Guo Ji Jin Rong Bao·2025-09-23 17:09Core Viewpoint - Fosun United Health Insurance Co., Ltd. has successfully completed a strategic capital increase of 810 million yuan, raising its registered capital from 694.44 million yuan to 1.01085 billion yuan, marking a significant milestone in its capital strength and shareholder structure [1][2]. Group 1: Capital Increase Details - On September 22, 2023, Fosun United Health received approval from the Guangdong Financial Regulatory Bureau for a capital increase of 810 million yuan [1]. - The capital increase involved new shareholders, including the International Finance Corporation (IFC) and the Asian Development Bank (ADB), while existing shareholder Fosun Pharma increased its stake from 14% to 20.05% [1]. - The capital increase is expected to provide a solid foundation for the company's future high-quality development and business expansion [1]. Group 2: Financial Performance - Since its establishment in January 2017, Fosun United Health has seen a continuous expansion in premium income, with insurance business revenue growing from 5.9 million yuan in 2017 to 5.226 billion yuan in 2024 [2]. - In the first half of 2025, the company achieved insurance business revenue of 3.642 billion yuan, representing a year-on-year growth of 31.09%, and net profit of 33 million yuan, marking a return to profitability [2]. - Despite previous attempts at capital increases in 2018, 2019, 2021, and 2023 failing, the company received cash donations from shareholders to supplement its capital during that period [2]. Group 3: Solvency Position - As of the end of 2022, the core solvency adequacy ratio of Fosun United Health dropped to 56.77%, and the comprehensive solvency adequacy ratio fell to 113.55%, nearing regulatory limits [3]. - By the end of 2023, these solvency ratios further declined to 55.34% and 110.67%, respectively [3]. - Following the capital increase in April 2024, the company's solvency ratios improved significantly, with the core solvency adequacy ratio reaching 114.88% and the comprehensive solvency adequacy ratio at 166.85% by June 2025 [3].