0

Health Happiness Wealth

A Technology-Driven Consumer Group

Financial Results for First Half of 2019

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Disclaimer

It is not the intention of this document to provide a full explanation of any relevant matters of Fosun International Limited (“Fosun International” or

the “Company”). You must refrain from relying on any information set out in this document. No statement, guarantee or undertaking is or will be

made or given at present or in the future in respect of the accuracy, fairness, reasonableness, correctness or completeness of this document or

any information or opinions set forth herein or any other information or opinions, whether written or oral, available to any stakeholder or its advisers,

nor is there or will there be any express or implied indication made in respect of the above content at present or in the future. None of the

Company or any of its shareholders, directors, officers, employees, affiliates, advisers or representatives (the “Parties”) shall assume any liability,

including but not limited to liability for default, for or in respect of the above content at present or in the future. The Parties expressly state that they

shall not be held liable for any loss resulting from the use of this document or its content or in any other manner in connection with this document.

It is assumed that information set out in this document is appropriate for the current situation and such information could be subject to change

without notice. None of the Parties shall be held liable for procuring the receipt of information under this document by any recipients, updating

information under this document, or correcting any manifest error contained under this document. In the event of any conflict between this

document and the interim results announcement of the Company for the half year, and the interim report of the Company for the half year

ended 30 June 2019 (collectively, the “Interim Documents”), the interim Documents shall prevail.

Cautionary Statement Regarding Forward-Looking Statements

This PPT includes forward-looking statements. All statements, other than statements of historical facts, that address activities, events or

developments that Fosun International Limited (“Fosun International” or the “Company”) expects or anticipates will or may occur in the future

(including but not limited to projections, targets, estimates and business plans) are forward-looking statements. The Company’s actual results or

developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, and

other risks and factors beyond our control. In addition, the Company makes the forward-looking statements referred to herein as of today and

undertakes no obligation to update these statements. The financial figures of 20191H in this PPT are calculated using the average exchange rate

for the reporting period January 2019 to June 2019 (USD/CNY=6.77143 HKD/CNY=0.86355). Period-end exchange rate as of 2019/6/30

(USD/CNY=6.87470 HKD/CNY=0.87966), unless otherwise stated.

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Result Highlights

Business Review

Financial Review

Outlook

Appendix

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Note: 1. After adjusted by the impact of Yuyuan's revenue consolidated into the financal statements of the Group upon completion of the reorganization in the second half of 2018, and the major acquisitions of La Positiva, Baihe Jiayuan and Wolford, etc, the revenue in the first half of 2019 increased by 25% compared to the same period of 2018.; 2. Industrial operating profit includes profit from operational subsidiaries, joint ventures and associates which are under equity method; 3. Total debt includes short-term and long-term interest-bearing borrowings and other borrowings; Total capital equals to equity plus total debt.

Financial Highlights for 2019 1H

53.2%Total Debt/ Total Capital3

Average cost of debt in 20191H is 5.05%

0.13 Fosun International’s first ever interim dividend

HKD

13.6% Average Fosun ROE (2014-2019H) 13.4%

Average HK market ROE (2014 – 2018) 9.7%

68.5 billion

Total Revenue

RMB

Top 5 subsidiaries contributed 83% in 20191H

57% from China, 43% from overseas

7.61billion

RMB

Happiness Y-o-Y growth: 86%

5 year CAGR of 19%

6.12 billion

RMB

RMB4.03 billion in 20181H

157% Y-o-Y 11% Y-o-Y 52% Y-o-Y

2018: 12.8%, 2017: 13.6%Per share

Profit Attributable to Owners of the Parent Industrial Operating Profit2

Leverage RatioInterim Dividend Return on Equity (ROE)

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Appendix

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2130

5055

73

96

37

56

30

32

29 19

15

13

7

13

2013 2014 2015 2016 2017 2018 20181H 20191H

2C 2B

RMB Bn

52%2C Y-o-Y revenue growth

in 20191H

Historic Revenue Growth

16%Total Revenue 5 year CAGR

36%2C Revenue 5 year CAGR

2

Note: 1. 2C includes revenue of products and services sold to families and individuals. 2. 2B includes revenue of products and services sold to businesses

1

51

62

7974

88

109

69

44

81.5%2C revenue out of total

revenue in 20191H

Over 80% of revenue now comes direct from family customers

6

Health Business

Financial highlights Operating highlights

66%

23%

11%Pharmaceutical

Medical and

Health Services

Medical

Equipment and

Diagnosis

Revenue(RMB: Bn)

14.0

16.5

20181H 20191H

Pharmaceutical：

• Fosun Pharma – Pharmaceutical business revenue increased 21.89% to RMB 10.8 Bn in 2019 1H

• Gland Pharma’s revenue increased 18.9% to RMB 1.2 Bn in 2019 1H

• ‘Hanlikan ®’, China’s first domestically developed biosimilar receives approval for sale in China

• ORIN1001, a small molecule treatment for breast cancer, gets US FDA approval fast track

• Fosun Pharma’s proprietary innovative drug Artesunate series are well recognized in Africa. International

distribution network further expanded through Tridem’s presence in FSA (French Speaking Africa) and

private market(hospital, clinics and pharmacies)

• Signed exclusive license agreement with ReNeuron for the development, manufacture and

commercialization of its CTX and hPRC cell therapy programmes in China

Medical Equipment and Diagnosis:

• Sisram Medical, the Israeli-based medical equipment supplier reports USD$85 million sales in 20191H with

9.3% Y-o-Y growth. Net profit margin grew to16.2% in 20191H

• Aitrox, Fosun’s AI-focused medical company, reached cooperation with >200 medical institutions in China

Medical and Health Services:

• Fosun United Health Insurance premiums grew 607% in 20191H, following operating synergies with Fosun’s

health business

• Starcastle Senior Living- Zhonghuan Community’s occupancy rate now at 92%, offering one-stop health

services, from independent living to hospice care Note: 1. Medical and Health Services include hospital service, health insurance, pharmaceutical distribution, and elderly care.

1

7

Happiness Business

13.5

30.9

20181H 20191H

• Highlights of successful products:

– Yuyuan’s Jewelry business: revenue increased 15.9%, with

327 new stores now totaling 2,417 across China

– Yuyuan’s Food & beverage business: New soft-drinks brand

(LigaoLu) sold 1 million units in its first two months; First

Yuyuan Songhe Noodle Restaurant (size of 300㎡)

generated revenue of over RMB1.5 million per month solely

– Tourism destination: Atlantis Sanya’s recorded operating

revenue in 20191H of RMB656 million, with a 51.8% increase

in ADR1, from RMB1,562 to RMB2,371

– English Premier League football team Wolverhampton

Wanderers turned profitable in 20191H, placing seventh in

the 2018-2019 season

• Products under turnaround:

– Bruno Sialelli, new chief designer at Lanvin launches a

popular new line in Paris in February 2019

71%

29% Branded

Consumer

Goods

Tourism and

Culture

Note: 1. ADR is average daily bed rate； 2. Branded Consumer Goods include fashion, jewelry, catering and sports

2

Financial highlights Operating highlights

Revenue(RMB: Bn)

8

Wealth Business

16.321.5

20181H 20191H

Note: 1. Source: Superintendencia de Banca, Seguros y AFP del Perú (SBS)；La Positiva Seguros y Reaseguros S.A. is referred to as La Positiva hereinafter; 2. Referred to as FFT hereinafter

• Household Finance：

– “Insurance + industry” strategy: digital transformation of Group’s

insurance business with enhanced integration into Fosun’s other

businesses

– Internationalization: Acquired La Positiva Seguros y Reaseguros

S.A., Peru’s fourth-largest insurance company1

– Digital transformation of Portuguese bank BCP: Profit Attributable

to Owners of the Parent increases by 12.7%

• Corporate finance

– Digital transformation of private Bank Hauck & Aufhauser,

profitability ranked #1 among German peers

• Investment：

– Lexin Tech, a global leader of IoT core communication chips

(688018), completed a successful IPO on China’s new SSE STAR

Market

– Acquired FFT GmbH & Co. KGaA2, the world's leading provider of

flexible automated production line solutions

55%22%

23% Household

Finance

Corporate

Finance

Investment

Financial highlights Operating highlights

Revenue(RMB: Bn)

9

C2MTotal registered users1

>340 million

Active consumers increased 40% Y-o-Y to 20191H

Fosun’s Family consumers continue to grow

Note: 1. Representing products and services provided by Fosun

Customer-2-maker strategy connects products and services direct to customers

10

Number of products with Revenue over RMB 1 billion

Number of products with Revenue over RMB 100 million

Number of brands with Revenue over RMB 10 billion2

100+

2

10+

Note: 1.LTM to June 2019; 2. Club Med and Yuyuan’s Lao Miao Jewelry brands have revenue over RMB 10 billion in the past 12 months

Major products and brandsIncreasing number of products & brands with strong revenue performance1

11

New emerging product synergies

Family

consumers

Hospital+Insurance

Marriage+Jewelry

Foliday+Parenting

Fosun Care+Insurance

Pharmaceutical

+Insurance

Foliday+AHAVA

Genetic Testing

+Insurance

Marriage+ Foliday…

12

Investments to enhance product offering

Health Happiness Wealth

• Signed exclusive license

agreement with ReNeuron

for the development,

manufacture and

commercialization of its CTX

and hPRC cell therapy

programmes in China

• Acquired Medata, a

blockchain-based medical

big data platform

• Acquired the world's

renowned gemological

colleges and certification

institute, IGI; Strengthening

the jewelry business of

Yuyuan

• Became the exclusive

Chinese distributor of Hills, the

world’s top pet prescription

food brand

• Acquired La Positiva, Peru’s

fourth-largest insurance

company and expanded

insurance business into Latin

America

• Acquired FFT, the world's

leading provider of flexible

automated production line

solutions

. . .. . .. . .

13

30%Profit before tax

~

Competitive products through R&D

Bio-medicine

Fin-tech

……

Competitive products through incubation, investment & BD

Biosimilar

AI medical technology

Cell therapy technology

……

AI-driven Mid-office

AI

Big Data

IoTs

SaaS

……

Technology & Innovation + Creative Design

Competitive products through good design

Jewelry

Fashion apparel

Creative fashion

……

Investment into Technology & innovation ~30% of total PBT

14

JapanTokyoOsakaHokkaido

United KingdomLondonWolverhampton

GermanyBerlinMunich

FrankfurtHamburg

PortugalLisbonPorto

IndiaNew DelhiMumbaiBangalore

Hyderabad

United StatesNew YorkDetroitSan Francisco

AustraliaSydney

FranceParisLille

Brest

IsraelJerusalemTel Aviv

ChinaShanghaiBeijing

ShenzhenHangzhouNanjingChongqingWuhanGuangzhouXianHong KongMacau…

AustriaViennaSalzburgInnsbruckBregenz

Global operations1

BrazilSao PauloRio de Janeiro

57%27%

11%5%

China EMEA The Americas Other overseas countries

Revenue breakdown by region in 20191H

Note: 1. Countries where Fosun and its subsidiaries have offices or teams; 2. EMEA includes Europe, Middle East and Africa; 3. The Americas includes North and South America.

PeruLimaCusco

Cote d'Ivoire

Nigeria

Angola

Mozambique

ItalyMilan

2 3

15

Employee interfaces

Data

Business

Technology

Functional supports

E-commerce

Fosun Business System(FBS)

Fosun Business System

Fosun Business System (FBS)

Create for our customers,

employees, products a digitalized

and intelligent platform

Collect customer real time feedback

on products and services

Empower employees to serve

customers efficiently

Employees

Customers

Health

Products

Happiness

Products

Wealth

Products

Store

Sales

representatives

Community

16

Global talents through Global Partners

Global partners drive success of products with strong functional capabilities

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Financial Review

Outlook

Appendix

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Revenue breakdown by core businesses

Health Happiness Wealth

RMB: Bn

14.0 13.516.316.5

30.9

21.5

健康产业 快乐产业 富足产业20181H 20191H 20181H 20191H 20181H 20191H

66%23%

11%Pharmaceutical

Medical and

Health Services

Medical

Equipment and

Diagnosis

55%22%

23% Household

Finance

Corporate

Finance

Investment

71%

29% Branded

Consumer

Goods

Tourism and

Culture

19

14.6

19.7

20181H 20191H

6.79.1

20181H 20191H

11.814.1

20181H 20191H

21%

29%

13%

14%

6%

17%

Fosun Pharma

Yuyuan

FTG

Fosun Insurance Portugal

Peak Reinsurance

Others

Note: 1. Yuyuan’s revenue is based on the Chinese Accounting Standards for Business Enterprises. 2. Portugal insurance revenue is based on local general accounting standards applicable to its regulatory territory

Fosun Pharma Yuyuan1

Peak ReinsuranceFosun Insurance Portugal2FTG

Average Y-o-Y revenue growth of top 5 subsidiaries is 32%

RMB Bn RMB Bn

RMB Bn RMB Bn

20191H Revenue Breakdown

Top 5 subsidiaries contribute 83% of revenue

6.6

9.9

20181H 20191H

RMB Bn

3.33.9

20181H 20191H

Fosun Tourism Group

20

Health Happiness Wealth

Finance InvestmentRMB Mn

Profits breakdown by core businesses

Insurance

829865

20181H 20191H

982

1822

20181H 20191H

10791016

20181H 20191H

659

805

20181H 20191H

3311

3101

20181H 20191H

21

55.9%

53.6%

50.7%

52.4%

53.7% 53.2%

48%

49%

50%

51%

52%

53%

54%

55%

56%

57%

2014 2015 2016 2017 2018 20191H

Note: 1. Leverage ratio = total debt/ total capital; Total debt includes short-term and long-term interest-bearing borrowings and other borrowings; Total capital equals to equity plus total debt

56%31%

9%4%

RMB

USD

EUR

Others

RMB Bn 2017 2018 20191H

Total Debt 150.5 186.1 193.2

Net Debt 67.8 79.8 89.4

Undrawn Facilities 161.7 173.6 174.4

Healthy Balance SheetStable leverage ratio & improved debt structure

Debt Maturity Extended

Debt Breakdown by Currency Other financial Ratios

Leverage Ratio1（%）

48.6%

34.6%

2014 2015 2016 2017 2018 20191H

51.4%

65.4%

2014 2015 2016 2017 2018 20191H

Within 1 year Above 1 year

- Net Debt/EBITDA-multiples 2.3x in 20191H

- Average cost of debt 5.05% in 20191H

22

Moody’s

BBnegative

BB positive

BBstable

BBstable

S&P

Rating Improvement & HSCEI InclusionS&P revised outlook to positive and confirmed BB rating

Ba3 stable

Ba3 positive

Ba2stable

Ba2stable

“As of June 28, 2019, Fosun International was selected as

constituent stock of Hang Seng China Enterprises Index

(HSCEI) since its overall performance fulfilled the criteria,

including listing history, stock price volatility in the past 12

months, turnover velocity, net profit of the past three

years, net cash flow from operating activities and

dividends.”

Hang Seng Indexes Company Limited

August 2019

Fosun International included as constituent

stock of Hang Seng China Enterprises Index

HSCEI Inclusion

23

0

2

4

6

8

10

12

14

16

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

0

2

4

6

8

10

12

14

16

Earnings Per Share

Historical Profit, EPS and Book Value GrowthDouble digit growth in profit, EPS and book value over the past 5 years

RMB Bn RMB RMB

Book Value Per ShareProfit Attributable to Owners of the Parent

24

ROE Ratio (Fosun vs. Hong Kong Market1) (%)

• From 2014 to 20191H, average ROE of Fosun

International is 13.4%

Dividend Payout Ratio (%)

13.2 12.9

15.1

19.8 20.0

0

5

10

15

20

25

2014 2015 2016 2017 2018

15.4

12.8

12.2

13.6

12.8 13.6

11.6

9.1 8.5

10.2

9.4

6

7

8

9

10

11

12

13

14

15

16

2014 2015 2016 2017 2018 20191H

Fosun HK stock market average

Shareholders’ ReturnAbove market ROE performance with emphasis on dividend payout

Note:1. ROE of 20191H is calculated using annualized return. HK Market average ROE source is Wind

• For the first time, the Board of Directors have declared an

interim dividend of HKD 0.13 per share

• Dividend Payout ratio grows steadily since 2014 and

reached 20% in 2018, indicating a dividend yield rate of

3.6% by end June, 2019

• From 2016 to 20191H, total dividend paid was HKD 9.08

billion

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Financial Review

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Tech-driven product innovation through vertical integration

Horizontal cross-business innovation for product competitiveness

• Drive product innovation through technology

• Dedicated to creating the most epic customer experience

• Enhance competitiveness through global resources and talents

• Focus on satisfying the needs and pain points of family customers

• Create innovative products by integrating Fosun’s industrial value

chains

• Improve product and service qualities to deliver better customer

experience

With each step, we’ll continue to provide the best products

Household

Consumption

Health

Happiness Wealth

What’s the future for Fosun？

A myriad of product lines and

competitive products

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Financial Review

Outlook

Appendix

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Sinopharm

Health

Pharmaceutical Medical Services

& HealthManagement

HealthProducts

Happiness

Tourism &

LeisureFashion

Wealth

WeDoctor

Luz Saúde3

99.85%

StarcastleSenior Living

100%

SanyuanFoods5

20.45%

Silver Cross 87.23%

St Hubert6

98.12%

FTG7

81.07%

Caruso9

73.78%

Wolford58.45%

LANVIN65.60%

Fosun Insurance Portugal13

84.9884%

AmeriTrust100%

PramericaFosun Life Insurance

50%

Investment

Cainiao6.71%

IDERA98%

MyBank25%

BCP 27.25%

H&A99.91%

Fosun Hani Securities

100%

35.35%

Gland Pharma

Sisram Med

Insurance

98.81%

Nanjing

Nangang

60%

Fosun Capital

100%

Fosun Pharma

37.87%

Fosun United Health

Insurance20%

Yong’an P&C Insurance

40.68%

8

St John10

70%

Hainan Mining

51.57%

FFT15

Consumer &

Lifestyle

Yuyuan68.58%

TsingtaoBrewery11

17.97%

AHAVA12

100%

Chancheng

Hospital

Besino

Environment

BaiheJiayuan

69.18%

Babytree4

21.76%

Tom Tailor8

BundFinance Center

50%

Finance

28 Liberty

100%

1. This simplified corporate structure illustrates the key investments of the

Group only. The equity percentage reflects the total direct

shareholdings held by the Group, associates, joint ventures and funds

managed by the Group as at 30 June 2019.

2. The companies marked in the dotted-line borders are invested by

Fosun Pharma. For specific information, please refer to the disclosure

of Fosun Pharma. The companies marked in the shaded boxes are

invested by FTG. For specific information, please refer to the

disclosure of FTG. The companies marked in the double-line borders

are invested by the joint venture of the Company, Nanjing Nangang.

3. The Company and Fidelidade held 49% and 50.85% equity interest in

Luz Saúde, respectively. Therefore, the Group held 92.22% effective

equity interest in Luz Saúde.

4. The Company, together with its wholly-owned subsidiary, held 21.62%

equity interest in Babytree. In addition, Fidelidade held 0.13% equity

interest in Babytree. Therefore, the Group held 21.73% effective

equity interest in Babytree.

5. The Company through its wholly-owned subsidiary and a fund under

management of the Group, held 16.67% and 3.78% equity interest,

respectively, in Sanyuan Foods. The Group held 37.25% effective

equity interest in such fund, thus, the Group held 18.08% effective

equity interest in Sanyuan Foods.

6. St Hubert was held as to 98.12% by an associate of the Group in

which the Group held 51% equity interest.

7. The Company’s equity interest in FTG was diluted to 80.97% as at the

date of this announcement due to the issue and allotment of new

ordinary shares by FTG in July 2019.

8. As of the settlement date of the takeover offer (12 July 2019), Tom

Tailor was held as to 46.75% by the Company and 29.99% by a wholly

owned subsidiary of Yuyuan. Therefore, the Group held 67.32%

effective equity interest in Tom Tailor

9. The Company through its wholly-owned subsidiaries held 43.40%

equity interest in Caruso. The joint venture established by the Group

and a fund managed by the Group held 30.38% equity interest in

Caruso (the Group held 17.00% equity interest in the joint venture).

Therefore, the Group held 43.40% effective equity interest in Caruso.

10.The joint venture established by the Group and a fund managed by

the Group held 70% equity interest in St. John Knit International Inc.

(the Group held 19.70% equity interest in the joint venture).

11.As at the end of the Reporting Period, Tsingtao Brewery was held as

to 11.66% by two wholly-owned subsidiaries of the Company, as to

2.55% and 0.53% by Fidelidade and Peak Reinsurance, both are

subsidiaries of the Company, respectively, and as to 3.22% by a fund

managed by the Group. Therefore the Group held 14.29% effective

equity interest in Tsingtao Brewery. As at the date of this

announcement, Tsingtao Brewery was held as to 11.66% by two

wholly-owned subsidiaries of the Company, as to 1.69% and 0.25% by

Fidelidade and Peak Reinsurance, both are subsidiaries of the

Company, respectively, and as to 2.14% by a fund managed by the

Group. Therefore the Group held 13.32% effective equity interest in

Tsingtao Brewery.

12.The Company through its subsidiary held 100% equity interest in

AHAVA. Such subsidiary was owned as to 94.21% effective interest by

the Group. Therefore, the Group held 94.21% effective equity interest

in AHAVA.

13.The Company held 84.9884% equity interest in Fidelidade, 80% equity

interest in Multicare and 80% equity interest in Fidelidade Assistência

through its wholly-owned subsidiary.

14.The equity interest held by the Group was decreased from 86.9%

through 86.5% as a result of the issue and allotment of shares of Peak

Reinsurance pursuant to terms of a share award plan adopted in

December 2018.

15.FFT was 100% held by an associate of the Group which was invested

through the funds managed by the Group.

Note:

Atlantis

Sanya

Club Med

Wolves100%

Guide69.14%

PeakReinsurance14

86.51%

Corporate Structure1 2（as of 30 June 2019）

29

Health

China’s top 5

pharmaceutical

companies

Happiness Wealth

China’s largest pharmaceutical group with the most complete

industrial chain and most competitive capabilities

The largest medical services

group in Portugal

Ranked No. 1 of China's

non-public hospitals for 3

consecutive years

Professional health

insurance provider with

rapid growth in China

China's largest platform of

the maternal and child

community

The largest resort chain

worldwide

Leading brewer brand in

China

The oldest haute couture

brand in France

Wolverhampton WanderersRanked seventh in the Premier

League in the 2018-2019 season

China's largest dating

and matchmaking

website and marriage

service provider

Landmark project of

Sanya Tourism 3.0

Leading branded

consumer goods

company

Portugal’s largest

insurance group

Portugal’s largest listed

bank, Poland’s fourth

private bank

Highest ROE within

German mid-cap private

bank in 2018

Japan's leading asset

management platform

Winning "Asia's Best

Reinsurance Company"

Award for the fourth year

Israel's leading fintech platform

Top 3 of Global Car

Network Data Service

Innovative supplier

First domestically developed &

commercialized biosimilar

Market leaders across businesses

30

投资及退出：- 集团层面，2019年上半年累计投资

项目47个，累计金额44亿，退出项目22个，累计金额31亿人民币

- 集团及子公司投资项目上市共计4个，包括华培动力、永冠新材、乐鑫科技、科博达。

- Acquired FFT in Germany, the world's

leading provider of flexible

automated production line solutions

- Invested in UK boutique asset

manager Tenax Capital Limited2

- Takeover of Tom Tailor to enhance

fashion business

- Acquired the world's renowned

gemological colleges and

certification institute, IGI

TENAX CAPITAL

- The Group and its subsidiaries

completed 47 investments and 22

divestments in 20191H

- Successful IPO of Sinotec,

Yongguan and Espressif

Investments and divestments

- Acquired La Positiva, an insurance

company in Peru through Fosun

Insurance Portugal

- Lets Transport, Indian city logistics

service provider

- Delhivery, Indian Logistic Unicorn

- Headfone, Indian social audio

platform

- Splitty, Israeli hotel reservation

platform

- theAsianparent, large maternal and

childcare platform in Southeast Asia

Investments in emerging markets1 Investments in developed markets

Note: 1. Emerging markets include South America, India, Africa and Southeast Asia; 2. Project not yet transacted

Capital Market Highlights

31

Note: 1. Include only secondary market investments held by the Group. 2. Percentage of effective equity interest. 3. Subsidiary of the Group. 4. Fosun High Technology Co., Ltd. holds 60% equity interest in Nanjing Nangang, which holds 43.29% equity interest in Nanjing Iron & Steel with its subsidiaries

No. Stock NameUntil 30 June 2019

% Held2 Holding Market Value (RMB Bn)Market Value

(USD Bn)

1 Fosun Pharma (A+H)3 37.87% 24.41 3.55

2 Yuyuan3 68.58% 21.80 3.17

3 Fosun Tourism Group3 81.07% 9.76 1.42

4 BCP Millennium 27.25% 8.75 1.27

5 Hainan Mining3 51.57% 5.93 0.86

6 Tsingtao Brewery 11.34% 6.71 0.98

7 Nanjing Iron & Steel4 25.97% 4.02 0.59

8 Ageas 4.34% 3.07 0.45

9 New China Life 2.74% 2.85 0.42

10 Baihe Jiayuan3 69.18% 2.78 0.41

11 Jinjia 8.96% 1.63 0.24

12 SanYuan Foods 18.08% 1.64 0.24

13 Zhongshan Public Utilities 12.35% 1.56 0.23

14 Babytree Group 21.62% 1.31 0.19

15 VIEWRAY INC 16.99% 1.00 0.15

16 Grandland Group 11.68% 0.87 0.13

17 Juewei Food 3.81% 0.85 0.12

18 Zhaojin Mining 3.29% 0.82 0.12

19 Amneal Pharmaceuticals 5.50% 0.81 0.12

20 Hecom (Beijing) Technology Co. 16.35% 0.76 0.11

Total 101.33 14.77

Top 20 Secondary Holdings1

32

MSCI Rating

for the past five yearsWe are here in 2019

Fosun Internationals set up the ESG Committee in March 2019. The committee is responsible for assisting the Board in directing and supervising

the Group's development and implementation of its work on environment, society and governance.

We adhere to the principle of sustainable development. From 2014 to 2018, Fosun has actively promoted the sustainable development of

portfolio companies and taken significant efforts in environmental protection, climate change, health and safety. This has resulted in

significant upgrades from MSCI:

• Health & Safety - Score increased from 2.4 to 5.6；

• Environmental Protection - Score increased from 0.1 to 3.3；

• Cleaning Technology- Score increased from 2.3 to 3.3；

• Rating – increased from CCC to BBB；

• BBB – an industrial average level, which is defined by most investors as “investable” level BBB.

BBB is defined by MSCI as: Industrial Average

Leading Average Backward

MSCI rating has continued to improve over past five years

ESG Rating

33

Attributable

insurance

asset classes

Proportion

2019/06/30 2018/12/31

Fix income

investment70.7% 73.6%

Equity

investment7.5% 8.7%

Real estate

investment10.0% 8.2%

Cash & cash

equivalents11.8% 9.5%

Insurance asset Allocation

Unit:

RMB Bn

Investable Asset1

2019/06/30 2018/12/31

Fosun Insurance

Portugal135.9 123.3

AmeriTrust 11.4 10.8

Peak

Reinsurance12.7 11.7

Pramerica Fosun 9.3 5.1

Yong’an P&C

Insurance11.3 11.2

Fosun United

Health

Insurance

0.9 0.5

Equity Total2 147.4 133.0

Combined Ratio Total Investment Return

2019 1H 2018 1H 2019 1H 2018 1H

Fosun Insurance Portugal 96.9% 97.7% 1.3% 2.8%

AmeriTrust 102.5% 100.6% 2.9% 2.2%

Peak Reinsurance 104.9% 99.5% 2.3% 1.5%

Pramerica Fosun n/a n/a 3.2% 3.6%

Yong’an P&C Insurance 103.1% 103.9% 2.7% 2.5%

Fosun United Health

Insurancen/a n/a 3.1% 2.5%

Equity Total2 n/a n/a 1.6% 2.7%

Insurance asset spreadInvestable Asset

Note:1. Investable asset refer to the insurance float used by insurance company (from insurance businesses’ funds precipitation), capital invested by shareholders, retained earnings etc., assets formed by various

domestic and overseas investment activities. It mainly includes fixed income investment, equity investment, real estate investment and cash and cash equivalents.2. Total of effective interest on equity held by Fosun

Insurance

Insurance Business Overview

Fosun Insurance Portugal• European composite

insurance company• Shareholding ratio:

84.9884%

AmeriTrust• American workers

compensation insurance company

• Shareholding ratio: 100%

Yong’an P&C Insurance• Chinese property insurance

company• Shareholding ratio: 40.68%

Peak Reinsurance• Hong Kong reinsurance

company• Shareholding ratio：

86.51%

Pramerica Fosun• Chinese life insurance

company• Shareholding ratio: 50%

Fosun United Health Insurance• Chinese health

insurance company• Shareholding ratio: 20%

34

•Pharmaceutical

•Medical Devices and

Diagnostic Products

R&D and

Manufacturing

•Sinopharm

•Medical Devices and

Diagnostic Products

Distribution

Distribution•General and Specialty

Hospitals in 2nd & 3rd tier cities

•Premium hospitals in 1sttier

&coastal cities

Healthcare Services

34

• Metabolism & Digestive System• Cardiovascular• Central Nervous System• Blood System• Oncology• Anti-infection• APIs

• Fosun Pharma owns 25.91% equity interest in Sinopharm

• Gene Diagnosis• Molecular Diagnosis• Medical Aesthetic Devices• Respiratory Systems

• Robotic System• Digital Dental Products• Medical Imaging• Intervention and

radiotherapy products

• General Hospitals: Foshan Chancheng, Shenzhen Hengsheng, Yueyang Guangji, Suqian Zhongwu, Wenzhou Geriatrics, Zhuhai Yannian, Wuhan Jihe

• Specialty Hostpial：Anhui JiminOncology Hospital

Synergies Through the Entire Business Value Chain

35

Fosun Tourism Group - FOLIDAY Ecosystem

Multiple “touch

points” to interact

with customers

Capture more

customers and

lead to higher

customer stickiness

Services and solutions

in various tourism and

leisure settings

One-stop tourism

and leisure lifestyle

experiences

Attract more

participants to expand

offerings and enhance

customer experiences

Resorts and

tourism destinations

Note: * Business partners or brands owned by business partners

*

36

Fosun Tourism Group - Operational Highlights

Total operation revenue of Atlantis Sanya for

1H2019 was RMB656 million, ADR surged from RMB1,562 to RMB2,371 in 1H2019, up by

51.8%.

The adjusted EBITDA of Atlantis Sanyaincreased to RMB282.4 million in the first half

of 2019

141 vacation units were delivered in 1H2019.

251 vacation units of Tang Residence

managed by Albion in 1H2019

Construction of Lijiang FOLIDAY Town （丽江复

游城）and Taicang FOLIDAY Town （太仓复游

城） are underway as planned.

2. Tourism destinations 3. Services and solutions

in various tourism and leisure settings

Resident Show C and miscellaneous

entertainment activities in Atlantis Sanya has launched in Feb 2019

Two Miniversity clubs were launched in

Shanghai in Mar 2019.

Business volumes of FOLIDAY Travel Distribution

Platform surged to RMB198.1 million, a 288.3%growth.

Foryou Club members reached 3.5 million, a

79.4% increase than that of 2018FY

Achieved Business Volume of RMB6.9 billion,

representing a Y-o-Y growth of 5.0%1

Average Daily Bed Rate increased from RMB1,311

in 1H2018 to RMB1,388 1H2019, representing a

growth of 5.9%1

Capacity of resorts in 1H2019 increased by 2.2%

on Y-o-Y base

Recurring operating profit increased to RMB614.1

million. Excluding the non-recurring operating

items and IFRS 16 impact, the recurring operating

profit was up 8.2% to RMB479.9 million

Recurring EBITDA increased to RMB1,393.6 million.

Excluding the adoption impact of IFRS 16,

Recurring EBITDA reached RMB769.1 million, up

by 5.5%.

1. Resorts

1On like-for-like basis.

37

Yuyuan Inc.Leading the revival of Chinese culture, and creating the world's first-class happy fashion industry group