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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Fosun International Limited    0656   HK0656038673

FOSUN INTERNATIONAL LIMITED

(0656)
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Fosun International : ANNOUNCEMENT - STATEMENT REGARDING MARKET SPECULATION

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09/27/2019 | 12:13am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ANNOUNCEMENT

STATEMENT REGARDING MARKET SPECULATION

Reference is made to the announcement of Fosun Tourism Group, a subsidiary of Fosun International Limited (the "Company", together with its subsidiaries, the "Group") dated 24 September 2019 and the recent market speculation in relation to the investment in Thomas Cook Group plc ("Thomas Cook") by the Group.

As at 30 June 2019, the Group held approximately 18.6% equity interests in Thomas Cook and the carrying amount was approximately RMB327 million (approximately GBP37.6 million). Therefore, the application for compulsory liquidation of Thomas Cook has limited financial impact to the Group. The Group has not acquired any further interest in Thomas Cook after 30 June 2019. The Company would like to clarify that the Group has never provided any guarantee to Thomas Cook and has not made any investment in relation to the possible recapitalization of Thomas Cook.

By Order of the Board

Fosun International Limited

Guo Guangchang

Chairman

27 September 2019

As at the date of this announcement, the executive directors of the Company are Mr. Guo Guangchang, Mr. Wang Qunbin, Mr. Chen Qiyu, Mr. Xu Xiaoliang, Mr. Qin Xuetang, Mr. Wang Can and Mr. Gong Ping; and the independent non-executive directors are Mr. Zhang Shengman, Mr. Zhang Huaqiao, Mr. David T. Zhang, Mr. Yang Chao and Dr. Lee Kai-Fu.

Disclaimer

Fosun International Limited published this content on 27 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2019 04:12:06 UTC

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Financials (CNY)
Sales 2019 122 B
EBIT 2019 26 557 M
Net income 2019 14 780 M
Debt 2019 81 785 M
Yield 2019 3,84%
P/E ratio 2019 5,30x
P/E ratio 2020 4,94x
EV / Sales2019 1,33x
EV / Sales2020 1,30x
Capitalization 80 592 M
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Mean consensus BUY
Number of Analysts 10
Average target price 13,58  CNY
Last Close Price 9,44  CNY
Spread / Highest target 69,0%
Spread / Average Target 43,8%
Spread / Lowest Target 4,38%
EPS Revisions
Managers
NameTitle
Qun Bin Wang Chief Executive Officer & Executive Director
Qi Yu Chen Co-President & Executive Director
Xiao Liang Xu Co-President & Executive Director
Guang Chang Guo Chairman
Linnan Xue Chief Financial Officer
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