来源：滚动播报 复星国际旗下保险公司Fidelidade的IPO估值据悉或超30亿欧元。 ...

Group 1 - Spot gold reached $5050 per ounce, with a daily increase of 0.54% [1] - Spot silver saw a daily increase of 1%, reaching $81.54 per ounce [1] - The gains for both gold and silver narrowed later in the day [1] Group 2 - MSCI announced its quarterly index adjustments effective after the market close on February 27, 2026 [1] - Notable additions to the MSCI China Index include 37 stocks such as Liou Co., Silver Holdings, Anji Technology, and Pony.ai [1] - The index will remove 16 stocks, including Fosun International, Great Wall Motors, and Vanke Enterprises [1]

医药赛道方面，2025年多项关键性的创新药BD为未来复星创新药的可持续性增长，打下了坚实的基 础。其中，复星医药控股子公司药友制药与辉瑞签订全球独家许可协议，授予辉瑞口服小分子GLP-1药 物YP05002全球范围内独家开发、生产及商业化权利，协议包含首付款、里程碑付款及销售分层特许权 使用费，潜在总金额超20亿美元；复星医药控股子公司复星医药产业与生物技术公司Clavis Bio达成战 略合作，双方将基于由Clavis Bio提名的前沿靶点共同开发创新疗法，根据协议，复星医药将可获得至 多72.5亿美元付款。 2026年开年以来，复星在旅文、医药、保险等核心赛道表现亮眼。公开信息显示，复星旗下ClubMed国 内5家精致"一价全包"度假村入境营业额较去年同期实现翻三倍增长，旗下生物医药研发平台复宏汉霖 宣布与卫材株式会社就抗PD-1单抗汉斯状在日本达成独家商业化及共同独家开发与生产许可协议，潜 在总金额超3亿美元。 新春旅游需求的承接及创新药的持续商业化落地等，延续了复星2025年核心赛道稳中有升的发展态势。 纵观复星过去一年的发展和今年的开年势头，"瘦身健体"的战略推进依旧坚定：退出一些非核心项目的 同时 ...

Core Insights - Fosun has reported significant growth in its core sectors, including tourism, pharmaceuticals, and insurance, with notable achievements in early 2026 [1][2][3] Tourism Sector Performance - Fosun's Club Med resorts in China saw a threefold increase in inbound revenue compared to the same period last year, with a 33% revenue growth during the New Year period [1][2] - The company launched three major product lines in 2025, resulting in 14 project signings, including five super resorts and eight super tourism zones [2] - The average occupancy rate for three ice and snow resorts exceeded 97%, while two sunshine resorts doubled their revenue [2] Pharmaceutical Sector Developments - Fosun Pharma's subsidiary signed a global exclusive licensing agreement with Pfizer for a GLP-1 drug, with potential total payments exceeding $2 billion [3] - The company is also collaborating with Clavis Bio for innovative therapies, with potential payments up to $7.25 billion [3] - Fosun's innovative drugs are expected to achieve significant market breakthroughs in 2026, with several products anticipated to receive regulatory approvals [3] Insurance Sector Growth - Fosun's insurance companies reported substantial growth, with Fosun United Health Insurance's revenue reaching 7.84 billion yuan, a 50% increase year-on-year [3][4] - Fosun Baodexin Life Insurance achieved a 36.2% revenue growth, totaling 12.6 billion yuan, with a net profit increase of over 450% [3][4] Financial Health and Strategy - Fosun has maintained a strong financial position, with a debt-to-capital ratio of 53% and a decrease in debt costs [5][6] - The company successfully executed significant equity sales, raising substantial funds to support its core business focus [6] - Fosun plans to reduce interest-bearing debt by approximately 10 billion yuan annually over the next two to three years, aiming for an "investment-grade" rating [6] Future Prospects - Fosun is preparing for potential IPOs of two subsidiaries, which could enhance strategic synergies and investment returns [7] - The company is well-positioned to capitalize on opportunities in the aging population and the growing demand for health and wellness, as well as tourism in emerging markets [7][8]

江苏是复星长期深耕的重点区域，累计投资1000余亿元，涵盖多个产业板块。近年来，依托医药健康、 文旅消费等产业优势，复星持续加大在苏布局发展，形成了良好的社会效益和经济效益。 在医药健康领域，复星医药（600196）已在江苏形成了深度协同的产业生态。旗下复星万邦集团持续推 进创新发展，创新成果加速惠及患者，近五年来多款创新药、生物类似药成功上市。"十五五"期间，复 星万邦将持续保持创新研发投入，聚焦代谢、血液、肿瘤、呼吸、自身免疫、眼科等治疗领域，努力打 造技术领先、具有成本优势的国际化制药平台。此外，复星医药发起设立的复健资本与苏州合作成立的 新药创新基金，目前已落地多个优质项目，涵盖基因治疗、mRNA等技术赛道。复星健康在江苏的多家 参控股医院也取得长足发展。 在文旅消费领域，复星旅文打造的太仓阿尔卑斯国际度假区成为长三角"冰雪经济"的新标杆，一期项目 自2023年11月开业以来，已累计接待游客超200万人次。二期工程已于2025年6月动工，计划2029年6月 投入运营，届时度假区将开创"最长室内雪道"等多项纪录，打造世界级冰雪度假新地标。南京仙林Club Med地中海白日方舟度假村自2023年10月开业 ...

Group 1 - The meeting between Jiangsu Province Governor Liu Xiaotao and Fosun International Chairman Guo Guangchang highlights the importance of collaboration in various sectors such as biomedicine, healthcare, culture, tourism, consumption, and finance [1] - Governor Liu emphasized the ongoing efforts to integrate technological and industrial innovation in Jiangsu, aiming to accelerate the development of new productive forces [1] - Fosun International is committed to leveraging its strengths to meet Jiangsu's development needs and enhance cooperation across its business segments, contributing to the province's high-quality development [1] Group 2 - The meeting was attended by Nanjing Mayor Li Zhongjun and Provincial Government Secretary Zhao Jianjun, indicating a high-level engagement between government and business [2]

Market Overview - AMD's overnight drop of 17% triggered a significant decline in chip stocks, leading to a 1.95% drop in the Chinese concept index, which negatively impacted the Hong Kong stock market [1] - The Hang Seng Index fell by 340.88 points, or 1.27%, to 26,506.44 points, while the Hang Seng Tech Index decreased by 62.30 points, or 1.16%, to 5,304.14 points [1] - Major tech stocks like Tencent and Alibaba saw declines of nearly 3% and 2.5%, respectively, with Tencent's market value dropping below 500 billion [1] Company Performance - Xinda Biopharmaceuticals (01801.HK) projected total product revenue of approximately RMB 11.9 billion for 2025, reflecting a year-on-year growth of about 45% [2] - Lee & Man Paper Manufacturing (02314.HK) expects profits for 2025 to be between HKD 1.88 billion and HKD 2.00 billion, indicating a year-on-year increase of 38% to 47% [2] - ZTO Express (02057.HK) anticipates total revenue of RMB 48.5 billion to RMB 50 billion for 2025, representing a year-on-year growth of approximately 9.5% to 12.9% [2] - China Resources Cement (01313.HK) forecasts a year-on-year profit increase of about 115% to 135% for 2025, driven by reduced costs and impairment losses [2] Corporate Actions - Goldin Properties (00535.HK) reported a January contract sales total of approximately RMB 239 million, a year-on-year decrease of 61.82% [3] - Fosun International (00656.HK) plans to subscribe for additional registered capital of RMB 105 million in Shangmeng Technology, acquiring a 51.0879% stake post-increase [3] - Shanghai Pharmaceuticals (02607.HK) intends to publicly transfer its 30% stake in Bristol-Myers Squibb, with a minimum listing price of approximately RMB 1.023 billion [3] - China Coalbed Methane (08270.HK) completed the sale of 100% equity in Shanxi Qingshui Shuntai Energy Development [4] Investment Trends - The active repurchase of shares continues, with Kingsoft (03888.HK) repurchasing 1.0886 million shares for approximately HKD 29.99 million [9] - Xiaomi Group (01810.HK) repurchased 4.3 million shares for a total of HKD 146 million [10] - Kingdee International (00268.HK) repurchased 1 million shares for approximately HKD 11.1 million [11] Market Outlook - Guoyuan International's report suggests that the Hong Kong stock market may experience short-term volatility due to external factors, but maintains a positive long-term outlook [12] - CITIC Securities highlights the potential for new investment opportunities in emerging markets, despite risks from rising oil prices and long-term bond yields [12] - Galaxy Securities recommends focusing on technology, energy, precious metals, and consumer sectors for potential rebounds [13]

复星国际 20260204 摘要 复星国际正实施瘦身健体战略，目标在未来五年内系统性提升盈利能力、 现金流创造及资产负债表健康度，并逐步提升股东分红水平，目前分红 维持在 20%左右。 复星健康创新药收入高速增长，多款产品具重磅潜力；豫园股份时尚珠 宝业务盈利夯实，白酒业务随消费复苏具业绩恢复潜力；复星旅文加速 全球度假村网络拓展，盈利改善可期；复星普大保险保费收入强劲增长， 葡萄牙市占率第一。 复宏汉霖已有 10 款产品在国际市场获批上市，海外销售表现良好，预 计未来三年显著增长，PD-L1 和 ADC 等创新品种有望冲击百亿美金级 别的全球商业化销售峰值。 HR 公司胃癌手术期 3 期注册研究成功后，已在全球 30 多个国家和地区 获批并商业化，美国等主要市场上市进程将根据当地临床审批节奏推进。 公司坚持将付息负债降至 600 亿以下，公开市场债务占比降至 25%以 下的中长期目标，豫园股份黄金珠宝业务积极进行品牌形象转变与年轻 化转型。 Q&A 复星国际的核心资产组合和最新财务状况如何？ 截至 2026 年年中，复星国际的总资产约为 8,000 多亿人民币，年收入超过 1,700 亿人民币。公司目前的海 ...

智通财经APP讯，复星国际(00656)发布公告，于2026年2月4日，本公司的间接全资附属公司浙江复星商 业发展有限公司(复星商发)与浙江商盟科技有限公司(商盟科技)、亚东星辰创业投资有限公司(亚东星辰) 及宁波梅山保税港区统付企业管理合伙企业(有限合伙)(宁波统付)订立一份《增资协议书》。复星商发 同意以现金人民币1.05亿元认购商盟科技新增注册资本，对应取得商盟科技增资后51.0879%的股权。 商盟支付为全球客户提供一站式收付解决方案，跨境支付场景涵盖跨境电商、跨境贸易、跨境商旅等领 域，国内支付场景涵盖文旅、消费金融、新零售等领域，具备稳健的业务基础与良好的发展潜力。 透过本次增资，本公司可分享商盟科技未来成长收益，同时藉助商盟科技与本集团线上线下生态的协同 效应，连结境内及跨境各类业务场景。 截至本公告日，商盟科技持有商盟支付 100%股权。商盟支付核心资质完备，持有中国支付业务许可证 和跨境人民币许可，支付业务许可证的许可事项为储值账户运营 I类、储值账户运营 II类(浙江省、上海 市);同时，商盟科技持有香港金钱服务经营者(Money Service Operator)牌照，与商盟支付的境内支 ...

商盟支付为全球客户提供一站式收付解决方案，跨境支付场景涵盖跨境电商、跨境贸易、跨境商旅等领 域，国内支付场景涵盖文旅、消费金融、新零售等领域，具备稳健的业务基础与良好的发展潜力。 透过本次增资，本公司可分享商盟科技未来成长收益，同时藉助商盟科技与本集团线上线下生态的协同 效应，连结境内及跨境各类业务场景。 截至本公告日，商盟科技持有商盟支付 100%股权。商盟支付核心资质完备，持有中国支付业务许可证 和跨境人民币许可，支付业务许可证的许可事项为储值账户运营 I类、储值账户运营 II类(浙江省、上海 市);同时，商盟科技持有香港金钱服务经营者(Money Service Operator)牌照，与商盟支付的境内支付体 系形成协同，共同构建起金融级境内外一体化支付系统。 智通财经APP讯，复星国际(00656)发布公告，于2026年2月4日，本公司的间接全资附属公司浙江复星商 业发展有限公司(复星商发)与浙江商盟科技有限公司(商盟科技)、亚东星辰创业投资有限公司(亚东星辰) 及宁波梅山保税港区统付企业管理合伙企业(有限合伙)(宁波统付)订立一份《增资协议书》。复星商发 同意以现金人民币1.05亿元认购商盟科技新增 ...