Fosun International reported a 160.3% year-on-year surge in net profit attributable to shareholders for the first half of 2026, rising to RMB 1.72 billion, while total revenue increased 3% to RMB 86.96 billion. Core revenue, excluding the impact of HAL’s deconsolidation, grew 4.6% to RMB 63.88 billion, representing 73.5% of group revenue.
Industrial operating profit climbed 17% to RMB 3.69 billion, supported by a 16.7% increase in technology and innovation investment to RMB 4.2 billion. Group portfolio value reached RMB 192 billion as of June 30, 2026, with listed insurance assets accounting for 55%. Adjusted net asset value stood at RMB 128 billion, or HK$18.1 per share, with a price-to-NAV ratio of 0.29.
The conglomerate reduced interest-bearing liabilities to RMB 85.4 billion from RMB 89.9 billion at the end of 2025, lowering its total debt-to-total capital ratio to 55.7%. Cash inflows from asset divestments and dividends totaled RMB 9.3 billion, including contracted sales of RMB 7 billion in non-core assets. The average cost of debt was 5.2% at the group level and 5.0% on a consolidated basis, with RMB 5.22 billion raised through public market financing during the period.
Revenue growth was led by the health segment, which rose 6.5% to RMB 24.03 billion, driven by Fosun Pharma’s RMB 20.38 billion in sales and Henlius’ RMB 3.59 billion. Overseas revenue in the segment exceeded RMB 10 billion, up 16% year-on-year, while innovative drug sales reached RMB 4.9 billion, accounting for 33% of pharma revenue. Fosun Health and Luz Saúde in Portugal contributed RMB 3.74 billion and EUR 0.45 billion, respectively.
The happiness segment reported RMB 33.63 billion in revenue, with Laomiao Jewelry’s revenue more than doubling year-on-year and Nanxiang opening three new overseas stores. Atlantis Sanya recorded RMB 850 million in revenue, growing at a double-digit pace.
The wealth segment generated RMB 27.23 billion in revenue, with industrial operating profit of RMB 2.96 billion, largely from insurance operations exceeding RMB 2 billion. Peak Re’s total premiums rose 12% to $1.19 billion, with net profit of $90 million, while Pramerica Fosun Life Insurance’s premiums surged 52% to RMB 8.38 billion. Millennium BCP posted a 12.7% year-on-year increase in net profit to EUR 570 million.
Fosun’s overseas revenue accounted for 56% of total group revenue, spanning operations in over 40 countries. The company set a midterm net profit target of RMB 10 billion, alongside a deleveraging goal to reduce interest-bearing liabilities below RMB 60 billion. Dividend payouts are targeted at 35% of earnings, with fiscal 2026 dividends expected to total at least HK$1.5 billion.
Major shareholders and management plan to repurchase up to HK$500 million in shares by March 30, 2027. Fosun Health Capital launched a new drug fund phase II, raising RMB 2 billion, while commercial real estate REITs issuance for Atlantis Sanya has commenced.
The stock traded at $5.41, near its 52-week high of $5.79 and well above its low of $3.42.
