Fosun International Reports Strong 2024 Revenue Amid Economic Challenges
Shanghai, Sunday, 30 March 2025.
Fosun International achieved RMB192.14 billion in revenue in 2024, with core operations remaining stable despite a one-off loss. Their focus on innovation and globalization drives continued growth.
Financial Performance Overview
Fosun International Limited (HKEX: 00656) announced its annual results for the year ended December 31, 2024, on March 30, 2025 [1]. The company’s four core subsidiaries, including Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and Fosun Tourism Group, generated a combined revenue of RMB134.65 billion, representing 70.1% of the group’s total revenue [1]. Despite maintaining stable operational fundamentals, the company reported a loss attributable to owners of RMB4.35 billion [1], primarily due to significant adjustments in investment valuations.
Strategic Global Expansion
The company’s international presence continues to strengthen, with overseas revenue accounting for 49.3% of total revenue, marking a year-on-year increase of 6.2% [1]. This global expansion is supported by substantial investments in innovation, with approximately RMB6.9 billion allocated to technology development across more than 20 global innovation centers [1]. Notably, Fosun Insurance Portugal has achieved significant digital transformation, serving over 1.9 million digital users, approximately 20% of Portugal’s total population [1].
Investment Portfolio Adjustments
A significant factor in the 2024 financial results was the adjustment in the carrying value of Fosun’s investment in Cainiao Smart Logistics Network Limited [3]. The company’s 564.18 million shares in Cainiao, valued at approximately USD1.05 billion at the end of 2023, faced a substantial revaluation following Alibaba Group’s share repurchase at USD0.62 per share [3]. This resulted in a one-off non-cash book loss of approximately RMB5.1 billion [3].
Future Outlook and Corporate Strategy
Chairman Guo Guangchang emphasized the company’s strategic focus and robust industrial operational capabilities as key drivers for long-term development [1]. The company maintains strong environmental, social, and governance (ESG) credentials, holding an MSCI ESG rating of AA and achieving an HSI ESG rating of AA- [1]. Fosun’s commitment to social responsibility is evidenced through initiatives such as the Rural Doctors Program, which supports 25,000 rural doctors across 78 counties in 16 provinces [1].