FOSUY - Fosun International Limited (FOSUF) Q4 2023 Earnings Call Transcript
2024-03-28 06:03:04 ET
Fosun International Limited (FOSUF)
Q4 2023 Earnings Conference Call
March 27, 2024, 10:00 PM ET
Company Participants
Sun Lu - GM, IR Department
Guo Guangchang - Chairman
Gong Ping - Executive Director, Executive President and CFO
Xu Xiaoliang - Executive Director and Co-CEO
Chen Qiyu - Executive Director and Co-CEO
Wang Qunbin - Executive Director and Co-Chairman
Conference Call Participants
Cao Ying - Essence International
Presentation
Sun Lu
Investors and Analysts, good morning. Welcome to 2023 Financial Annual Results of Fosun International. I am the General Manager of Investor Relations Department, Sun Lu. Let me introduce you to the management team of Fosun International, Chairman of Fosun International, Mr. Guo Guangchang; Executive Director and Co-Chairman of Fosun International, Wang Qunbin; Executive Director and Co-CEO of Fosun International, Mr. Xu Xiaoliang; Executive Director and Co-CEO of Fosun International, Mr. Chen Qiyu; and Executive Director, Executive President and CFO of Fosun International, Mr. Gong Ping.
So today, we have morning and afternoon sessions. In the morning, Fosun International management team will present 2023 annual results and strategy. In the afternoon sessions, the heads of four segments and the management team will present you the annual results of different segments. In 2023, we have been focusing on core businesses and achieved steady progress.
First, let me give the floor to CFO of Fosun International, Mr. Gong Ping to talk about financials.
Gong Ping
Distinguished investors online and offline, welcome to 2023 Fosun International annual results meeting. So let me present you 2023 financials.
In 2023, we have been facing many uncertainties and challenges. However, we are moving steady and also we have continued our revenue growth. Our total revenue was RMB198.2 billion, up by 8.6% Y-o-Y. Our industrial operation profit was RMB4.9 billion, up by 20% Y-o-Y, excluding impacts of discontinued businesses. The profit attributable to owners of the parents was RMB1.38 billion, and the increase was great. Overseas revenue was RMB89.2 billion accounts for 45% of total revenue. I will elaborate later that our overseas businesses has been a great support to the Group.
We have been keeping in making investments in technology and innovation standing at RMB7.4 billion, up by 14% Y-o-Y. Newly registered members in 2023 was 37 million. In 2023, the number of consumer members reached to 14.58 million. And also, we are very happy to see that our -- for this resilience business portfolio composed of four segments including Health, Happiness, and Wealth Intelligent Manufacturing. Especially in 2023, the Happiness revenue has seen a great growth up by 25.7% and Wealth segment stays stable, and also, we have seen great growth from Intelligent Manufacturing BG. Although we have seen a little bit down from the House segment, however, we -- in total, together combined of them, we still see a resilient business portfolio. So these four core subsidiaries has been our solid bedrock and also four core subsidiaries has achieved great results.
Yuyuan's revenue was up by 15.8% and Fosun Pharma was down by 5.8% Y-o-Y. FTG was up by 24.5% Y-o-Y standing at RMB17.15 billion. Four core subsidiaries contributed 72% of total revenue. And also, we have keeping optimizing our balance sheet. Our public markets financing, standing at RMB19.86 billion. Cash, bank balances and term deposits was RMB92.46 billion...
Fosun International Limited (FOSUF) Q4 2023 Earnings Call Transcript