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Fosun International: Total Revenue for 2023 Reached RMB198.2 billion, Industrial Operation Profit Increased by 20% YoY

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HONG KONG and SHANGHAI, April 2, 2024 /PRNewswire/ — Fosun International Limited (HKEX stock code: 00656, “Fosun International”), together with its subsidiaries (“Fosun” or the “Group”), today announced its annual results for the year ended 31 December 2023 (the “Reporting Period”).

During the Reporting Period, the Group achieved a total revenue of RMB198.2 billion, representing a year-on-year increase of 8.6%. Industrial operation profit reached RMB4.9 billion, representing a year-on-year increase of 20%. The profit attributable to owners of the parent was RMB1.38 billion. Total revenue of the four core subsidiaries, namely Yuyuan, Fosun Pharma, Fosun Insurance Portugal and Fosun Tourism Group (FTG), was RMB142.69 billion, representing a year-on-year increase of 8%, contributing 72% of the revenue.

As at the end of the Reporting Period, the consolidated interest-bearing debt decreased by RMB15 billion, interest-bearing debt at the group level decreased by RMB9.2 billion compared with the end of 2022, the total debt-to-asset ratio at the consolidated statements of the Group stood at 50.4%, representing a decrease of 2.9 percentage points from 31 December 2022.

Guo Guangchang, Chairman of Fosun International, stated, “After more than a decade of efforts, Fosun has gradually completed its global expansion and industrial business presence, anchoring itself in the household consumption sector, Fosun’s industry operations strategy has also evolved from ‘prospecting’ and ‘exploration’ across various industries and locations worldwide to ‘deep mining’ (which means focusing on the development of our core industries) and ‘developing good mines’ (which means tapping into industries with high value-added development and growth potential). We will continue to focus on core businesses, leveraging our unique strengths to enhance our capabilities and strengthen our foundation, and actively invest and expand in advantageous sectors, taking stable profit growth as the core objective.”

“Deep mining” to deepen global operations

In 2023, Fosun’s overseas revenue reached RMB89.2 billion, representing a year-on-year growth of 6% and accounting for 45% of the total revenue. HANQUYOU (trastuzumab injection), independently developed and produced by Shanghai Henlius, has been approved for marketing in more than 40 countries and regions worldwide. Shanghai Henlius’ first innovative drug HANSIZHUANG (serplulimab injection) was approved for marketing in Indonesia, becoming the first domestically-produced anti-PD-1 monoclonal antibody successfully approved for marketing in a Southeast Asian country.

Club Med had sales and marketing operations in more than 40 countries and regions across six continents, and operated 68 resorts (including 10 resorts in China). The Yuyuan Garden Lantern Festival successfully made its overseas debut in Paris, France, attracting nearly 200,000 local visitors.

Technology innovation to drive new growth

During the Reporting Period, the Group’s total investment in technology innovation amounted to RMB7.4 billion, representing a year-on-year increase of 14%.

HANSIZHUANG (serplulimab injection), the world’s first anti-PD-1 monoclonal antibody approved for first-line treatment of small cell lung cancer (SCLC) developed independently has been approved for four indications; the second-generation artesunate for injection (Argesun®) was prequalified by the World Health Organization (WHO-PQ), becoming the first injectable artesunate presented with a single solvent system approved by WHO-PQ. Since its launch more than two years ago, China’s first CAR-T cell therapy product, Yi Kai Da (ejilunsai injection), developed by Fosun Kite, has been used to treat more than 600 patients with relapsed or refractory large B-cell lymphoma (r/r DLBCL). Intuitive Fosun’s domestic Da Vinci Xi Surgical System was successfully approved by the National Medical Products Administration (NMPA), realizing “made in China, joint research & development, global sales”.

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Enhance asset-light operational capabilities

Fosun Pharma, together with seven investors including Shenzhen FoF planned to jointly establish a RMB5.0 billion biopharmaceutical fund, with the entire raised funds to be invested in fields of biopharmaceuticals, cells, and genes. Shanghai Rehabilitation Equity Investment Fund Management Co., Ltd., a subsidiary of Fosun Pharma, won the bid through the public selection process in Shenzhen to exclusively manage the biopharmaceutical fund.

FTG has leveraged its operational strengths. During the Reporting Period, the revenue structure was optimized, and 93% of the revenue came from its resort operations.

Business for Good, ESG efforts continues to enhance

As of the end of the Reporting Period, Fosun maintained an MSCI ESG rating of AA and was the only conglomerate in Greater China with such rating. Its HSI ESG rating was upgraded to AA- and it was selected as a constituent stock of the Hang Seng Corporate Sustainability Index for the first time. It also consistently improved its FTSE Russell ESG rating and was selected as a constituent stock of the FTSE4Good Index Series. In addition, Fosun was included in S&P Global’s Sustainability Yearbook 2024 and recognized as an Industry Mover.

View original content:https://www.prnewswire.co.uk/news-releases/fosun-international-total-revenue-for-2023-reached-rmb198-2-billion-industrial-operation-profit-increased-by-20-yoy-302105158.html

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J.F. Lehman & Company Announces Promotions and Team Additions

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NEW YORK, Jan. 15, 2025 /PRNewswire/ — J.F. Lehman & Company (“JFLCO”), a leading middle-market private investment firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors, is pleased to announce several promotions and team additions.

Promotions include Karina Perelmuter to Managing Director, Megan E. Kanefsky to Director, Bridget A. Harding to Vice President and Bailee D. Glass to Associate.  “Our latest promotions highlight the exceptional contributions by these individuals as well as our established track record cultivating career progression,” said Louis N. Mintz, Partner. “Their dedication and impact across our own organization and our portfolio companies illustrates our commitment to excellence and fostering sustained success.” 

The firm also recently welcomed several new investment professionals including Sandra Wong, Jack R. Chandler, Yosef W. Medhin, Jack R. Smith and Emily O. Strambi.  JFLCO’s functional capabilities were augmented with the addition of Isabel R. Grabel and Jessica S. Godt in Investor Relations, Miguel Zhindon in Technology and Grace Xu in Finance & Accounting.

“We continue to attract outstanding new talent following the successful closing of our latest buyout fund,” said Glenn M. Shor, Partner.  “These new team members further enhance the firm’s capacity and capabilities.”

Recent Promotions

Karina Perelmuter, Managing Director, Marketing & Investor Relations.  Prior to joining the firm in 2019, Ms. Perelmuter served as a Vice President in Lazard’s Private Capital Advisory practice, a member of the Investor Relations team at Tiger Global and a Fund Accountant at Mount Kellett.  She began her career in Assurance at Ernst & Young.  Ms. Perelmuter graduated magna cum laude from American University, where she earned a B.S. in finance and accounting.

Megan E. Kanefsky, Director, Human Capital.  Prior to joining the firm in 2021, Ms. Kanefsky spent 15 years in the Human Resources Group at Blackstone, where she focused on recruiting, benefits administration, performance evaluation and organizational development.  Ms. Kanefsky earned a B.A. in psychology from the University of Maryland and an M.A. in industrial and organizational psychology from Baruch College.

Bridget A. Harding, Vice President.  Prior to joining the firm in 2020, Ms. Harding began her career as an Investment Banking Analyst in Goldman Sachs’ Global Industrials Group.  Ms. Harding graduated summa cum laude from Lehigh University, where she earned a B.S. in accounting and finance.

Bailee D. Glass, Associate.  Prior to joining the firm in 2022, Ms. Glass began her career as an Alternative Investments Research Analyst in BlackRock’s hedge fund solutions group.  Ms. Glass graduated from the University of Chicago, where she earned a B.A. in economics.

Investment Team Additions

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Sandra Wong, Vice President, Credit.  Prior to joining the firm, Ms. Wong served as Vice President on the U.S. Investment Team at Strategic Value Partners, where she focused on distressed and special situations opportunities.  She began her career as an Investment Banking Analyst at Credit Suisse, where she later transitioned to the Private Equity Group.  Ms. Wong earned a B.A. in business economics as well as a minor in accounting from UCLA and an M.B.A from the Wharton School at the University of Pennsylvania.

Jack R. Chandler, Associate.  Prior to joining the firm, Mr. Chandler began his career as an Investment Banking Analyst at Grace Matthews.  He graduated magna cum laude from the University of Notre Dame, where he earned a B.B.A. in finance and applied computational mathematics and statistics.

Yosef W. Medhin, Associate.  Prior to joining the firm, Mr. Medhin was an Investment Banking Analyst in Citi’s Industrials Group and began his career as an Investment Banking Analyst at Deutsche Bank. He graduated from Washington and Lee University, where he earned a B.S. in business administration.

Jack R. Smith, Associate.  Prior to joining the firm, Mr. Smith began his career at Morgan Stanley in the Private Equity Solutions group. He graduated summa cum laude from Drexel University, where he earned a B.S. in finance.

Emily O. Strambi, Analyst.  Prior to joining the firm, Ms. Strambi began her career as an Equity Trading Analyst at the Royal Bank of Canada, where she covered the healthcare and consumer sectors.  She graduated magna cum laude from the Wharton School at the University of Pennsylvania, where she earned a B.S. in economics with concentrations in finance and business analytics as well as a minor in legal studies and history.

Other Team Additions

Isabel R. Grabel, Marketing & Investor Relations. Prior to joining the firm as a Senior Associate, Ms. Grabel was a Senior Associate at Harvest Partners, where she focused on private equity investments in industrials, healthcare, business services and consumer products.  She began her career as an Investment Banking Analyst at Jefferies.  Ms. Grabel graduated from the Ross School of Business at the University of Michigan, where she earned a B.B.A. with a concentration in finance and financial management services.

Jessica S. Godt, Marketing & Investor Relations.  Ms. Godt joined JFLCO in 2024 to support and consult on the firm’s marketing and fundraising efforts across private equity and credit strategies.  Previously, Ms. Godt served as Vice President of Investor Relations at Warwick Investment Group and began her career in Lazard’s Private Capital Advisory practice.  She earned a B.S. in commerce with concentrations in finance and management and a minor in business analytics from the University of Virginia.

Miguel Zhindon, Enterprise Technology.  Prior to joining the firm as a Vice President, Mr. Zhindon served as a Senior Technology Consultant at iCorps Technologies, tailoring IT strategies, training and technical support for JFLCO and other clients.  Previously, Mr. Zhindon held various roles in network administration and telecommunications.  He began his career in the United States Marine Corps and graduated from Pace University, where he earned an M.S. in information systems and assurance.

Grace Xu, Finance & Accounting.  Prior to joining the firm as an Assistant Controller, Ms. Xu served as a Business Unit Controller at Millennium Management.  Previously, Ms. Xu worked as a Manager at PricewaterhouseCoopers in the financial services group. Ms. Xu earned a B.S. in accounting from Pennsylvania State University. Ms. Xu is a Certified Public Accountant.

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About J.F. Lehman & Company, Inc.

Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. The firm has offices in New York and Washington, D.C.
http://www.jflpartners.com

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Fixed income investor meetings – update

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FORNEBU, Norway, Jan. 15, 2025 /PRNewswire/ — Reference is made to the announcement by Aker Horizons ASA (“Aker Horizons” or the “Company”) on 9 January 2025 regarding fixed income investor meetings and a potential new bond issue. The Company has met a broad range of investors and experienced strong interest from the market.

The Company has received valuable feedback, which it will evaluate as part of the ongoing process to optimize the Company’s overall capital structure. Accordingly, the Company will not pursue a potential bond offering at this time. 

Aker Horizons has a robust liquidity position and benefits from strong support from its main shareholder and creditor Aker ASA. The Company is committed to its strategy of developing green energy and green industry. 

For further information, please contact:
Stian Andreassen, Investor Relations, Tel: +47 41 64 31 07
[email protected]

Mats Ektvedt, Media, Tel: +47 41 42 33 28
[email protected]

About Aker Horizons:

Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and sustainable industrial assets. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. www.akerhorizons.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

IMPORTANT INFORMATION

This communication is not an offer to sell or purchase, or the solicitation of an offer to sell or purchase, any securities, or the solicitation of a proxy, in any jurisdiction in which, or to any person to whom, such offer, sale or solicitation is not authorized or would be unlawful.

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This communication contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and other statements, which are not statements of historical facts. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will be” and similar expressions. You are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, and that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward -looking information and statements contained herein. The forward-looking statements in this communication speak only as of the date hereof and, other than as may be required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-horizons/r/fixed-income-investor-meetings—update,c4091958

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Statement of Ad Hoc Lebanon Bondholder Group

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LONDON and NEW YORK, Jan. 15, 2025 /PRNewswire/ — In March 2020, several of the largest institutional holders of sovereign bonds issued by Lebanon formed a group (the “Ad Hoc Group”) in response to the deteriorating financial and economic situation in the country and the government’s decision to default on its international bonds.  The Ad Hoc Group’s stated objective from the outset has been to find a sustainable and equitable solution to Lebanon’s severe debt challenges. The Ad Hoc Group is supported by White & Case LLP as legal advisor. 

The intervening years have witnessed a further decline of Lebanon’s political, economic and security situation, which has prevented any meaningful engagement with the Lebanese authorities.  Despite the lack of progress to date, the Ad Hoc Group continues to provide a forum for coordination and communication among international bondholders, and remains prepared to engage constructively with the Lebanese authorities and other domestic and international stakeholders.

In this regard, the Ad Hoc Group is encouraged by the recent election of Joseph Aoun as President of Lebanon and nomination of Nawaf Salam as prime minister, and looks forward to the formation of a new government that will have the mandate to address the many challenges facing the country. 

The Ad Hoc Group also takes note of last week’s statement of the Council of Ministers of Lebanon relating to the proposed suspension of Eurobond prescription periods until 9 March 2028, and confirms its willingness to discuss the implementation of the proposed suspension with the authorities and, at the appropriate time, to engage more broadly to find a resolution to the longstanding debt default.

Holders of Lebanon’s international bonds who wish to learn more about the Ad Hoc Group and its objectives, or discuss recent developments, may contact White & Case LLP by emailing [email protected].

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