香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 授出購股權及股份獎勵 本 公 告 乃 根 據 香 港 聯 合 交 易 所 有 限 公 司 （ 「 」 ） 證 券 上 市 規 則 （「 」）第17.06A條作出。 復 星 國 際 有 限 公 司 （ 「 」 ， 連 同 其 附 屬 公 司 統 稱 「 」 ） 董 事 （「 」）會（「 」）宣佈，於2026年3月31日（「 」），本 公司已根據於2023年3月16日採納的購股權計劃（「2023 」），向 身為本集團董事及僱員的160名2023購股權計劃的合資格參與者（「 」）授出363,280,000份購股權（「 」），以認購合共363,280,000股 本公司股份（「 」），惟須待購股權承授人接納後方可作實。 所授予購股權之條款概要載列如下： 授出日期： 2026年3月31日 購股權承授 160名本集團董事及僱員 人類別： 所授予購股 權 之 行 使 每份購股權賦予該購股權持有人之權利，可按行使價每股股 ...

Group 1 - The company, Fosun International (00656.HK), announced a share buyback on March 31, spending HKD 28.884 million to repurchase 7 million shares [1]

Group 1 - The core point of the article is that Fosun International (00656) announced a share buyback plan, committing to repurchase 7 million shares at a total cost of HKD 28.8844 million, with a price range of HKD 4.09 to HKD 4.14 per share [1]

如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) 00656 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | | 已發行股份總數 | | 於下列日期開始時的結存(註1) 2026年2月28日 | | 8, ...

Core Viewpoint - Fosun International reported a significant loss for the fiscal year 2025, with a revenue decline of 9.74% and a loss of 23.396 billion RMB, marking a 437.86% increase in losses year-on-year. The chairman attributed the losses to non-cash impairment charges rather than a deterioration in operational fundamentals [1][5][6]. Financial Performance - For the fiscal year 2025, Fosun International achieved total revenue of 173.425 billion RMB, down from the previous year [1][5]. - The company recorded a loss attributable to shareholders of approximately 23.396 billion RMB, which is a substantial increase compared to the previous year's losses [1][5]. - The core businesses, including pharmaceuticals and insurance, continue to show stable growth despite the overall financial downturn [6]. Business Segments - The four core enterprises of Fosun International—Fosun Pharma, Yuyuan, Fosun Portugal Insurance, and Fosun Tourism—generated a total revenue of 128.2 billion RMB, accounting for 74% of the group's total revenue, an increase of 3% year-on-year [2][6]. - Fosun Pharma's innovative drug revenue reached 9.893 billion RMB, a year-on-year increase of 29.59%, representing 33.16% of the pharmaceutical business revenue [2][6]. - Fosun Portugal Insurance reported a gross premium income of 6.53 billion EUR, with a net profit of 201 million EUR, reflecting a 15.8% increase [2][7]. - Domestic insurance companies under Fosun, including Fosun Baodexin Life, achieved a premium income of 13.28 billion RMB, up 41.6%, and a net profit of 650 million RMB, a 492% increase [7]. Strategic Initiatives - The chairman described the impairment charge as a "roof repair on a sunny day," indicating a proactive approach to address past investment misalignments and refocus resources on high-growth sectors [2][6]. - Fosun aims to gradually restore a profit scale of 10 billion RMB and reduce total group liabilities to below 60 billion RMB, targeting an "investment-grade" rating [3][7]. Stock Buyback - Fosun International is increasing its share buyback efforts to instill market confidence, planning to repurchase shares worth up to 1 billion HKD following the 2025 annual results announcement [4][8].

Core Insights - Fosun International Limited reported a total revenue of RMB 173.43 billion for the fiscal year ending 2025, representing a year-on-year decline of 9.7% [1] - The adjusted operating profit remained stable at RMB 4 billion, while the net loss attributable to shareholders was RMB 23.396 billion [1] - The company operates under a dual strategy of "deep industry operation + industrial investment," focusing on four core sectors: health, happiness, wealth, and intelligent manufacturing [1] Financial Performance - The wealth sector, which includes insurance and asset management, experienced a significant loss of RMB 14.173 billion, entirely attributed to the asset management segment, which reported a loss of RMB 15.952 billion [1] - The insurance segment, however, was profitable, contributing RMB 1.7792 billion to the net profit attributable to shareholders, a 3.7% increase from the previous year [1] - Insurance revenue increased by 14.0%, with insurance, asset management, and investment revenues accounting for 80%, 9%, and 11% of the wealth sector's total revenue, respectively [1] Asset Management Challenges - The asset management segment faced severe challenges, with total revenue declining by 30.1% to RMB 11.048 billion compared to RMB 15.8 billion in 2024 [2][10] - The loss attributable to shareholders in this segment expanded to RMB 15.952 billion, a 264.9% increase from the previous year's loss of RMB 4.372 billion [1][10] Insurance Sector Performance - Fosun's Portuguese insurance subsidiary reported a global premium income of EUR 6.529 billion (approximately RMB 50 billion), a 5.8% increase year-on-year, with a net profit of EUR 201 million (approximately RMB 1.65 billion), up 15.8% [3][11] - The company maintained a leading market share of 28.1% in Portugal, with total assets reaching EUR 24.16 billion and net assets of EUR 2.93 billion (approximately RMB 24.13 billion) [3][12] - Domestic life insurance companies, including Fosun's subsidiaries, achieved significant growth, with Fosun Baodexin Life's premium income reaching RMB 13.28 billion, a 41.6% increase, and net profit soaring by 492% to RMB 650 million [3][12] Diversification and Strategic Initiatives - The insurance segment has established a diversified structure, including domestic and international operations, life, property, health, and reinsurance [5][13] - Fosun Baodexin Life is advancing an "insurance + service" ecosystem strategy, focusing on health, retirement, education, wealth, and happiness [6][13] - The health insurance segment, Fosun United Health Insurance, reported a 50.1% increase in revenue, and the company secured strategic investments to enhance the "insurance + medical" synergy [6][13] Investment Performance - Yong'an Property Insurance achieved its best performance in 30 years, with total revenue of RMB 11.943 billion, a 12.36% increase, and net profit rising by 176.25% to RMB 564 million [4][14] - The investment segment showed strong performance, with financial investment income reaching RMB 1.2 billion and an investment yield of 8.39% [14]

Core Viewpoint - Fosun International's subsidiary, FORTUNE STAR (BVI) LIMITED, announced a full buyback offer for approximately USD 205 million of its remaining dollar bonds maturing in May 2026, reflecting the company's proactive approach to optimize its debt structure and reduce overall liabilities [1] Group 1: Debt Management and Financial Strategy - The buyback offer is priced at 100% of the face value and will be funded entirely from the company's own resources, showcasing a robust financial strategy and ample cash reserves [1] - The management aims to gradually restore profit levels to RMB 10 billion and reduce total liabilities to below RMB 60 billion, targeting an "investment grade" rating [1] - Recent actions, including the dollar bond buyback, demonstrate the company's commitment to optimizing its financial structure, supported by solid financial strength and global financing capabilities [1] Group 2: International Financing and Partnerships - On March 20, Fosun International completed the signing of agreements with 16 banks for a syndicated loan amounting to USD 522 million, which is roughly equivalent to the amount maturing, thereby stabilizing liquidity [2] - The banks involved span across 10 countries and regions, indicating Fosun's extensive international cooperation network and market influence [2] - The initiation of a green shoe mechanism is expected to expand the syndicated loan size, allowing for the replacement of existing debt without increasing overall financing, thus extending debt maturity and optimizing the financing structure [2] Group 3: Financial Reserves - As of the reporting period, Fosun International reported cash and bank deposits totaling RMB 61.1 billion, with unused bank credit facilities amounting to RMB 144.6 billion, providing strong support for the growth of its core business segments [3]

Core Viewpoint - Fosun International's Chairman Guo Guangchang stated that the RMB 23.4 billion impairment provision is a "prudent accounting treatment" and not indicative of operational issues, marking a new development phase for the company [1][2] Financial Performance - For the reporting period, Fosun International's total revenue reached RMB 173.43 billion, with adjusted operating profit at RMB 4 billion [2] - The four core subsidiaries generated revenue of RMB 128.2 billion, accounting for 74% of total revenue [2] - Fosun Pharma reported a net profit attributable to the parent of RMB 3.371 billion, a year-on-year increase of 21.69% [2] - Fosun Portugal Insurance achieved a net profit of EUR 201 million, up 15.8% year-on-year [2] Impairment and Strategic Focus - The company recorded a one-time non-cash impairment provision and value reassessment, resulting in an annual loss of RMB 23.4 billion, with 55% attributed to real estate impairments and 45% to non-core asset impairments [2] - Guo emphasized the company's commitment to exiting underperforming assets and focusing resources on high-growth core sectors for sustainable development [1][2] Future Outlook - The adjusted net asset value (NAV) is RMB 133.5 billion, with a per-share NAV of HKD 18.1 [2] - The board has announced a share buyback plan, and major shareholders and management will increase their holdings [2] - The company plans to explore more shareholder return initiatives, including optimizing the dividend mechanism [2]

Core Viewpoint - Fosun International's chairman Guo Guangchang stated that the RMB 23.4 billion impairment provision is a "prudent accounting treatment" and not indicative of operational issues, marking a new development phase for the company [1][2] Group 1: Financial Performance - For the reporting period, Fosun's total revenue reached RMB 173.43 billion, with adjusted operating profit at RMB 4 billion [2] - The four core subsidiaries generated revenue of RMB 128.2 billion, accounting for 74% of the total revenue [2] - Fosun Pharma reported a net profit of RMB 3.371 billion, a year-on-year increase of 21.69%, while Fosun Portugal Insurance achieved a net profit of EUR 201 million, up 15.8% [2] Group 2: Impairment and Strategic Focus - The company conducted a one-time non-cash impairment provision and value reassessment for certain real estate projects and non-core business segments, resulting in an annual loss of RMB 23.4 billion, with 55% attributed to real estate impairment and 45% to non-core asset impairment [2] - Guo emphasized the company's commitment to exiting underperforming assets and focusing resources on high-growth core sectors to promote a more sustainable and healthier development [1][2] Group 3: Future Outlook and Shareholder Returns - The adjusted net asset value (NAV) of Fosun is RMB 133.5 billion, with a per-share NAV of HKD 18.1 [2] - The board has announced a share buyback plan, and major shareholders and management will increase their holdings [2] - Fosun plans to explore and gradually implement more shareholder return measures, including optimizing the dividend mechanism, based on operational improvements and cash flow [2]

Core Viewpoint - Fosun International reported a significant loss of approximately RMB 23.4 billion for the fiscal year 2025, attributed mainly to non-cash impairment charges rather than a deterioration in operational fundamentals [1][2] Financial Performance - For the year ending December 31, 2025, Fosun's total revenue reached RMB 173.4 billion, a decline of 9.74% year-on-year [1] - The net profit attributable to shareholders plummeted by 437.97% to RMB 23.396 billion [1] Strategic Focus - The company is implementing a "streamlining and focusing on core business" strategy, with asset impairment charges being described as "roof repairs on a sunny day" to better allocate resources towards high-growth sectors [2] - Real estate-related impairments accounted for approximately 55% of the total, while non-core asset impairments made up about 45% [2] Core Business Growth - The four core enterprises—Fosun Pharma, Yuyuan, Fosun Portugal Insurance, and Fosun Tourism—generated total revenues of RMB 128.2 billion, representing 74% of the group's total revenue, an increase of 3% year-on-year [2] - Fosun Pharma's innovative drug revenue reached RMB 9.893 billion, a year-on-year increase of 29.59%, contributing to 33.16% of the pharmaceutical business revenue [3] Insurance Sector Performance - Fosun's insurance businesses showed comprehensive growth, with Fosun Portugal Insurance achieving gross premiums of EUR 6.53 billion and a net profit of EUR 201 million, up 15.8% [3] - Domestic insurance companies, including Fosun Baodexin Life, reported a scale premium of RMB 13.28 billion, a 41.6% increase, and a net profit of RMB 650 million, growing by 492% [3] Consumer and Tourism Developments - Yuyuan's restaurant brand Songhe Lou opened its first overseas store in London, while the jewelry brand Laomiao launched its first overseas store in Kuala Lumpur [4] - Club Med achieved record revenue of RMB 17.97 billion, a 2.1% increase, with an average global occupancy rate of 75.8%, up 1.8% [4] Future Outlook - The company aims to restore a profit scale of RMB 10 billion and reduce total liabilities to below RMB 60 billion, targeting an "investment-grade" rating [4] - Fosun is focusing on practical applications of AI to enhance efficiency rather than pursuing large model concepts [4]