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    1992   KYG365731069

FOSUN TOURISM GROUP

(1992)
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Fosun Tourism : (1) RESIGNATION OF EXECUTIVE DIRECTOR AND (2) CHANGE IN CHIEF FINANCIAL OFFICER, COMPOSITION OF THE BOARD COMMITTEES AND AUTHORIZED REPRESENTATIVE

04/25/2021 | 06:16am EDT

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.

Fosun Tourism Group

復 星 旅 遊 文 化 集 团

(a company incorporated under the laws of the Cayman Islands with limited liability)

(Stock Code: 01992)

    1. RESIGNATION OF EXECUTIVE DIRECTOR AND
  1. CHANGE IN CHIEF FINANCIAL OFFICER, COMPOSITION OF THE BOARD COMMITTEES AND AUTHORIZED REPRESENTATIVE

RESIGNATION OF EXECUTIVE DIRECTOR, CHIEF FINANCIAL OFFICER, MEMBER OF REMUNERATION COMMITTEE, MEMBER OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE COMMITTEE AND AUTHORIZED REPRESENTATIVE

The board (the "Board") of directors (the "Director(s)") of Fosun Tourism Group (the "Company", and its subsidiaries, the "Group") announces that Mr. Wang Wenping ("Mr. Wang") recently tendered his resignation as an executive Director, vice president, chief financial officer of the Company, member of the remuneration committee of the Board (the "Remuneration Committee"), member of the environmental, social and governance committee of the Board (the "ESG Committee"), authorized representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited (the "Authorized Representative") and all other positions in the Group due to family reasons with effect from 25 April 2021.

Mr. Wang has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

APPOINTMENT OF CHIEF FINANCIAL OFFICER

The Board also announces that that, with effect from 26 April 2021, Mr. Choi Yin On (蔡賢 安) ("Mr. Choi") has been appointed as the vice president and chief financial officer of the Company responsible for overseeing the Group's accounting and financial management, and formulating business plans, strategies and major decisions of the Group. The biographical details of Mr. Choi are set out below.

- 1 -

Mr. Choi, aged 37, has extensive experience in the industry of corporate and investment banking. Prior to joining the Company, he worked at Citigroup Global Markets Asia Limited from 2015 to 2021, with his last position being a director of Asia Pacific real estate

  • lodging investment banking, responsible officer and principal. From 2005 to 2015, Mr. Choi worked at DBS Bank Ltd., Hong Kong Branch and DBS Asia Capital Limited, and his last position held was a vice president of institutional banking group.

Mr. Choi obtained a bachelor's degree in business administration from the Chinese University of Hong Kong in 2005 and a master's degree in business administration from the University of Cambridge in 2012.

APPOINTMENT OF COMPOSITION OF THE BOARD COMMITTEES AND AUTHORIZED REPRESENTATIVE

The Board further announces that, with effect from 25 April 2021, (i) Mr. Henri Giscard d'Estaing (executive Director, vice chairman of the Board and deputy chief executive officer) has been appointed as a member of the ESG Committee; and (ii) Mr. Xu Bingbin (executive Director, executive president and co-chief financial officer) has been appointed as a member of the Remuneration Committee and an Authorized Representative.

GRATITUDE AND WELCOME

The Board would like to take this opportunity to express its sincere gratitude to Mr. Wang for his valuable efforts and contributions to the Company during his tenure of office and extends its warm welcome to Mr. Choi on his appointment as the vice president and chief financial officer of the Company.

By Order of the Board

Fosun Tourism Group

Qian Jiannong

Chairman

Hong Kong, 25 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Qian Jiannong, Mr. Henri Giscard d'Estaing and Mr. Xu Bingbin; and the independent non-executive directors are Dr. Allan Zeman, Mr. Guo Yongqing and Ms. Katherine Rong Xin.

- 2 -

Disclaimer

Fosun Tourism Group published this content on 25 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2021 10:15:00 UTC.


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Sales 2021 11 635 M 1 788 M 1 788 M
Net income 2021 -1 770 M -272 M -272 M
Net Debt 2021 7 770 M 1 194 M 1 194 M
P/E ratio 2021 -5,22x
Yield 2021 0,38%
Capitalization 9 722 M 1 493 M 1 494 M
EV / Sales 2021 1,50x
EV / Sales 2022 0,98x
Nbr of Employees -
Free-Float 17,6%
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Number of Analysts 7
Last Close Price 7,85 CNY
Average target price 11,42 CNY
Spread / Average Target 45,4%
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Managers and Directors
Jian Nong Qian Chairman & Chief Executive Officer
Ming Long Cao Co-President
Qing Guo Co-President
Bing Bin Xu Co-Chief Financial Officer & Executive Director
Yin On Choi Co-Chief Financial Officer & Vice President