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Ceva Animal Health renews its shareholding structure with all its long-standing partners and opens its capital to Mérieux Institute and ARCHIMED to accelerate its growth.

LIBOURNE, France, March 31, 2025 /PRNewswire/ — Ceva Animal Health (Ceva), the world’s fifth-largest animal health company, announces the restructuring of its capital. All investors, whether “Friends of Ceva” or pure investors led by Temasek, have renewed their investment, demonstrating their confidence in the company’s ability to continue its sustained growth.

Ceva’s management, led by Dr. Marc Prikazsky, has reinforced its participation and still retains the majority of voting rights, reaffirming the company’s commitment to remaining independent. It is supported by a core group of long-term investors, known as “Friends of Ceva” ensuring a stable and committed shareholding structure for the group’s development.

With 7,000 employees, Ceva is a global leader in animal health, particularly in vaccination. Operating directly in 47 countries, the company delivers its products, services and equipment’s worldwide to veterinarians, livestock professionals, and pet owners.

To support innovation in animal health, the Bettencourt-Meyers and Mérieux, have increased their stake through the investment holding Téthys Invest and Mérieux Institute that joined forces with investment fund Mérieux Equity Partners. Canadian pension investor PSP Investments, a long-term investor in Ceva, has also significantly increased its ownership in the group. Other companies participating in the “Friends of Ceva” include Sofiprotéol, the investment branch of the French group Avril, the Japanese company Mitsui & Co., as well as some local investment funds and the Klocke family.

The long-standing minority investors have renewed their commitment, demonstrating their confidence in Ceva’s future. Leading this group of partners is the Singapore-based global investment firm Temasek, joined by French investors EMZ and Sagard, Asia-based HOPU Investments, and U.S.-based Continental Grain Company. This sixth funding round also welcomes the addition of the French investment fund ARCHIMED, led by veterinarian Dr. Denis Ribon. Specializing in the healthcare sector, ARCHIMED focuses on supporting companies in expanding internationally and accelerating their research programs.

Since its founding in 1999, Ceva has grown its revenue fourteenfold, reaching €1.77 billion last year. Driven by innovation and deeply committed to preventive medicine, Ceva was the first veterinary company to develop and commercialize a cutting-edge nucleotide vaccine and invest in gene therapy for companion animals. Aware of its responsibility in addressing major global challenges, Ceva is strongly committed to reducing its environmental impact and promoting the preservation of animal biodiversity.

“I am delighted to see that in this new round of financing, the management’s participation, supported by the ‘Friends of Ceva’, is being strengthened alongside our historic financial investors and new entrants. Ceva plays a major role in animal health, particularly in the fight against emerging diseases, sometimes zoonotic, and in the treatment of chronic diseases affecting our loyal four-legged companions. At Ceva, we are convinced that we must continue to create bridges between different health sectors to protect the health of ecosystems and humans as well as global food security,” said Dr. Marc Prikazsky, Chairman and CEO of Ceva Animal Health.

Ceva would like to thank its advisors, Lazard, Rothschild, Weil, and Callisto, and their teams for their support.

About Ceva Animal Health

Ceva Animal Health (Ceva) is the 5th global animal health company, led by experienced veterinarians, whose mission is to provide innovative health solutions for all animals to ensure the highest level of care and well-being. Our portfolio includes preventive medicine such as vaccines and animal welfare products, pharmaceutical solutions for farm and companion animals, as well as equipment and services to provide the best experience for our customers.

With more than 7,000 employees located in 47 countries, Ceva strives daily to bring to life its vision as a One Health company: “Together, beyond animal health”.

2024 turnover: €1.77 billion

Contact:  Emilie Barrail, Head of external communication, emilie.barrail@ceva.com

 

Calvados Pays d’Auge Boulard unveils its 200th Anniversary Cuvée, a tribute to two centuries of artisanal know-how and innovation

PARIS, March 31, 2025 /PRNewswire/ — Since its founding in 1825, Boulard has revealed the best of Calvados Pays d’Auge throughout the world, this one-of-a-kind French treasure. Inspired by the founders’ visionary approach, this new release celebrates the Maison’s unparallel craft and mastery of wood maturation. The 200th  Anniversary Cuvée is a testament of this expertise, crafted from a blend of Calvados aged for at least 18 years, and offers an exceptional tasting experience.

Click here to uncover the full story behind this cuvée and its creation : 
https://www.multivu.com/boulard_calvados/9325551-en-unveil-200th-anniversary-cuvee-tribute-two-centuries-artisanal-innovation

A CAREFULLY CRAFTED BLEND

This blend, meticulously crafted by Sylvain Pluchard, Boulard’s seventh Cellar Master, is the work of a true goldsmith. Sylvain passionately perpetuates a unique know-how passed down through generations that sublimates the Norman terroir.

“The Bicentenary Cuvée represents a decade of meticulous work, a tribute to 200 years of Maison Boulard and the unique DNA of our Calvados. Every drop of this cuvée embodies the excellence we have nurtured since 1825, and I am proud to pass it on after 30 years with this great House.” — Sylvain Pluchard, Cellar Master at Maison Boulard.

A UNIQUE TASTING EXPERIENCE

The cuvée shows a beautiful amber color with a complex nose of caramelized apple, spices, wood, and a hint of licorice. On the palate, it reveals roundness, richness, and elegance, with flavors of dried fruits, licorice, wood, and tobacco, offering a delicate finish. A Calvados of great finesse, balanced between sweetness and character.

A LIMITED EDITION

Only 7,000 bottles have been crafted for this special edition. Savor a piece of history with this rare and exquisite cuvée, created for enthusiasts and connoisseurs. Find this one-of-a-kind expression online on our website, as well as in a selection of retail outlets starting from April.

Contact:

contact@spirit-france.com

Video –  https://mma.prnasia.com/media2/2649506/Boulard_Calvados.mp4

 

 

Calvados Pays d’Auge Boulard unveils its 200th Anniversary Cuvée, a tribute to two centuries of artisanal know-how and innovation

 

Calvados Pays d’Auge Boulard unveil 200th Anniversary Cuvee tribute two centuries artisanal innovation.
Calvados Pays d’Auge Boulard unveil 200th Anniversary Cuvee tribute two centuries artisanal innovation.

 

Current State of Creativity x Technology in Tokyo as Seen through CCBT: Civic Creative Base Tokyo (CCBT) Report

TOKYO, March 31, 2025 /PRNewswire/ — Civic Creative Base Tokyo (CCBT) has been engaging in creative activities through art and digital technology, co-creating with various players such as citizens, artists, companies and research institutions since its opening in October 2022. To reflect on CCBT’s activities over the past two and a half years and consider its future direction, it has compiled the Civic Creative Base Tokyo (CCBT) Report.

This report introduces the mission, vision and activities of CCBT, and it also evaluates the activities qualitatively and quantitatively, gathering real voices from citizens and artists who participated. Through the power of art and digital technology, the report will serve as a guide for future activities, tracking the development of CCBT and Civic Creative in Tokyo. Please download the report from the link below.

Overview
Civic Creative Base Tokyo (CCBT) Report
For more details, please visit the official website.

Official website:
https://www.seikatubunka.metro.tokyo.lg.jp/bunka/bunka_jigyo/tokyo_ccbt

Edited and published by:
Cultural Events Section, Culture Promotion Division, Bureau of Citizens, Culture and Sports, Tokyo Metropolitan Government

What is CCBT?
Civic Creative Base Tokyo (CCBT) is a hub for activities that aim to bring the creativity of people to society through art and digital technology. Equipped with creative spaces and studios, CCBT organizes a wide-ranging program of events and projects to serve as a driving force for making Tokyo better through creativity and technology.

It works to become a node for utilizing the knowledge and technology that accumulate in the city, collaborating with artists, various experts and companies to research, develop and exhibit art, design and technology within the context of Civic Creative. Collaborating with citizens of Tokyo and creators from around the world, CCBT envisions the future landscapes of Tokyo.

Four missions for engaging civic creativity
Inspire:
CCBT aspires to be a place for encounters with art and technology, and for learning how to live creatively.

Co-create:
Thinking about the future of Tokyo in partnership with various others, CCBT designs the society to come.

Incubate:
Welcoming artists and creatives as partners, CCBT makes and disseminates new artistic expression.

Network:
Forming connections with people and the city, and building an international network, CCBT strives to be a hub for digital creativity.

More details: https://ccbt.rekibun.or.jp/en/ 

PENTA LASER Successfully Hosts New Product Launch in Japan

OKAYAMA, Japan, March 31, 2025 /PRNewswire/ — On March 29, PENTA LASER held its new product launch event in Okayama, Japan. The ceremony kicked off with a welcome address by Mr. Matsunaga, Chairman of Daisho Precision Inc. Wu Rangda, President and Dean of the Research Institute of PENTA LASER Group, and Xu Xia, General Manager of the Group’s Automation Department, respectively unveiled the company’s latest thick-plate metal cutting and welding technology and laser automation production line technology. Professor Mr. Okamoto from Okayama University shared insights into the principles and development trends of laser processing technology, while Mr. Ishimaru Tsuyoshi, General Manager of Maxphotonics Japan Service Center, introduced the center’s operational status. Over 30 Japanese corporate executives and technical directors attended the event.

PENTA Laser Automation Line Schematic and On - site Customer Visit Photos
PENTA Laser Automation Line Schematic and On – site Customer Visit Photos

The launch took place at Daisho Precision Inc., a leading manufacturer of mechanical components equipped with multiple TRUMPF laser cutters and six PENTA LASER cutting machines. Earlier this year, the company installed a 12kW fully automated cutting production line designed by PENTA LASER, which has operated continuously for 24 hours a day for 2 months. Attendees visited the automated production line’s live demonstration with great interest and delivered high praise for its stable performance and significant efficiency improvements.

The automated production line integrates three PENTA LASER Bolt VII series high-speed cutting machines, an intelligent 3D material storage system, and fully automated loading/unloading, paired with the self-developed Penta-WCS Central Control System. This system enables seamless functions such as one-click automatic material storage, intelligent inventory management, automated loading/unloading, automatic nozzle replacement, and optical center calibration. It optimizes production scheduling, assigns tasks to machines, and completes operations autonomously without human intervention.

This market initiative has received highly positive feedback across Japan and Asia, marking a significant milestone in PENTA LASER’s global expansion strategy.

Africa’s largest optical fibre cable manufacturing facility is set to become a skills hub of excellence in optical fibre

DURBAN, South Africa, March 31, 2025 /PRNewswire/ — Recently, Yangtze Optics Africa Cable (Pty) Ltd (YOA Cable) solidified its position as the largest optical fibre manufacturer in Africa following a significant expansion investment of optical fibre manufacturing facility, located at the Dube Trade Port in KwaZulu-Natal, a coastal South African province, marking a significant milestone in local optical fibre manufacturing and innovation.

The expansion will also generate additional job opportunities, with about 25% of these positions focused on leadership roles and internships through YOA Cable’s Learnership and Internship Programme. This initiative aligns directly with the Youth Employment Programme, underscoring our commitment to nurturing the next generation of professionals and contributing to the local economy.

Working with other strategic partners, YOA Cable is now able to localise the supply of natural polyethylene supply. This is the first locally produced polyethylene product used in the manufacturing of optical fibre cable in South Africa, in more than 20 years. This is a first-hand example of the positive impact that localisation of the optical fibre supply chain can have.

The facility’s expansion directly responds to the growing demand for high-speed connectivity, fuelled by the rapid digital transformation across industries, including education, healthcare, e-commerce, and government services. It will be crucial in supporting South Africa’s growing digital economy.

With the rapid expansion of 5G and AI-driven technologies, the demand for high-speed connectivity has never been greater. With this increased scale, YOA Cable will now be at the forefront of this digital transformation in South Africa. This development will not only enhance scalability but also strengthen its competitive edge in an increasingly evolving market. The growth initiative will enable YOA Cable to tap into new opportunities beyond South Africa, including neighbouring countries where it has previously seen success, and further enhance efforts to contribute towards the country’s skills development efforts in this highly specialized sector.

The Government of South Africa has welcomed YOA Cable’s investment in the country’s digital infrastructure. According to Yunus Hoosen, Head of Invest SA within the DTIC, “this expansion marks a pivotal moment in the country’s push towards achieving digital inclusivity and strengthening local manufacturing capabilities.”

Hoosen noted that the South African government views this investment as an integral part of the country’s broader digital transformation strategy. The ongoing collaboration between the private sector and government, through initiatives like this, is helping to create a more connected, inclusive, and innovative economy for all South Africans.

Local optical fibre cable manufacturing and expertise will enable direct collaboration with telecom operators and fibre network owners to develop fit-for-purpose products supplied cost effectively. In turn, this will be important in expanding broadband access, bridging the connectivity gaps, and particularly providing connectivity in remote and rural areas to enable greater economic participation.

Since 2014, Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) has significantly expanded international operations as a key component of the company’s globalization roadmap. We now operate over 50 offices worldwide, establishing a robust global marketing and service network that extends across 100 countries and regions. We have established eight production facilities in six countries—Indonesia, South Africa, Brazil, Poland, Germany, and Mexico. The strategic distribution of facilities allows us to customize our operations to meet local demands effectively.

These initiatives not only cater to local markets and boost economic development but also generate significant employment opportunities within these communities. At YOFC, we are dedicated to extending fibre optic connectivity to every corner of the globe. By partnering with industry leaders worldwide, we aim to advance the adoption of fibre technology, bridge the digital divide, and address developmental disparities. Our goal is to ensure that everyone has access to more reliable and high-quality network connections, fostering a digitally enriched quality of life for all.

For more information, please visit YOFC’s website – https://en.yofc.com/ 

 

Wynn Hosts Grand Ceremony for the 2025 Wynn Signature Chinese Wine Awards on April 11

Close to 900 wines compete for top honors as Wynn promotes Chinese wines on a global level

MACAU, March 31, 2025 /PRNewswire/ — Macao will soon be in the global spotlight once again as Wynn plays host to the second edition of the Wynn Signature Chinese Wine Awards ceremony on April 11. Created by “Wynn Signature”, Wynn’s exclusive lifestyle brand, and with the support of the Macao Government Tourism Office (MGTO), the 2025 Wynn Signature Chinese Wine Awards is the largest gathering of its kind to evaluate Chinese wines based on international standards. After the highly anticipated results are revealed at the ceremony, Wynn will host four engaging industry events, bringing together world-renowned wine experts, representatives from China’s leading wineries, industry professionals, international media and wine enthusiasts to savor the highest quality of wines from China and promote Chinese wines on an international level.

The 2025 Wynn Signature Chinese Wine Awards reveal the complete list of Gold Medal Wine winners
The 2025 Wynn Signature Chinese Wine Awards reveal the complete list of Gold Medal Wine winners

The vision behind the Wynn Signature Chinese Wine Awards is to select China’s top wines, commend outstanding winemakers, and promote Chinese wines on a global stage. Following on from the success of the inaugural awards event in 2024, this year’s competition has been elevated to even higher standards with respect to the judging system, panel of judges, scale of participation, variety of awards and post-event promotions. The composition of the 2025 panel of judges has also been elevated to feature 27 of the world’s leading authorities on wine, including 10 Masters of Wine (MW), 3 Master Sommeliers (MS), and 1 industry expert with dual MW and MS certifications. In keeping with international judging protocols, the wine tastings for nearly 900 varieties of wine from close to 200 of China’s top wineries were conducted blind, and wines were appraised according to the internationally recognized 100-point system. Medals have been awarded to wines based on a tiered scoring system of bronze medals (85-89 points), silver medals (90-94 points) and gold medals (95-100 points).

After rigorous evaluation, the “Wynn Signature Best Wine of China Trophy” as well as the trophies for wines across three divisions: “Wynn Signature Trophies”, “Varietals Champion Trophies” and “Regional Champion Trophies” have been selected from the Gold Medal List. Wynn has also introduced two new award categories this year: “Wynn Sommelier’s Choice” and “Best Young Winemaker”, and the winners will be revealed at the awards ceremony. The complete Gold, Silver and Bronze Medal Winner List has already been announced ahead of the ceremony. For a limited time from now through April 10, 35 Gold Medal Wines are now on display at the West Esplanade of Wynn Palace, giving guests and wine enthusiasts just a taste of what’s to come at the highly anticipated awards ceremony on April 11.

Following the inaugural Wynn Signature Chinese Wine Awards event last year, the competition has received significant recognition and substantial policy support from local governments and industry organizations in China. The Yantai City Commerce Bureau and the Finance Bureau of Shandong Province were the first to launch incentive measures for award-winning wineries by releasing “Guidelines for Receiving Subsidies for the Development of the Wine Industry in Yantai City” in March 2024. Most recently in March 2025, The Xinjiang Uygur Autonomous Region Forestry and Grassland Bureau officially released “Guiding Opinions on the Development of Xinjiang Wine Industry Funds” to reward companies that participate in and win gold medals from professional and authoritative wine competitions in China and internationally, such as the Wynn Signature Chinese Wine Awards, the International Wine Challenge (IWC), Concours Mondial de Bruxelles (CMB) and more. Now that the Wynn Signature Chinese Wine Awards have successfully garnered global acclaim, ranking alongside other prestigious international wine competitions, this once again demonstrates how the awards are able to play an influential role in promoting Chinese wines on a global scale.

Wynn hosts four major wine industry events, becoming a wine cultural hub

After the winners are revealed, Wynn will become a cultural hub for Chinese wines as it plays host to four major events designed to give industry players an opportunity to exchange ideas and explore the local terroirs of China’s rich wine landscape on April 12 at Wynn Palace.  The day begins with Xing Wei MW, as he presents the “50 Years of Challenges: The Renaissance of Chinese Wine Forum”. Professor Zhan Jichen of China Agricultural University, veteran winemakers Guo Songquan and Zhang Chunya, as well as representatives from China’s seven core wine production regions, will also discuss the development of Chinese wines over the past 50 years and the future potential of the industry. In the afternoon, Julian Boulard MW will join Yi Guotao, an expert on wines in China, to host the “Marselan: A Signature Grape of Chinese Wine” Masterclass to talk about the evolution and the beauty of Marselan, a unique Chinese grape varietal from different terroirs across the country.

In the evening, the Michelin two-starred Chef Tam’s Seasons at Wynn Palace and the Michelin two-starred Wing Lei at Wynn Macau will host two award-winning wine dinners for the Wynn Signature Chinese Wine Awards, pairing award-winning wines with exceptional dishes to showcase the best of China’s wines. At Wynn Palace, Cantonese Master Chef Tam Kwok Fung at Chef Tam’s Seasons will tailor-make a 6-course menu to pair with wines which have been meticulously chosen by Fongyee Walker MW and Xing Wei MW for the “Cantonese Master Chef Tam Kwok Fung – A Cantonese Feast of Six Chinese Regions’ Wine & Ingredients” dinner.  Professor Ma Huiqin of China Agricultural University has also been invited to share her insights about the wines during the dinner at Chef Tam’s Seasons. At Wynn Macau, Executive Chef Chan Tak Kwong of Wing Lei will team up with Julien Boulard MW and renowned wine KOL Terry Xu (“Xiao Pi“), to pair award-winning wines from the 2025 Wynn Signature Chinese Wine Awards at the “Executive Chef Chan Tak Kwong – Award-winning Chinese Wines Paired with Traditional Cantonese Cuisine” dinner.

Judging week highlights: Insightful exchanges and phenomenal dining experiences

Prior to the awards ceremony, Wynn Macau and Wynn Palace held a six-day judging week, where an international panel featuring 27 of the foremost authorities on wine gathered in Macao to evaluate Chinese wines from February 28 to March 5.  On top of the intense rounds of judging, Wynn hosted a series of wine seminars, masterclasses, and collaborative wine dinners presented by the world’s leading wine experts and the award-winning chefs at Wynn, creating an unforgettable event.

During the judging week, Professor Ma Huiqin, wine masters Xing Wei MW, Julien Boulard MW and wine influencer Terry Xu (“Xiao Pi“) held four seminars to share their global perspectives on the future potential of China’s core wine production regions, the country’s unique grape varietals and examined future digital trends in the China wine industry. The seminars offered a platform for wine experts from around the world to engage in in-depth discussions and explore new opportunities. Richard Hemming MW, Gus Zhu MW and Dr. Jamie Goode, as well as two of the world’s leading authorities on Bordeaux wine – Jane Anson and João Pires MS – held three international masterclass sessions to give participants an opportunity to taste some of the best wines from around the world. Globally renowned wine experts – Xing Wei MW, Kenichi Ohashi MW, Christy Canterbury MW, Kevin Lu MS and Terry Xu “Xiaopi” – also partnered with the award-winning culinary teams at Lakeview Palace, Mizumi, SW Steakhouse at Wynn Palace and Drunken Fish at Wynn Macau to pair the finest wines from China and around the world with masterfully prepared dishes.

For the latest updates on the Wynn Signature Chinese Wine Awards and the complete list of Gold, Silver and Bronze medal winners, please visit the following official awards website: https://www.wynnresortsmacau.com/en/wynn-palace/whats-on/wynn-signature-chinese-wine-awards 

The Gold Medal Wines are now on display for a limited time at the West Esplanade of Wynn Palace until April 10
The Gold Medal Wines are now on display for a limited time at the West Esplanade of Wynn Palace until April 10

The 2025 Wynn Signature Chinese Wine Awards judging panel features 27 of the world's foremost authorities on wine
The 2025 Wynn Signature Chinese Wine Awards judging panel features 27 of the world’s foremost authorities on wine

Thailand’s New Digital Arrival System Sparks Confusion Among Travelers

Thailand digital arrival card
Thailand digital arrival card

Starting 1 May, Thailand will implement the digital arrival card (TDAC), replacing the traditional paper form for all foreign passport holders. This new system, also known as the “TM.6 Online,” requires travelers to submit their arrival information online at least three days before arriving in the country.

Guo Guangchang’s Letter to Shareholders: Fosun International Pursues Progress through “Strategic Advancements and Exits”

HONG KONG, March 31, 2025 /PRNewswire/ — Guo Guangchang, Chairman of Fosun International Limited (HKEX: 0656), issued a letter to its shareholders on 30 March, outlining the Company’s strategic direction, accomplishments, and future plans.

Dear shareholders,

The year 2024 concluded successfully, thanks to the collective efforts of all Fosuners. Looking back on the past year, we sustained steady growth momentum and demonstrated robust resilience in the face of global economic fluctuations and market challenges. We continuously advanced our core business-focused and business streamlining strategy by divesting non-core assets and heavy assets to focus on core operations, reduce debt, and optimize our capital structure. The signed asset divestment amounted to approximately RMB17.5 billion equivalent at the group level, and approximately RMB30.0 billion equivalent at the consolidated level. In the course of asset divestment, the adjustment in the carrying value of an individual investment impacted our 2024 financial performance. Nonetheless, Fosun’s overall operational fundamentals remain stable, the core businesses are under healthy development, and the industrial operation profits and operating cash flows stay healthy and stable. Looking ahead, we will further deepen our focus on core industries, leveraging our globalization and innovation capabilities to create long-term and stable value for our shareholders.

Focusing on core businesses, achieving success through “strategic advancements and exits”

Over the past few years, we have remained committed to our core business-focused and business streamlining strategy. While some companies and teams have bid farewell to the Fosun family during this period, I can assure you that we have never sold any company at a low price merely to offload assets. Their departure was not a result of hasty sale, but rather a deliberate decision made in line with our long-term strategy to sharpen focus on future development. Throughout this collaborative journey, we have consistently fostered win-win outcomes with our partners. The value achieved by these companies underscores our unwavering commitment and effective management over the years, continually driving enhancements to their intrinsic value. I am deeply grateful to the management teams who have led these outstanding companies forward, as their exceptional performance has enabled Fosun to navigate challenging environments with stability.

In 2022 and 2023, we dedicated ourselves to a business streamlining strategy that reinforced our foundation and enabled us to advance with greater agility. In 2024, we placed greater emphasis on “balanced investment and divestment, strategic advancements and exits”. While remaining committed to the divestment of non-core businesses, we also prioritized the “advancement” of our core operations, thereby ensuring sustainable growth for the Company and creating greater value for our shareholders. As a result, throughout the past year, we made notable “advancements” by focusing on our core industries. In health business, Fosun Pharma increased its stake in Fosun Kairos to 100%, which specializes in the research and development (“R&D“), manufacturing and commercialization of CAR-T cell therapy. In tourism and culture business, the ULTRAMED Hainan project in Sanya was officially launched, introducing world-class water entertainment facilities to create an AI-themed resort that integrates diverse experiences. Additionally, our proposal for the privatization of FTG was approved by a majority vote of FTG shareholders, allowing FTG to accelerate development with greater flexibility.

With years of accumulation and thoughtful cultivation, we have ushered in key development opportunities for the two domestic insurance companies. The total premium income of Pramerica Fosun Life Insurance surged from RMB4,346 million in 2023 to RMB9,251 million at 2024, while Fosun United Health Insurance also experienced steady growth in premium income, and both companies achieved profitability. The continuous growth of these two companies has laid a strong foundation for Fosun’s future development.

After more than 30 years of steady development, Fosun has developed strong competitive advantages across multiple sectors and has gained a profound understanding of its core capabilities. Accordingly, we will concentrate on these competitive and advantageous industries, pursuing our vision of “helping global families live in health, happiness, and wealth until the age of 121”. We will focus on “deep mining”, which involves prioritizing the development of our core industries, including health, tourism and culture, consumption, and insurance, thereby achieving stable profit growth in the long run.

Combining global growth momentum with global resources

Fosun is both a practitioner and beneficiary of globalization. In 2024, our overseas revenue proportion further increased to 49.3%, and the number of overseas employees accounted for nearly half of the Group’s total number of employees. In the past, we proposed combining China’s growth momentum with global resources. Now, I believe we should integrate global growth momentum with global resources, along with China’s competitiveness. We should fully mobilize our unique advantages in efficiency, innovation, resources, and costs, and combine them with global networks and capabilities.

In terms of global expansion, all our segments achieved new breakthroughs. In health business, Fosun Pharma has evolved from adopting a “product export model” to establishing global operational capabilities that encompass the “comprehensive internationalization of research, manufacturing, and sales”. Henlius has made significant strides in global market expansion. Taking the independently developed monoclonal antibody HANQUYOU as an example, it was approved for marketing in more than 50 countries and regions, and in 2024, it further expanded its commercial supply to the North American market. In insurance business, Fosun Insurance Portugal fully leveraged Fosun’s “global organization + local operations” capabilities, with gross written premiums reaching approximately EUR6,172 million in 2024. Through overseas expansion, the proportion of Fosun Insurance Portugal’s international business increased from less than 5% in 2014 to 29.8%. In cultural business, the Yuyuan Garden Lantern Festival celebrated its 30th anniversary and once again gained widespread popularity during the Year of the Snake edition, significantly driving overall consumption in the Yuyuan Garden commercial district during the Spring Festival. Following its successful overseas debut in Paris, France in 2023, the Yuyuan Garden Lantern Festival has embarked on another overseas journey in 2025. In January 2025, the Yuyuan Garden Lantern Festival themed lantern installation made a stunning appearance in Hanoi, Vietnam, commemorating the 75th anniversary of the establishment of diplomatic relations between China and Vietnam. This year, it will also be featured in Thailand, continuing to showcase the charm of oriental culture globally. In resources and energy business, Hainan Mining continued its international expansion, focusing on strategic resources. It successively acquired oil interests in Oman and proposed to acquire zirconium-titanium mine projects in Mozambique, thereby expanding its oil and gas business, enriching its strategic metal reserves, and broadening its profit channels.

Driving long-term development with innovation

We fully recognize that in today’s fiercely competitive market, mere extensive and repetitive development is no longer adequate to overcome challenges and may easily result in the pitfalls of involution. We must enhance our competitiveness by developing core technologies through innovation to drive long-term development. Accordingly, Fosun firmly positions technology innovation as its strategic core. In 2024, the Group’s total investment in technology innovation[1] reached approximately RMB6.9 billion. We have established more than 20 global technology innovation centers covering various industries and fields, continuously fostering the launch of new technologies and products.

As time passes, our innovative achievements have evolved and undergone qualitative transformations. As one of the first Hong Kong-listed “18A” pharmaceutical companies which turned to profit through product sales, Henlius built on its initial profit in 2023 and maintained strong growth in 2024. It successfully achieved sustained profitability with a net profit of RMB820 million, representing a year-on-year increase of 50.3%. In early 2025, its core product, HANSIZHUANG (European trade name: Hetronifly®), an anti-PD-1 monoclonal antibody, was approved for marketing in the European Union. This milestone makes it the first and only PD-1 innovative drug approved for the first-line treatment of extensive-stage small cell lung cancer (ES-SCLC) in the European Union. In addition, Intuitive Fosun’s Ion Robotic Bronchoscopy (“Ion System“) was launched in China, enabling more lung cancer patients to achieve early diagnosis and treatment in a minimally invasive manner. Furthermore, the high-end tourist train “Silk Road Express” officially commenced operations, making it the first international luxury sightseeing train in China and filling the gap in the domestic market.

Last year, I shared our perspectives on the artificial intelligence (AI) era, and we were envisioning its potential. This year, the application of AI has rapidly infiltrated various aspects of our lives, developing at a pace that far exceeds our expectation. Fosun’s approach to AI is not to develop a large model by ourselves, but rather to deeply integrate AI technology into our diverse scenarios to drive innovation and enhance efficiency. For instance, Fosun Pharma launched the PharmAID decision intelligence platform, which integrates information extraction, patent insights, business forecasting, and more. With data updated at T+1, it supports accurate and efficient decision-making to accelerate and improve the drug R&D. Sisram is also exploring the use of AI for precise skin analysis and personalized skin care solutions. The ULTRAMED Hainan project is set to create the world’s first AI-themed resort by utilizing AIGC technology for guest room customization. It will also introduce the digital human G.O (Gentle Organizer) service to enhance tourist experience. Regarding corporate operations and management, I encourage Fosuners to consider how to fully integrate AI into daily work comprehensively for more precise decision support and strategic assessments.

Harnessing the flywheels of “insurance + industry + investment”, leveraging operational capabilities to implement the asset-light strategy

To achieve more effective resource allocation and drive sustainable value growth, we have integrated Fosun’s profound industry expertise, extensive investment experience, and high-quality commercial resources with the operations and investments of insurance companies, forming a three-dimensional “insurance + industry + investment” flywheel-driven strategy. The collaborative growth of domestic and international insurance companies and Fosun’s various industries has laid a strong foundation for the “insurance + industry + investment” flywheel-driven strategy that we have always advocated.

At the same time, Fosun’s unique ecosystem synergy model further amplifies the flywheel effect. In 2024, we successfully implemented the “health care + insurance” ecosystem policy model, with 14,000 community health care policies sold, totaling premiums of RMB12.85 billion. Fosun Care achieved profitability for the first time, laying a solid foundation for flywheel development.

As part of our strategic direction, we made significant progress in asset-light operations in 2024. Fosun Pharma together with the Shenzhen Guidance Fund and other investors established a RMB5.0 billion biopharmaceutical industry fund to jointly promote the high-quality development of the pharmaceutical and healthcare industry in the Greater Bay Area. In addition, FTG’s Taicang Alps Resort Phase II project, Jinsha Bay project in Dapeng New District, Shenzhen, and other projects were signed and commenced in 2024. Objectively, given the current market environment, heavy asset investments using our core capital do not yield returns that align with capital costs. However, low-cost funds, including those from insurance, inherently require heavy asset allocations. Therefore, to bolster our asset-light operations, it is essential to strengthen cooperation with insurance institutions and others, empowering our investment and operational capabilities.

Healthy financial position, “Contribution to Society” through ESG initiatives

We adhere to a prudent financial management strategy, continuously optimizing our capital structure and financing channels to gain the trust of capital markets. During 2024, Fosun repaid a total of RMB11.1 billion equivalent matured public bonds in onshore and offshore markets. We sincerely thank both domestic and international investors, as well as financial institutions, for their continuous recognition over the years. During 2024, we successfully issued USD300 million offshore bonds and obtained a sustainability-linked syndicated loan. Looking ahead, we will continue to capitalize on favorable interest rates through meticulous management and prudent leverage control. We will remain focused on divesting non-core and non-strategic assets, reducing the Group’s interest-bearing debts, and strengthening our resilience to economic cycles, striving to attain “investment grade” ratings at the earliest opportunity.

Fosun remains steadfast in its commitment to “Self-improvement, Teamwork, Performance, and Contribution to Society” and “Developing Business for Good”. In 2024, we officially launched the “Create IMPACT” sustainable development strategy to closely integrate commercial value with social value. The “Rural Doctors Program” initiated by Fosun Foundation was recognized as an excellent case for sustainable development practice by the United Nations, serving as a model for enhancing primary healthcare and showcasing the international impact of Fosun’s philanthropic efforts. Fosun Pharma has supplied a cumulative total of over 400 million doses of Artesun® (artesunate for injection) to the global market, saving more than 80 million severe malaria patients worldwide. Our sustainable development practices have also received recognition from international authorities, with an MSCI ESG rating maintained at AA for four consecutive years. In the future, we will continue to advance the “Create IMPACT” strategy and actively contribute to global sustainable development.

Looking ahead to 2025, despite still facing certain pressures, we have begun to see signs of recovery in the broader market, and our results have reflected this trend. During the Spring Festival, Atlantis Sanya achieved an outstanding occupancy rate of over 98%; Tuopai T68 baijiu recorded an 80% year-on-year increase in sales revenue, thanks to its superior price-to-quality proposition; our Club Med winter resorts in China and Hokkaido, Japan continued to experience strong demand throughout the peak season. These achievements reinforce our great confidence in future development.

We extend our heartfelt gratitude to our shareholders for your unwavering understanding and support over the past year. We are well-prepared to tackle challenges and pursue progress through “strategic advancements and exits”, while continuing to deepen our development in core industries. We are confident in our ability to maintain steady development, create long-term value for our shareholders, and contribute to healthier, happier, and wealthier lives for families worldwide.

Guo Guangchang
30 March 2025

[1] It includes scientific research investment (expensed and capitalized) but excludes digitalization expenses.