Fosun Reports 2025 Results With RMB23.4 Billion in Write-Downs and a Higher 2026 Payout Target

Overview

• Fosun reported RMB173.43 billion in 2025 revenue and RMB4 billion in adjusted industrial operation profit.
• Non-cash write-downs totaled RMB23.4 billion, with about 55% tied to real estate and the rest to non-core assets.
• Liquidity stayed strong with RMB61.1 billion in cash and RMB144.6 billion in unused bank facilities, and S&P kept its outlook at Stable.
• Management set medium-term goals to restore annual profit to about RMB10 billion, recover RMB60 billion in cash, and cut group-level debt below RMB60 billion.
• Overseas revenue reached RMB94.86 billion, or 54.7% of sales, while drug innovation advanced with RMB7.8 billion invested, multiple approvals, and more than USD260 million in upfront licensing.