its businesses on tourism, healthcare and wealth.

Fosun will be responsible for raising at least 51 percent of the equity for the project through its private equity vehicle Sunvision Capital, Fosun said.

Source: BLOOMBERG
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Re: Fosun International 0656

Postby winston » Wed Dec 21, 2016 6:26 am

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Fosun International pivots from asset buyer to seller in bid to lower leverage

Insurance-to-tourism conglomerate Fosun International, controlled by billionaire Guo Guangchang, cashes out of several businesses in effort to lower debt

Source: SCMP

http://www.scmp.com/business/investor-r ... r-leverage
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Re: Fosun International 0656

Postby winston » Wed Mar 29, 2017 9:23 am

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China’s Fosun announces management reshuffle

March 29, 2017: Fosun International Ltd , controlled by one of China’s best-known entrepreneurs, announced a major management reshuffle late on Tuesday after saying net profit rose 28 percent for 2016 thanks to steady growth in core businesses. In a statement to the Hong Kong stock ex


Source: Deal Street Asia

http://www.dealstreetasia.com/stories/c ... 69cc61b4c8
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Re: Fosun International 0656

Postby winston » Thu Jul 06, 2017 1:59 pm

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Fosun-related shares fall in Hong Kong and Shanghai

by: Alice Woodhouse, Tom Hancock

Source: Financial Times

https://www.ft.com/content/da7dafc4-289 ... bca915bba4
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Re: Fosun International 0656

Postby winston » Thu Jul 06, 2017 4:18 pm

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Fosun Shares Slump on Missing Chairman Rumors
By Daniel Shane

Shares in entities tied to Chinese conglomerate Fosun sank in Thursday trading on rumors chairman Guo Guangchang was missing.

Hong Kong-listed Fosun International (656.HK), whose assets include package holiday provider Club Med, slipped as much as 4.8% in morning trading.

By mid-afternoon they’d pared that loss to around 1.5%. Shanghai Fosun Pharmaceutical (2196. HK) cratered as much as 7.7% in the morning.

Fosun denied that Guo had gone AWOL, writing in a statement that the billionaire chairman was in Shaanxi province giving a speech.

It said speculation of an unexplained absence was “sheer rumor and malicious slander,” according to media reports.

Investors have become nervy about Chinese conglomerates that have splashed the cash on overseas acquisitions in recent years.

Anbang Insurance chairman Wu Xiaohui was detained by Chinese authorities last month. The financial giant had become well-known for its exotic overseas purchases, including a slate of luxury hotels in the U.S.

Meanwhile, Reuters reported in June that China’s financial regulator had instructed a number of banks to evaluate their exposure to offshore deals involving big, private conglomerates including Fosun, HNA and Dalian Wanda.

Fosun’s own overseas trophy assets include the Cirque du Soleil and one of Wall Street’s most prominent office buildings.

Source: Barron's Asia

http://www.barrons.com/articles/fosun-s ... 1499322990
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Re: Fosun International 0656

Postby winston » Tue Jul 11, 2017 6:53 am

Fosun to use Portuguese-speaking markets as test beds for integrated businesses

Fosun’s acquisitions in Portugal began in 2014, with a 1.04 billion euro (US$1.14 billion) takeover of the country’s largest insurer Fidelidade Cia de Seguros SA, followed by a purchase in the same year of hospital operator Espirito Santo Saude SGPS SA, and capped off last November with a 174.6 million euro acquisition of Banco Comercial Portugues SA (BCP).


From Portugal, Fosun plans to replicate the business model throughout other Portuguese-speaking nations, including Brazil, Mozambique and Angola in Africa, East Timor in Asia and Macau on the doorstep of mainland China.


Source: SCMP

http://www.scmp.com/business/companies/ ... integrated
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Re: Fosun International 0656

Postby winston » Thu Aug 31, 2017 5:02 am

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Deal-maker Fosun sees profit shoot up by 33pc

by Janice Huang

Conglomerate Fosun International (0656), one of China's most acquisitive overseas deal-makers, reported a 33.6 percent rise in first-half net profit yesterday, thanks to steady growth in its core businesses.

The insurance-to-tourism firm, which has a market value of HK$106.3 billion, said net profit in the six months ended June totaled 5.86 billion yuan (HK$6.96 billion), up from 4.39 billion yuan a year earlier.

Revenue increased 11.6 percent to 36.3 billion yuan. Earnings per share was 68 fen. The company will not pay an interim dividend.

The company said its key businesses - including Fosun Pharma, Club Med and Yuyuan - performed strongly.

The group is one of China's most aggressive global deal-makers, taking control of French resort chain Club Med and Britain's Thomas Cook Group as well as a stake in an iconic US building, One Chase Manhattan Plaza.

The group has come under scrutiny amid a drive by Beijing to suppress showy overseas deals that has drawn in property developer Dalian Wanda Group, HNA Group and Anbang Insurance.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0831&sid=2
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