FOSUN INTL(HK:00656)2024-04-14 16:00Investment Rating - The report maintains a "Buy" rating for the company [4][5] Core Views - The company focuses on four main business segments: health, happiness, wealth, and intelligent manufacturing. It has accelerated the exit from non-core assets and optimized its capital structure to better concentrate on its core businesses. Investors are advised to pay attention to the company [4][5] - The company achieved a revenue of RMB 198.2 billion in 2023, representing a year-on-year increase of 8.6%. The net profit attributable to shareholders was RMB 1.38 billion, with a significant year-on-year growth of RMB 2.21 billion [5][6] - The average financial cost slightly increased, with the average debt cost rising from 4.71% in 2022 to 5.60% in the reporting period. The total debt to total capital ratio decreased by 2.9 percentage points to 50.4% [5][6] - The overseas business showed strong momentum, with overseas revenue reaching RMB 89.2 billion, accounting for 45.0% of total revenue, and a year-on-year growth of 6.0% [5][6] Financial Summary - For the fiscal year 2023, the company reported the following key financial metrics: - Revenue: RMB 198.2 billion - Year-on-year growth: 8.9% - Net profit attributable to shareholders: RMB 1.38 billion - Year-on-year growth: 156.0% - Earnings per share: RMB 0.17 - Return on equity (ROE): 1.12% [4][12][13] - Forecasts for the next three years indicate continued growth in revenue and net profit, with expected revenues of RMB 223.6 billion in 2024 and RMB 251.6 billion in 2025, alongside net profits of RMB 3.75 billion and RMB 4.79 billion respectively [4][12][13]