The Zhitong Finance App learned that on July 29, Fosun International (00656) issued a positive profit forecast. Fosun International's profit attributable to shareholders of the parent company in the first half of 2026 is expected to be about RMB 1.5 billion to RMB 1.8 billion, an increase of about 127% to 172% over the same period last year. The board of directors believes that this increase is mainly due to the strong resilience of the core industry in the first half of 2026, the steady improvement in operating quality, and the significant increase in industrial operating profit compared to the same period last year.
Previously, the market generally predicted that Fosun International's performance is expected to rebound rapidly after implementing a one-time non-cash impairment charge on real estate and some non-core businesses in fiscal year 2025 and completing “roof repair on a clear day”.
In response, market analysts pointed out that by continuing to advance the “slimming and fitness, focus on the main business” strategy, Fosun has withdrawn from non-core assets in an orderly manner on the one hand, and strengthened investment and operation in core industries, creating a foundation for healthy development for performance recovery and long-term profit delivery. “Obviously, Fosun has now successfully entered the verification period for performance recovery, and the subsequent performance of core businesses such as healthcare, insurance and finance, and cultural tourism consumption is worth looking forward to.”
Pharmaceuticals and insurance have entered a continuous and stable performance delivery period
Judging from the performance of the first half of 2026, pharmaceuticals and insurance are the two major ballast stones of Fosun International's performance. The former's market expectations continue to be fulfilled, while the latter provided strong support for Fosun's stable cash flow. Analysts believe that both should be the core driving force for Fosun's performance “Yingxi” in the first half of 2026.
“Although this announcement did not disclose detailed growth data for Fosun's core industry sectors, it can already be seen from the first-quarter results of its subsidiaries that the certainty of growth in pharmaceuticals and insurance continues to increase.” The above sources further pointed out.
According to the data, Fosun Pharmaceuticals, a core subsidiary of Fosun's health sector, achieved operating income of 10.073 billion yuan in the first quarter of 2026, up 6.93% year on year, and net profit to mother of 871 million yuan, up 13.87% year on year; excluding recurring profit and loss, net profit to mother increased by 21.96% year on year.
Compared to financial data, what surprised the market was that after entering 2026, Fosun's transformation into innovative drugs is accelerating. In the first quarter, Fosun Pharmaceuticals accepted a total of 4 innovative drug marketing applications, and 14 clinical trial applications for innovative drugs (according to the number of approved cases) were approved by domestic and foreign regulators.
It is worth mentioning that in June of this year, the anti-PD-1 monoclonal antibody H drug independently developed by Fu Hong Hanlin was officially approved by the State Drug Administration. It became the world's first and only anti-PD-1 monoclonal antibody approved for perioperative treatment of gastric cancer, filling the gap in clinical treatment in this field. This is also the world's first perioperative “dechemotherapy” program for gastric cancer. Subsequently, Hans was approved by the European Commission (EC) for first-line treatment of adult patients with locally advanced or metastatic squamous non-small cell lung cancer (SqnsCLC) that cannot be surgically resected.
The pharmaceutical industry believes that, represented by H Pharmaceuticals and HLX43 and HLX22, which have continuously achieved innovative breakthroughs, Fosun's innovation pipeline has entered a period of intensive approval and commercialization, forming a positive cycle of R&D investment and market returns.
Some market analysts have bluntly pointed out that innovative drugs are “making future money” for Fosun, while insurance is “making current money” for Fosun. Therefore, insurance is one of Fosun's most important profit bases, and its performance has always been an important window for the market to observe Fosun.
Take Fosun Portugal Insurance, a core subsidiary of Fosun's rich sector, as an example. Net profit returned to mother reached 201 million euros in 2025, an increase of more than 15% over the previous year. In the first half of 2026, Fosun Portugal's insurance premium income maintained a strong growth trend, and both domestic and overseas businesses in Portugal achieved double-digit growth.
Looking at domestic insurance companies, in the first half of 2026, Fosun Prudential Life achieved net profit of 786 million yuan, exceeding the net profit level for the full year of 2025.
Consumption, cultural tourism, and intelligent manufacturing resonate to strongly unleash growth potential
In addition to medicine and insurance, Fosun's performance in the consumer, cultural tourism circuit, and intelligent manufacturing sectors is also paying close attention to the market.
On the consumer circuit, Yuyuan Co., Ltd., which had previously been affected by real estate depreciation, successfully exited the industrial adjustment period. According to the performance forecast of Yuyuan Co., Ltd., the net profit range attributable to shareholders of listed companies for the first half year of 2026 is expected to be RMB 120 million to RMB 170 million, with a year-on-year increase of 91.04% to 170.64%. The changes in performance were mainly due to the company actively promoting business transformation and innovation during the reporting period, optimizing product structure and channel quality, and improving operating efficiency and profit levels over the same period.
It is worth noting that jewelry fashion, the core business of Yuyuan Co., Ltd., is completing a spectacular transformation and achieving contrarian growth through technology, scene innovation, and “going overseas” efforts, which is expected to further unleash momentum for subsequent performance restoration.
On the cultural tourism track, Fosun Travel & Culture continued to perform well during the Spring Festival, Qingming, and May Day holidays this year, laying the foundation for the first half of the year's results. According to data, during the May 1st holiday, the number of visitors to Atlantis Sanya Resort surged 90% over the same period last year; Yunnan Lijiang Mediterranean International Resort received more than 30,000 visitors, and overall revenue increased 11% year on year; Club Med Club Med domestic resort revenue increased 6% year on year; and Alpine Snow World increased 30% year on year.
In June of this year, construction of the Begonia Performing Arts Center in Sanya, Hainan began, marking a milestone in Fosun's “Super Mediterranean” project. In the future, it will form a “double landmark” super tourist resort cluster with Atlantis Sanya. In the same month, a large-scale comprehensive development project in Fosun Clear Water Bay in Hong Kong was also officially laid. It is expected to become a new landmark in the city of Hong Kong with both a rich history and an international perspective.
Meanwhile, the performance of Fosun's intelligent manufacturing sector shows its ability to grasp the window of opportunity for new energy sources. According to the Hainan Mining Industry's performance forecast, net profit attributable to shareholders of listed companies is expected to be RMB 470 million to RMB 550 million in the first half of 2026, an increase of 68% to 96% over the first half of last year. The profit for the first half of the year has already surpassed the full year of 2025. The new energy business has become the core driving force for Hainan's mining performance growth. In the first half of 2026, a total of 70,000 tons of lithium concentrate arrived at Yangpu Port in Hainan in 3 batches, providing a strong guarantee for the continuous and stable production of lithium salt products.
In addition, Wansheng Co., Ltd. built its first overseas production base in Thailand in June of this year, and the phosphate flame retardant project was officially put into operation, providing customers around the world with more efficient and green new material solutions.
The growth certainty of core business growth is enhanced, and the path to profit recovery is clear
“As can be seen, the completion of Fosun's 'roof repair on a clear day' cleared up the barriers to future performance growth and profit restoration.” Analysts believe that although the announcement did not disclose more detailed financial data, it is believed that Fosun's debt level will continue to decline under the continuous impetus of the “slimming and fitness, focus on the main business” strategy. After the official announcement of the results for the first half of 2026, the market will have a fresh judgment on Fosun's expectations for achieving its “10 billion profit” target.
Earlier, Fosun management clearly proposed a financial target plan: strive to gradually restore the profit scale of RMB 10 billion, the group-level target is to return RMB 60 billion of capital, reduce the total debt at the group level to below RMB 60 billion, and strive to achieve an “investment grade” rating.
In fact, since the first quarter, many leading domestic and foreign brokerage firms have expressed positive views on Fosun International. Among them, Citi emphasized that based on the positive fundamentals, Fosun International's 2026 performance is expected to be strong. The company is also optimistic about its long-term development by repurchasing and increasing its holdings. Since March 30, as of July 10, Fosun International has repurchased a total of about 53.41 million shares, totaling about HK$216 million.
“Taken together, the positive results in the first half of the year were a key inflection point in improving the quality of operation of core industries since Fosun implemented the 'slimming and fitness and focus on the main business' strategy, marking that it has further completed a substantial transformation from asset optimization to industrial quality improvement.” Analysts stressed that with industrial operations as the core and innovation and globalization as growth engines, Fosun is expected to further enhance its competitiveness and enter a new period of rapid growth.