FOSUN INTL(HK:00656)2022-04-27 08:56Financial Performance - In 2021, Fosun International achieved a revenue of RMB 161.29 billion, representing an 18.0% year-on-year increase[10]. - The profit attributable to shareholders reached RMB 10.09 billion, up 26.1% compared to the previous year[10]. - The operating profit from core industries was RMB 10.59 billion, reflecting a 30.3% increase year-on-year[10]. - The basic and diluted earnings per share were both RMB 1.21, compared to RMB 0.94 in the previous year[7]. - The company declared a dividend of HKD 0.30 per share, up from HKD 0.22 in the previous year[7]. - The company's total debt to total capital ratio is 53.8%, showing a slight year-on-year decrease, with an average debt cost at a historical low of 4.6%[18]. - The company's total debt rose to RMB 237,119.5 million in 2021, with a debt-to-capital ratio of 53.8%[138]. - The average cost of debt for 2021 was 4.55%, a decrease of 0.25 percentage points compared to the previous year[120]. - The profit attributable to equity holders of the parent company was RMB 10,089.9 million in 2021, a decrease of 26.5% compared to RMB 13,161.3 million in 2017[138]. Segment Performance - The health segment generated revenue of RMB 43.98 billion, a 27.1% increase from RMB 34.61 billion in 2020[7]. - The happiness segment reported revenue of RMB 66.90 billion, up 19.0% from RMB 56.02 billion in 2020[7]. - The wealth segment's revenue increased to RMB 43.70 billion, a slight rise of 2.8% from RMB 42.52 billion in 2020[7]. - The health segment reported revenue of RMB 43,979.8 million for the year ended December 31, 2021, representing a year-on-year growth of 27.1%[46]. - The happiness segment's revenue was RMB 66,898.3 million, making up 41.2% of total revenue, reflecting a 19.4% increase year-on-year[37]. - The wealth segment's profit was RMB 5,160.1 million, which accounted for 50.7% of total profit, with a year-on-year increase of 13.5%[38]. Research and Development - Research and development investment totaled RMB 8.9 billion, with over 1,500 patents obtained and more than 500 projects under research[5]. - The company invested approximately RMB 8.9 billion in technology and innovation capabilities, including both expensed and capitalized research investments[21]. - Research and development expenses totaled RMB 4,975 million, up 24.28% compared to the previous year, with R&D costs specifically increasing by 37.17% to RMB 3,834 million[47]. Global Expansion and Acquisitions - The establishment of the Overseas Operations Committee in 2021 aims to accelerate Fosun's global organizational evolution and promote exponential growth in global business[13]. - The acquisition of Bankhaus Lampe, a significant private bank in Germany, was completed in September 2021, showcasing Fosun's strong local execution capabilities despite pandemic challenges[13]. - The company has expanded its global operations, including the acquisition of Bankhaus Lampe in Germany to enhance business collaboration in mainland China and Hong Kong[20]. - The company has opened new resorts in Seychelles, Lijiang, and Quebec, marking its expansion in the North American ski business[20]. ESG and Social Responsibility - The company's ESG rating was upgraded to AA by MSCI in December 2021, recognizing its performance in ESG management[18]. - The company actively disposes of non-core assets while pursuing equity financing to enhance asset valuation transparency[18]. - The company participated in various public welfare activities, donating RMB 50 million in response to the severe flooding in Henan[24]. - The company has been involved in the "Malaria-Free World" project for over 15 years, supplying over 200 million doses of innovative drugs to international markets[24]. - The company aims to enhance its ESG standards while seizing development opportunities along the Belt and Road Initiative[33]. Operational Efficiency and Cost Management - Fosun's global procurement reduced costs by RMB 2 billion, with direct procurement rate increasing by 9% and centralized procurement rate rising by 6%[16]. - The company successfully raised a total of RMB 33.19 billion through various financing activities, including approximately USD 1.57 billion in offshore bonds[23]. - The company has implemented a strategic management system to improve decision-making efficiency and organizational agility[193]. - The company has successfully reduced operational costs by 5%, improving overall profitability margins[173]. Talent Management and Employee Engagement - The company emphasizes a talent-first approach, with a focus on attracting industry leaders and high-potential talent across various sectors[193]. - The company has launched multiple talent development programs, including leadership development projects and management training, to cultivate core talent at various levels[198]. - The company has established a systematic talent inventory and succession planning system, focusing on attracting and operating key talents[194]. - The company has implemented various care plans for different employee groups, enhancing employee experience and engagement[197]. Future Outlook and Strategic Initiatives - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[174]. - New product launches are expected to contribute an additional 1 billion in revenue over the next year[176]. - The company is considering strategic acquisitions to enhance its portfolio, targeting companies with a combined revenue of 2 billion[176]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[140].