NewFosun International says annual net profit climbs 17.3 per cent, pledges more investment in Brazil, Russia and India

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A pedestrian walks across a footbridge in front of the Fosun International Ltd. headquarters building in Shanghai. Photo: Bloomberg

Published: 8:01pm, 31 Mar 2016Updated: 8:01pm, 31 Mar 2016

Fosun International, the Chinese mainland based conglomerate chaired by billionaire Guo Guangchang, reported 2015 net profit grew 17.3 per cent on year, and pledged this year to continue expanding its global footprint to include new investments in Brazil, Russia and India.

Guo, founder and chairman of Fosun, discussed the results during a press conference in Hong Kong on Thursday, his first since he went out of contact in early December and later confirmed by his company to have been “assisting investigation” by Chinese authorities.

No details of the investigation have been made public.

Fosun International Executive Director and Chairman Guo Guangchang attends the annual results announcement at the Four Seasons Hong Kong. Photo: Edward Wong

“Our investment had been mainly focused in Europe and the US in the past few years, while we believe opportunities are emerging in Brazil, Russia and India, with their weakening currency rates,” he said.

“We will also look for acquisition targets which enable synergies with existing insurance companies and whose products can supplement ours,” he said.

Fosun last year acquired diversified assets including US-based insurers, a UK-based property manager and food producer, and a Japanese resort operator.