“We aim to double our industrial operation profit from RMB4.9 billion this year (approximately RMB5.0 billion) to approximately RMB10.0 billion in the next five years. As interest rates decline and our industrial operational capabilities improve, we expect our operating profits to increase steadily,”Guo Guangchang, Chairman of Fosun International limited, reiterated his confidence in Fosun’s sustainable and stable profitability at the Fosun International 2024 annual results presentation.

“As you can see, 49% (of Fosun’s total revenue) now comes from overseas markets. First, this revenue is generated from the overseas expansion and sales of Chinese companies and industries where China has a competitive advantage. Second, it is generated from the global expansion of the overseas companies that we have invested in. For example, Fidelidade has half of its profits from markets outside Portugal, which is rare and truly remarkable,” Guo Guangchang said at the results presentation.

The vast global market has undoubtedly given Fosun the confidence to achieve steady growth.

Product Capabilities, the Foundation for Going Global

Strong product capabilities are the key to Fosun’s competitiveness in the global market, driven by its “innovation” gene, particularly in the field of biopharmaceuticals. Last November, HANQUYOU made its first shipment to the U.S., achieving commercial supply to countries and regions including China, Southeast Asia, North America, Europe, the Middle East, and Latin America. In February 2025, HANSIZHUANG was approved for marketing in the European Union. This milestone makes it the first and only anti-PD-1 monoclonal antibody approved for the first-line treatment of extensive-stage small cell lung cancer (ES-SCLC) in the European Union. Additionally, HANBEITAI was approved for marketing in Bolivia in the same month, bringing Henlius’ total number of self-developed products approved for overseas marketing to four.

In just four months, Fosun has achieved significant breakthroughs in the overseas expansion of biologics. This success is a result of Fosun Pharma’s evolution fromthe“product export model” to the “comprehensive internationalization of research, manufacturing, and sales”, which has led to a number of global products generating sales exceeding RMB10.0 billion. Notably, its subsidiary Henlius has become the first Hong Kong-listed “18A” pharmaceutical company which turned to profit through product sales.

Leveraging strong product capabilities, Fosun has introduced its good products to the global market while also promoting Chinese culture globally. The Yuyuan Lantern Festival has been held overseas for consecutive years, and the century-old restaurant Songhelou has also opened its first overseas store in London.

Achieving Global Success Through Global Operations

Globalization involves more than just introducing products to overseas market. Fosun has maintained an overseas revenue proportion of over 40% for several consecutive years. Beyond overseas expansion of products, Fosun leverages its robust global industrial operational capabilities. Its ability to manage complex and diverse business operations is another key aspect of its global competitiveness.

In Portugal, Fosun’s extensive operational experience in the fields of “insurance + investment” has enabled Fosun Insurance Portugal to diversify its asset allocation and expand its business across Portugal and Europe. Furthermore, Fosun’s global organizational capabilities have allowed Fosun Insurance Portugal to achieve breakthroughs beyond the European market, extending its business to South America, Africa, and other regions. In 2024, Fosun Insurance Portugal’s gross written premiums reached approximately EUR6.2 billion, of which international business accounted for nearly 30% of the total. In contrast, Fosun Insurance Portugal’s overseas revenue proportion was less than 5% in 2014.

Another aspect of Fosun’s global industry operations is its regional presence and localized operational capabilities established within the local area. By understanding and respecting local cultures, empowering local communities, and achieving long-term win-win development, Fosun has successfully driven business growth overseas while building a good reputation.

Regarding Club Med, a brand with over 70 years of history and rich French cultural heritage, Fosun fully respects and preserves the brand’s cultural identity. It has implemented differentiated strategies and localized operations based on the unique resources of different regions, enabling Club Med to rapidly complete its high-end transformation and launch new product lines and resorts to the global market. With over a decade of global operations under Fosun, Club Med now has nearly 70 summer and winter resorts in 26 countries and regions around the world. In January 2018, during a visit to China, French President Emmanuel Macron praised Club Med as a model of win-win economic cooperation between China and France.

Combining global growth momentum with global resources

Today, Fosun has established profound industry operations in over 35 countries and regions around the world, and conti

nues to advance its efforts to expand its global presence.

Fosun is expanding its global operations to include emerging markets such as Southeast Asia and the Middle East. In the past year, HANQUYOU became the first China-developed monoclonal antibody biologic to enter the Middle East market. In addition, Henlius established a strategic collaboration with AL-TIRYAQ AL-KHALAWI Medical Company (SVAX) in Saudi Arabia. Moreover, Hainan Mining successively signed cooperation agreement with Ajlan & Bros Mining Company in Saudi Arabia and successfully acquired oil interests in Oman.

Good products, bolstered by “China’s competitiveness”, have enabled Fosun to engage deeply in the global market. Through organizational evolution and profound global operations, Fosun has fully mobilized its unique advantages in efficiency, innovation, resources, and costs, and combined them with global networks and capabilities. These globalization capabilities are bringing Fosun a future marked by greater certainty and growth.

“For more than ten years, we have consistently focused on building globalization capabilities, and we are increasingly reaping the rewards of this effort. I firmly believe this is the right path,” Guo Guangchang said at the results presentation.