2016-6

Issue No.49 June 30, 2016
Creating More Value for Shareholders
Fosun International 2016 Annual General Meeting Held in Hong Kong
In the morning of June 1, Fosun International
Limited’s 2016 Annual General Meeting was
held at the Grand Hyatt Hong Kong. Senior
management of Fosun International attended
the meeting, including executive directors Guo
Guangchang, Liang Xinjun, Wang Qunbin, Qin
Xuetang and Xu Xiaoliang, as well as Fosun’s
independent non-executive directors Zhang
Shengman, Zhang Huaqiao and David T. Zhang
and Chief Financial Officer Robin Wang, at which
they responded to questions from the investment
community. At the general meeting, the audited
consolidated financial statements as well as the
company’s 2015 board of directors report and
auditor report were deliberated upon, and issues
including the distribution of annual dividends,
director appointment as well as senior management
remuneration incentive schemes were considered
and put to votes. Just outside the venue of the
meeting, product experience booths were set up
where shareholders could interact with Club Med
Gentil Organisateurs, savor Osborne’s delicious
Iberico Bellota Ham, and have a great understanding
of Red Collar’s personalized custom-made services,
thereby gaining some early insights into the
various premium products offered by Fosun’s
portfolio companies.
(Continued on Page 2)
China-U.S. Business Leaders Roundtable
Discussion Held in New York
Lenovo CEO Yang Yuanqin, Taikang Life Insurance Chairman Chen
Dongsheng and Fosun Group Chairman Guo Guangchang
The "China-U.S. Business Leaders Roundtable” discussion was hosted at University
Club in Midtown Manhattan by China Entrepreneurs Forum, Fosun Group, Industrial and
Commercial Bank of China on June 13, 2016. As in the past, the event featured influential
business and political leaders, including former US Secretary Treasury Henry Paulson,
former Chairman of Federal Reserve Paul Volcker as well as Dongsheng Chen, Chairman
and CEO of Taikang Life Insurance, Yuanqing Yang, Chairman of Lenovo Group,
Guangchang Guo, Chairman of Fosun Group, Peggy Yu, Chairwoman of E Commerce
China Dangdang, Qiyue Zhang, the China Consul General in New York City.
While opening with keynote speeches by Chinese entrepreneurs regarding global
investment trends and dialogue with Paulson on US-China relations, the summit has
broken into three forums. This year’s theme focuses on strengthening cooperation of
the global market. During the forum, Fosun Group’s Chairman Guo said, "For Chinese
enterprises like us who have started to globalize, we know we are rooted in China, but
meanwhile we also recognize ourselves as responsible local company when we develop in
other countries.” Thus he believes the key element of China-US cooperation is not only
commercial mutual reciprocity, but also the social responsibilities.
(Continued on Page 3)
Copyright: Any forwarding, extracting or using of the contents (including but not limited to texts, images, charts, layouts) published on Fosun Times (or the “Newspaper”) is strictly prohibited
without the express written permission of the Newspaper. In the event of infringement, the infringer shall undertake all legal obligations and the Newspaper reserves the right to pursue further legal
action(s).
Disclaimer: This Newspaper is published by Fosun Holdings 复 星 控 股 , the parent group of Fosun International Limited 復 星 國 際 有 限 公 司 (“Fosun”) for the purpose of providing relevant
information about Fosun Holdings, its directly and indirectly owned subsidiaries, affiliates, funds under its management and their related businesses (including but not limited to the information
about Fosun and its subsidiaries) and shall not be deemed as information disclosure and investment recommendation by Fosun. As such, some companies/projects mentioned in this Newspaper are
not among the listed arm of Fosun. Investors are advised to refer to Fosun’s public announcements and annual reports for all relevant information solely regarding the listed company.
02
Events
FOSUN TIMES 2016.6.30
Creating More Value for Shareholders
Fosun International 2016 Annual General Meeting Held in Hong Kong
(From Page 1)
Focusing on “Wealth,
Health and Happiness” in
Forging a Globally-Leading
Enterprise
During the Q&A session
of the Annual General
Meeting, members of the
board engaged in candid
and sincere interactions with
investors from different
regions on various issues,
including share price
performance, dividend
policies, corporate strategies
and overseas investments.
Chairman Guo Guangchang
showed his deep appreciation
to public shareholders for
their consistent concern and
support for Fosun, noting that
the corporate management
and staff members have been
engaged in steadfast efforts
as part of their commitment
to creating value for
shareholders. He also voiced
his optimism about future
progress given that the
company is now advancing
consistently on the right
track.
Guo Guangchang
commented that Fosun will
continue to focus on satisfying
the demand for “wealth,
health and happiness” of
Chinese families, with the
aim that Fosun will become
a world leader in these
three aspects. First of all the
insurance sector, as the core of
the wealth segment, represents
an important component
of Fosun’s “insurance +
investment” twin drivers, and
it is anticipated that Fosun’s
insurance business will
exhibit its own characteristics
and leading qualities and
that it will someday account
for approximately one half
of the Group’s total assets
and profits. Secondly, Fosun
will strive to support the
building of interconnectivity
amongst the healthcare,
pharmaceutical and health
insurance sectors, which
is Fosun’s most important
undertaking for the next three
to five years as it becomes a
distinctive, globally-leading
enterprise actively leveraging
interactions between health
insurance on the one
hand, and healthcare and
pharmaceutical services on the
other. Thirdly, Fosun makes
significant efforts promoting
the development of its tourism
segment, so that it will attain
strong competitiveness and a
leading position in the global
arena. The three aspects
mentioned above will become
crucial pillars underpinning
Fosun’s profit growth and
sector development.
Fosun’s Development
Aided by “Unicorn”
Strategy and “Partnership
System”
R e g a r d i n g F o s u n ’s
development strategies toward
which shareholders voiced
c o n c e r n , F o s u n G r o u p ’s
Deputy Chairman and CEO
Liang Xinjun said that in
addition to its long-standing
strategies of “Combining
China’s Growth Momentum
with Global Resources” and
“Insurance + Investment”, the
Group will fully pursue its
light asset strategy this year
in its commitment to reducing
debt ratios and enhancing its
ranking. The dedication to the
identification of “Unicorn”
projects (those associated
with an appreciation of USD
1 billion within two years)
will represent Fosun’s major
direction regarding its new
investments, and it w ill
also promote an light asset
transformation regarding
its existing assets such as
those in the tourism and
healthcare sectors. Fosun’s
net debt ratio has been
continuously declining over
the past three years, and
going forward Fosun will
continue to reduce its debts
while focusing on its organic
growth in accumulating net
assets, disposing of its assets
for liability reduction and
adjusting stock liabilities.
Regarding the “Global
Partnership” system, at the
Annual General Meeting,
executive director and
P r e s i d e n t Wa n g Q u n b i n
further elaborated to
investors the emphasis
placed on the partner model
that would contribute to
the company’s long-term
sustainable development.
Wang Qunbin explained that
the “Partnership System”
can firstly attract more
distinguished talent, aligning
their own interests with the
company’s development.
S e c o n d l y, t h e s y s t e m
accords more importance to
professional competencies and
the contribution made to the
organization, thus requiring
partners to maintain their
entrepreneurial acumen and
to have high recognition for
Fosun’s corporate culture and
values from the bottom of
their hearts. Thirdly, Fosun
will promote its partner model
at various levels, meaning
that it will be implemented
within Fosun International and
invested enterprises, as well
as in professional teams or
regional team settings. Lastly,
Fosun will leverage the internet
and artificial intelligence as
a means of trimming the size
of its front office investment
teams while forging interconnections and strengthening
its middle and back offices,
thereby further enhancing the
partnership system.
Investing Means Doing
the “Right” Thing
At the closing, Chairman
Guo Guangchang further
elaborated one of the Fosun
investments principles – “some
has to be done, but some
other things must not be”.
Guo Guangchang concluded,
a sophisticated investor must
have the courage to relinquish
investment when a given
investment turns out to have
been inadvisable, even at
the very last moment. This
is a fundamental attribution
that sophisticated investors
must possess, and is indeed
possessed by Fosun. Currently,
Fosun’s development priorities
lie in focusing on organic
growth, the integration of
intra-group resources and
the continuous refining of its
product power, as to launch
products and services that
astonish clients. This year,
Fosun Group has been making
determined efforts to establish
its core insurance wealth
management capabilities
for supporting its affiliated
insurance companies in
expansion through mergers
and consolidations, and to
achieve substantial progress
i n t h e f o rg i n g o f i n t e rconnections between health
insurance and healthcare
segments. Fosun will also
strive to grasp diversified
opportunities on customer-tomanufacturer (C2M)model,
while also utilizing mobile
internet technologies to fulfill
customer demand, thereby to
form a closed-loop ecosystem.
Guo Guangchang
Presents Stunning Moments
at Annual General Meeting
& Fosun Fair
At Fosun’s annual general
meeting, Guo Guangchang
acted as an anchor to present
stunning moments of the fairlike meeting to everybody
through a live streaming
platform.
Fosun Forum + Fosun Hong Kong Night
Gala for Entrepreneurs & Fosun’s Global Partners
At the Fosun Forum held
immediately following the
successful conclusion of the
shareholder general meeting,
various global partners from
the “wealth, health and
happiness” segments as well
as representatives of Fosun’s
portfolio companies delivered
keynote speeches regarding
their respective professional
areas to the investors.
Through the speeches, they
shared updates on Fosun
Group’s investment outcomes
and expressed their views on
various promising prospects.
Fosun Hong Kong Night
- Gala for Entrepreneurs &
Fosun’s Global Partners was
organized in the evening.
The Gala was a ‘business
+ branding’ event with the
theme of Fosun Global
Partners first ever, and linked
with the top-tier entrepreneurs
in Hong Kong. The event
aimed to create closer
connections and integrate
resources of the global
partners amongst business
partners and customers;
which is an innovative
springboard opportunity
with various aims of future
business development, global
partners program as well
as participation of leading
entrepreneurs and KOLs.
At the dinner, Mr. Peter
Wong, JP, Deputy Chairman
and Chief Executive of The
Hongkong and Shanghai
Banking Corporation Limited,
a n d D r. A l l a n Z e m a n ,
Chairman of Lan Kwai Fong
Group delivered speeches
as officiating guests, while
F o s u n ’s g l o b a l p a r t n e r s
also attended the event
to share their own stories
about pursuing growth in
cooperation with Fosun.
After the guest speeches,
several dazzling performances
that effectively brought the
partners and entrepreneurs
c l o s e r t o o n e a n o t h e r,
including an innovative
stunning St. John fashion
show with story elements,
as well as an interactive
performance by Cirque du
Soleil artists which they
presented around the tables
and interacted with the guests.
Corporate News
2016.6.30 FOSUN TIMES
03
The Story of Studio 8, Ang Lee and Fosun
‘Fosun & Studio 8 -Shanghai Night’
In the evening of June 10, which is the eve of
the opening of the Shanghai International Film
Festival, “Fosun & Studio 8-Shanghai Night” was
held in Xintiandi. Fosun Group’s Chairman Guo
Guangchang, Studio 8’s founder and CEO Jeff
Robinov, and renowned film director Ang Lee
attended the event together and jointly injected new
momentum from China into the global film arena.
Among the evening’s attendees were an array of
prominent guests, including almost all of the leading
figures of the Chinese film and television industry.
Fosun Group’s Chairman Guo Guangchang
delivered a speech at the event, noted that “Wealth,
health, and happiness are the consistent pursuits of
families around the globe. And what Fosun has to
do is to provide household customers with products
and services with the highest quality and the richest
content, offering the best one-stop solutions to
satisfy their needs. In order to fulfil this vision,
we have to get together with people with strong
craftsmanship and innovative sentiments. Jeff and his
team are exactly this kind of people. We respect their
craftsmanship, and appreciate the meticulousness
and profusion of sentiments that they demonstrate
regarding content production. That’s why we have
witnessed the stable development of Studio 8 over
the past two years. We believe that with Fosun’s
cooperation, as well as the joint efforts made by the
many friends supporting our development, including
director Ang Lee, in future we will be sure to create
awe-inspiring works with a long-lasting influence for
general audiences.”
Fosun’s introduction to Hollywood’s film industry
was not confined to content R&D and production.
“We as always are optimistic about the long-term
outlook on the cultural sector, and have performed
positioning work and layout in the industry chain.”
Maggie Huang, Fosun Group’s Managing Director
of Studio Entertainment Investment Department and
Studio 8 Director, explained that “in the film and
television production segment, our first step was to
invest in Studio 8 jointly with Sony Pictures. Studio
8’s first movie is ‘Billy Lynn’s Long Halftime Walk’
which is produced in collaboration with director
Ang Lee. The showings of which are expected
to commence on 11 November this year across
North America. In the film showing and television
broadcasting segment, we initiated and participated
in the privatization of the Bona Film Group, and
have been cooperating closely with Shanghai Film
Group Corporation.” Within the film industry, Fosun
is dedicated to building a world-class IP portfolio as
well as covering the film and television artists and
fans economy, thereby creating inter-connections
and integration amongst production, distribution,
showings, and derivative segments.
Over the next 5 to 10 years, Fosun will endeavor
to become a global pioneer in the segments of
wealth, health and happiness, committing to provide
outstanding solutions for individuals and households
around the world among these segments. The
happiness segment, of which films represent a key
component, is indeed one of Fosun’s key areas of
investment and development. Currently, Fosun is
attempting to combine China’s growth momentum
with Hollywood’s film and television industry
regime, as to build its world-class IP portfolio by the
means of ecosystem chains, thereby bringing happy
experience to users in China and around the globe.
Appearance at Shanghai International Film
Festival
Jeff Robinov, founder and CEO of Studio 8 (a
Hollywood film company that invested by Fosun
Group), together with his core team and Maggie
Huang, Fosun Group’s Managing Director of Fosun’s
Wang Qunbin, Jeff Robinov, Ang Lee and Guo Guangchang
Studio Entertainment Investment Department and
Director of Studio 8) appeared on the red carpet and
at the opening ceremony of the Film Festival.
Jeff Robinov with Studio 8’s core team
appearing on the red carpet Jeff Robinov said that he had great admiration for
director Ang Lee as early as 20 years ago. “Fifteen
years ago I gave Lee a phone call, and expressed my
intention to cooperate with him.”
Regarding his collaboration with Fosun, Jeff
Robinov noted that Studio 8 and Fosun Group
share the same vision of bringing fun to the world,
provoking people’s thinking and making people
laugh. He expressed that Fosun is similar to Buffett’s
Berkshire Hathaway in that it has trustworthy
management: “I have been working in film production
for 35 years. What I am looking for is not someone
who is more capable than me in production, but a
partner for strategic cooperation who trusts us, trusts
our company’s vision, has abundant resources at
its disposal, and who will be able to assist with our
corporate development. To this end, Fosun Group is
the perfect match for Studio 8.” Jeff Robinov also
revealed that Studio 8 might choose to establish
its China office in Shanghai. “I am actually very
interested in Chinese culture, and I am now looking
for some traditional Chinese stories that come with
action elements and visual effects. It’s been a pleasure
to be able to meet with so many people in the film
industry here in Shanghai. I am ready to get to know
more about this city and to exchange ideas with more
professional industry practitioners.” Studio 8’s current
objective is to release six movies globally per year,
and its wholly self-financed film The Solutrean will be
brought to cinemas in September 2017.
A film production company led by professional
film industry practitioners, Studio 8 is committed to
the development and production of premium movies
with both rich commercial elements and unique
visual experiences through long-term collaboration
with distinguished talent in the sector. Studio 8 is
jointly invested by Fosun Group and Sony Pictures,
with the objective of releasing six movies globally
per year. It has now raised USD 1 billion capital,
and its latest works include The Solutrean whose
production has just been completed, and Billy Lynn’s
Long Halftime Walk, which jointly produced through
the collaboration between director Ang Lee and
Sony’s TriStar Pictures, that will be shown in North
America on November 11, 2016.
China-U.S. Business Leaders Roundtable
Discussion Held in New York
(From Page 1)
The later forums are dedicated to finance,
healthcare and consumer product industries. In the
happiness and lifestyle sector discussion, Frank
Del Rio, the CEO and President of Norwegian
Cruise Line, shared his experience of establishing a
hospitality enterprise: As an immigrant from Cuba
to the United States, he created his own cruise
company Oceania Cruises with limited initial capital
and worked as the CEO and President of Norwegian
Cruise Line in 2015. He pointed out the necessity
of using unique characteristics to build a new
brand. “For an entrepreneur, it either innovates or
evaporates,” he said. “I believe this also is the core
motivation for all entrepreneurs to self-renew and do
breakthrough.”
Chinese entrepreneurs and the US counterparts
shared the confidence and self-thriving power as they
continue to challenge themselves and explore new
fields. At the dinner, Guo suggsted, "People need
to understand and give support for the evolving of
companies." Only by this can we give more space for
potential future leaders to grow.
At the sixth "New York Fosun Night", Fosun has
been emphasizing not only "Combining China’s
growth momentum with the global resources",
but also showcasing its CSR motto “Combining
economic benefits with social impact”. It invited
famous soprano Monica Yunus, who is also the
founder of Sing for Hope, New York City’s largest
recurring public arts project for performance. The
collection of pianos by Sing for Hope has been
lovingly hand-painted by local and international
artists, has been assembled on 28 Liberty Plaza, a
landmark building bought by Fosun Group in 2013
a week ago. All New Yorkers nowadays play and
enjoy the pianos at all five boroughs in the city.
This vividly explains as Chinese companies
expand in the US, they have taken the responsibilities
to pay back to the local communities. Fosun
also has been actively built bridge for China-US
communication, cooperation and collaborations. This
forum is the successful outcome of all these efforts.
04
CSR
FOSUN TIMES 2016.6.30
Fosun Supports Protechting Winning Team
Roadshow in Shanghai
■
2
■
1
■
1 Ectosense and Lifesymb visiting Aliba’s headquarters
■
2 The winning teams were received by CEO Liang Xinjun in Fosun’s headquarters
■
3 Ectosense and Lifesymb with President Wang Qunbin after their pitch in InnoStar
The most desired moment
of Protechting, the accelerator
startups competition of Fosun
and Fidelidade, program
has arrived. From June 13
to June 18 the two winning
startups, Ectosense and
Lifesymb, had the chance
to experience the Chinese
business reality and take
proposals to famous Chinese
VC investors.
The week started in
F o s u n ’s h e a d q u a r t e r s
where the two teams were
w e l c o m e d b y F o s u n ’s
C E O , M r. L i a n g , w h o
highlighted that Fosun itself
was born as a startup and
is now a global company.
CEO Liang explained that
entrepreneurship is a keyword in the company that
aims to support the young
generation in what concerns
the development of their
business. The visit to Fosun
was impressive for the
startups, not only to have
a better understanding of
the values and dimension
of the group but also to
establish a first contact with
F o s u n ’s b u s i n e s s t e a m .
The first day ended with a
small introduction to Taichi,
having the opportunity to
try some movements of the
Chinese combat art.
The following days of the
roadshow were dedicated
to the Chinese startups
ecosystem. The teams had
the opportunity to visit
Chinese incubators and
Alibaba headquarters, where
they got the chance to get in
touch with local startups and
to share their experience.
The start-up teams also
v i s i t e d F o s u n P h a r m a ’s
headquarters and had the
chance to present their
business to Fosun Pharma’s
executives. In the afternoon,
the startups were received at
United Health Hospital and
appreciate the wonderful
conditions of the private
hospital.
The last day of the
Roadshow was the most
interesting moment of the
whole week. Ectosense
and Lifesymb had the
chance to participate in
■
3
Fosun’s Global Startups
C o m p e t i t i o n , I n n o S t a r,
where they pitched
against several local and
international startups.
Unfortunately they didn’t
win the main prize but
they will never forget that
experience that allowed
them to make wonderful
contacts with many Chinese
investors.
Protechting’s roadshow
provides different
experiences that will be for
sure a great contribution
for the development of
Ecstosense and Lifesymb
and their entrance in the
Chinese market.
A China Immersion of Startups
Bart Van Pee, CEO and Founder of Ectosense
For Ectosense, the
Fidelidade (Portugal) and
Fosun sponsored accelerator
ended with a very pleasant
outlook: an invitation by
the Fosun management to
come and experience China
and see if business can be
established there.
After an eventful trip from
Beijing to Shanghai – three
consecutive flights were
cancelled, a problem apparently
not uncommon in China – we
quickly realized upon arrival in
Shanghai what attracts so many
foreign businesses to China: it’s
sheer size!
But the bigger numbers
were not the only reason for
us to look forward to the trip:
we’re also raising money
a n d C h i n a ’s i n n o v a t i o n
ecosystems are booming,
as was made clear during
our trips to incubators in
Shanghai and Guangzhou,
where we concluded the
day with a visit of Alibaba’s
head quarters. Coming from
continental Europe, it’s clear
why Asia’s future is rosy:
it’s the people’s forwardlooking drive for constant
learning and improvement,
something which stands in
stark contrast in Europe where
the removal of perks fueled by
unsustainable yet long-lived
generous policies is resulting
in a widespread backward
looking state of depression.
Another reason for us to
think of entering the Chinese
market is our founders’
believe that if we are ever to
become globally competitive,
we should be able to win in
the most competitive markets
in the world, and China is
increasingly reaching for the
top ranking.
Many people, whether its
expats here in China or people
back at home, don’t believe
that anything like an entry of
a foreign technology startup in China is possible. True
– it will certainly take some
time to adapt to local ways of
conducting business and the
language barrier isn’t helping
either, but with Fosun and its
Ectosense during the visit to a Chinese incubator(Bart Van Pee on the right)
partner companies, we will
try to prove that such thinking
is narrow-minded. Over the
course of the week, we have
come to understand that Fosun
is different from many of its
large Chinese counterparts.
The company values a constant
search for opportunities to
improve and expand amongst
its employees and partners.
It’s wide reach combined
with an openness and genuine
interest for innovation makes
it the ideal partner to talk to.
The InnoStar roadshow – an
event where a select group of
startups was able to reach a
wide group of investors at the
beautiful campus of CEIBS
– is one such clear example
of commitment to fostering
global competitiveness
while strengthening local
ecosystems. The event proved
very fruitful for our venture,
with at least a handful strong
leads to follow-up on during
another week of presence in
Shanghai. Hopefully, we get to
extend our stay!
CSR
2016.6.30 FOSUN TIMES
05
Sing For Hope Pianos To Celebrate Fifth Anniversary
New York City’s Largest Annual Public Art Program
To Unveil 50 Pianos on 28 Liberty Plaza on June 6th
NEW YORK – APRIL 28, 2016
—Sing for Hope will celebrate the
fifth anniversary of its legendary
community arts program, The Sing
for Hope Pianos, with a launch event
at the iconic 28 Liberty Plaza on
June 6th. To date, the Sing for Hope
Pianos program has placed 286 public
instruments throughout New York
City, making the city host to more
street pianos than any other in the
world.
E a c h y e a r, S i n g f o r H o p e
selects local and international
artists to create pianos that are placed
in parks and other public spaces
for two weeks during the summer.
Anyone and everyone is invited to
play. This year, through a special
partnership with the New York City
Department of Education, Sing for
Hope will then place all of the Sing
for Hope Pianos in permanent homes
in NYC public schools, benefiting
thousands of New York City school
children. One piano, designed by
Eric and Jessie James Decker, will
be donated to one of the New Yorkarea veterans' care centers where Sing
for Hope provides year-round arts
programming.
An icon of Lower Manhattan,
2 8 L i b e r t y, a F o s u n P r o p e r t y
Holdings building, has provided
a full 34,000-square-foot floor to
serve as a communal studio for the
artists designing the pianos. The 50
completed Sing for Hope Pianos
will be unveiled on the 28 Liberty
Plaza on June 6 in an event featuring
singer and actress Lea Salonga,
along with student musicians from
Sing for Hope’s programs. One of
the completed Sing for Hope Pianos
will remain on the 28 Liberty Plaza
for public use from June 9th to June
19th, while the other pianos will
be available for use in other public
spaces throughout the five boroughs.
“It is an honor to support Sing
For Hope as it fulfills its mission
to provide arts resources and
programming to underserved
neighborhoods in New York City,”
s a i d B o We i , c h i e f e x e c u t i v e
representative of Fosun Group
in the U.S. and Vice President of
Fosun Property Holdings. “Our
collaboration with Sing For Hope and
other arts organizations will ensure
that 28 Liberty will continue to play
a vital role in the culture of Lower
Manhattan.”
“From the South Bronx and the
Rockaways to Staten Island and
Times Square, the Sing for Hope
Pianos have become synonymous
with summertime in New York City.
We are thrilled to bring these pianos
to life at 28 Liberty as we prepare
to fill our city with music, art, and
community for a fifth year,” said Sing
for Hope Co-Founders Monica Yunus
and Camille Zamora. A special Sing
for Hope app, generously provided by
Culture Craver, will be available for
free and will allow New Yorkers to
track and enjoy the pianos throughout
the five boroughs.
As in previous years, celebrities
will also contribute their energy,
talent and time to design the 2016
Sing for Hope Pianos, including
singer Jessie James Decker and her
husband, Eric Decker of the New
York Jets, and haute couture fashion
designer Georges Chakra. Artists
and celebrities who have previously
donated their time and talent to
create Sing for Hope Pianos include
fashion designers John Varvatos,
Isaac Mizrahi, Kate Spade, and Diane
Von Furstenberg; visual artists Julian
Schnabel and Scott Taylor; and media
mogul Arianna Huffington.
F os un has made a long-term
commitment to 28 Liberty and
to the surrounding community.
Since acquiring the property
in December 2013, Fosun has
initiated a renovation program,
including the lobby, elevators, and
critical infrastructure. Fosun, in
collaboration with the Downtown
Alliance, has initiated free Wifi
service for the convenience of
visitors to the building’s plaza. Other
community initiatives have included
the Dine Around Downtown food
festival and the River to River arts
festival.
Originally One Chase Manhattan
Plaza, 28 Liberty was designed by
renowned architect Gordon Bunshaft,
and was once the headquarters of
Chase Manhattan Bank. In 1961,
David Rockefeller, as head of the
bank’s building committee, selected
the site and oversaw its construction.
Given its historical significance,
architectural uniqueness and public
impact, One Chase Manhattan
Plaza was designated as a landmark
by the New York City Landmarks
Preservation Commission in 2009.
This historically significant building
is situated within the heart of the
Wa l l S t r e e t F i n a n c i a l D i s t r i c t ,
with modern amenities and direct
connection to six subway lines,
providing convenient access to
public transportation.
Funding for the Sing for Hope
Pianos is provided in part by
Sing for Hope’s ​F ounders’ Circle,​
including ​T he Arnhold Foundation​
in loving memory of Sissy Arnhold,​
The Anna-Maria & Stephen Kellen
Foundation​, and Ann Ziff​.
About Sing For Hope
Sing for Hope transforms lives
t h r o u g h o u t N e w Yo r k C i t y b y
bringing the power of the arts to
those who need it most. Through
the volunteer service of dedicated
artists—opera singers, jazz
musicians, dancers, puppeteers,
painters, and more—Sing for Hope
provides dynamic arts outreach
programming to under-resourced
communities across NYC. Sing
f o r H o p e ’s p r o g r a m s i n c l u d e
collaborative concerts for hospital
patients, after-school arts classes
for NYC youth, and its flagship
public art initiative: The Sing for
Hope Pianos. A celebration of
Sing for Hope’s vision of art for
all, this beloved public art project
reaches an estimated 2 million New
Yorkers and visitors every year.
Sing for Hope is defined by the
volunteerism of artists, the needs
of the community, and the belief in
the power of the arts to uplift, unite,
and transform. Founded in 2006,
Sing for Hope is a registered 501(c)
(3) non-profit organization. More
information can be found at www.
SingforHope.org.
Stephon Marbury Joins with United Family Charitable Fund
Philanthropy to Ensure a Healthy Growth for Our Children UFCH-Marbury Rehab Program
“As an athlete, you always want
to perform better. You relish the joy
of victory, but also have to bear the
frustration of failure. Faced with
the mistrust of others and your own
self-denial, more often than not you
actually have to triumph over yourself
instead of your opponents. Right
beside you and me, there is a group
of children who have had to cope
with defects in their bodily functions
ever since their birth. Every day, they
have to triumph over themselves in
order to overcome their physical and
psychological hindrances and to stand
staunch in the face of adversity.
In June 2015, the United Family
Charitable Fund, the philanthropic
arm of United Family Healthcare
announced a partnership with famous
basketball star, Stephon Marbury, to
found the United Family-Marbury
Program for Youth Rehabilitation.
The Program intends to raise public
awareness about the benefits of
rehabilitative healthcare, especially
juvenile rehabilitation, which will
help give children the opportunity
for a better life. To-date nearly 30
pediatric patients have received free
rehabilitation treatment at Beijing
United Family Rehabilitation
Hospital.
On June 1, 2016, the International
Children’s Day, a charity video clip
was released featuring Marbury
together with some children to call
upon more people to participate
in youth rehabilitation programs,
thereby bringing both power and hope
to less fortunate children.
United Family-Marbury
Program for Youth Rehabilitation
Jointly founded by the United
Family Charitable Fund and famous
basketball star Stephon Marbury, the
United Family-Marbury Program for
Youth Rehabilitation is a charitable
program dedicated to rehabilitation
treatment for children and young
adult. The Program aims at enhancing
the general public’s understanding
of the importance of rehabilitation
healthcare and offering assistance
to more children who are in need
of rehabilitation treatment, thereby
enabling them to enjoy a better,
healthier future with enhanced
quality of life through rehabilitation
treatment and support.
06
FOSUN TIMES 2016.6.30
Corporate News
Club Med Partners with Yuyuan
Shanghai The Night of Top High:
Tourist Mart to Launch Hokkaido Fosun Supports China’s Largest
Club Med TOMAMU Resort
Artist Management Company
On June 20, signing ceremony
of cooperation and partnership
agreement between Club Med and
Yuyuan Tourist Mart and press
conference for Hokkaido Club
Med Tomamu Resort were held
at Beaufort Terrace at Shanghai
Yuyuan Commercial Town. At the
scene of the signing ceremony,
C l u b M e d a n d Yu y u a n To u r i s t
Mart jointly announced that that
the Hokkaido TOMAMU resort
zone has been officially confirmed
as the location for establishing
Club Med TOMA MU, the first
resort established by Club Med
in Japan. Club Med TOMAMU
will be a resort with Exclusive
Collection 5T Luxury Spaces
Concept, which is expected to
commence operations in the ski
season of 2017.
F o s u n G r o u p ’s C h a i r m a n
Guo Guangchang shared his
own vacation experiences at
the TOMAMU Resort and
Club Med resorts around the
world. Fosun has been assisting
international premium brands to
search for suitable development
opportunities, which TOMAMU
Resort is indeed a good example
that demonstrates the integration
of multifaceted premium industries
and resources as well as a sharing
of opportunities and advantages.
uSens Secures $20 Million in Series A
Funding to Advance Mobile ARVR Tracking
Capital infusion boosts growth
of Augmented and Virtual Reality
technology provider
SAN JOSE, Calif., June 1, 2016
– uSens, Inc., an ARVR pioneer in
developing natural hand-and-head
tracking technologies for Augmented
and Virtual Reality, announced a $20
million Series A funding round led
by Fosun Kinzon Capital. This new
investment will help uSens launch
in 2016 its trailblazing, inside-out
26DOF (degrees of freedom) hand
tracking and 6DOF head tracking
tools. uSens enables developers to
create the most naturally interactive,
mobile ARVR experiences without
relying on wired controllers or
cumbersome peripherals. The
company’s technology is being
demonstrated live this week at the
Augmented World Expo (AWE).
Additional participants in the
Series A round include returning
investor Maison Capital, joined by
new investors Great Capital, Fortune
Capital, Oriental Fortune Capital,
iResearch Capital, and Chord
Capital. ARM Innovation Ecosystem
Accelerator also participated in this
round with their funding, service and
resources.
“Tracking is critical to ARVR
experiences,” said Anli He, CEO
and co-founder of uSens. “As ARVR
display technologies approach mass
adoption, we’re excited to bring
great interactive solutions to help
ARVR platforms, hardware makers,
and especially content developers
overcome the complicated challenges
of hand and position tracking. This
funding round is further validation
that we’re on the right path to
bring compelling natural tracking
technologies to augmented and
virtual reality.”
uSens’ cutting-edge, inside-out
26DOF hand tracking and 6DOF
head tracking leverages machine
learning and computer vision
techniques. With the world’s first
On June 13, FWS held the “The
Night of Top High” wine reception
at Shook! Restaurant located at The
Bund #19. At the event, apart from
releasing details regarding the first
round of financing, FWS’s General
Manager Zhou Yanxi announced the
establishment of Xitian Pictures, a
wholly-owned subsidiary of FWS.
As a distinguished guest of the
occasion, one of the Fosun’s founders
Liang Xinjun delivered a speech
highlighting his positive view on the
long-term development towards the
film and television industry. Liang
said, “The film and television industry
can bring joy and happiness, as well
as spiritual enrichment. I believe, this
is exactly what makes the film and
television industry so appealing, and
that seems to be the specific reason
for my optimistic heart in this sector.”
Established in 2009, FWS is
currently the largest artist management
company in China, encompassing
artist management, script creation,
film and television production,
advertising placement and public
relations. FWS is now in partnership
with nearly 30 first-tier and secondtier artists including Wu Xiubo, Zhang
Xinyi, Wang Qianyuan, Lin Yongjian
and Zhang Tian’ai. FWS engaged in
the all-encompassing planning and
execution in films and television
productions, while facilitating
nationwide commercial cooperation.
In April 2016, FWS received
investments from Fosun’s affiliated
company Shanghai Fuyi Media
Co.,Ltd., which became its second
largest shareholder, while both
Beijing Enlight Media Co., Ltd and
Zhejiang Huace Film & TV Co. Ltd.
acted as co-investors of this round of
financing towards FWS.
26DOF mobile hand tracking,
uSens’ solution replaces the need
for peripheral devices such as game
controllers or outside cameras. The
integrated experience of natural hand
and head tracking, as well as the
combination of AR and VR creates
a new standard of reality the uSens
team refers to as Super Reality.
“ F o r A RV R t o a c h i e v e i t s
potential, natural head and hand
tracking is required,” said Donghui
Pan, chairman and president of
Fosun Kinzon Capital. “It’s clear
that ARVR is an explosive market.
Already consumers want a more
immersive experience, and hand
controllers simply aren’t the
solution. We’ve chosen to invest in
uSens, because we’re confident the
company has the deepest expertise
and vision to provide this key that
will help unlock mass-market ARVR
adoption.”
“uSens has made tremendous
progress in developing technology
that empowers users to transit
seamlessly from AR to VR to ARVR,
which is why we’ve renewed our
support,” said Wenli Cui, founding
partner of Maison Capital. “We
see great potential in the future
applications of uSens’ 3D HCI
(Human-Computer Interaction)
technology, from entertainment and
gaming, to healthcare and behavioral
therapy, to architecture, aeronautics,
and education.”
United Family Healthcare Promotes
Advancement of Minimally Invasive Surgery
T h e “ d a Vi n c i M i n i m a l l y
Invasive Surgery Seminar” was
recently held at Beijing United
Family Hospital. To demonstrate
the globally state-of-the-art
concepts, techniques and surgical
methods associated with minimally
i n v a s i v e r o b o t i c s u r g e r y, D r.
Pier C. Giulianotti, inaugural
president of the Clinical Robotic
Surgery Association (CRSA) and
a renowned expert, completed a
complex, onsite removal surgery
for pancreas cancer on a 45-yearold female pancreatic cancer
patient using a minimally invasive
surgical system. It was reported
that the surgery was broadcast
live. While Professor Giulianotti
and his assistant surgeons were
working at the operating theater,
they carried out an interaction
with the attending doctors
through a big screen at the venue.
Specialist Hao Chunyi from the
Hepatic, Biliary and Pancreatic
Surgery Division (Zone 2) of
Beijing Cancer Hospital also gave
real-time explanations so that the
attending surgeons from all fields
could grasp the features of precise
movements, ease of suture, and
magnified high-definition vision
o f f e r e d b y d a Vi n c i s u r g i c a l
system powered by robotic
technology.
Insights
2016.6.30 FOSUN TIMES
07
Guo Guangchang:
What investment philosophy does Fosun place a
significant emphasis on?
growing at an annual rate of 6% to 7%,
so what does that imply? That implies
China’s gross economic volume
represents around 12% of the world,
while China’s contribution to global
economic growth being around 25%.
This is the essence of China’s growth
momentum.
Thirdly, many people say that
Fosun invests haphazardly without any
apparent relationship between each
of its investments. In fact, we refer to
this approach as being “loose in form
but rigid in spirit”. The “spirit” here
refers to the fact that Fosun needs to
invest globally in those enterprises
Many critics currently say that
Chinese enterprises are making
overseas investments very swiftly,
and say that companies are focused
only “buying this and buying that”.
H o w e v e r, i f w e t h i n k a b o u t i t
rationally, China has now become the
world’s second largest economy, and
our Chinese enterprises still have a
very low ratio of overseas investments
as compared to those investments
made by global enterprises in China.
Therefore, in order to realize the global
integration of China’s economy and to
forge better connections between the
global economy and that of China, it is
necessary for more Chinese enterprises
to make overseas investments and
for globalized enterprises from China
to emerge. In such a pursuit, Fosun
has indeed been making gradual
advancements. I would like to share
with all of you a few aspects that
Fosun has found to be most important
during its endeavors:
First of all, it is necessary to have
one’s own strategies. For Fosun,
there are three vital points to our
globalization strategy.
Fosun has indeed drawn on Warren
Buffett’s expertise regarding its
strategies underpinned by the twin
drivers of “insurance + investment”.
One of those drivers is insurance.
Fosun is now already in possession
of six insurance companies around
the world, while the other driver
places emphasis on our investment
capabilities. In addition to this, I
feel that there must be some synergy
between these two. In other words,
the assets under management must
be matched up with investment
capabilities.
Secondly, Fosun has been pursuing
its investment model of “Combining
China’s Growth Momentum with
Global Resources”. If an investment
has nothing to do with China, Fosun
in principle will not pursue such
opportunity, as we would rather invest
in enterprises that are associated with
China’s development and growth.
Upon making each of the investments,
Fosun will assist with its development
in China. The Chinese economy is
that are able to offer “wealth, health
and happiness” solutions for family.
Each of the enterprises in which Fosun
has invested are those that are most
worthy of investment and that have
the strongest product strength in the
three areas of “wealth, health and
happiness”. I feel that as an investment
group, we must be sure to refrain from
placing emphasis solely on money or
the investments. Instead, it is essential
for us to concern about the products
that the investees can provide, as well
as whether the people served by these
products are satisfied. What we care
about more is the products themselves
and those who refine them, and under
no circumstance would we merely
look at the financial indicators.
These three points are vital for
Fosun, and comprise the strategies
of Fosun Group. But then the word
“strategy” is somewhat troublesome,
since what’s the best excuse for
most people to give when they have
made a poor investment? That was
a “strategy”. Therefore, I feel that
although Fosun is indeed oriented
by these three strategies, we do
strongly emphasize the importance of
disciplined investing.
(Continued on Page 8)
Successful Companies Have a DNA of Bringing
Cultures Together
An Interview with Roberta Lipson, CEO of United Family Healthcare
Following her speech at a recent
conference, we had an exclusive
interview with the CEO of United
Family Healthcare (UFH), Roberta
Lipson. Her fluent Chinese amazed
us, not to mention her very stylish
Chinese Cheongsam. At the age
of twenty-four, Roberta arrived in
China and began her career in
healthcare and later with UFH.
During our interview she
shared her valued opinions on the
synergy in the Fosun Family and
also on future development plans
for UFH in China.
1. After becoming a member of the
Fosun family, I wonder whether there
have been any changes or benefits
that you have gained from Fosun?
Sure, I think I talked a little bit
today in my presentation about
the fact that so many companies
in the big Fosun family can benefit
from knowing each other and from
working together. I think successful
business is all about finding
synergies; synergies between
people, synergies between
organizations and we’ve already
seen so many of these synergies.
Luz Saude, for instance, is another
company that’s very similar to UFH
that’s operating in another country.
So they are getting different inputs
and learning different things at a
little bit of a different pace and stage
to us. So something they are ahead
on, or maybe we are ahead on,
we can really learn a lot from each
other’s experiences. Learning from
the experience of taking care of the
patient population over time and
offering the benefit of each other’s
knowledge is what’s most important
for the benefit our patients. For
example, Guahaowang is helping
to bring us patients. Ming Yi Dao
is bringing us surgeons. It’s a very
young company but they already
have a great platform which can
bring doctors, hospitals and patients
together. So if a patient needs a
doctor, needs a kind of intervention
or some kind of procedure, and
if that procedure is not available
where she lives, or where she
can’t get an appointment with a
really good doctor, they can bring
the doctor and the patient to our
hospital. So for somebody who
needs a real specialist this is a very
interesting online platform.
I think this is a great big family
and we’ve benefited a lot as
being a part of it for sure. And I
think that there are plenty more
benefits to come.
2. How do you maintain your
relationship with your clients?
First of all, every patient at United
Family Healthcare is assigned a
primary care provider. A doctor’s
responsibility is to become a
partner and a friend of our patients
to partner with them to keep them
healthy. So we are hoping that
our patient partners will come for
a check-up every year with their
doctor and that doctor can give
them health advice.
So it’s this care about our
patients’ health that keeps us in
touch. We have an app that allows
the patient to check information
about doctors, to make an
appointment with the doctor, to get
the results of their lab tests, to get
their medication delivered, to get
their refilled medication delivered,
to pay and check their bill and that’s
where we are starting with.
3. So what’s your plan for next
year? Do you have any strategy in
China?
First and foremost, we hope to
continue with this role of aligning
patients’ interest with our interest of
being providers. So our long term
strategy is to do more taking care of
people, taking care of populations;
getting paid to keep people healthy
and not just to make money from
them. That’s our long term goal. In
the next year, I’m happy to say that
we are going to open three new
hospitals; two in Shanghai, and
one in Guangzhou. So that’s the
big development plan for this year.
We also hope this year to continue
collaborating with other Fosun
portfolio companies to expand our
collective participation in the good
health of our customers.
4. Would you please share your
idea on the differences and synergies
between Chinese culture and western
culture?
I think that one of the things
that allowed our company to grow
and prosper was the fact that we
really value the benefits of bringing
Chinese and western culture
together. I think we have so much
that we can gain from bringing the
best from our cultures together. I
think those companies that have a
DNA of bringing different cultures
together are very successful.
08
Media
FOSUN TIMES 2016.6.30
Chairman Guo:
Fosun International Continues
Its Rapid Growth and Ranks Top- Fosun Wants to Give Foreign Companies
Room to Grow in China
500 in The Forbes Global 2000
O n M a y
26, American
m a g a z i n e
Forbes released
the list of
the world's
l a rg e s t p u b l i c
companies
in 2016 as
known as “The
Forbes Global 2000”. With the rapid growth in various
performance indicators, including operating revenue,
profit and asset scale, Fosun International Limited has
been ranked 434th globally, up 102 places from last year,
and ranked 47th amongst all Chinese enterprises. This
marks the first time that Fosun reached the Top-500 spot
in Forbes Global 2000, earning the best-ever ranking on
the list.
Nikkei Asia Review has reported
Chairman Guo’s interview in Tokyo on
June21, which is the very first time for
Chairman Guo to talk with Japanese media.
As part of Fosun’s global strategy, Fosun’s
investment in Japan will still focus on three
aspects of people's daily lives: wealth,
health and happiness, according to the
interview.
Chairman Guo also stated that one of
Fosun’s focus in Asia is Japan. Chinese
people are very interested in Japanese
health care goods and medical services, as
well as its animation and entertainment. At
the same time, Japan and China are both
part of Asia, and the two countries share
certain similarities in lifestyles. This helped
make Japanese goods and services popular
with Chinese consumers and he takes this
as great opportunity for cooperation with
Japanese companies.
Besides strategies in Japan and Asia,
Chairman Guo has also talked about the
way how he perceives China’s economics.
Guo Guangchang:
What investment philosophy does Fosun place a significant emphasis on?
(From Page 7)
R e c e n t l y,
I realized that there is
no longer any insurance
company currently
in the European and
American markets worthy
of investment, because
everyone in China has been
buying these companies
since Fosun started making
its insurance investments,
and the general prices have
been pushed up. Similarly,
it is no longer easy to
i n v e s t i n N e w Yo r k ’ s
real estate. Prices were
reasonable back in 2013
when Fosun purchased
the building that housed
the former headquarters
of JPMorgan Chase, but
now the property prices
are indeed relatively high.
Therefore, I feel that Fosun
still needs to abide by the
logic of “value-investing”
even when strategic
guidance prevails.
In addition, we are
now in an ever-changing
era. This interconnected
era means that we will
definitely have to create
connections amongst all
our investments at the
mobile internet level, and I
believe that this is a crosssector era where companies
in a particular sector no
longer deal with just that
one sector, be it tourism,
the pharmaceutical
industry or finance. Many
people feel that certain
internet companies such as
Alibaba are e-commerce
companies, but in my
opinion Alibaba has
actually been a company
with financial genes
since the very first day
of its existence. Why
would I say that? As a
matter of fact, given that
an increasing number
of co mpan ies w ere then
dealing with e-commerce,
A l i b a b a ’s m o s t c r e a t i v e
product or solution was
not e-commerce itself
b u t A l i p a y. B e c a u s e o f
the existence of Alipay, a
closed-loop w as formed
throughout Alibaba despite
its e-commerce business
having not yet matured
at the time. So what was
the biggest challenge for
e-commerce? It was credit
- the absence of a closedloop in terms of capital,
and Alipay was right there
to resolve such a credit
issue. So if we analyze
from such a perspective,
is Alibaba actually an
e-commerce company or a
financial company? That’s
why I feel that its financial
leanings are of particular
significance.
And what do I really
want to say with all this? I
want to stress that financial
services will probably
cease to be an independent
sector moving forward,
and that it may become a
solution or a means within
cross-sector services that
is intended for service and
family life scenarios. In my
understanding, probably
everything will have to be
customer-oriented in future
and product creation will
be centered on customer
life scenarios. Regardless
of whether these products
respond to the needs
of tourism, education
or disease resolution,
enterprises will have to
bring together a set of
capabilities offering the
best services and shaping
the best products based on
a customer-oriented and
family-oriented approach.
Our vision, therefore,
lies exactly in improving
people’s lives.
As my topic unwinds,
I feel that when making
investments globally, there
would indeed be many
concerns, including those
arising from different
cultures or different
r e g u l a t o r y r u l e s . T h a t ’s
why Fosun adopts various
means to address these
concerns during the course
of global investing. At that
time our attitude is about
communication, constant
communication, and
consistently attempting to
gain a better understanding.
Fosun’s wish is that when
we make any investment
or provide any service,
we should also be aiming
at something more than
just the investment or the
service.
It actually struck me
to realize that Fosun
Group has now become
a financial group, and
that it is no longer just
responsible for the
customers we serve: the
tourism or pharmaceutical
customers. Rather, we also
need to be responsible
for those who purchase
our insurance products.
A considerable portion
of the assets currently
under our management are
derived from insurance
assets. Not only should
we pay attention to the
profitability of such
insurance assets, but we
should also care about the
security issues associated
w i t h t h e m . T h a t ’s w h y
at Fosun, we are very
confident that we can
become a responsible
global citizen. Under
such a light, there are
several aspects that are of
particular concern to me:
First, we particularly
care about our customers
and create products that
can astonish clients.
Secondly, we pay special
attention to, and comply
with, local regulations and
regulatory rules, assuming
the responsibilities in
accordance to an insurance
company.
T h i r d l y, w e h a v e t o
remain particularly alert to
local social developments,
striving to integrate into
t h e l o c a l s o c i e t y, a n d
attempting to do more for
the local community, be
that small deeds or large
undertakings. For instance,
we recently held a small
exhibition comprising 50
pianos at the plaza of our
building at 28 Liberty in
New York, where children
from the local community
play on these pianos painted
in various colors. Later
on, we gave them out to
different kindergartens and
primary schools. Despite
the seeming trivial nature
of this initiative, it clarifies
one of our positions: as
an investor from China,
Fosun does wish to create
more job opportunities
and provide more services
for the local community,
and in no way does this
Chinese enterprise differ
from its local American
counterparts. And if there
does exist a difference, it
is only that as a newcomer
we are humbler and wish
to do things better. Today,
as we gather together here,
I feel that the only thing I
am telling all of you is that
most Chinese enterprises
desire to gain more
recognition in this society,
in the United States. But
this is not something that
can be achieved through
words. Rather, it is
something that depends on
our gradual and consistent
efforts, including this
meeting of ours today that
also forms a part of such
persistence. I sincerely
hope that all of you will
give such an opportunity
to Fosun and to those
responsible enterprises
from China. Thank you
very much.