HONG KONG, January 30, 2023 /PRNewswire/ — During the Spring Festival Golden Week this year, benefiting from the recovery of domestic consumption, various operating indicators of business segments such as Happiness and Health of Fosun International Limited (“Fosun International” or the “Society”) (HKEX: 00656) surged, marking an auspicious start to the Year of the Rabbit.
During the Spring Festival holiday, from Chinese New Year to the sixth day of Chinese New Year (January 21-27, 2023), the occupancy rate of Fosun Tourism Group’s Club Med Resorts at China continued to rise, Club Med Lijiang’s average occupancy rate for six nights reached 95%, and Club Med Guilin’s average occupancy rate exceeded 90%, Club Med Joyview Anji and Club Med Joyview Qiandao Lake have achieved a high occupancy rate of over 95%. In addition, the average occupancy rate of Beidahu, Yabuli and Changbaishan ski resorts exceeded 85%.
As one of the favorite destinations for domestic travel, Atlantis Sanya, a benchmark project of Fosun Tourism Group, continues to be in high demand since the beginning of 2023. During the New Year holiday period, the rate of Average occupancy reached 97.4%, total reception was around 37,000 person-times, and business volume exceeded pre-pandemic levels. Atlantis Sanya is expected to record near 100% occupancy for 22 consecutive days from January 9 to January 31, 2023 and recorded over 97% occupancy in January, a record since opening.
It is worth mentioning that, thanks to the steady recovery of consumer confidence in travel, the medium and long-term bookings of Fosun Tourism’s main resorts have recently increased significantly, and subsequent business has continued to improve. . “The Spring Festival holiday has just ended, and many consumers are already planning to travel during the Labor Day holiday in May. For this reason, we believe that the auspicious start of the Spring Festival will continue,” the Fosun official said. Tourism says.
During the Spring Festival holiday, the 2023 Yuyuan Garden Lantern Festival is held in Grand Yuyuan at Shanghai has been frequently featured on WeChat Moments. This year’s Yuyuan Garden Lantern Festival is inspired by the “Classic of Mountains and Seas,” a major source of Chinese mythology. With modern intangible cultural heritage, multimedia, augmented reality and other technologies, the Yuyuan Garden Lantern Festival presents “a magical adventure of mountains and sea” in Downtown Shanghai and has become a main attraction in Shanghai.
The popularity of the Yuyuan Garden Lantern Festival has also boosted consumption. From the opening December 26, 2022 to January 27, 2023, Yuyuan Tourist Mart attracted a total of 2.33 million visits, representing a year-on-year increase of 20%. Sales during the Spring Festival holiday also returned to pre-pandemic levels. Sales of many brands such as Laomiao, Yayi, Lubolang, Nanxiang Steamed Bun Restaurant and Shanghai Classical Restaurant rebounded significantly. It is particularly worth mentioning that, according to statistics, among visitors to the Yuyuan Garden Lantern Festival, the proportion of young people born in the 90s, 95s and 00s has increased significantly, and the consumer group has become significantly younger compared to the pre-pandemic period.
Located right next to Yuyuan Garden, the Bund Finance Center (BFC) also attracted many visits. A series of activities such as CFB Fireside Party, NICE Rabbit Garden Party, and CFB Ice Skating Rink have aroused consumer enthusiasm. BFC’s turnover increased by 27% and passenger flow increased by 21%, compared to the seven-day Spring Festival holiday last year.
With respect to the Health segment, since COMIRNATY® bivalent vaccine has been officially registered as a drug/product (biological product) in Hong Kong SAR and has been approved as a regular imported vaccine in Hong Kong SAR Macau, mainland Chinese residents visiting Hong Kong SAR and Macau SAR to receive COMIRNATY® vaccination recently attracted great attention, the number of inquiries and appointments increased significantly during the holiday of the Spring Festival.
On the eve of the Chinese New Year, Fosun Pharma and a number of companies, including Genuine Biotech, announced the joint expansion of production to full 24-hour production during the Spring Festival holiday to bring everything implemented to ensure stability in the supply and production of Azvudine tablets. During the Spring Festival holiday, all Fosun Health member hospitals continued to provide diagnosis and treatment services, and Internet hospitals also continued to provide 24-hour online emergency services to patients. , ensuring the supply of tablets of Azvudine, the oral drug against COVID-19. . Overall online sales during the Spring Festival holiday increased 244% year-on-year.
It is reported that in response to the peak infection season for COVID-19 during the Spring Festival holiday, Fosun Health launched a series of live health programs and joined forces with the Fosun Foundation to hire five consultants, including Chen Saijuan, Ning Guangand Jia Fanand 38 recognized experts in China including Chen Erzhen, Zhang Shuyang and Zhang Wenhong, assisting primary medical institutions in COVID-19 prevention and control work and providing services such as online training, prescription support and consultation to rural doctors on Fosun Health’s “Cloud Guardian” platform.
On January 10, Guo Guangchang, Chairman of Fosun International, expressed his unwavering optimism on China economy in the “Dialogue” program of the CCTV-2 Finance channel. He said, “In 2023, I believe the family-oriented consumer sector that Fosun is engaged in will gradually see an increase in demand, and our offline retail and tourism businesses will be among the first to to resume”.
The Spring Festival Golden Week offers a glimpse of the economic situation of the whole year. Market analysts believe that Fosun’s outstanding business performance during the Spring Festival holiday signals an upward development trend in 2023. Driven by the strategy of strengthening its positioning as “a global consumer-oriented group on innovation”, Fosun will usher in an important period of development opportunities.
Recently, international rating agency S&P Global Ratings and investment banks, including Morgan Stanley and Daiwa Capital Markets, released reports expressing their optimism about Fosun. With the optimization of China epidemic prevention and control measures and Fosun’s continued focus on core business in the home consumption business, Fosun’s business is expected to see a rebound soon.