FOSUN INTL(00656) 财富在线·2025-04-07 06:07Core Viewpoint - FOSUN International is accelerating the exit from non-core assets and focusing on its main business, with an increasing proportion of overseas business revenue and a stable overall revenue growth [1][2]. Financial Performance - In 2024, FOSUN International reported total revenue of RMB 192.14 billion, with four core subsidiaries contributing RMB 134.65 billion, accounting for 70.1% of total revenue [1]. - The operating profit from industrial operations reached RMB 4.9 billion, and the net profit attributable to shareholders, excluding significant one-time impacts, was RMB 750 million [1]. - The group’s total debt-to-capital ratio stood at 52.0%, with cash, bank balances, and time deposits amounting to RMB 106.34 billion [1]. Strategic Focus - FOSUN is deepening its focus on four business segments: health, happiness, wealth, and intelligent manufacturing, while optimizing its capital structure [2]. - The company aims to gradually increase the proportion of overseas revenue, which reached 49.3% in 2024, with significant growth in core subsidiaries' overseas operations [2]. - FOSUN's management plans to reduce interest-bearing debt from over RMB 80 billion to RMB 60 billion in the coming years [3]. Market Position and Valuation - Analysts believe that FOSUN's strategy of "streamlining and strengthening" is reflected in its financial performance, with potential for valuation and market performance to return to reasonable levels as core business growth potential is realized [4]. - As of December 31, 2024, FOSUN International's adjusted NAV was HKD 17.6 per share, indicating that the current stock price is significantly undervalued [4].