Fosun Intl 1H Revenue Keeps Growing, Debt Ratio Reduces to 50.2%
HONG KONG, Aug. 28, 2024 /PRNewswire/ -- Fosun International Limited (HKEX stock code: 00656) announced its interim results for the six months ended 30 June 2024. During the Reporting Period, the Group's revenue continued to grow, reaching RMB97.84 billion; industrial operation profit maintained growth, reaching RMB3.47 billion. The four core subsidiaries, namely Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and Fosun Tourism Group, achieved a total revenue of RMB72.17 billion, maintaining year-on-year growth and accounting for 74% of the Group's total revenue.
As of the end of the Reporting Period, the Group's adjusted total debt-to-capital ratio was 50.2%, maintaining a downward trend since 2020. Cash and bank balances and term deposits reached RMB109.55 billion, representing an increase of RMB17.1 billion compared to the end of 2023. International rating agency S&P fully recognized the effectiveness of Fosun's financial strategy and affirmed its rating outlook as "stable".
In the 17 years since its listing, Fosun has accumulatively paid out HK$25.6 billion in dividends, with the dividend payout ratio gradually increasing to over 20% in the past five years. As of the end of the Reporting Period, adjusted NAV was HK$17.4 per share.
High-quality global business has become a new growth driver of Fosun. As of the end of the Reporting Period, Fosun has established industrial presence in over 35 countries and regions around the world, the Group's overseas revenue reached RMB45.87 billion in the first half of 2024, representing a year-on-year increase of 4%, and accounting for 47% of total revenue.
In the first half of 2024, Fosun's investment in technology innovation reached RMB3.5 billion. It achieved groundbreaking progress in innovative drugs R&D, 4 products with a total of 9 indications were approved for marketing; 4 products with a total of 9 indications had entered the pre-launch approval stage/ key clinical stage; and 9 products (by indication) have been approved to conduct clinical trials.
SOURCE Fosun
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