points blue words follow, don’t get lost~
On the evening of October 24, Fosun Pharmaceutical suddenly issued an announcement stating that the company received a notice from its controlling shareholder Shanghai Fosun High-Tech (Group) Co., Ltd. (hereinafter referred to as Fosun High-Tech) on the same day that it would terminate the share reduction plan in advance and promised not to reduce its shareholding in Fosun Pharmaceutical within one year.
It is worth noting that on October 24, Fosun International also issued a statement, which will terminate its commercial cooperation with Moody's on rating services with international rating agency .
Fosun Pharma: The controlling shareholder terminated the reduction plan ahead of schedule
and promised not to reduce its holdings
html within one year. The announcement on the evening of October 24 showed that according to the notice of the reduction plan on September 2 this year, Fosun High-Tech originally planned to reduce its holdings of Fosun Pharma A shares , which was no more than 3%. From September 14 to September 30, Fosun High-Tech's cumulative reduction ratio was 1.46%. Currently, Fosun High-Tech still holds 35.85% of Fosun Pharma's shares.In terms of performance, Fosun Pharma's revenue in the first half of the year reached 21.34 billion yuan, and increased by 25.88% year-on-year. The net profit attributable to shareholders was 1.547 billion yuan, a year-on-year decrease of 37.67%. The net profit attributable to shareholders of the parent was 1.862 billion yuan, an increase of 18.57% year-on-year. The latest third-quarter report is expected to be disclosed on October 31.
As of the close of October 24, Fosun Pharma A-shares were 3.079 yuan per share, with a market value of 82.2 billion yuan; H shares were 18.42 Hong Kong dollars per share, with a market value of 49.18 billion Hong Kong dollars.
This year, the stock price of Fosun system has performed poorly. Under this premise, Fosun Pharma's controlling shareholder terminated its share reduction plan early and promised not to reduce its shareholding within one year. It is also regarded by investors as a favorable move to protect and Fosun's confidence.
In fact, not only is the termination of the share reduction plan early, Fosun International is also boosting market confidence through repurchases.
On October 24, Fosun International announced on the Hong Kong Stock Exchange that it repurchased 10 million shares of the company on October 24, with a repurchase price of HK$4.61-HK$4.8, a total of HK$47.0105 million.
In addition, another information worth paying attention to is that on October 24, Fosun Group issued a statement on its official website, saying that it had officially notified Moody's on October 12, 2022 to terminate its commercial cooperation with it on rating services and to stop providing relevant information to it from the same day.
Fosun Group has been reducing its holdings recently
Since the end of 2021, Fosun Group has continuously reduced its holdings of its subsidiaries. According to incomplete statistics, the total scale of Fosun Group's reduction or cashout has exceeded 10 billion yuan since the beginning of this year.
On October 19, Fosun International issued an announcement stating that it plans to transfer 60% equity of Nanjing Nangang Iron and Steel United Co., Ltd. . The intended buyer is Shagang Group. The total transfer price is not more than RMB 16 billion. The specific amount will be further negotiated based on the due diligence results.
On October 10, Fosun High-Tech transferred 5% of its Yuyuan shares to Zhejiang Qingzhan Industrial Co., Ltd. for a price of 1.249 billion yuan.
html In late September, Yongan Property Insurance disclosed many shareholder changes announcements. After the change, the "Fosun Group"'s shareholding ratio in Yongan Property Insurance will drop from 40.68% to 14.69%, and enterprises under Shaanxi State-owned Assets will take over the transferred equity. htmlOn September 15, Xinhua Insurance announced that Fosun International, which holds 5.84% of the shares, and its joint actors have reduced their shares to 4.99%, and are no longer shareholders of the company's shares holding more than 5%. htmlOn September 2, Yuyuan Co., Ltd., a subsidiary of Fosun High-Tech, sold 313% of the shares of Jinhui Liquor, with a total transaction price of 1.937 billion yuan. htmlOn July 11, Taihe Technology announced that Fosun Chuanghong, a shareholder who originally held more than 5% of the shares, had completed the reduction plan of the shareholding, cashing out about 360 million yuan. htmlOn May 31, Fosun International announced on the Hong Kong Stock Exchange that its subsidiary agreed to sell approximately 66.8 million H shares of Qingdao Beer at a price of HK$62 per share. After the sale is completed, Fosun Group will no longer hold Qingdao Beer H shares and cash out HK$4.14 billion.In addition, from the end of 2021 to September 27 this year, after Fosun High-Tech gradually reduced its holdings, its shareholding ratio in Zhongshan Public Utilities dropped from 11.35% to 8.04%.
After many reductions, why did Fosun Group suddenly announce that it would terminate its share reduction plan early and no longer reduce its shareholding within one year?
Fosun Pharma's explanation of this announcement is extremely simple, only "after comprehensive consideration".
On September 19 this year, Fosun High-Tech issued a statement saying that the company's recent share reduction and sale is a continuation of the financial strategy of insisting on balanced investment and withdrawal. Dynamic sorting and optimizing asset portfolio is a persistent task, not just to cope with the current market environment. The complex external environment has increased public attention to the disposal of companies' assets, leading to a one-sided interpretation of individual asset disposal behaviors, while ignoring the general principle of company asset optimization, namely long-term dynamic optimization.
Editor: Ye Shuyun
Proofreading: Wang Jincheng
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