Fosun International 0656

Re: Fosun International 0656

Postby winston » Mon Dec 14, 2015 9:02 am

not vested

Fosun Chairman Guo Is “Back”, Reappears At Annual Meeting


By Shuli Ren

Fosun Group’s chairman Guo Guangchang is already finished with “assisting investigation” and is attending Fosun’s internal annual meeting, Chinese media reported.

Guo’s disappearance grabbed headlines worldwide. Dubbed as China’s Warren Buffett, Guo built an investment conglomerate in Shanghai.

Fosun International (656.Hong Kong) and Fosun Pharma (2196.Hong Kong), which Guo personally holds 41% and 16% stake of, will resume trading today.

Fosun International tumbled over 25% in two days in over-the-counter trading in New York, according to Bloomberg.

In a press meeting over the weekend, Fosun’s CEO Liang Xinjun and President Wang Qunbin said Guo’s investigation was “personal” and not related to the company.

They also said the management would not sell their stakes and would consider buying additional shares if the stocks tank. Liang and Wang hold another 24% and 11% of Fosun International.

Source: Barron's Asia
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Mon Dec 14, 2015 11:44 am

vested

Guo Guang Chang Attends Fosun 2016 Working Meeting

Guo Guang Chang, the chairman of Fosun, attended the working meeting of 2016 and delivered a speech this morning, foreign media reported.

He mentioned that the theme of the group is growth this year.

The company is based in China despite its global investment. In the future, the company will show its advantages in China while developing a global platform.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Wed Dec 16, 2015 8:37 am

vested

Nov 23, 2015

<Research Report>FOSUN INTL Benefits from Focus Media's Backdoor A-share Listing; Target Lifted to $19.9 - UBS


UBS, in its report, mentioned that Focus Media received approval from the China Securities Regulatory Commission for its proposed backdoor listing through Hedy Holdings.

FOSUN INTL (00656.HK)'s target price was lifted from HK$19.5 to HK$19.9. The rating was maintained at Buy.

The group currently holds 17.4% stake in Focus Media.

As a part of transaction, FOSUN INTL proposed to sell approximately 7.7% stake in Focus Media and the gain after tax is estimated to range from RMB1.6 billion to RMB1.8 billion.

After the listing, the broker expected FOSUN INTL's remaining 9.7% stake in Focus Media will be diluted to 8.1% and it wil worth about RMB18.8 billion or HK$2.6/ share.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Wed Dec 16, 2015 8:40 am

vested

Sep 11, 2015

<Research Report>BofA ML: FOSUN INTL Reiterated Neutral on Another Share Placement

Bank of America Merrill Lynch, in its report, mentioned that FOSUN INTL (00656.HK) proposed for the issue of shares to raise $11.6 billion.

The subscription price of $13.42 is equivalent to the closing price on 10 September.

The proceeds are intended to be used for for general corporate purposes including mergers and acquisitions in the banking and insurance industry and repayment of loans.

The broker expected such share placement may dilute its NAV and EPS by 4% and 11% respectively.

Bank of America Merrill Lynch pointed out that its ultimate dilution will depend on what returns FOSUN INTL can achieve on the rights proceed.

The stock is trading at 36% discount to NAV vs. historical average of 26%.

The broker reiterated the stock at Neutral with a target price of $18.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Wed Dec 16, 2015 8:43 am

vested

Aug 29, 2015

<Result Ann>FOSUN INTL(00656.HK) Interim Net Profit Up 97.24%

FOSUN INTL (00656.HK) announced that for the interim period as of the end of June, the net profit rose 97.24% yearly to RMB3.62 billion.

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

Meanwhile, the turnover rose 19.94% yearly to RMB29.74 billion; gross profit rose 36.25% yearly to RMB7.86 billion.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Tue Dec 29, 2015 9:13 pm

The Disappearance of Chinese Tycoon Guo Guangchang

Speculation abounds about the fate of Fosun Group's CEO who made his fortune acquiring state-owned enterprises

By He Qinglian

Source: Epoch Times

http://www.theepochtimes.com/n3/1927263 ... campaign=7
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Wed Feb 17, 2016 8:40 pm

not vested

Citi Cuts FOSUN INTL (00656.HK) Target to $14.5; Rated Buy

Citigroup saw potential upside in FOSUN INTL (00656.HK) -0.120 (-1.141%) Short selling $7.12M; Ratio 8.227% 's ability to target accretive acquisitions amid volatile market environment since the company has solid track record and is a cashed-up asset trader with about RMB40 billion cash on hand.

The research house rated FOSUN INTL at Buy. The target price was lowered to $14.5 from $16 by applying a LT average target NAV discount of 25%. Earnings growth in 2015-2017 is expected to be 17%/ 17%/ 36%.

As stated in the report, insurance is FOSUN INTL's single largest profit contributor (around 40% of 2016 operating profit) and also plays a pivotal role in fundraising.

When making acquisition, FOSUN INTL makes use of its existing funds with premiums from insurance companies without having to heavily draw-down internal cash reserves or raise debt.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Fri Apr 01, 2016 7:17 am

Fosun focus falls on emerging markets

Fosun International (0656) saw net profit jump 17 percent last year to 8.038 billion yuan (HK$9.65 billion) from 2014 as it sold more insurance policies.

Earnings per share stood at 1.06 yuan, and a final dividend of 17 fen was proposed, the same as the previous year.

The group's insurance sector posted a 89 percent jump in profit to 2.104 billion yuan, largely driven by Fosun Insurance Portugal and Peak Reinsurance, both acquired by the group earlier.

Chairman Guo Guangchang said yesterday acquisition activities of the conglomerate this year would be focused on emerging markets such as Russia, Brazil and India, where valuation of companies is lower despite higher risk. Expanding investment inside the mainland would also be on the agenda.

Guo added he hopes to see closer cooperation with port operator China Merchants (0144), as Fosun takes an interest in investing in its logistics businesses. He does not rule out the possibility of investing in China Merchant stock, given its attractive valuation. The two pledged strategic cooperation by signing an agreement earlier this year.

Guo said he is considering a buyback of shares, which is currently at a low valuation level. But de-listing is definitely not part of the plan, he said.

Source: The Standard
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Wed May 18, 2016 10:45 am

China’s Fosun aims to be global leader in three verticals, coins plan to tackle mounting debt

Source: Deal Street Asia

http://www.dealstreetasia.com/stories/c ... -246495057
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

Re: Fosun International 0656

Postby winston » Wed Aug 03, 2016 8:14 am

not vested

Fosun ready to sell assets

Fosun Group, one of China's most acquisitive conglomerates, is preparing to sell as much as 40 billion yuan (HK$46.7 billion) in assets as it focuses on raising its credit rating.

After announcing more than US$15 billion (HK$117 billion) in overseas acquisitions since 2010, the group plans to disclose the disposals between now and the end of 2017, Liang Xinjun, chief executive of flagship unit Fosun International (0656), said yesterday.

"We will sell assets to repay debts," Liang said in Shanghai. "We have ample capability to get investment grade ratings. So either strategically, or tactically, Fosun is crystal clear that this has become our strategy."

Liang pointed to about 30 billion yuan to 40 billion yuan in assets such as properties, bonds, and stock holdings that could be sold off.

Fosun could part with more than that if it chose to because the company had 118 billion yuan of assets available for sale at the end of 2015.

So what will they sell? Fosun's focus is shifting toward health care, finance and leisure, so businesses such as steel and mining - which accounted for 73 percent of profit when the company went public in 2007 - are ripe for consideration.

Source: BLOOMBERG
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118527
Joined: Wed May 07, 2008 9:28 am

PreviousNext

Return to D to K

Who is online

Users browsing this forum: No registered users and 5 guests