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    1992   KYG365731069


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03/15/2021 | 07:33am 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)


The board (the "Board") of directors (the "Director(s)") of Fosun Tourism Group (the "Company", together with its subsidiaries, the "Group") is pleased to announce that Mr. Xu Bingbin (ࢱ٢⽖) ("Mr. Xu") has been appointed as an executive Director with effect from 15 March 2021.

The biographical details of Mr. Xu are set out below.

Mr. Xu, aged 40, has joined the Group since November 2009 and currently serves as executive president and co-chief financial officer of the Company and primarily responsible for overall investor relations, driving strategy planning and implementation of Club Med and supervising the development of overseas business. Mr. Xu has held various positions in the Group including a director of Club Med SAS (a subsidiary of the Company), a director of Thomas Cook Tourism (UK) Company Limited1 (a subsidiary of the Company) and a director of Kuyi International Travel Agency (Shanghai) Co., Ltd. (a subsidiary of the Company). In addition, Mr. Xu has served as a director of Vigor Kobo Co., Ltd. (Taipei Exchange stock code: 2733) since 2012. Prior to joining the Group, Mr. Xu served as an assistant general manager of China International Economic Consultants Co., Ltd. Shanghai Branch, CITIC Group from March 2006 to October 2009, where he was mainly responsible for merger and acquisitions, investment and strategy consulting. Mr. Xu obtained a bachelor's degree in economics from Shanghai University in July 2003 and a master's degree in international business from Monash University in Australia in November 2005.


Such company was incorporated in 2019 for the purpose of expansion of overseas business after the acquisition of brand of Thomas Cook in November 2019.

Mr. Xu has entered into a director service agreement with the Company for a term of three years commencing from 15 March 2021 and subject to termination by either party with three month's written notice. The appointment shall be subject to retirement and re-election at the forthcoming general meeting of the Company and also be subject to the rotation and eligible re-election requirements under the memorandum and articles of association of the Company. As a senior management member, Mr. Xu is entitled to an annual emolument of RMB1,623,253 and is eligible to receive discretionary bonus as recommended by the remuneration committee of the Board and determined by the Board with reference to his duties and responsibilities undertaken, the prevailing market conditions and the terms of the Company's remuneration policy. Mr. Xu will not receive any director's fee from the Company other than the abovementioned emolument.

As of the date of this announcement, Mr. Xu is interested in 2,037,625 shares of the Company, representing 0.16% equity interest in the Company.

As of the date of this announcement, save as disclosed above, Mr. Xu (i) does not, nor did he in the past three years, hold directorships in any public companies the securities of which are listed on any securities market in Hong Kong or overseas or other major appointments and professional qualifications; (ii) does not have any relationships with any other Directors, senior management, substantial shareholders or controlling shareholders of the Company; and (iii) is not interested in and does not hold any short position in any shares or underlying shares in or any debentures of the Company or any of its associated corporation within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, there is no other information relating to the appointment of Mr. Xu as an executive Director that needs to be brought to the attention of the shareholders and there is no other information relating to Mr. Xu which is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.

The Board would like to extend its warmest welcome to Mr. Xu for joining the Board.

By Order of the Board

Fosun Tourism Group

Qian Jiannong


15 March 2021

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


Fosun Tourism Group published this content on 15 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2021 12:32:10 UTC.

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Jian Nong Qian Chairman & Chief Executive Officer
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Qing Guo Co-President
Bing Bin Xu Co-Chief Financial Officer & Executive Director
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