Fosun International

Positive Revision! Fosun's Ratings Affirmed by S&P

Retrieved on: 
Wednesday, May 31, 2023

HONG KONG, May 31, 2023 /PRNewswire/ -- International rating agency S&P Global Ratings issued a report, raising Fosun International Limited's (HKEX stock code: 00656, "Fosun International") rating outlook to stable.

Key Points: 
  • At the same time, sound banking relationships enabled sufficient sources of liquidity amid turbulence in the bond market.
  • The significant asset disposals and stable credit support from banks enabled Fosun's successful repayment of all concentrated maturing bonds in the past three quarters.
  • As of the end of March 2023, Fosun successfully brought down holding-company debt by about RMB24.0 billion to RMB93.0 billion.
  • S&P Global Ratings affirmed its long-term issuer credit rating and guaranteed senior unsecured notes rating on Fosun, raising Fosun's rating outlook from negative to stable.

Positive Revision! Fosun's Ratings Affirmed by S&P Global Ratings

Retrieved on: 
Tuesday, May 30, 2023

HONG KONG, May 30, 2023 /PRNewswire/ -- International rating agency S&P Global Ratings issued a report, raising Fosun International Limited's (HKEX stock code: 00656, "Fosun International") rating outlook to stable.

Key Points: 
  • The significant asset disposals and stable credit support from banks enabled Fosun's successful repayment of all concentrated maturing bonds in the past three quarters.
  • As of the end of March 2023, Fosun successfully brought down holding-company debt by about RMB24.0 billion to RMB93.0 billion.
  • S&P Global Ratings affirmed its long-term issuer credit rating and guaranteed senior unsecured notes rating on Fosun, raising Fosun's rating outlook from negative to stable.
  • Amid a challenging global financial backdrop, Fosun's credit indicators assigned by international institutions such as S&P Global Ratings still hold firm thanks to its steadfast implementation of the strategy of "streamlining the organization".

Fosun's Strategy of "Streamlining the Organization" Begins to Bear Fruit and Offshore Syndicated Loan are Launched

Retrieved on: 
Friday, May 12, 2023

The offshore syndicated loan was jointly initiated by seven banks including Bank of China, Bank of East Asia, Commerzbank, Hang Seng Bank, HSBC, Natixis Bank, and Standard Chartered Bank as lead bookrunners.

Key Points: 
  • The offshore syndicated loan was jointly initiated by seven banks including Bank of China, Bank of East Asia, Commerzbank, Hang Seng Bank, HSBC, Natixis Bank, and Standard Chartered Bank as lead bookrunners.
  • Since the formation of the syndicate, more than 10 banks have joined and banks may join through the "greenshoe option" in the next three months.
  • In January this year, Fosun's domestic entity obtained a syndicated loan of RMB12 billion.
  • Meanwhile, in the first quarter of 2023, Fosun High Technology successfully redeemed RMB5.93 billion bond in the domestic open market.

The 2023 Bund Art Festival is Coming, Starting a One-stop Art Tour at the Great Yu Garden Area

Retrieved on: 
Tuesday, May 9, 2023

From May 6th to May 31st, 2023, the third edition of Bund Art Festival is launched on the bund Shanghai, jointly created by the Fosun Foundation, Bund Financial Center (BFC) and Yu Yuan Garden Mall.

Key Points: 
  • From May 6th to May 31st, 2023, the third edition of Bund Art Festival is launched on the bund Shanghai, jointly created by the Fosun Foundation, Bund Financial Center (BFC) and Yu Yuan Garden Mall.
  • At this year's Bund Art Festival, the works of the two art ambassadors, Tan Zhuo and TANGO, hold great significance.
  • Her video installation work, "Revelation," will appear at the Bund Art Festival, using stunning artistic language to converse with the public.
  • As the link between BFC and Yu Yuan Garden Mall, Middle Fangbang Road, transformed into the Bund Cat Street, will connect the one-stop art and travel journey of the Bund Art Festival in the Great Yu Garden area.

Head of Insilico Medicine’s Hong Kong R&D Center to Give Keynote on AI Drug Discovery at HKUST Big Data Institute

Retrieved on: 
Thursday, May 4, 2023

Hong Kong, May 04, 2023 (GLOBE NEWSWIRE) -- Frank Pun, PhD, Head of the Hong Kong R&D Center of Insilico Medicine (“Insilico”), a generative artificial intelligence (AI)-driven drug discovery company, will give a keynote presentation titled “How AI is Transforming Drug Discoveries” at the Hong Kong University of Science and Technology Big Data Institute Workshop on Big Data and Biomedical & Chemistry Science on May 8, 10am, HKT.

Key Points: 
  • Hong Kong, May 04, 2023 (GLOBE NEWSWIRE) -- Frank Pun, PhD, Head of the Hong Kong R&D Center of Insilico Medicine (“Insilico”), a generative artificial intelligence (AI)-driven drug discovery company, will give a keynote presentation titled “How AI is Transforming Drug Discoveries” at the Hong Kong University of Science and Technology Big Data Institute Workshop on Big Data and Biomedical & Chemistry Science on May 8, 10am, HKT.
  • The Company’s software is trained on aging and focused on diseases with high unmet need, and two of its AI-designed drugs have reached clinical trials.
  • Insilico first proved the concept of an AI drug discovery engine in 2016 – screening 72 million compounds and identifying candidate molecules with anti-cancer properties in a paper published in Oncotarget .
  • Dr. Pun leads a team of application scientists in Hong Kong who are further developing PandaOmics , the AI-enabled biological target discovery engine of Insilico’s end-to-end platform and has published widely in top peer-reviewed journals related to his research in AI drug discovery.

Fosun together with Alipay Release Vouchers Worth RMB1.5 Billion to Help Stimulate Consumption of May 5 Shopping Festival

Retrieved on: 
Friday, April 28, 2023

Consumption boom boosts the local economies which have further launched various favorable measures to stimulate nationwide consumption.

Key Points: 
  • Consumption boom boosts the local economies which have further launched various favorable measures to stimulate nationwide consumption.
  • The 515 Fosun Family Day, a significant part of the "May 5 Shopping Festival" this year, will be heavily linked with the festival to help continuous release of potential consumption.
  • Shanghai Watch and other classic brands of Fosun Family will be rolling out during the "May 5 Shopping Festival".
  • Fosun will distribute consumption vouchers worth a total of over RMB1.5 billion via Alipay to help boost the spending of the May 5 Shopping Festival through a combination of online and offline scenarios.

Strong Rebound in Tourism Demand, Core Business Grows Across the Board, Fosun Tourism's Tourism Operations Business Volume Surged Nearly 40% in Q1 2023

Retrieved on: 
Friday, April 21, 2023

Benefiting from the overall growth of its core business, the Group's unaudited profit attributable to shareholders of the parent company multipled by several times in the first quarter of 2023.

Key Points: 
  • Benefiting from the overall growth of its core business, the Group's unaudited profit attributable to shareholders of the parent company multipled by several times in the first quarter of 2023.
  • Due to the gradual lifting of travel restrictions in various countries, the Group's global business has grown rapidly.
  • The Group is aiming to open 17 new resorts and spaces by 2025, seven of which will be located in China.
  • In the first quarter of 2023, Atlantis Sanya recorded approximately 1.8 million visits, a year-on-year increase of approximately 61.9%.

Endurance RP: Excellent Positive Results from Phase 3 Randomised Clinical Trial of Fortacin(TM)/Senstend(TM) in China

Retrieved on: 
Monday, April 17, 2023

Compared to both baseline and placebo, Senstend(TM) produced clinically and statistically significant increases in IELT, ejaculatory control and satisfaction and reduction in distress.

Key Points: 
  • Compared to both baseline and placebo, Senstend(TM) produced clinically and statistically significant increases in IELT, ejaculatory control and satisfaction and reduction in distress.
  • Jamie Gibson, CEO of the Group, said, "We are delighted with the highly significant and positive results from the Phase 3 clinical study in China, which reinforces the results from the European and US Phase 3 clinical studies.
  • All costs of the clinical trials, including any other associated regulatory and submission costs for Senstend(TM) are covered by Wanbang Biopharmaceutical.
  • The Company reports positive results in certain countries in the European Union, where Fortacin(TM) has returned to the market.

China International Consumer Products Expo Signals the Arrival of Consumption Recovery. Fosun's Approach to Ride on the Momentum of Consumption Recovery

Retrieved on: 
Thursday, April 13, 2023

HONG KONG, Apr 13, 2023 - (ACN Newswire) - On 10 April, the third China International Consumer Products Expo (CICPE) kicked off in Haikou as scheduled.

Key Points: 
  • HONG KONG, Apr 13, 2023 - (ACN Newswire) - On 10 April, the third China International Consumer Products Expo (CICPE) kicked off in Haikou as scheduled.
  • The CICPE shows that a new round of consumption recovery may have already arrived, and new consumer trends have also emerged.
  • How will Fosun, which has many world-renowned brands and IPs, leverage its strengths to ride on the momentum?
  • Shede Spirits is presenting a number of international spirits award-winning products, including Wisdom Shede, Tunzhihu (sauce-flavored), and Shede Classic at the expo.

Shede Spirits Global Brand Listing Ceremony Held in London, Showcasing the Premium Charm of Shede Old Liquor to the World

Retrieved on: 
Thursday, April 6, 2023

On March 29th, the "Shede Spirits Sharing Chinese Wisdom with the World and Shede Brand Night" was held in London.

Key Points: 
  • On March 29th, the "Shede Spirits Sharing Chinese Wisdom with the World and Shede Brand Night" was held in London.
  • View the full release here: https://www.businesswire.com/news/home/20230405005829/en/
    "Shede Spirits Global Brand Listing Ceremony held in London, showcasing the premium charm of Shede old liquor to the world."
  • (Photo: Business Wire)
    During the brand listing ceremony, Liu Mingtao extended his sincere congratulations to Shede Spirits for its successful promotion and listing in the UK.
  • As one of the foremost enterprises representing the internationalization of Chinese liquor, Shede Spirits is dedicated to continuing its efforts to expand the global reach of Chinese liquor.