HONG KONG, April 1, 2026 /PRNewswire/ -- On 31 March, Fosun International held its 2025 annual results presentation in Shanghai. Guo Guangchang, Chairman of Fosun International; Wang Qunbin, Co-Chairman of Fosun International; Chen Qiyu, Co-CEO of Fosun International; Xu Xiaoliang, Co-CEO of Fosun International; Gong Ping, CFO of Fosun International, as well as a number of institutional investors and analysts attended the event.

On the evening of 30 March, Fosun International announced its 2025 annual results. During the Reporting Period, the Group's total revenue reached RMB173.43 billion, and adjusted industrial operation profit was RMB4 billion. Fosun International's adjusted net asset value (NAV) was RMB133.5 billion, with a NAV per share reaching HKD18.1. Its four core subsidiaries generated RMB128.2 billion in revenue, accounting for 74% of the Group's total revenue. Among them, Fosun Pharma achieved a net profit attributable to shareholders of the parent of RMB3.371 billion, representing a year-on-year increase of 21.69%. Fosun Insurance Portugal achieved a net profit attributable to owners of the parent of EUR201 million, up 15.8% year-on-year.

Compared to prior years, Fosun's results have largely remained stable. However, Fosun made non-cash impairment provisions and value revaluations on certain real estate projects with impairment indicators, as well as goodwill and intangible assets of certain non-core business segments. This resulted in a book loss of RMB23.4 billion in 2025, of which real estate-related impairment accounted for approximately 55%, while impairment of non-core assets accounted for approximately 45%. These provisions do not affect the Company's overall operations and cash flow.

"Repairing the roof on a sunny day"

Guo Guangchang, Chairman of  Fosun International, emphasized that this impairment is akin to "repairing the roof on a sunny day", and from a long-term perspective, this impairment marks Fosun's entry into a new stage of development. "We will divest assets with low profitability and value below target, and focus our resources on core, high‑growth areas, steering the Company toward a leaner, healthier, and more sustainable future."

He explained that the operating results of Fosun's various business segments indicate that Fosun's core businesses remain solid. The pharmaceutical business has continued to make breakthroughs in its global expansion, with multiple products launched overseas and several promising pipeline products. The insurance business recorded growth both domestically and internationally, with Fosun Insurance Portugal expanding its business into regions such as Latin America and Africa. Meanwhile, domestic insurance companies, Fosun United Health Insurance and Pramerica Fosun Life Insurance, recorded significant profit increases. In the culture and tourism business, Club Med achieved record-high results.

"These businesses are capable of generating sustainable profit and cash flow, laying the foundation for Fosun's continued growth. Following this significant impairment, Fosun's future operating results will more accurately reflect the underlying quality of our core businesses," said Guo Guangchang.

No further impairment pressure is expected going forward

Following Fosun's results announcement, one of the market's key concern is the Company's future impairment pressure. At the results presentation, Wang Qunbin, Co-Chairman of Fosun International, stated that from the Group's perspective, prudent and adequate provisions were made, taking into account the actual operating environment of each impaired asset, the valuation cycle of the industry in which the asset operates, the projected growth and development of these assets and industries, and in accordance with the principle of prudence and the requirements of Hong Kong accounting standards. At present, Fosun is not expected to face further impairment pressure going forward. Since the Group announced its asset impairment, Fosun's management has proactively and promptly engaged with rating agencies, major partner banks and public bond investors, and has gained recognition from partners.

Wang Qunbin stated that while Fosun is confident in its financing capabilities in the future, and the domestic and international financing landscape and costs have improved significantly, Fosun remains committed to "streamlining operations and strengthening the business", focusing on development, and continuously improving its ratings.

High-quality breakthroughs in multiple core business areas

Regarding Fosun's key business directions, Chen Qiyu, Co-CEO of Fosun International, stated that Fosun will continue to focus on its core businesses to drive medium-to long-term value growth.

First, it will focus on its innovation and globalization strategies to pursue better and more sustainable value. Second, Fosun's robust global insurance business will drive healthy profit and cash flow growth, serving an important cornerstone for Fosun's future profit growth. Third, it will continue to advance the asset-light and global operations of its culture and tourism business to better leverage resources and drive efficient growth. In addition, it will strive to upgrade and achieve breakthroughs in high-quality assets and businesses such as Yuyuan's gold and jewelry business, Shede Spirits, and Hainan Mining.

Xu Xiaoliang, Co-CEO of Fosun International, stated that despite the high degree of uncertainty in the global macroeconomic environment last year, Fosun continued to optimize its financial structure and steadily enhanced business operations by focusing on its core businesses. It also achieved high-quality breakthroughs in multiple core business areas.

Revenue from its four major business segments—Health, Happiness, Wealth, and Intelligent Manufacturing—saw steady growth, overseas revenue continued to increase, innovation became a core competitive advantage, globalization accelerated further, and global operational capabilities continued to strengthen. Going forward, Fosun will continue to deepen its strategic focus, strengthen its global operational capabilities, intensify innovation efforts, and invest in the future with greater composure and determination to achieve long-term, sustainable value growth.

Fully confident in the Company's future development

Regarding external concerns about Fosun's financing channels and debt, Gong Ping, CFO of Fosun International, stated that the Group's diversified financing channels remain open and its cost of debt is steadily declining. Since 2025, Fosun International has completed four long-term bond issuances overseas and successfully issued multiple 2-year credit bonds domestically, effectively extending debt maturity and optimizing debt structure. The proportion of medium- and long-term debt has increased from 48.7% in 2024 to 53.5%. This includes Fosun's announcement earlier today of a full tender offer to repurchase its remaining US dollar bonds maturing in May 2026, totaling approximately USD205 million, at 100% of par value, with the repurchase funded by the Group's own funds.

Gong Ping added that Fosun will take a multi-pronged approach to streamline the Group's asset portfolio and enhance transparency, thereby accelerating valuation recovery. Management has set a clear  medium-term target of achieving a net profit attributable to shareholders of the parent of more than RMB10 billion, mainly by accelerating the sale of asset-heavy projects and non-core subsidiaries, optimizing the asset portfolio, reducing the Group's interest‑bearing debt to below RMB60 billion, and lowering financial expenses. At the same time, Fosun will actively explore ways to bring non-listed assets to the capital market.

Fosun's management expressed full confidence in the Company's future development at the results presentation. The Company's Board of Directors has announced a share buyback program. Fosun's major shareholder and management team will also increase their holdings in the shares of the Company. In the future, Fosun will actively explore and gradually introduce further measures to enhance shareholder returns, including optimizing the dividend mechanism, in line with operational improvements and cash flow conditions.

"I believe Fosun has the ability to navigate through cycles. While we may face some short-term challenges, these efforts will position Fosun for steadier, longer-term growth," said Guo Guangchang.

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SOURCE Fosun