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- Guo Guangchang and Management Team had In-depth Exchange with Investors and Media on Fosun International 2021 Interim Results
Guo Guangchang and Management Team had In-depth Exchange with Investors and Media on Fosun International 2021 Interim Results
On 25 August 2021, Fosun International held the 2021 Interim Results Announcement event at the Bund Financial Center (BFC) in Shanghai at 9:30 am. Some of the investors and media attended the event, and nearly one million viewers watched the presentation online. Guo Guangchang, Chairman of Fosun International, Wang Qunbin, Co-Chairman of Fosun International, Chen Qiyu and Xu Xiaoliang, Co-CEOs of Fosun International, and Gong Ping, Executive Director, Executive President and CFO of Fosun International attended the presentation and had in-depth communication with investors and the media.
Approval Process of the COVID-19 mRNA Vaccine: “Proceeding Normally in Accordance with Procedures”
The approval process of Fosun’s COVID-19 mRNA vaccine in Mainland China was a topic that concerned investors. Guo Guangchang, Chairman of Fosun International, said that the clinical trials and approval of the COVID-19 mRNA vaccine (COMIRNATY®, also known as BNT162b2) in Mainland China have been receiving strong support and attention from multiple departments including the Joint Prevention and Control Mechanism of the State Council, National Medical Products Administration, the CPC Shanghai Municipal Committee and Shanghai government. Related matters are currently proceeding normally in accordance with procedures. I would like to express my heartfelt thanks to all departments again!
Fosun’s original aspiration for the development of the COVID-19 mRNA vaccine was based on national interests to provide the country with an additional option on COVID-19 vaccine. We hope that this vaccine can be launched in Mainland China as soon as possible to contribute to the domestic pandemic prevention and control.
Fosun will Press Ahead with the Globalization Strategy
Looking back at Fosun’s nearly 30 years of journey, Guo Guangchang said that Fosun “played a big game” and stepped on some pits, but it has built up and gained more experience. At present, Fosun has basically completed the layout of globalization. After years of industry operations, many industries have begun to enter a harvest period, and some new industries have entered a period of rapid development. “Fosun’s years of experience in global industry has resulted in the rapid growth this year. Fosun will press ahead with the globalization strategy in the future.”
"There are only a few companies that are truly rooted in China and are able to integrate resources globally." Guo Guangchang said that in response to the anti-globalization voices, Fosun will give full play to its globalization capabilities centered around the industrial layout of health, happiness, wealth, and intelligent manufacturing, forming Fosun’s FC2M capabilities, making more contributions to the country and society, and creating more value for its customers.
Globalization is Fosun's core competence to persist in development. Chen Qiyu, Co-CEO of Fosun International, said that since 2008, Fosun has pressed on with the globalization strategy in aspects of investment and operations and Fosun operates industries worldwide currently. On the one hand, it has developed overseas business network and brought high-quality global leading brands and products back to the Chinese market to serve domestic consumers; on the other hand, it has facilitated domestic businesses to go global. In the past ten years, Fosun implemented the two-way strategy of "going global" and "bringing in" in the fields of pharmaceuticals, tourism, fashion, sports, and intelligent manufacturing focusing on Health, Happiness, Wealth, and Intelligent Manufacturing, developed many new companies from scratch, and fostered a number of new industries with high-growth potential.
Firstly Introduced the Concept of “FES”
During the interim results presentation, Fosun firstly introduced the concept of “Fosun Entrepreneurship/Ecosystem System” (FES). Wang Qunbin, Co-Chairman of Fosun International, said that Fosun has deepened “Industry Operations + Industrial Investment” during the 30 years of development, which has resulted in FES. As Fosun’s internal management tool, FES empowers the development of Fosun’s industries and teams, enhancing corporate development capabilities with the lessons learnt from global companies.
Wang Qunbin said that the Group will continue to adhere to the model of “Industry Operations + Industrial Investment” with FES in the future. During the implementation process, Fosun has to manage well in terms of five dimensions: the first is talent and organization, the second is the value growth of the Company, the third is synergy within Fosun’s ecosystem, the four is lean operations with daily evolution, and the fifth is the strengthening of risk control management. Through the participation of all employees in "co-entrepreneurship" centered on Fosun's mission, vision and values, Fosun will strengthen the synergy within its ecosystem, realize "high multiplier growth" in the Company's businesses, and create value for its customers, employees, investors and the society.
Bore Fruit in the Strategy of “C-end as Top Priority”
Regarding the “C-end Top Priority” strategy implemented by Fosun since last year, Chen Qiyu, Co-CEO of Fosun International, believes that Fosun has always been strong in the M-end (makers), such as the acquisition of products and services, and its businesses. With the rising influence of the Internet, Fosun fell short on the marketing and digitization of the Internet and the acquisition of customers. Therefore, Fosun implemented the “C-end Top Priority” strategy in recent years. After two years’ effort, Fosun has achieved good results in integrated marketing, digital marketing, and product internal business development (BD), the cumulative number of registered members reached 376 million and acquired 200,000 high net worth customers in the ecosystem, and customer satisfaction rate continued to increase to 75%.
Chen Qiyu said that Fosun leverages the industries’ multiplier effect, that is, continuously researches and develops innovative products, to establish a marketing system, couple with global multiplier growth to foster multiplier growth in the ecosystem, giving rise to the enormous value of Fosun’s business and enhancing the corporate value of Fosun. At the same time, Fosun will also realize high multiplier growth through organizational development and organizational fission, a multi-level global partnership mechanism, incentive mechanism and key talent training, so as to establish Fosun's long lasting corporate competitiveness.
Fosun for Good, Practiced Shared Prosperity
On the topic of shared prosperity, Wang Qunbin said that "Self-improvement, Teamwork, Excellence, and Contribution to Society" are the core entrepreneurial values of Fosun. Fosun also aims to achieve shared prosperity. Our original aspiration is to create value for society and make more contributions. Specifically, on the one hand, we will continue to focus on deepening the development of the family consumption industry and promote shared prosperity in the society through high-quality development; on the other hand, we will leverage Fosun’s industrial advantages and invest its industrial resources in areas such as Health, to coordinate regional development, rural revitalization, and poverty relief work. Now that our country has been completely lifted out of poverty, this year marks the first year of rural revitalization. Through the Rural Doctors program, we help rural doctors to better perform their duties, mitigate the problem of villagers returning to poverty due to illness, assist in rural revitalization and promote rural prosperity. In addition, we will also help the underprivileged through education, culture, employment and other public welfare programs and contribute to narrow the income gap between regions, urban and rural areas, and residents, endeavoring to achieve shared prosperity in the society.