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Finance

Fosun International Ltd.

Company Background

Fosun International is a publicly traded arm of Fosun Group, a private investment firm in Shanghai that was founded by four students of Fudan University in 1992, then listed in Hong Kong in 2007. Chairman Guo Guangchang majored in philosophy at Fudan University before becoming an investor. His hobby is tai chi.

Fosun International grew by taking over a good number of companies and presides over real estate and steel companies, Greek jewelry brand Folli Follie, French resort operator Club Med and an insurance company that used to be a group firm of Portuguese saving bank Caixa Geral de Depositos. It also owns a stake in Cirque du Soleil, the popular neocircus troupes out of Canada.

The company intends to position its insurance arm as a core unit and use its ample funds to invest in businesses that will serve Chinese with rising incomes.

It is also actively investing in real estate and other businesses in Japan. In 2014, Fosun Property bought Japanese firm Idera Capital Management. Fosun has since purchased several office buildings in central Tokyo via Idera.

Business Summary

Fosun International Ltd. engages in creating customer-to-maker ecosystems in health, happiness and wealth, and providing products and services for families. It operates through the following segments: Health Ecosystem, Happiness Ecosystem, Insurance and Finance, Investment, and Hive Property. The Health Ecosystem segment includes research and development, manufacture, sale, and trading of pharmaceutical and health products and providing medical services and health management. The Happiness Ecosystem segment comprises operation and investments in tourism and leisure, fashion consumer, and lifestyle industries. The Insurance and Finance segment involves in the operation of and investment in the insurance businesses, banking, and other financial businesses. The Investment segment consists of primary investments, secondary market investments, and investments in asset management companies and other companies of the group. The Hive Property segment focuses on the development and operation of the hive city properties. The company was founded on December 24, 2004 and is headquartered in Shanghai, China.

Financial Highlights

Dec 2019 HKDUSD
Revenue162,129.79M20,692.49M
Gross Profit61,180.95M7,808.47M
Operating income11,260.58M1,437.17M
Income before tax23,117.28M2,950.43M
Net income16,782.99M2,142.00M
EBITDA18,855.54M2,406.51M
Diluted EPS1.960.25
Dividends Per Share0.400.05
Total Assets800,557.69M102,743.61M
Total liabilities596,850.38M76,599.80M
Total equity137,086.48M17,593.68M
Operating cash flow3,513.95M448.48M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 97,194.43M 86,423.90M 101,500.66M 129,521.97M 162,129.79M
Gross Profit 21,785.26M 30,229.86M 37,072.05M 49,300.57M 61,180.95M
Operating income 7,411.26M 2,924.16M 6,446.83M 6,499.43M 11,260.58M
Income before tax 16,086.46M 15,836.47M 21,282.93M 18,994.64M 23,117.28M
Net income 9,915.06M 11,997.53M 15,176.09M 15,879.26M 16,782.99M
EBITDA 11,839.56M 6,578.72M 9,483.56M 10,967.74M 18,855.54M
Diluted EPS 1.29 1.39 1.76 1.85 1.96
Dividends Per Share 0.17 0.21 0.35 0.37 0.40
Total Assets 486,255.72M 543,071.34M 640,783.37M 728,555.74M 800,557.69M
Total liabilities 366,304.12M 404,375.27M 475,975.82M 544,493.00M 596,850.38M
Total equity 90,319.31M 102,971.83M 121,176.19M 123,761.63M 137,086.48M
Operating cash flow -5,082.58M 18,358.47M 31,406.10M 17,838.98M 3,513.95M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 12,537.05M 11,133.57M 13,024.90M 16,525.83M 20,692.49M
Gross Profit 2,810.06M 3,894.36M 4,757.20M 6,290.30M 7,808.47M
Operating income 955.97M 376.70M 827.27M 829.26M 1,437.17M
Income before tax 2,074.98M 2,040.13M 2,731.09M 2,423.54M 2,950.43M
Net income 1,278.93M 1,545.58M 1,947.44M 2,026.05M 2,142.00M
EBITDA 1,527.17M 847.50M 1,216.96M 1,399.38M 2,406.51M
Diluted EPS 0.16 0.17 0.22 0.23 0.25
Dividends Per Share 0.02 0.02 0.04 0.04 0.05
Total Assets 62,741.45M 70,045.25M 81,969.90M 93,054.43M 102,743.61M
Total liabilities 47,264.12M 52,156.25M 60,887.49M 69,545.11M 76,599.80M
Total equity 11,653.87M 13,281.28M 15,501.02M 15,807.39M 17,593.68M
Operating cash flow -655.59M 2,365.03M 4,030.13M 2,276.09M 448.48M

Valuation Measures

Dec 2019
PER5.77
ROA2.19%
ROE12.86%
Operating margin6.94%
Profit margin10.35%

Key executives

  • Co-Chief Executive Officer & Executive Director: Qi Yu Chen
  • Co-Chief Executive Officer & Executive Director: Xiao Liang Xu
  • Chief Financial Officer & Executive Director: Ping Gong
  • Co-CFO & GM-Financial Management: Li Gang Zhang
  • Co-Chief Financial Officer & Senior Vice President: Hou Lin Zhang

Shareholders

  • Fosun International Holdings Ltd. (71.0%)
  • The Vanguard Group, Inc. (0.9%)
  • BlackRock Fund Advisors (0.5%)
  • T. Rowe Price International Ltd. (0.4%)
  • Dimensional Fund Advisors LP (0.4%)
  • Norges Bank Investment Management (0.3%)
  • Hang Seng Investment Management Ltd. (0.2%)
  • CHEN QI YU (0.2%)
  • XU XIAO LIANG (0.1%)
  • QIN XUE TANG (0.1%)

Contact Details

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  • Miracle Nova II (US) LLC

Competitors

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