Fosun International just announced its interim results for 2022 and total revenue was RMB82.89 billion (renminbi or yuan), up 17.7% year-over-year.
Fosun International Limited together with its subsidiaries, which own the fashion house Lanvin or the tourism group Club Med, among others, announced its financial results for the six months ended June 30, 2022. In the first half of 2022, against the backdrop of a complex external environment, Fosun demonstrated resilience in sustainability, and the Group recorded steady revenue growth.
In fact, total revenue reached RMB82.89 billion, representing an increase of 17.7% over the same period in 2021, net profit attributable to owners of the parent was RMB2.70 billion, and business operating profit was RMB2.33 billion, representing an increase of 35.5% year-on-year.
?Fosun International announces 2022 Interim Results: Total Revenue amounted to RMB 82.89 billion, representing a year-on-year increase of 17.7%. #Technology and #Innovation, and #Globalization continue to develop. #results #business #increase #fosunfamilyhttps://t.co/ikK6j2WDoZ pic.twitter.com/CZTVtfzMkm
— Fosun (@Fosun_Intl) August 30, 2022
“In the face of the volatile epidemic situation and many external uncertainties in the first half of the year, Fosun maintained its strategic direction, insisted on doing the right things, the difficult things and the things that take time to develop, continued to develop in technology and innovation and globalization, demonstrated full resilience in its interim results, accumulating momentum for future development.” said Guo Guangchang, chairman of Fosun International.
Focus on luxury and tourism
In the face of serious challenges brought about by the pandemic and global market fluctuations, in the first half of 2022, Fosun leveraged its advantages in diversification and globalization and adhered to the dual-engine strategy of “Profound Industry Operations + Industrial Investment” to effectively overcome the risks.
In the first half of 2022, the Group successfully consolidated its positioning as a global consumer group, and continued to refine and improve the four core competencies: innovation, globalization, FC2M ecosystem and FES system, to ensure the Group’s sustainable development.
The Group’s overseas business experienced a strong recovery, with Club Med’s business volume in the first half of the year reaching RMB 5.74 billion, an increase of 336% year-on-year. The capacity of Club Med’s resorts in the EMEA region and the Americas increased by 411.4% and 90.6% respectively, compared to the same period in 2021.
Lanvin Group has been proposed for listing on the New York Stock Exchange through a business combination with Primavera Capital Acquisition Corporation to form a global luxury fashion group.
At present, the Fosun Cosmetic Innovation Center and the Yuyuan Jewelry Creative House designer platform have been put into operation and launched the first independently developed and incubated skin care brand, YOGAN.
Read also > Fosun Fashion Group becomes Lanvin Group
Featured photo : © DR
