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Wang Qunbin
CEO, Fosun International
World Class· Family-Oriented · Consumer-Driven
Disclaimer
It is not the intention of this document to provide a full explanation of any relevant matters of Fosun International Limited (the “Company”). You must refrain from relying on any information set out in this document. No statement, guarantee or undertaking is or will be made or given at present or in the future in respect of the accuracy, fairness, reasonableness, correctness or completeness of this document or any information or opinions set forth herein or any other information or opinions, whether written or oral, available to any stakeholder or its advisers, nor is there or will there be any express or implied indication made in respect of the above content at present or in the future. None of the Company or any of its shareholders, directors, officers, employees, affiliates, advisers or representatives (the “Parties”) shall assume any liability, including but not limited to liability for default, for or in respect of the above content at present or in the future. The Parties expressly state that they shall not be held liable for any loss resulting from the use of this document or its content or in any other manner in connection with this document. It is assumed that information set out in this document is appropriate for the current situation and such information could be subject to change without notice. None of the Parties shall be held liable for procuring the receipt of information under this document by any recipients, updating information under this document, or correcting any manifest error contained under this document. In the event of any conflict between this document and the final results announcement of the Company for the whole year of 2018, and the annual report of the Company for the whole year of 2018 (collectively, the “Annual Documents”), the Annual Documents shall prevail.
Cautionary Statement Regarding Forward-Looking Statements
This PPT includes forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that Fosun International Limited (the “Company”) expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forward-looking statements. The Company’s actual results or developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, and other risks and factors beyond our control. In addition, the Company makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements. The financial figures in this PPT are calculated using the average exchange rate for the reporting period January 2018 to December 2018 (USD/CNY= 6.63379 HKD/CNY= 0.84641), and period-end exchange rate as of 2018/12/31 (USD/CNY= 6.86320 HKD/CNY= 0.87620 ), unless otherwise stated..
VisionRooted in China, creating a global happiness ecosystem fulfilling the needs of one billion families in health, happiness and wealth ecosystems
MissionCreating happier lives for families worldwide
Strategy
• Centered around family customers
• C2M Model
• Industry Operations + Industrial Investment
and Capital
• Technology & Innovation + Creative Design
• Glocalization 2.0
Health EcosystemPharmaceutical
Health Care
Maternal & Infant care
Health Product
Healthcare Tech
Happiness Ecosystem
Tourism & Culture
Fashion
New Commerce
Entertainment
Wealth Ecosystem
Insurance
Financial Service
Fintech
Fosun Ranks 416 on Forbes Global 500
109.4 billion
1. Unit: RMB2. As at 31 December 2018
13.4
108.5 billion Approx.70,000About half overseas
Ranks No. 416Ranks No.430
Ranks No.432
2019 Forbes Global 2000 List
Revenue Net Profit
Net Assets Employees
billion
1
2
Healthy Balance Sheet
Leverage Ratio
53.7%Total Debt / Total Capital
Credit Rating
BBMoody’s also upgraded Fosun’s rating from Ba3 to Ba2 stable in January 2018
positive
S&P
15% 20%ROE Target
2018 ROE 12.8%
IRRROE
IRR Target
Operational Targets
Growth Momentum
26% 15%10-year CAGR
(2018 net profit: RMB 13.4 billion)
BVPS GrowthNet Profit Growth
10-year CAGR
1
1. Book Value Per Share
Note: 1. ~ 60% discount represents share price as at May 31, 2019 against adjusted NAV per share as at Dec 31, 2018 Note 2. Last Twelve Months (LTM) from June 25, 2018 – May 24, 2019
P/E Ratio
5.7xP/B 0.7x as at May 31, 2019
Dividend Yield
3.7%As at May 31, 2019
LTM Buybacks
615mln
~0.53% of free float
From Jan 1, 2019 to May 24, 2019,
Buybacks totaled 6.8 mln shares
or HKD$71.41 mln
Investment opportunity
Discount to NAV
~60%Adjusted NAV per share
HKD$24.84 as at Dec 31, 2018
2
HKD$
1
C2Mportfolio company customers
>330Million
active consumers in Fosun’s core subsidiaries
>100Million
Family Customer-Oriented
Unit:RMB 100 million
0
200
400
600
800
1,000
1,200
2013 2014 2015 2016 2017 2018
2C 2B
48.9%
63.8% 74.9%
82.6%
87.6%
CAGR of 2C Revenue Growth 36%
CAGR of Total Revenue Growth 16%
C2M – 2C-driven revenue continues to grow
41.1%
复星化妆品
……
2010 2016 2017 2018
Industry Operations + Industry Investments + Capital Markets
IPOLaunch of Foliday Platform
Building N Industry Groups
Industry Operations + Industrial Investment and Capital
Capability of Operational Turnaround
Mid-office Mechanism Empowers ‘1+N’ Ecosystem
Intelligent Mid-office Mechanism (FBS)
1
Product
N
Brand
Industrial Group
N2
C2M Happiness Ecosystem
NN
0
1. Note: 1. FBS stands for Fosun Business System.
1
~30%Profit before Tax
competitive products through R & D and design
Bio-medicine
Creative Fashion
Fin-tech
……
Unicorns through incubation and investment
Henlius
Aitrox
Wedoctor
Hellobike
Cainiao
……
Technology & Innovation + Creative Design
AI-driven mid-office
Artificial
ntelligence
Big Data
IoTs
Fosun Cloud
SaaS
……
Chinese MainlandFosun PharmaSinopharmFosun United Health InsuranceUnited Family HealthcareYuyuanAtlantis SanyaBaihe JiayuanTsingtao BreweryBabytreeThe Little GymPramerica-Fosun Life InsuranceForteBFCNanjing Iron & SteelJEVE……
United KindomResolutionSilver Cross狼队
GermanyTom TailorH&ANAGAKollerFFT
PortugalFidelidadeLuz SaúdeBCP
India Gland PharmaDelhivery
BrazilRio BravoGuide
RussiaFosun Eurasia
United StatesSt. John28 LibertyStudio 8AmeriTrust
FranceClub MedLanvinSt HubertPAREFTridem
IsraelAHAVASisram Hong Kong SAR China
Peak ReinsuranceFosun Hani Securities
ItalyCarusoTHE MEDELAN
AustriaWolford
CanadaCirque du Soleil
Cote d’Ivoire、Ghana、NigeriaGlinther
Angola、MozambiqueBCP MillenniumFidelidade
JapanIDERATomamu
Peru、BoliviaLa Positiva
PolandBCP Millennium
AustraliaRoc Oil
Globalization 2.0
1. Diagram shows selection of Fosun portfolio companies
1
50+ Global Partners
Thank You