A Detailed Look at Fosun International’s Annual Results: Create Space to Concentrate on Core Businesses in 2022, Poised for Rebound in 2023
HONG KONG, Mar 30, 2023 - (ACN Newswire via SEAPRWire.com) - After a year of ups and downs, can Fosun spark a new round of growth by continuing its strategy of "streamlining the organization and focusing on core businesses"? Fosun International released its 2022 annual results on 29 March, revealing some clear signals.Fosun International reported both growth and declines in its annual results announcement. The total revenue for the year was RMB175.39 billion, representing a year-on-year increase of 8.7%; the net profit attributable to owners of the parent was RMB0.54 billion as compared to RMB10.08 billion in the same period of 2021. The sharp decline in net profit attributable to owners of the parent was mainly due to the recurrent outbreak of COVID19 pandemic in 2022 and the turmoil and downturn of the international capital markets, resulting in high business costs and an increase in floating losses in secondary capital market investment. By sorting out data such as balance sheets, cash flow statements, asset disposals, and business changes, it is clear that the "transient" impact of the pandemic fades away, Fosun, which has accelerated its focus on core businesses in the househo...
