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Nikkei Markets

Fosun International aims to boost return on equity to at least 15%

Chinese conglomerate reports 10.9% rise in net profit for first half

Fosun International now identifies itself as a consumer-focused entity rather than as a diversified investment group.

HONG KONG (Nikkei Markets) -- Fosun International is targeting a return on equity of 15% or more, Chief Financial Officer Thomas Xue said on Wednesday after the Chinese conglomerate reported a 10.9% rise in net profit for the first half of 2019 a day earlier.

The company's annualized ROE at the end of the January-to-June period was 13.6%, representing a growth of 0.8 percentage point from 2018. While the company did not specify a timeframe for meeting its 15% target for ROE, a measure of profitability in relation to shareholders' equity, CEO Wang Qunbin said on a conference call that the company now sees the metric as its key performance indicator.

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