Earnings release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited t ake no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howso ever arising from or in reliance upon the whole or any part of the contents of this announcement. INTERIM RESULTS ANNOUNCEMENT (UNAUDITED) FOR THE SIX MONTHS ENDED 30 JUNE 2026 FINANCIAL SUMMARY For the six months ended 30 June In RMB million 2026 2025 Total Revenue 86,963.4 87,283.1 Health 24,030.1 22,565.2 Happiness 31,628.0 33,721.4 Wealth 27,307.0 27,828.3 Insurance 22,806.8 20,890.3 Asset Management 4,500.2 6,938.0 Intelligent Manufacturing 4,610.2 4,021.3 Eliminations (611.9) (853.1) Profit/(loss) attributable to owners of the parent 1,721.1 661.2 Health 721.9 755.8 Happiness (519.6) (434.6) Wealth 1,332.1 243.1 Insurance 1,245.2 1,217.9 Asset Management 86.9 (974.8) Intelligent Manufacturing 197.3 137.8 Eliminations (10.6) (40.9) Earnings per share – basic (in RMB) 0.21 0.08 Earnings per share – diluted (in RMB) 0.21 0.08 1
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BUSINESS OVERVIEW Since its establishment in 1992, the Group has a lways adhered to its original aspiration of ‘‘Contribution to Society ’’. With the forward-looking strategy of ‘‘changing first to bring changes ’’,i t has grown in step with the wave of China ’s reform and opening up and the process of globalization. After more than 30 years of steady development, the G roup has successfully tra nsformed into a global innovation-driven consumer group and establishe d an industrial ecosystem covering the three core segments of Health, Happiness and Wealth. While consolidating the foundation of its globaliza tion strategy, the Group has always focused on its core businesses and continuously carried out indust rial upgrades through technological empowerment and lean operations. We have estab lished business presence in over 40 countries and regions around the world. With accurate insights into consumer needs and in-depth exploration of the industrial chain value, we strive to provide high-qua lity products, services, and innovative solutions to global families, fulfilling the corporate commitment of ‘‘creating happier lives for families worldwide ’’. CORE BUSINESSES OPERATING STEADILY, GROUP PROFIT REBOUNDS SIGNIFICANTLY In the first half of 2026, global geopolitical conflic ts continued to intensify, and the global economic landscape and inflation expectations became increas ingly uncertain. The Group remained steadfast in implementing its business streamlining and core business-focused strategy, with innovation and globalization as its twin engines, deepening its presence in core businesses such as healthcare, consumption and insurance, and driving improvement si nb o t hq u a l i t ya n de f f i c iency of its industrial operations. Following the completion of non-cash imp airment provisions on rela ted assets recognized in the fiscal year 2025, the Group ’s financial foundation was further s trengthened. During the Reporting Period, benefiting from the excel lent operating performance of it s core businesses, the profit attributable to owners of the parent of the Group in creased significantly by 160.3% year-on-year to RMB1.72 billion. During the Reporting Period, revenue from the Group ’s Health, Insurance and Intelligent Manufacturing segments all increased year-on-year. Meanwhile , the Group continued to advance the disposal of non-core asse ts, resulting in the deconsolidatio n of certain subsidiaries, as at the end of the Reporting Period, the Group ’s total revenue amounted to RM B86.96 billion, remaining broadly flat compared to the same period of last year. During the Reporting Period, the Group maintained a stable asset foundation. By revenue, the Group ’s four largest subsidiaries and business segment s were: Fosun Pharma, Yuyuan, Fosun Insurance Portugal, and Fosun Tourism segment 1, which together yielded a total revenue of RMB63.88 billion, accounting for 73.5% of the Group ’s total revenue, keeping stable as compared with the same period of last year. Globalizati on has long been the Group ’s core strategy, and the continued growth in overseas revenue fully demonstrates the effectiveness of i ts international expansion. During the Reporting 1 The Fosun Tourism segment, comprising Club Med, Atlantis Sanya and the Vacation Asset Management Center, is consistent with the scope of FTG ’s entities as set out in the 2025 Annual Report. 2
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Period, the Group ’s overseas revenue reached RMB49.16 bill ion, accounting for 56.5% of the Group ’s total revenue. The proportion of ov erseas revenue increased by 3 percentage points compared to the same period of last year. In the first half of 2026, the Group ’s core industries maintained steady and positive operating performance: the Insurance sector achieved strong operating profit growth momentum, increasing by 40% year-on-year; Yuyuan ’s profit improved significa ntly, with net profit attributable to shareholders of the parent increasing by 157% year-on-ye ar. During the Reporting Period, the Group ’s industrial operation profit 2 increased by 17% year-on- year to RMB3.69 billion. CONTINUOUSLY DISPOSING OF NON-CORE ASSETS, MAINTAINING STABLE LIQUIDITY OF THE GROUP The Group has always adhered to its proactive and pr udent liquidity and liability management policy. While exploring diversified financing channels, it h as intensified efforts in non-core asset disposal and strengthened its cash reserves in response to fluct uations in the global cap ital market. Since 2026, geopolitical conflicts have driven u p crude oil prices and elevated rate hike pressure globally. However, benefiting from the successfu l implementation of the Group ’s long-standing prudent financing strategies over the years and the completion of asset divest ment in 2026, the Group continues to maintain an ample liquidity buffer. Overseas, in March 2026, the Group made early repayment of its syndicated loan of USD530 million equivalent, and successfully raised a new offshore three-year unsecured syndicated loan for the 10th consecutive year. I n the same month, the first closing of the new syndicated loan amounted to USD522 million equiv alent, and as at the date of this announcement, the total approved size of this new syndicated loan h ad been upsized to USD670 million equivalent. In addition, in March 2026, the Group also launche d a full tender offer for its USD bonds maturing in May 2026, proactively managing upcom ing debt maturities. Domestical ly, in the first half of the year, Fosun High Technology ’s new issuances and resale of puttable bonds in the open market amounted to approximately RMB3.0 billion in aggregate, sustaini ng its stable access to the financing channels in the domestic bond market. In May 2026, the international credit rating agency S&P completed its annual review of the Group ’s credit metrics, reaffirming the BB- rating and stable credit outlook. Since 2020, the Group has steadfastly made debt reduction as one of the top priorities under its financial strategy and aimed to achieve this goal th rough the divestment of non-strategic and non-core assets. The Group has also implemented the financi al strategy of portfolio optimization across its subsidiaries to enhance their divi dend-paying capability. In the firs t half of 2026, the Group completed divestments that generated cash proceeds of over RMB12 billion equi valent (on consolidated basis). Looking forward, management will continue to fi rmly pursue the disposal of non-core assets, continuously strengthen cash reserves, and continue to reduce its debt level. 2 It includes the profit contribution o f industrial operation subsidiaries of the Group and associates and joint ventures accounted by equity method o ft h e Group. 3
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ENHANCING THE QUALITY AND EFFICIENCY OF OVERSEAS OPERATIONS AND ACCELERATING GLOBAL OPERATIONAL DEPTH As a global enterprise rooted in China, the Group i s deeply committed to developing the domestic market while continuously improving the quality and efficiency of its opera tions across multiple countries and regions. It strives to deepen operati onal capabilities and ecosystem synergies, driving innovation in products and experience s that serve families worldwide. During the Reporting Period, the globa lization capabilities of the Group ’s enterprises in China continued to improve in the following ways: Global R&D and business development capabilities: Fosun Pharma and its subsidiaries continued to achie ve major breakthroughs in their global business, benefiting from their forward-lo oking international business plann ing and strong clinical operation capability: . During the Reporting Period, Fosun Pharma ’s overseas revenue achieve d a dual increase in scale and proportion. Fosun Pharma entered into a globa l exclusive option agre ement with AriBio for AR1001, an oral investigational drug for Alzheimer ’s disease. . Fosun Pharma ’s subsidiary Henlius saw its globalization s trategy deliver strong results as overseas product launches accelerated. During the Reporting Period, HANSIZHUANG (trade name in Europe: Hetronifly ®), was approved in the European Commi ssion for three new indications, esophageal squamous cell carcinoma (ESCC) , non-squamous non-small cell lung carcinoma (nsNSCLC), and squamous non-small cell lung carcinoma (sqNSCLC), further expanding the treatment landscape in the European market; HLX 11 (pertuzumab injection) was also approved for marketing in the European Union (trade name in Europe: POHERDY ®);t w op r o d u c t so fH L X 1 4 (denosumab injection) were approved for m arketing in Canada (trade names in Canada: BILDYOS ® and TUZEMTY ®). . Fosun Health, a subsidiary of Fosu n Pharma, continued to advance its internationalization. It has actively expanded into markets such as Indone sia, Bangladesh, Mongolia, Hong Kong and Macao regions, and built an open, stable and professional i nternational medical collaboration network. In addition, the standalone medical building of the International Medical Center of Foshan Fosun Chancheng Hospital was newly put into operat ion, with a planned capacity of 100 beds, establishing a full-process inter national medical service closed-loop integrating outpatient care, inpatient care, physical examin ations and rehabilitation. Overseas operations entering an era o f accelerating global expansion: . As at the end of the Reporting Period, Laomiao , a brand under Yuyuan, has expanded its stores across Hong Kong, Macao, overs eas markets and duty-free channels to 15 outlets. Going forward, Laomiao will continue to deepen its presence in Sou theast Asia and accelerate its expansion into 4
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markets such as Hong Kong, Macao, Malaysia, Thailand and Singapore, break through core international duty-free chan nels, and keep conveying its culture of good fortune to consumers worldwide. . During the Reporting Period, Hainan Mining further deepened its global footprint. In the first half of the year, three batches totalling 70,000 tonnes o f lithium concentrate were delivered from Mali, Africa to Yangpu Port in Hainan, China. The constr uction of multiple production wells and water injection wells in Blocks 3&4 of the Oman oilf ield was completed. The commissioning of new wells and optimization of the waterflooding progr am served as key drivers for production growth in the blocks. . During the Reporting Period, Wansheng ’s phosphate ester flame retardant project at its Thailand base was successfully put into operation, filling the gap in Wansheng ’s overseas manufacturing footprint and injecting new resilience into Wansheng ’s global supply chain. At the same time, the global operations of our overseas subsidiaries continued to grow: Global operational capabilities: . Leveraging the solid fo undation built in the Swiss and Liechtenstein markets over the past five years, The Prosperity Company, a subsidiary of Fosu n Insurance Portugal (Fidelidade), is further expanding into Germany, a market of significa ntly larger scale. In the German market, The Prosperity Company is currently focusing on two bus iness lines: first, providing private pension savings solutions targeting younger clients within the mass affluent segment, with an emphasis on product transparency as well as independent and diversified fund selection; and second, accelerating the expansion of sin gle-premium life insurance business, fully leveraging the unique advantages of life insurance products in intergenerational wealth transfer. . During the Reporting Period, Peak Reinsurance cont inued to advance its globalization strategy, further deepening its diversified presence across different geogra phies and business lines. During the Reporting Period, leveraging its additional footprint through the branch in Gujarat International Finance Tec-City (GIFT City), India, and its Be rmuda subsidiary, Peak Reinsurance continued to strengthen its global unde rwriting capabilities. . Club Med continued to advance its global destinati on footprint and resort experience upgrades, with Club Med Urban Oasis Hangzhou Longwu Resor t officially opening in April 2026 and Club Med South Africa Beach & Safari Resort soft opening in July 2026. TECHNOLOGY INNOVATION ENHANCING PRODUCT STRENGTH TO LAY THE FOUNDATION FOR SUSTAINABLE DEVELOPMENT The Group persistently regards technology innovati on as a core strategic pillar and has established a global innovation system integrating ‘‘independent R&D + investme nt incubation + ecosystem collaboration ’’. Adhering to the philosophy of intelligen t innovation, innovation with warmth, and market-oriented value creation, the Group takes gl obally integrated innovation as its core approach, 5
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collaborating with high-quality t echnology teams and supply chain resources worldwide to conduct joint R&D. Leveraging diversified partnerships , the Group efficiently advances product pipeline development and iterates its service offerings , continuously delivering high-quality innovation outcomes with market potential and social value. During the Reporting Period, the Health segment of the Group made outstanding achievements in technology innovation, committed to addressing unmet clinical needs. . During the Reporting Period, a total of 20 indi cations of 7 Innovative Drugs independently developed and licensed-in by Fosun Pharma we re approved for launch both domestically and internationally. Among them, Fu Mai Ning (luvomet inib tablets) was approved for the treatment of pediatric and adolescent patients w ith relapsed or refractory Langerhans cell histiocytosis (LCH), and Fortacin spray (lidocaine and prilocaine aero sol) was approved for the treatment of premature ejaculation. In the field of neur odegenerative diseases, Fosun Pharma continued to advance its innovation layout: building upon the rights obt ained to develop, register, manufacture and exclusively commercialize A R1001 in Chinese mainland, Hong Kong, Macao, and 10 agreed Southeast Asian countries, Fo sun Pharma further secured a gl obal exclusive option for AR1001, with the right to exercise the option, thereby expa nding the licensed territory to key global markets including the U.S., Europe and Japan, and would act as the marketing author ization holder in such regions; the post-marketing confirmatory clinical trial of sodium oligomannate capsules in Chinese mainland progressed steadily, with over 1,000 subjects accumulated and enrolled as of 31 July 2026; and HT001, an oral brain-penetrant NLRP 3 inhibitor (for the treatment of Parkinson ’s disease) in-licensed by Hengtai Bio (an invested and incubated company), initiated Phase I clinical trials in Australia. . In addition, Fosun Pharma continues to deepen its digitalization and AI strategic layout, and systematically advances the platformization, engineering and scaled implementation of AI capabilities focusing on core aspects such as new drug R&D, clinical research, products and services, and operation management. During the Reporting Period, Fosun Pharma completed the upgrade of the ‘‘PharmAID ® Pharmaceutical Intelligence System V2.0, ’’ forming four major segments to promote AI empowerment across the ent ire lifecycle of the product pipeline from early R&D to clinical confirmation and post-mark eting. During the Reporting Period, AI was progressively and deeply embedded into core bus iness processes. As at the end of the Reporting Period, more than 25 high-value AI projects h ad been brought into pr oduction and over 50 scenarios were being advanced concurrently, c overing business lines such as pharmaceutical project evaluation, target prediction, molecula r optimization and other business lines; 2 new molecules generated and structured with AI-assis ted had entered the preclinical candidate stage. . Data from ASTRUM-006, a Phas e 3 clinical study of Henlius ’ self-developed product HANSIZHUANG as neoadjuvant/adjuvant treatment fo r gastric cancer, wer e formally presented for the first time as an oral presentation at the 2026 American Society of Clinical Oncology Annual Meeting (ASCO). HLX43 (PD-L1 ADC) present ed positive survival benefit data in later- line NSCLC (non-small cell lung cancer) at ASCO. 6
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Enterprises under the Happiness segment of the Gr oup continuously leveraged technology to empower the consumer industry. . Shede Spirits rapidly advanced AI applications in its industry: the pit-cellar AI project improved liquor yield, and the pilot banquet AI project achi eved intelligent recogni tion of banquet scenarios and automated expe nse verification. . In July 2026, Club Med signed a comprehensive s trategic cooperation memorandum with a leading AI technology solutions company. The two parties w ill engage in in-depth c ollaboration across three key areas – AI-empowered guest experience, cloud and A I-native platform transformation, and global growth – jointly driving the intelligent upgrade of the vacation industry. Enterprises under the Group ’s Intelligent Manufacturing segm ent developed innovative businesses around the AI industry chain. . Hainan Mining is capitalizing on opportunities brought by new technological developments such as the energy transition, strategically positioning itself in upstream core resources to rapidly achieve a zero-to-one breakthrough in its new energy segme nt, establishing an integrated industrial chain of ‘‘lithium resources + lithium salt production ’’. Through its equity investment in Fengrui Fluorine, Hainan Mining further expanded its fluorite busines s footprint and reinforced its strategic resource reserves. Entering the new strategic developmen t phase of the 15th Five-Year Plan, Hainan Mining is focusing its strategic priorities on growth oppo rtunities in emerging application fields such as new energy, AI, and high-end manu facturing. It will prioritize the development of lithium and fluorite businesses, while seizing appropriate opportuni ties to expand into other critical strategic mineral resources. . Wansheng continuously focuses on fine chemicals business opportunities arising from development in the AI and semiconductor industry chains. During the Reporting Period, s ales of flame retardant products for copper clad lamin ates such as phosphazene and DOPO continued to grow. DEEPENING THE FES MANAGEMENT SYSTEM TO EMPOWER VALUE CREATION FES is a business management system that the G roup has evolved in practice to build the core competitiveness of a long-standing enterprise and cu ltivate talent with Fosun entrepreneurial spirit. Centered on supporting the achievement of business objectives, FES fosters a culture and mechanism of continuous improvement, driving ente rprises to proactively identify an d resolve key operational issues, thereby building top-tier operational mana gement capabilities within the industry. During the Reporting Period, the FES system continue d to be deepened, oriented toward supporting the achievement of business objectives, c ontinuously enhancing enterprises ’ operational capabilities and value-creation capabilities. Hainan Xingzhihai New Materials Co., Ltd., a subsidiary of Hainan Mining, launched a ‘‘100-day special campaign ’’ focusing on capacity improvement, quality enhancement, cost optimization, and market expansion, guided by cu stomer needs and operational objectives, to drive improvements across the entire pr ocess and all elements. Through measures such as production line 7
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optimization, quality system development, proces s innovation, and supply chain cost reduction, capacity utilization increased to 106.7%, product pass rate rose to 97%, and unit consumption of key raw materials, auxiliary materials, and energy continued to decline. As at the end of the Reporting Period, the Group continued to deepen the development of its FES system, having recorded 1,715 cumulative inst ances of FES expert training and certification, continuously enhancing enterprises ’ improvement capabilities. The FES organizational system was further refined, with a total of 65 FES leaders appoint ed across four batches, covering 61 subsidiaries, driving the capability building and organizationa l coverage of FES leaders. Guided by the achievement of business objectives, enterprises focused on ke y operational issues and ap plied FES methodologies to drive the implementation of improvement projects , achieving enhanced opera tional capabilities and continuous value creation. During the Reporting Period, the Group completed a to tal of 113 improvement projects and distilled 40 best practice cases, which were prom ptly shared and replicated within t he Group, continuously driving steady improvement in enterprises ’ improvement capabilities and operational quality. CONTINUING TO DEEPEN ESG RESPONSIBILITY AND PRACTICE SOCIAL COMMITMENT Upholding the values of ‘‘Self-improvement, Teamwork, Perfor mance, and Contribution to Society ’’, and driven by the twin engines of ‘‘Innovation ’’ and ‘‘Globalization ’’, the Group continues to deepen the integration of ESG and business, accelerate i ts low-carbon transition, expand responsible investment, and strengthen soci al practice, contributing Fosun ’s strength to global sustainable development. In terms of low-carbon transition, under the le adership of the Board and the Carbon Neutrality Committee, the Group continued to advance the scie ntific and refined development of its emission reduction pathway from 2025. Building on its commi tment to carbon neutrality by 2050, the Group has set a medium-term target of reduc ing the intensity of greenhouse gas (Scope 1 and Scope 2) emissions by 20% by 2034, using 2024 as the base year. In terms of social welfare, Fosun Pharma, a subsidia ry of the Group, has consistently contributed to the ‘‘China Solution ’’. In April 2024, at the launch ceremony of the ‘‘China-Africa Community Sustainability Action Network ’’ hosted by the Liaison Office of the UN Global Compact in China, Fosun Pharma announced that it would donate RMB10 mill ion worth of artemisini n-based anti-malaria medicines to Africa in the following three years, s upporting community health development in Africa. As at the end of the Reporting Period, the cumulat ive global supply of artesunate for injection, independently developed by Fosun Pharma, exceeded 4 6 0m i l l i o nd o s e s ,h a v i n gb e e nu s e dt ot r e a tm o r e than 92 million patients with severe malaria worldwide. The ‘‘Seasonal Malaria Chemoprevention Program ’’, centered on the SPAQ-CO series of products, h as benefited over 330 million African children, helping to reduce the incidence of malaria a m o n gA f r i c a nc h i l d r e nd u r i n gp e a kt r a n s m i s s i o n seasons. 8
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In terms of rural revitalization, in the first ha lf of 2026, the resident team members of the Rural Doctors Program visited 442 village clinics in pe rson and conducted over 600 online and offline visits to rural doctors. A total of over 12, 590 group accidental injury and cri tical illness insurance policies had been cumulatively purchased for rural doctors in project counties, 59 village clinics (hospitals) underwent intelligent upgrading, and 263 rural docto rs were supported in obtaini ng the qualification of Assistant General Practitioner. In May, the ‘‘AI Rural Doctor Assistant ’’ 2.0 was launched, with over 1,000 conversations conducted, a 100% service succes s rate, and a 92% satisfaction rate among rural doctor users. In addition, Guangzhou Fosun Chanc heng Hospital was newly added as a training base for the Rural Doctors Program. The Group organized ‘‘Expert Mentorship Training Sessions ’’ at Guangzhou Fosun Chancheng Hospital, Foshan F osun Chancheng Hospita l, Shenzhen Hengsheng Hospital, Wuhan Puren Hospital, Nanjing BenQ Medi cal Center, Suzhou BenQ Hospital, and Zhanjiang Lingnan Orthopedic Hospital, invi ting 34 grassroots medical pract itioners from 9 provinces, municipalities and autonomous regions to be paired with experts for customized coaching lasting 1 to 3 months. As at the end of the Reporting Period, the Rural Doctors Program had covered 78 counties in 16 provinces, cities and autonomous regions (i ncluding 25 key counties for national rural revitalization), supported 25,000 rura l doctors, and benefited 3 million rural families and 16.34 million rural residents. During the Reporting Period, relying on its conti nuous efforts in environmental, social and governance (ESG) over the years, the Group ’s MSCI ESG rating was upgraded to the top rating of AAA. The Group was also once again successfully included in S&P Global ’s ‘‘Sustainability Yearbook 2026 ’’ and was selected as the top 1% in S&P Global ’s ‘‘Sustainability Yearbook 2026 (China Edition) ’’.D u r i n g the Reporting Period, the Group ’s FTSE ESG score continued to outpe rform the global industry average and the national average, and it ha s been included in the constituen t stocks of the FTSE4Good Index Series for five consecutive years. Looking ahead to the second half of 2026, in the face of a complex and volatile global capital market environment, the Group will continue to drive the high-quality developmen t of its core industries through innovation and globalization, and furth er deepen its FES operational system and ESG management system to promote val ue creation. In terms of financial management, the Group will continue to adhere to a prudent liquidity management approach, consolidate its diversified financing channels, and firmly advance the di sposal of non-core assets and optimiz ation of its asset portfolio, so as to accelerate cash realization, c ontinuously reduce debt, and continu ously optimize its debt structure. Relying on the steady operation of its core busin esses and continuous improvement in its financial position, the Group will achieve sustainable devel opment and continuously enha nce shareholder returns. 9
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MANAGEMENT DISCUSSION & ANALYSIS BUSINESS REVIEW As at the end of the Reporting Period, equity attr ibutable to owners of the parent of the Group amounted to RMB95,188.0 million. The profit att ributable to owners of the parent of the Group amounted to RMB1,721.1 million during the Reporti ng Period, representing an increase of 160.3% compared to the same period of 2025. As at the end of the Reporting Period, total ass ets of the Group amounted to RMB712,292.6 million, representing a decrease of 0.5 % compared to the end of 2025. During the Reporting Period, the revenue of the G roup amounted to RMB86,963.4 million, representing a decrease of RMB319.7 million, or 0.4%, compare d to the same period of 2025, mainly attributable to the decrease in revenue of the Happiness segment and the impact of HAL ’s deconsolidation. From the perspective of product lines, du ring the Reporting Period, revenue of pharmaceutical, devices & diagnosis, and healthcare servi ces & consumption of the Health segment represented 61%, 8% and 31% of the total Health segment revenue of the Group, r espectively; revenue of br and consumer and tourism & leisure of the Happiness segment represented 68% and 32% of the total Happiness segment revenue of the Group, respectively; revenue of insurance, asset management (property) and asset management (investment) of the Wealth segment represented 84%, 11% and 5% of the total Wealth segment revenue of the Group, respectively; revenue of technolo gy & intelligent manufacturing, and resources & environment of the Intelligent Ma nufacturing segment represented 43% and 57% of the total Intelligent Manufacturing segment reve nue of the Group, respectively. REVENUE BY SEGMENT OF THE GROUP Unit: RMB million Segment For the six months ended 30 June 2026 Proportion For the six months ended 30 June 2025 Proportion Change over the same period of last year Health 24,030.1 27.4% 22,565.2 25.6% 6.5% Happiness 31,628.0 36.1% 33,721.4 38.3% (6.2%) Wealth 27,307.0 31.2% 27,828.3 31.5% (1.9%) Insurance 22,806.8 26.0% 20,890.3 23.7% 9.2% Asset Management 4,500.2 5.2% 6,938.0 7.8% (35.1%) Intelligent Manufacturing 4,610.2 5.3% 4,021.3 4.6% 14.6% Eliminations (611.9) (853.1) Total 86,963.4 100% 87,283.1 100% (0.4%) 10
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PROFIT/(LOSS) ATTRIBUTABLE TO OWNERS OF THE PARENT BY SEGMENT OF THE GROUP Unit: RMB million Segment For the six months ended 30 June 2026 Proportion For the six months ended 30 June 2025 Proportion Change over the same period of last year Health 721.9 41.7% 755.8 107.6% (4.5%) Happiness (519.6) (30.0%) (434.6) (61.9%) (19.6%) Wealth 1,332.1 76.9% 243.1 34.7% 448.0% Insurance 1,245.2 71.9% 1,217.9 173.5% 2.2% Asset Management 86.9 5.0% (974.8) (138.8%) 108.9% Intelligent Manufacturing 197.3 11.4% 137.8 19.6% 43.2% Eliminations (10.6) (40.9) Total 1,721.1 100.0% 661.2 100.0% 160.3% ASSET ALLOCATION OF THE GROUP Unit: RMB million Segment As at 30 June 2026 Proportion As at 31 December 2025 Proportion Change compared to the end of 2025 Health 140,019.6 19.4% 135,211.0 18.6% 3.6% Happiness 175,569.8 24.4% 185,324.8 25.6% (5.3%) Wealth 375,443.9 52.1% 376,368.8 51.9% (0.2%) Insurance 228,291.6 31.7% 225,337.1 31.1% 1.3% Asset Management 147,152.3 20.4% 151,031.7 20.8% (2.6%) Intelligent Manufacturing 29,192.7 4.1% 28,138.0 3.9% 3.7% Eliminations (7,933.4) (8,813.9) Total 712,292.6 100.0% 716,228.7 100.0% (0.5%) 11
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CORPORATE STRUCTURE OF MAIN BUSINESS 1 (AS AT 30 JUNE 2026) Pharmaceutical Brand Consumer Tourism & Leisure InsuranceDevices & Diagnosis Fosun Pharma 600196.SH 02196.HK 36.23% Henlius 02696.HK Luz Saúde5 (Portugal) 59.86% Shede Spirits 600702.SH Club Med (France) 100% Peak Reinsurance 86.71% Pramerica Fosun Life Insurance 50% Fosun United Health Insurance11 29.94% BCP (Portugal) BCP.LS 20.45% Atlantis Sanya10 100% Gland Pharma (India) GLAND Shanghai Zhuli6 (Fosun Care) 90.91% Jinhui Liquor 603919.SH Sinopharm 01099.HK Sanyuan Foods7 600429.SH 15.48% Fosun Sports (Luxembourg) 100% HAFS (Luxembourg) 98.90% Lanvin Group8 LANV.NYSE 71.92% Sisram (Israel) 01696.HK Yuyuan 600655.SH 61.93% Fosun Wealth 100% BFC 100% Fosun Capital 100% Shanghai Insight12 (Fosun RZ Capital) 100% 28 Liberty (USA) 100% IDERA (Japan) 98.00% PAREF (France) PAR.PA 59.60% Wansheng 603010.SH 29.79% Fosun Insurance Portugal (Portugal) 84.9892% Yong’an P&C Insurance 14.69% Healthcare Services & Consumption Asset Management (Investment) Asset Management (Property) Resources & Environment Technology & Intelligent Manufacturing Health2 Happiness 3 Wealth Intelligent Manufacturing4 Easun Technology13 80.32% Hainan Mining 601969.SH 47.82% ROC (Australia) St Hubert9 (France) 100% Baihe Jiayuan 72.53% Fosun Health 12
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Notes: 1. Unless otherwise specified in the following content, th is simplified corporate structure only illustrates the key investments of the Group. The equity percentage reflects the total direct shareholdings held by the Group, associates, joint ventures and limited partnerships managed by the G roup as at 30 June 2026. The companies marked in the solid line boxes are consolidated entities of the Group, and the c ompanies marked in the dotted-line boxes are non- consolidated entities of the Group. (Some non-core investme nts and operating companies are not fully reflected within this corporate structure). 2. The companies marked in the light-blue boxes are invested by Fosun Pharma. For specific information, please refer to the disclosure of Fosun Pharma. 3. The companies marked in the light-yellow boxes are invested by Yuyuan. For specific information, please refer to the disclosure of Yuyuan. 4. The company marked in the light-purple box is invested by Hainan Mining. For specific information, please refer to the disclosure of Hainan Mining. 5. Fosun Insurance Portugal held 59.86% equity interest in Luz Saúde. Therefore, the Group held 50.88% effective equity interest in Luz Saúde. 6. Shanghai Zhuli operates ‘‘Fosun Care ’’ brand. The Group through its wholly-own ed subsidiaries and its non-wholly- owned subsidiary held 87.35% equity interest and 3.55% e quity interest in Shanghai Zh uli respectively. The Group held 39.99% effective equity interest in such non-wholly -owned subsidiary. Therefore, the Group held 88.78% effective equity interest in Shanghai Zhuli. 7. The Group through its wholly-owned subsidiary and a consolidated fund under its management held 14.60% equity interest and 0.88% equity interest in Sa nyuan Foods respectively. The Group held 37.20% effective equity interest in such fund. Therefore, the Group held 14.93% effective equity interest in Sanyuan Foods. 8. The Company and its wholly-owned subsidiary held 67.09% equity interest in Lanvin Group, and Yuyuan through its wholly-owned subsidiary held 4.83% equity interest in Lanvin Group. Therefore, the Group held 70.08% effective equity interest in Lanvin Group. 9. The Group through a subsidiary in which the Group held 51% equity interest, held 100% equity interest in St Hubert SAS ( ‘‘St Hubert ’’). Therefore, the Group held 51% eff ective equity interest in St Hubert. 10. The Group through a subsidiary in which the Group held 98. 44% equity interest, held 100% equity interest in Atlantis Sanya. Therefore, the Group held 98.44% effe ctive equity interest in Atlantis Sanya. 11. The Group through its wholly-owned su bsidiary held 9.89% equity interest i n Fosun United Health Insurance. Fosun Pharma held 20.05% equity interest in Fosun United Health In surance. Therefore, the Group held 17.15% effective equity interest in Fosun United Health Insurance. 12. Shanghai Insight exclusively uses ‘‘Fosun RZ Capital ’’ brand. 13. The Group through its wholly-owned su bsidiaries held 42.36% equity intere st in Easun Technology. Additionally, the non-consolidated entities in which the Group participat ed in the investment held 37.96% equity interest in Easun Technology. 13
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HEALTH During the Reporting Period, the r evenue and profit attributable to owners of the parent of the Health segment were as follows: Unit: RMB million For the six months ended 30 June 2026 For the six months ended 30 June 2025 Change over the same period of last year Revenue 24,030.1 22,565.2 6.5% Profit attributable to owners of the parent 721.9 755.8 (4.5%) During the Reporting Period, the revenue of the H ealth segment amounted to RMB24,030.1 million, representing a year-on-year increase of 6.5%, mai nly due to the increase in revenue of Fosun Pharma and Luz Saúde. Profit attributable to owners o f the parent of the Health segment amounted to RMB721.9 million during the Reporting Period, repres enting a year-on-year decrease of 4.5%, which was mainly due to the reduced profit contributio n from Luz Saúde following the disposal of a 40% equity stake in the company by Fidelidade during the Reporting Period. Excludin g this one-off impact, the profit of the Health segment i ncreased by 4.3% year-on-year. Fosun Pharma As at the end of the Reporting Period, the Group held 36.23% equity interest in Fosun Pharma. During the Reporting Period, facing the dual p ressure from product price and exchange rate fluctuations, Fosun Pharma adhered to an innova tion driven and deep globalization strategy, maintaining steady growth in performance. Duri ng the Reporting Period, Fosun Pharma achieved a revenue of RMB20,377 million, representing a peri od-on-period increase of 4.90%. Excluding the impact of exchange rate fluctuations and calculate d on constant exchange rates, the period-on-period increase was 7.32%. Among which: revenue from Innovative Drugs increased by 13.84% period-on- period, accounting for 33.35% of the pharmaceutical manufacturing bus iness revenue, representing an increase of 2.12 percentage points compared wit h the same period of last year; overseas business revenue increased by 16.45% period-on-pe riod, with its proportion of Fosun Pharma ’s total revenue increasing to 31.30%, up by 3.11 percentage point s compared with the same period of last year. Fosun Pharma sustained R&D expenditure intensit y. During the Reporting Period, Fosun Pharma ’st o t a l R&D expenditure amounted to RMB3,247 million, repr esenting a period-on-period increase of 25.66%; R&D expenditure related to Innovative Drugs reache d RMB2,650 million, representing a period-on- period increase of 48.38%; R&D expenditure in Innovative Drugs accounted for 81.61% of Fosun Pharma ’s total R&D expenditure, representing a period- on-period increase of 12.50 percentage points, and accounted for 87.00% of the pharm aceutical manufacturing business ’s R&D expenditure, 14
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representing a period-on-period increase of 9.18 pe rcentage points. It mainly covered investments in pipelines such as HLX43, HLX22, GR1803 and FX R0906, as well as technology platforms including new generation small molecule drugs and radiophar maceuticals, with resour ces continuously tilting towards innovative drugs. Through diversified a nd multi-tiered innova tive R&D models such as independent R&D, co-development, licensed-in proj ects, fund incubation and i ndustrial investment, Fosun Pharma continuously enriched its innovative product matrix and steadily implemented its innovative transformation. During the Reporting Period, a total of 20 indications of 7 Innovative Drugs were approved for launch both domes tically and internationally, an d the new drug applications for 4 Innovative Drugs have been accepted, around 30 clin ical trial appli cations for Innovative Drugs were approved by domestic and overseas re gulatory authorities, with multiple core pipelines entering pivotal clinical stages. Looking ahead to the second half of 2026, Fosun Phar ma will maintain its focus on clinical needs, target the global market, uphold bei ng innovation-driven, accelerate inte rnationalizati on, and actively build an AI+ healthcare ecosystem. Henlius As at the end of the Reporting Period, the Gr oup held 63.23% equity interest in Henlius. During the Reporting Period, Henlius ’ total revenue increased by approximately 27.3% year-on-year to approximately RMB3,588.2 milli on. Such revenue was mainly from drug sales, R&D services provided to customers, and license income. Henlius ’ total profit was approximat ely RMB430.4 million for the six months ended 30 June 2026, representing an incr ease of approximately RMB40.3 million year-on- year, mainly due to the continuous increase in sale s volume of core commercialized products, the substantial growth in overseas commercialization pr ofit, and the expansion of R &D clinical activities. Within this, profit from overseas products (includi ng gross profit from overseas product supply and profit from royalty based on sales) amounted to ap proximately RMB59.5 million. During the Reporting Period, Henlius recognised R&D expe nditure of approximately RMB1,45 0.7 million, representing an increase of approximately RMB455.3 million as co mpared to the same period of last year. Such expenditure was primarily used to increase inve stment in innovative R&D projects, accelerating Henlius ’ innovation transformation. As of 20 August 2026, 10 products (41 indications) o f Henlius have been successfully approved for marketing in China, the United States, Europe, Cana da, Australia, Brazil, South Korea, Indonesia, the Dominican Republic and other countries/regions , including 7 products approved for marketing in multiple overseas markets, covering over 60 countri es/regions, benefiting over 1,100,000 patients around the world. During the Reporting Period, Henlius ’‘ ‘Go Global ’’ initiatives have yielded fruitful results. In January 2026, the Biologics License Application for HANBEITAI was accepted by the United States Food and Drug Administr ation, further demonstrating Henlius ’ outstanding capabilities in international registration and quality management. In April 2026, the marketing authorization application for HLX11 (trade name in Europe: POHERDY ®) was approved by the European Commission. The approved indicat ions cover all indications for w hich the reference products have been approved in the local market. In May and June 2026, HANSIZHUANG (trade name in Europe: 15
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Hetronifly ®) was approved in the European Union for thre e new indications, es ophageal squamous cell carcinoma (ESCC), non-squamous non-small cell l ung carcinoma (nsNSCLC), and squamous non-small cell lung carcinoma (sqNSCLC), f urther expanding the treatment la ndscape in the European market. Looking ahead to the second half of 2026, Henlius will continue to be guided by clinical needs, persist in deepening product innovation, and further cons olidate its internationalised capability of ‘‘integrating research, production and marketing ’’. Meanwhile, Henlius will actively deploy the in-de pth application of AI technology in the product R&D process, and accel erate the transformation of early R&D results. Gland Pharma As at the end of the Reporting Period, the Group held 51.77% equity interest in Gland Pharma. During the Reporting Period, Gland Pharma ’s1 revenue was RMB2,604 million, compared to RMB2,455 million in the same peri od last year; net profit was RMB392 million, compared to RMB269 million in the same period last year. During the Reporting Period, Gland Pharma launc hed 13 molecular drugs in the U.S. market and 2 molecular drugs in other regulat ed markets (including Europe, Aus tralia, New Zealand and Canada), demonstrating strong business momentum. In addition, at the beginning of August 2026, Gland P harma entered into a strategic manufacturing and supply agreement with a global pharmaceutical comp any. The product portfolio covers both oncology and non-oncology fields, with dosage forms incl uding vials, lyophilized powder for injection, ampoules, and pre-filled syringes, covering both conventional a nd complex injectable formulations. Once all products are commercialized, the annualize d revenue potential is expected to be approximately USD90 million to USD100 million. Looking ahead, Gl and Pharma will continue to focus on strategic initiatives aimed at accelerating long-term growth an d strengthening its diffe rentiated capabilities. Sisram As at the end of the Reporting Period, the Gr oup held 71.42% equity interest in Sisram. During the Reporting Period, Sisram ’s global sales and distribution net work generated total revenue of USD171.4 million, representing an increase of 3. 6% compared with the same period of last year. Revenue from international markets (excluding Nor th America) increased by 16.7% year-on-year to USD127.0 million, with the Asia Pacific ( ‘‘APAC ’’) region contributing a growth rate of 19.1%. This increase was partially offset by a decline in N orth American revenue amid continued market headwinds. Profit for the Reporti ng Period was USD1.1 million, compared with USD9.0 million in the same period of 2025. After adjustments for M&A-related and other transactions, adjusted net profit was USD5.0 million, compared with USD12.0 million in the same period of 2025. 1 The financial data for Gland Pharma is prepared in accordance with Indian Generally Accepted Accounting Principles and the figures include appraisa l appreciation and amortization of appraisal appreciation. 16
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During the Reporting Period, Sisram ’s energy-based device business del ivered sustained growth across international markets, underpinned by robust p erformance in the APAC region. The growth was primarily driven by continued momentum across k ey product families and a deepening commercial presence. Notable launches included the introduc tion of Soprano Titanium in Thailand in June 2026 and the rollout of ‘‘黑金牛奶光’’ (Black Gold Photofacial) in Chine se mainland in July 2026, further cementing Sisram ’s position in premium energy-based devices. The injectables business extende d its strong momentum as Sisram ’s second growth engine, delivering double-digit growth during the Reporting Pe riod. DAXXIFY achieved si gnificant commercial milestones in Chinese mainland, with cumulative ship ments to clinics surpassing 30,000 vials as of 30 June 2026, following its launch in January 2026. Du ring the Reporting Perio d, Profhilo maintained strong performance in Thailand. Sisram also achieved an important milestone in it s China localization str ategy. In June 2026, its manufacturing facility in Miyun, Beijing commenced operations, with the first locally produced energy- based device, Alma Rejuve, rolling off the pr oduction line. This marks a significant step in strengthening local supply chain effici ency, delivery responsiveness, and a fter-sales servic e capabilities, while supporting long-term growth across China and the APAC region. Looking ahead to the second half of 2026, Sisram ’s management will continue to drive business growth, with greater focus on profi tability recovery, cash conversion a nd operational efficiency. With a robust financial position, a diversified global footp rint and an unwavering commitment to operational excellence, Sisram is well-equipped to capitalize on the significant long-term opportunities within the rapidly evolving medical aesthetics market. Fosun Health Fosun Health takes medical care as its core and has established a deep business presence in the fields of medical group, intelligent medical care and insura nce empowerment. As at the end of the Reporting Period, Fosun Health controlled 18 medical instituti ons, such as general hospitals, specialised hospitals and clinics in the five major economic belts includi ng the Greater Bay Area, the Yangtze River Delta, the Jing-Jin-Ji (Beijing-Tianjin-Hebei), Cent ral China, and Sichuan and Chongqing, with a total of 6,470 authorized beds in the controlled medical inst itutions, and held a total of 8 internet hospital licences. In terms of the medical group, during the Reporti ng Period, Fosun Health continued to advance its internationalization. It has actively expanded int o markets such as Indonesia, Bangladesh, Mongolia, Hong Kong and Macao regions, and built an open, st able and professional international medical collaboration network. I n addition, the standalone medical buildin g of the International Medical Center of Foshan Fosun Chancheng Hospital was newly put into operation, with a planned capacity of 100 beds, establishing a full-process international medic al service closed-loop inte grating outpatient care, inpatient care, physical examinations and rehabil itation. Several of its medical institutions are designated hospitals for the ‘‘Hong Kong and Macao Medicine and Equipment Connect ’’, and nearly 100 innovative international drugs and medical de vices were introduced cumulatively as at the end of 17
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the Reporting Period. In terms of insurance empower ment, during the Reporting Period, Fosun Health continued to improve the commercial insurance opera tion system. Leveraging the specialty departments and cutting-edge medical technologies, it created diversified and customized innovative insurance payment solutions. As at the end of the Reporting Period, Fosun Health ’s controlled medical institutions had accumulatively signed agreements with over 55 domestic and international insurance institutions, and Foshan Fosun Chancheng Hospital , a controlled medical institution, was selected among the first batch of 25 pilot hospitals for int ernational medical services in Guangdong Province. Looking ahead to the second half of 2026, Fosun Health will focus on areas such as the Greater Bay Area, continue to enhance its specia lized service capabilities, accele rate medical technology innovation and application, build an excellent patient servic e experience, and drive high-quality growth in international healthcare, commercial insurance cooperation, ful l-lifecycle healt h management, AI- powered digitalization, and other areas, while furth er strengthening regional i ntegrated operations and the development of online-offline integration. Fosun Care (Shanghai Zhuli) As at the end of the Reporting Period, the Group held 90.91% equity interest in Shanghai Zhuli. Since its establishment in 2012, Fosun Care has m aintained a refined ope rational model with high standards, high quality and high efficiency. As at the end of the Reporting Period, Fosun Care has invested in and operated senior care and nursing in stitutions in nearly 10 ci ties including Beijing, Shanghai, Suzhou, Tianjin, Wuha n, Chongqing, with a total of over 15,000 beds held. During the Reporting Period, the revenue of Fo sun Care amounted to RMB104 million 2. In terms of ecosystem synergy, Fosun Care continue s to strengthen its cooperation with insurance companies under the Group. The ‘‘large-sum annuity insurance + se nior community re sidency rights ’’ insurance product in cooperation with Pramerica Fosun Life Insurance and Fosun United Health Insurance, has boosted large-sum insurance sales , achieving a new business premium scale of RMB4.5 billion during the Reporting Period. Aga inst the backdrop of insurance companies ’ urgent need for high-quality benefit products to empower insurance p roduct sales, Fosun Care is currently cooperating with both in-Group and external in surance companies to innovate insu rance-linked benefit products. Through the development of benefit products cove ring long-term residence service rights, travel residence service rights, home-based care service rights, and health management service, it aims to transform the health and wellness community into marketing scenarios for insurance companies, empowering insurance companies to sell policies, fu lfilling the full life cycle health care needs of C- end customers, and achieving a deep inte gration of insurance and health care. In the future, Fosun Care will position itself strategically as a ‘‘valuable senior care asset manager ’’, and focusing on the full chain of ‘‘fundraising, investment, const ruction, management and exit ’’,w i l l leverage Fosun ’s ecosystem resources in finance, insurance, healthcare, and tourism & leisure to expand investment and financing channels and refine its senior care asset management system. At the same 2 Due to the impact of non-recurring events such as the sale of heavy asset inventories in the same period last year and equity disposal in the Reporting Period, Fosun Care ’s consolidated revenue decreased. 18
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time, Fosun Care will focus on enhancing the quality and efficiency of its operational services, and guided by the philosophy of ‘‘senior care services with warmth ’’, build a professional and refined service system centered on the full life cycle needs of the elderly, driving the coordinated enhancement of both asset value and customer value. HAPPINESS During the Reporting Period, the revenue and loss att ributable to owners of the parent of the Happiness segment were as follows: Unit: RMB million For the six months ended 30 June 2026 For the six months ended 30 June 2025 Change over the same period of last year Revenue 31,628.0 33,721.4 (6.2%) Loss attributable to owners of the parent (519.6) (434.6) (19.6%) During the Reporting Period, the revenue of the Hap piness segment amounted to RMB31,628.0 million, representing a year-on-year decrease of 6.2%, mainly attributable to consumer market pressures during the reporting period, which led to revenue declin es at Yuyuan and Lanvin Group. During the Reporting Period, the loss attributable to owners of the paren t of the Happiness segment was RMB519.6 million, representing an increase in loss of 19.6% as comp ared with the same period in 2025, primarily due to increased losses from non-core businesses. Yuyuan As at the end of the Reporting Period, the Gr oup held 61.93% equity interest in Yuyuan. During the Reporting Period, Yuyuan ’s revenue amounted to RMB17.02 billion, representing a year-on- year decrease of 11%; net profit attributable to s hareholders of Yuyuan recorded RMB0.16 billion, representing a year-on-year increase of 157%. Du ring the Reporting Period, Yuyuan actively drove business transformation and innova tion in its industrial operations, ac celerating the optimization of its product mix and channel quality. During the Reporting Period, Jewelry Fashion Business of Yuyuan, recorded revenue of RMB10.61 billion, with gross profit margin significantly impr oving by 1.26 percentage poi nts year-on-year, mainly attributable to the active adjus tment of its business and sales mix . In the first half of 2026, products priced by the piece (as opposed to by wei ght) accounted for over 18% of Laomiao ’s sales, representing a significant increase compared to 2025. Laomia o has expanded its stores across Hong Kong, Macao, overseas markets and duty-free channels to 15 outlets . Going forward, Laomiao will continue to deepen its presence in Southeast Asia and accelerate its expansion into markets such as Hong Kong, Macao, 19
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Malaysia, Thailand and Singapore. Yuyuan Foods & D ining Group focused on its time-honored brands including Songhelou, Nanxiang and Songyuelou, whil e Catering Business of Laomiao continued to adjust underperforming stores and operating models. Songhelou advan ced loss reduction and efficiency improvement by optimizing its single-store noodl e restaurant model, expanding franchising, and transforming its full-service din ing business toward an asset-light model, signing agreements for 26 franchise stores in the first half o f 2026. Meanwhile, the globalizati on of its time-honored dining IPs continued to advance, with Nanxiang Steamed Bun Restaurant ’s first store in Thailand officially opening in January 2026. Yuyuan Tourist Mart ’s featured marketing campaigns continued to ignite the Yuyuan Super Scene. Phenomenal events such as the ‘‘Yuyuan Lantern Festival ’’ and ‘‘Blooming Grand Yuyuan ’’ consistently broke through audience silo s, attracting diverse and cross-sector audiences. Phase I of Yuyuan Tourist Mart recor ded gross merchandise volume (GMV) of RMB2.25 billion in the first half of 2026, wit h visitor footfall of 19.19 milli on, while occupancy remained at a high level of 98%. Construction of the South Block of Phase II of Yuyuan Tourist Mart is progressing smoothly, while the planning scheme for the Nort h Block has been approved by the National Cultural Heritage Administration, with c onstruction scheduled to commence in the second half of the year. Looking ahead to the second half of 2026, Yuyuan wil l continue to deepen the implementation of its top-level strategy of ‘‘Oriental Lifestyle Aesthetics ’’, taking intangible cultural heritage (ICH) as a key lever for execution. Leveraging its online-to-offli ne, all-channel platform resources and connecting with Greater Yuyuan ’s physical commercial venues, and centering on customer needs, consumer experience and user satisfaction, Yuyuan will unlock the cult ural premium, content traffic and IP-derivative potential embedded in intangible cultural heritage, ef fectively converting cultu ral value into commercial value and unleashing the role of cultural supply in d riving consumption. Simultaneously, Yuyuan will continue to pursue ‘‘business streamlining ’’ and ‘‘asset-light and collaborating with key partners ’’, focusing on its core industries to empower the development of its main business. Shede Spirits As at the end of the Reporting Period, Yuyuan held 30.32% equity interest in Shede Spirits through Sichuan Tuopai Shede Group Co., Ltd.. During the Reporting Period, the baijiu (Chinese li quor) industry as a whole remained in an adjustment phase, with an inventory-heavy competitive land scape persisting and consumption momentum remaining weak. Competition between traditional a nd emerging channels intensified, leading to continued pressure on sales of baijiu products. In r esponse to these industry ch allenges, Shede Spirits proactively implemented a ‘‘volume control and price support ’’ strategy, moderately controlling shipments while actively support ing distributors in destocking. At the same time, Shede Spirits remained committed to a long-term approach, fur ther strengthening its f undamental marketing initiatives and stepping up cons umer engagement efforts, with ma rketing investment periodically increased, resulting in selling expenses remaining a t a relatively high level in the first half of 2026. As a result of these combined factors, Shede Spi rits recorded revenue of RMB2,286.90 million, representing a year-on-year decrease of 15.34%; net profit attributable to owners of Shede Spirits was RMB145.13 million, representing a year-on-year de crease of 67.26%. In terms of baijiu products, revenue was RMB2,037.44 million. Among them, rev enue from mid-to-hi gh-end baijiu products 20
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amounted to RMB1,539.24 million, while rev enue from regular baijiu products amounted to RMB498.20 million. As at the end of the Reporting Period, Shede Spirits had a total of 2,453 distributors. During the Reporting Period, in terms of sales, Shede Spirits deeply cultivated the mid-to-high-end as well as the mass baijiu markets, concentrating on it s traditional advantageous markets such as Sichuan, Hebei, Shandong, Henan and Northeast China, while gradually advancing the nationwide layout of its brand and comprehensively driving the upgra de and innovation of its marketing model featuring ‘‘IP- based branding, scenario-based terminals, comm unity-based consumers and digitalized actions ’’.I n terms of operational management, Shede Spirit s focused on key markets, key customers and key channels. Through refined operations, it continued t o implement tiered and categorized management of distributors in an effort to increase regional market s hare; strengthened its C-end-first strategy and stepped up consumer cultivation, while continuously penetrating high-end cir cles through cooperation with the Yabuli Forum, the ‘‘Premium Baijiu Enters Prestigious Enterprises ’’ campaign and other activities; and continuously explor ed the potential of low-alcohol ba ijiu, actively embracing trendy drinking, cocktail-mixing and social gathering scen arios in an effort to break through and expand its reach. Meanwhile, Shede Spirits deeply implemente d its internationalizati on strategy, continuing to advance activities such as the ‘‘Shede Aged Baijiu Festival ’’, ‘‘Gifting Shede to Global Guests ’’ and the ‘‘Shede Global Wisdom Elite Club ’’, and had entered 43 countries a nd regions as well as nearly 100 duty-free stores as at the end of the Reporting Period. Looking ahead to the second half of 2026, Shede Spirits will maintain its strategic focus and adhere to the aged baijiu strategy as the cornerstone, driving fo rward the multi-brand strategy, youth-orientation strategy and internationa lization strategy in parallel while c ontinuously evolving, so as to drive the high-quality and sustainable de velopment of Shede Spirits. Club Med As at the end of the Reporting Period, the Group held 100% equity interest in Club Med. Club Med is a global leader in premium, experience-ori ented all-inclusive vacations for families and couples alike, offering a diversifi ed portfolio of premium resort products across multiple scenarios, including mountain-and-ski and s un-and-beach destinations. As at the end of the Reporting Period, Club Med has established a global sales network spa nning more than 40 countries and regions across six continents. Club Med provides global customers with premium all-inclusive vacation products and services, including accommodation, gourmet cui sine, premium beverage s, sports and enriching activities, childcare services and local cultural expe riences and, where applicable, related transportation services, catering to the diversif ied needs of families, couples, corporate clients and other customer groups. Club Med continued to advance its global destina tion footprint and resort experience upgrades, with Club Med Urban Oasis Hangzhou Longwu Resort o fficially opening in April 2026 and Club Med South Africa Beach & Safari Resort soft opening in July 2026. 21
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Looking ahead to the second half of 2026, Club Med will s trengthen its global opera tional capabilities, drive product-led strategies to meet customer needs, actively advance AI implementation, and deliver exceptional vacation experiences. Atlantis Sanya As at the end of the Reporting Period, the Group held 100% equity interest in Atlantis Sanya. During the Reporting Period, Atlantis Sanya record ed operating revenue of over RMB0.85 billion, with an average occupancy rate by room exceeding 87%. T he proportion of international tourists continued to rise. The Atlantis Sanya Project ( 三亞亞特蘭蒂斯項目) is located on the Haitang Bay National Coast of Sanya, Hainan Province, the PRC. The Company intends to spin off and separately list the Atlantis Sanya Project on the SSE by way of a PRC commercial r eal estate REITs structure, with the Atlantis Sanya Project serving as the underlying asset o f the fund. In March 2026, the Group submitted the application materials in relation to the registration and listing of the fund and the listing of the units of such fund to the China Securities Regulatory Co mmission and the SSE, and received the notice of acceptance and feedback comments. As at the end of the Reporting Period, such spin-off and listing remained subject to the review and/or approval of the China Securities Regulat ory Commission and the SSE. Lanvin Group As at the end of the Reporting Period, the Group held 71.92% equity interest in Lanvin Group. During the Reporting Period, Lanvi n Group continued to optimize its brand portfolio and operating model, including the selective c losure of underperforming stores, optimization of core brand organizational structures and completion of the dis posal of the Caruso business, further strengthening its focus on the development of core luxury bra nds. Revenue from continuing operations 3 was EUR100.8 million, representing a y ear-on-year decrease of 12.9%, pri marily reflecting the revenue impact of the retail network optimizatio n and disposal of the non-core businesses. Despite continued pressure on revenue, Lanvin Group ’s overall performance improved, with net loss during the Reporting Period narrowing from EUR86 .8 million in the same pe riod last year to EUR65.6 million, a year-on-year decrease of EUR21.2 mi llion, or approximately 24.4%. The improvement primarily reflected the progr essive positive impact of cost control measures and enhanced organizational and operati onal efficiency, while the overall mark et environment remained challenging. 3 In February 2026, Lanvin Group announced the strategic carve-out of Caruso business. As at the end of the Reporting Period, Caruso is no longer part of Lanvin Group ’s consolidated financial statements. Revenue figures presented in this section exclude Caruso and reflect continuing operations only, and are preliminary and unaudited. 22
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During the Reporting Period, at the brand level, La nvin made positive progress in its repositioning, with like-for-like sales growth in directly operated stores and positi ve reception to its Fall/Winter 2026 Paris runway show. Wolford continued its transf ormation by expanding pr oduct categories and exploring licensing, supply chain an d e-commerce opportunities outs ide the European market. St. John advanced its repositioni ng under new leadership, with e-comme rce sales up 31% (in USD) year-on-year and new collections expected to launch in the second half of 2026. Sergio Rossi completed the disposal of the controlling interest in its manufacturing faci lity. Overall, Lanvin Group continued its transition toward an asset-light operating model while evalua ting strategic alternatives to enhance long-term shareholder value. Looking ahead to the second half of 2026, Lanvin Gro up will continue to exec ute its transformation initiatives, focusing on the development of its core b rands, strengthening their presence in key markets and prudently exploring a sset-light and strategic cooperation opportunities. Through continued product innovation and operational enhancement, Lanvin G roup remains focused on strengthening brand competitiveness and long-term growth capabilities. WEALTH The Group ’s Wealth segment includes two major sectors: Insurance and Asset Management (property and investment). INSURANCE During the Reporting Period, the revenue and profit attributable to owners of the parent of the Insurance sector were as follows: Unit: RMB million For the six months ended 30 June 2026 For the six months ended 30 June 2025 Change over the same period of last year Revenue 22,806.8 20,890.3 9.2% Profit attributable to owners of the parent 1,245.2 1,217.9 2.2% During the Reporting Period, the revenue of the I nsurance sector amount ed to RMB22,806.8 million, representing an increase of 9.2% as compared to the same period of last year, mainly due to revenue increase from Fosun Insurance Portugal and Peak Rein surance. The profit attributable to owners of the parent of the Insurance sector was RMB1,245.2 mil lion during the Reporting Period, increasing from RMB1,217.9 million in the same period of 2025, mainly d ue to the significant rise in operating profits driven by the strong growth of profits of Fosun Insur ance Portugal and Pramerica Fosun Life Insurance, though this was partially offset by a narro wing of investment income due to the Group ’s asset exits. 23
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Fosun Insurance Portugal As at the end of the Reporting Period, the Group held 84.9892% equity interest in Fosun Insurance Portugal. During the Reporting Period, Fosun Insurance Portugal ’s total gross written premiums ( ‘‘GWP’’) reached EUR3,877 million, an increase of 18.5% y ear-on-year. Consolidated Non-life GWP amounted to EUR1,811 million, an increase of 6.0% year-on-y e a r ,m a i n l yd r i v e nb ya1 0 . 6 %g r o w t hi nt h eM o t o r business. Consolidated Life GWP were EUR2,066 mill ion, an increase of 32.2% year-on-year, driven by Portuguese and international operations ’ Life financial product sales expansion. During the Reporting Period, Fosun Insurance Portugal ’s insurance contract revenue reached EUR2,062 million, an increase of 4.5% year-on-year. This met ric differs from GWP in that it excludes unit-linked business and guaranteed Life financ ial products, that do not involve si gnificant insurance risk. Non-Life insurance contract revenue grew 5.7% year-on-ye ar mainly driven by the Portuguese market. In contrast, Life insurance contra ct revenue declined 1.6% year-on- year, reflecting the indicator ’s exclusion of guaranteed Life finan cial products, which experienced s trong growth during the Reporting Period. During the Reporting Period, Fosun Insurance Portuga l strengthened its leadership position in Portugal, achieving an overall market share of 30.1%. Inter national operations, a central element of Fosun Insurance Portugal ’s corporate strategy, accounted for 26.7% o f total consolidated business during the Reporting Period. Overseas GWP reached EUR1,03 5 million, 49.0% from Non-life lines of business and 51.0% from Life lines of business. Fosun Insurance Portugal ’s profit attributable to owners of the p arent reached EUR165 million during the Reporting Period, an increase of 23.8% year-on-y ear, notwithstanding loss es related to the series of storms that affected Portugal in t he early months of the year. The impact of these events was largely mitigated by Fosun Insurance Portugal ’s reinsurance programme. In February 2026, Fosun Insurance Portugal success fully completed a liability management exercise, with the issuance of a new EUR500 million Tier 2 note and the concurrent tender for its EUR500 million 2021 Tier 2 note. The new note structure, w ith a 20-year tenor and a first call date 10 years after issuance, further optim izes Fosun Insurance Portugal ’s capital structure. In the second half of 2026, Fosun Insurance Portuga l will strive to maintain the strong commercial momentum achieved during the Reporting Period, on the back of the strength of its product offering and its multichannel distribution capabilities. In addition, Fosun Ins urance Portugal will remain focused on continuing enhancing technical profitability supported by discipl ined underwriting, a diversified business mix, and sound reinsurance protection unde rpinned by an effective risk selection process. 24
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Peak Reinsurance As at the end of the Reporting Period, the Group he ld 86.71% equity interest in Peak Reinsurance. During the Reporting Period, Peak Reinsurance delive red a stable performance, reflecting its superior client base, disciplined underwri ting and global business footprint. Peak Reinsurance achieved reinsurance revenue 4 of USD825.7 million and GWP of USD1,186.0 m illion, representing year-on-year increases of 25.0% and 11.8%, respectively. The reins urance service result remained stable at USD70.4 million. Backed by its solid financial stren gth and strengthening market position, Moody ’s upgraded Peak Reinsurance ’s Insurance Financial Strength Rating (IFSR) to A3 from Baa1 in April 2026, with a stable outlook. During the Reporting Period, Peak Reinsurance conti nued to deepen its global div ersification strategy across geographies and lines of business, strengthe ning its position in emerging markets such as India, while broadening its reach in mature markets acr oss Europe and North America. Driven by continuous product innovation and a diversified business portf olio, Peak Reinsurance de livered solid premium growth alongside healthy profitability. These resul ts were underpinned by strict underwriting discipline, consistent operational efficien cy and prudent risk management. In terms of financial performance, Peak Reinsuranc e recorded a net profit after tax of USD89.7 million. Net assets increased to USD1.76 billion, and the sol vency ratio was maintained at a healthy level. Strong retained earnings further strengthened Peak Reinsurance ’s robust capital position and financial flexibility, driving its lo ng-term growth ambitions. Looking ahead, Peak Reinsurance will continue to maintain prudent underwriting discipline, sound capital management and a diversified portfolio to navigate evolving market conditions. Supported by its strong capital base and a diversified global platf orm, Peak Reinsurance remains well positioned to pursue sustainable and profitable growth. Pramerica Fosun Life Insurance As at the end of the Reporting Period, the Group he ld 50% equity interest in Pramerica Fosun Life Insurance. During the Reporting Period, Pramerica Fosun Life In surance delivered steady and improving financial performance: it recorded a scale premium of RMB8,380 million, representing a year-on-year increase of 52.2%; a net income of RMB0.78 billion, representin g a year-on-year increase of 270%; and achieved a comprehensive investment yield 5 of 3.99% and a financial investment yield of 3.60%. 4 All data are based on IFRS 17, except for gross written premiums, which are based on IFRS 4. All figures are unaudited. 5 The investment yield is calculated based on the management standards of the consolidated financial statements of Pramerica Fosun Life Insurance. 25
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During the Reporting Period, Pramerica Fosun Life Insurance adhered to the high-quality development strategy, followed the development guideline of pro fiting and value-growing, actively seized market opportunities, continuously enhanc e business quality, optimized bus iness structure, continued to promote the construction of divers ified pipelines, strengthened pr oduct innovation, consolidated market reputation advantages and volume, focused on long -term value growth, and a continuous deepening of high-value businesses in recent years has laid a so lid foundation for Prameri ca Fosun Life Insurance ’s sustainable development and profit ability. At the same time, Pramerica Fosun Life Insurance has fully leveraged its shareholder resources to strengthen its unique differe ntiated competitive advantages amidst intensifying commoditized c ompetition through the innovative ‘‘insurance + ecosystem ’’ service model. During the Reporting Period, Pramerica Fosun Life Insurance achieved a total of 5,844 policies for senior community, representing a year-on-year increase of 48.4%. The corresponding total premium amounted to RMB5,429 million, continuously prov iding customers with high-quality pension entitlement protection. Looking forward to the second half of 2026, Pramerica Fosun Life Insurance will continue to adhere to the business philosophy of ‘‘long-term value growth ’’,r e g a r d ‘‘guarding the future you want ’’ as its mission, integrate the high-qua lity development concepts of ‘‘entrepreneurship, innovation and creation ’’, and seize opportunities in the changing mark et with agility to expand the business and service coverage of the bank and post office agency c hannels and professional broker agency channels. Pramerica Fosun Life Insurance will continue to pr omote the steady and high-quality development of the agent force, constantly explore micro-innovati on of the product system, and continuously strengthen the differentiated competitive capabilities of ‘‘insurance + ecosystem ’’ as well as asset-liability management. It will strike a balance among enterpris e scale, value, profitability and risk to achieve sustained, healthy and stable development. Fosun United Health Insurance As at the end of the Reporting Period, the Group he ld 29.94% equity interest in Fosun United Health Insurance. During the Reporting Period, Fosun United Healt h Insurance leveraged its ecosystem, customer operation, innovation dr iven strategies, technologi cal innovation and digital i ntelligence, realizing revenue from the insurance business of RMB4,959.8 m illion, representing a year-on-year increase of 36.2%, and achieving net profit 6 of RMB571.7 million. As at the end of the Reporting Period, Fosun United Health Insurance had served over 7.54 million customers in aggregate, representing an increase of 2.7% compared to the end of 2025. Fosun United Health Insurance remains steadfastly committed to the health ins urance sector, gaining deep insight into the diversified h ealthcare needs of Chinese families and enterprises clients. It has professionally developed a series of specialized heal th protection products. Sin ce its establishment, Fosun United Health Insurance has provided ove r 240 distinctive insurance products and health management services to Chinese families and enterp rises clients, including 25 products with new sales volume exceeding RMB10 million dur ing the Reporting Period. Fosun Un ited Health Insurance actively 6 Due to changes in accounting standards, the comparative data of net profit is not comparable. 26
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promoted its ‘‘Insurance + Senior Care ’’ ecosystem synergy strategy, achi eving a total of 3,484 policies for senior community during the Reporting Perio d, corresponding to total premiums of RMB2,457.0 million, representing a yea r-on-year increase of 50.7%. Looking ahead to the second half of 2026, guided by its mission of ‘‘protecting the healthy life of hundreds of millions of Chinese families ’’ and adhering to the ‘‘insurance + service ’’ core principle, Fosun United Health Insurance will focus on pat ients and the elderly popu lation, and develop a differentiated full-lifecycle heal th management system, thereby creati ng greater value for customers and shareholders and driving the sustained and stead y development of Fosun United Health Insurance. ASSET MANAGEMENT During the Reporting Period, the revenue and profit/ (loss) attributable to owners of the parent of the Asset Management sector were as follows: Unit: RMB million For the six months ended 30 June 2026 For the six months ended 30 June 2025 Change over the same period of last year Revenue 4,500.2 6,938.0 (35.1%) Profit/(Loss) attributable to owners of the parent 86.9 (974.8) 108.9% During the Reporting Period, the revenue of the Asset Management sector decreased by 35.1% year-on- year, which was mainly due to the deconsolidation o f HAL following the completion of its disposal in the first half of 2025. Excluding this impact, reve nue for the Asset Management segment increased by 3.2%. During the Reporting Period, the Asset Manage ment sector turned losses into profits, with a net loss of RMB974.8 million in the same period last ye ar to a net profit attributable to owners of the parent company was RMB86.9 mill ion, representing a year-on- year increase of 108.9%. This improvement was primarily driven by a year-on- year increase in operating profit and better performance in the capital markets co mpared to the same period last year. Fosun Capital As at the end of the Reporting Period, the Group held 100% equity interest in Fosun Capital. Since its establishment, Fosun Capital had invested in over 100 enterprises, and successfully exited from investments in nearly 80 enterprises through d omestic or overseas listings, equity transfer and other means. As at the end of the Reporting Peri od, Fosun Capital had a total of 34 funds under management, with an asset size under managemen t of over RMB25 billion. During the Reporting Period, among the enterprises invested by Fosun Capital, 12 of Fosun Capital ’s portfolio companies submitted IPO applications, 2 of which were succe ssfully listed, and one of which was successfully listed indirectly through a share-sw ap acquisition of a listed company. 27
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Looking ahead, relying on its excellent investment capabilities, high-quality post-investment services and the Group ’s strong global industry integration capabilit ies, Fosun Capital will empower its portfolio enterprises in terms of business re sources and industrial depth and help the enterprises achieve long- term value creation and sustainable development. Fosun RZ Capital (Shanghai Insight) As at the end of the Reporting Period, the Group held 100% equity interest in Shanghai Insight. As at the end of the Reporting Period, the total assets under management of Fosun RZ Capital exceeded RMB10 billion, having invested in over 100 hi gh-quality enterprises. During the Reporting Period, Fosun RZ Capital made new investments in 1 2 high-quality enterprises in the fields of AI, embodied AI, intelligent manufact uring, and overseas expansion, achieved the listing of one portfolio company on the Main Board of the Hong Kong Stock E xchange, exited 6 investments, and completed the closing of one RMB continuation fund. Looking ahead, as one of the most important components of Fosun ’s asset management segment, Fosun RZ Capital will focus on early-to-mid-stage inve stments in hard tech sectors such as AI and embodied AI. By connecting with first-class technology ente rprises through investment, Fosun RZ Capital will cultivate an AI+ industry ecosystem and continue empowering the development of the four business segments of the Group. HAFS As at the end of the Reporting Period, the G roup held 98.90% equity interest in HAFS. During the Reporting Period, HAFS ’s total revenue increased by 8.4% year-on-year to EUR41.8 million. Looking ahead, HAFS plans to further expa nd its asset servicing business by focusing on asset-light operations and explorin g opportunities for collaborat ion within the Group, thereby continuing to enhance the Group ’s capabilities in asset servicing. BCP As at the end of the Reporting Period, the G roup held 20.45% equity interest in BCP. During the Reporting Period, BCP delivered a solid p erformance across both its domestic Portuguese market and international operations. Consol idated net income amounted to EUR565.8 million, representing a year-on-year increase of 12.7% co mpared to EUR502.3 million in the same period of last year. Net income generated in Portugal reach ed EUR470.2 million, increasing by 10.9% year-on- year. Net income in Poland and Mozambique amo unted to EUR166.9 million and EUR13.9 million, respectively. In the first half of 2026, BCP ’s return on equity (ROE) rose to 14.6%. During the Reporting Period, BCP maintained a r obust balance sheet. As at the end of the Reporting Period, consolidated tota l assets amounted to EUR114.8 billion, repr esenting a year-on-year increase of 8.9%. BCP ’s total capital ratio and Common Equity Tier 1 (CET1) ratio reached 19.3% and 15.1%, respectively, representing decreases of 1.0 percen tage point and 1.1 percentage points compared with the end of June 2025. Nevertheless, both ratios r emained well above the applicable regulatory requirements. 28
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During the Reporting Period, leveraging its high-qu ality and flexible business model, BCP continued to demonstrate strong growth momentum across its ma rkets and steadily expanded its customer base. The total number of active customers exceeded 7.4 mil lion. In particular, the number of mobile customers increased by 8% year-on-year, and mobile custom ers accounted for 75% of the total active customer base as at the end of the Reporting Period. Looking ahead, BCP will continue to deliver strong performance, maintain ample liquidity and a solid capital position, while creatin g long-term value together with i ts customers and shareholders. The Bund Finance Center ( ‘‘BFC’’) As at the end of the Reporting Period, the Group held 100% equity interest in BFC. Located at 600 Zhongshan No. 2 Road(E), Shanghai, China, the Bund Finance Center is a real estate benchmark project of the Group and Bund Fashion Community in the core area of the Bund in Shanghai. The total gross floor area of the Bund Fina nce Center is over 420,000 square meters. During the Reporting Period, BFC recorded total opera ting revenue of RMB312.9 million, representing a decrease of 14.8% from the same period of 20 25; operating EBITDA was RMB176.1 million, a decrease of 18.9% compared to the same period of 202 5, which was partly due to the decrease in rental income attributable to the reduced leasable area following the sale of certain floors. During the Reporting Period, the Bund Financ e Center welcomed the opening of many brands, including DaDong and TZ HOUSE. As one of the core a reas of the Shanghai International Jewelry & Style District, BFC Glamor Bund International Desig ner Jewelry Zone has offic ially opened, attracting a large number of high-popularity jewelry brands i ncluding CIGALONG to settle in as the first batch, creating a new highland for the de velopment of the jewelry industr y. As a pet-friendly landmark in Shanghai, the Bund Finance Center ’s Bund Fluffy Club has introduced many high-profile new pet- related stores, including Ukitchen Bistro. It offers o ne-stop services covering fresh pet food, retail and experience, building a new harmonious play space f or humans and pets. BFC heightened its efforts both online and offline, adding a pproximately 88,000 members. As at the end of the Reporting Period, the total number of members reached approximately 1. 63 million. In respect of offline operations, the Bund Finance Center launched highlighted activi ties, including the POP MART Spring Festival Carnival of the Shanghai Yuyuan Lantern Festival , Shanghai International Flower Show and G-Dragon 818 BLOOM national debut pop-up. By creating its own IP festivals and introducing internationally renowned IP, the Bund Finance Center accurately r eached the young and trendy customers, building an ‘‘international showcase ’’ that integrates ancient and modern elements and connects Chinese and Western cultures. Looking ahead, Bund Finance Center will introduce the Group ’s excellent industry resources based on current consumer demands, providing in-depth services to families for their aspirations of a better life. Focusing on four major categories of fashion, pet- friendly, art and culture, and food and wine, Bund Finance Center aims to pos ition the area as Shanghai ’s new urban landmark. 29
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INTELLIGENT MANUFACTURING During the Reporting Period, the revenue and profit attributable to owners of the parent of the Intelligent Manufacturing segment were as follows: Unit: RMB million For the six months ended 30 June 2026 For the six months ended 30 June 2025 Change over the same period of last year Revenue 4,610.2 4,021.3 14.6% Profit attributable to owners of the parent 197.3 137.8 43.2% During the Reporting Period, the revenue of the In telligent Manufacturing segment amounted to RMB4,610.2 million, representing a year-on-year increase of 14.6%, which was mainly driven by revenue increases at Hainan Mining and Wansheng. The profit attributable to owners of the parent amounted to RMB197.3 million, representing a yea r-on-year increase of 43. 2%, mainly due to the profit increase of Hainan Mining. Hainan Mining As at the end of the Reporting Period, the Group held 47.82% equity interest in Hainan Mining. Hainan Mining focused on the most upstream resour ce industries, mainly engaged in the exploration, development, mining, processing an d sales of strategic mineral resour ces. During the Reporting Period, Hainan Mining seized the market opportunity arisin g from the rebound in lithium salt prices to expand the production and sales scale of lithium hydr oxide products, and benefited from the rise in international oil prices, achieving structural br eakthroughs and high-quality growth in its operating performance. During the Reporti ng Period, Hainan Mining recorded revenue of RMB2,719.13 million, representing a year-on-year increase of 12.58%; net p r o f i ta t t r i b u t a b l et oo w n e r so fH a i n a nM i n i n go f RMB514.47 million, representing a y ear-on-year increase of 83.39%. During the Reporting Period, Hainan Mining steadily advanced the transf ormation of its traditional iron ore and oil & gas businesses towards upstream new en ergy businesses. In terms of the upstream lithium resources business, Hainan Mining achieved a closed-loop integrated industrial chain of ‘‘self-owned high-quality mines + high-quality a dvanced processing production lines ’’. During the Reporting Period, an aggregate of 70,000 tonnes of lithium concentr ate from the Bougouni lithium mine in Mali, Africa has been shipped to Hainan. Hainan Mining dedicated f ull efforts to ramping up lithium salt production and achieving designed capacit y, with lithium hydroxide outp ut reaching 8,000 tonnes, while successfully gaining entry into the qualified su pplier systems of leading domestic downstream customers. In addition, the lithi um carbonation capex project was completed at the end of the Reporting Period, and the existing production line is now capable of flexibly switc hing between lithium hydroxide 30
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and lithium carbonate. In terms of the oil & gas busin ess, Hainan Mining maintained high production at its producing oil and gas fields, achieving 6,424 thou sand barrels of oil & gas wo rking interest during the Reporting Period, representi ng a year-on-year increase of 6.31%. Meanwhile, the development project in the western area of the Weizhou 10 – 3 oilfield was put into production, providing support for the sound medium-to-long-term development of t he oil & gas business. In terms of the iron ore business, lump ore product maintained a relatively high gross profit margin of over 47%. At the same time, Hainan Mining seized the opportunity arisin g from the rise in the price of the by-product sulphur concentrate to actively expand production and sales , generating additional net profit of approximately RMB2.97 million during the Reporting Period. In terms of shareholder returns, Hainan Mining pu blished the Shareholder Return Plan for the Next Three Years (2026-2028), specifyin g that the annual cash dividend ratio shall not be less than 30% of the net profit attributable to owners of Hainan Mining for the relevant ye ar, and that, in principle, profit distribution shall be made twice a year. During the Re porting Period, Hainan Mining distributed a total cash dividend of RMB159 million. Looking ahead to the second half of 2026, Hainan M ining will seize the favorable window of rising prices for its major products, maintain efficient production and operations, and vigorously advance the acquisition of the control of Fengrui Fluorine through combination of share issuance and cash payment, so as to further expand its business scale in the fluorite mining sector. Meanwhile, guided by its ‘‘15th Five-Year Strategic Plan ’’ and adhering to ‘‘consolidating the foundatio n while exploring new growth ’’ as its overall business policy, Hainan Mining will steadily advance towards its positioning goal of becoming ‘‘a leading resources industrial group anc hored by traditional resources and led by breakthroughs in new growth tracks ’’. Wansheng As at the end of the Reporting Period, the Gr oup held 29.79% equity interest in Wansheng. During the Reporting Period, the revenue of Wanshe ng was RMB1,967.53 million, representing a year- on-year increase of 21.22%, which was mainly due to the year-on-year increase in the sales volume of its major products; the net profit attributable to owners of Wansheng was RMB2.17 million, representing a year-on-year decrease of 91.77%, mai nly attributable to intense market competition in the polymer functional additives industry which led t o a year-on-year decrease in gross profit per tonne of products, compounded by an increase in exchange lo sses year-on-year as a r esult of the continued depreciation of foreign c urrencies against RMB dur ing the Reporting Period. In terms of market expansion, the total sales volume of Wansheng ’s major products during the Reporting Period reached 140,700 tonnes, represen ting a year-on-year increase of 33.52%, among which the sales volume of functional additives for po lymers, organic amines, coating additives, and raw materials and intermediates increased by 19.2 8%, 29.92%, 17.72% and 99.09% year-on-year, respectively. Meanwhile, several of Wansheng ’s new products achieved notable results in market 31
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expansion: revenue from flame retardants for c opper clad laminates reach ed RMB20.39 million, representing a year-on-year increase of 99.15%; re venue from surfactants for daily chemical products reached RMB35.89 million, represent ing a year-on-year increase of 256.02%. In terms of production base construction and capac ity layout, during the Reporting Period, Wansheng continued to advance technological upgrades across i ts domestic production bases, achieving product quality and efficiency improveme nts and the orderly release of production capacity. Wansheng ’s overseas expansion is steadily tak ing shape, with the phosphate este r flame retardants project in Thailand base having entered the trial production stage and capacity being g radually ramped up, which will help improve Wansheng ’s global production capacity layou t and inject sustained growth momentum into its long-term development. Looking ahead to the second half of 2026, Wansheng will take ‘‘Gather Vision and Strength, Breakthrough for Progress ’’ as the guiding principle, unite the c onsensus of the entire team, integrate internal and external resources, make every effort to tackle core tasks, and strive to achieve its annual goals. Easun Technology As at the end of the Reporting Period, the Group and t he non-consolidated entities in which the Group participated in the investment held 80.32% equ ity interest in total in Easun Technology. During the Reporting Period, the new global o rders of Easun Technology were approximately RMB2,000 million. Easun Technology is currently actively leveraging AI technology combined with historical design data to develop various AI agents, i ncluding applications for automatic generation of 3D mechanical drawings and electrical drawings, sof tware for the automatic generation of robot offline programs and programmable logic controller (PLC) o ffline programs, as well as process simulation and verification applicati ons, with the aim of improving Easun Technology ’s production efficiency and reducing the input of engineers. Looking ahead, Easun Technology will continuously en hance the profitability and core competitiveness of the main business of the automotive industry, expa nd its business scale and market share, leverage its accumulated automation techno logy capabilities to e xplore customers and application scenarios for automation technology in other i ndustrial fields. Meanwhile, Ea sun Technology will leverage China ’s efficient supply chain and cost advantages to serv e global customers, continuously invest in R&D and global supply chain development, expand its exist ing proprietary technologies and standard product matrix including glue dispensing, vision systems, and lightweight fixtures. Through a combination of endogenous R&D and outbound mergers and acqui sitions, Easun Technology will develop high- performance intelligent equipment as an integral par t of its overall production line solutions to optimize production costs and further strengthen its compre hensive competitiveness. Easun Technology will also accelerate the development of industrial digitizatio n business and provide customers with integrated smart factory solutions. 32
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FINANCIAL REVIEW NET INTEREST EXPENDITURES Net interest expenditures, net of capitalized amo unts of the Group, decreased to RMB5,973.8 million for the six months ended 30 June 2026 from RMB6,182.4 million for the six months ended 30 June 2025. The decrease in net interest expenditures was m ainly attributable to the decrease in the interest rates of borrowings. For the six months ended 30 J une 2026, the interest rates of borrowings were approximately between 0.3% and 11.0% as comp ared with approximately between 0.0% and 12.0% over the same period of last year. TAX Tax of the Group was RMB1,558.9 million fo r the six months ended 30 June 2026, which was increased by RMB357.3 million compared with RM B1,201.6 million for the six months ended 30 June 2025. The increase in tax was mainly due to th e increase in taxable profit of the Group. INDEBTEDNESS AND LIQUIDITY OF THE GROUP As at 30 June 2026, the total debt of the Group was R MB218,308.2 million, representing a decrease from RMB224,194.6 million as at 31 December 2025. As at 30 June 2026, medium-to-long-term debt of the Group accounted for 51.8% of total debt, as compared with 53.5% as of 31 December 2025. As at 30 June 2026, cash and bank balances and te rm deposits increased by RMB121.1 million to RMB61,213.5 million as compared with RM B61,092.4 million as at 31 December 2025. TOTAL DEBT TO TOTAL CAPITAL RATIO As at 30 June 2026, the ratio of total debt to total capital (gearing ratio ) decreased to 55.7% as compared with 57.1% as at 31 December 2025. Th e healthy debt ratios and abundant funds can reinforce the Group ’s ability to defend against external risk e xposure and enable the Group to capture investment opportunities. AVAILABLE FACILITIES As at 30 June 2026, save for cash and bank balanc es and term deposits of RMB61,213.5 million, the Group had unutilized banking facilities of RMB149, 652.2 million. The Group has signed strategic cooperation agreements with various Chinese and f oreign banks. According to these agreements, the banks committed to strengthening fu rther on the existing relationshi p, and providing comprehensive financial support toward the Group ’s ‘‘Health, Happiness, Wealth and Intelligent Manufacturing ’’ segments. Prior approval of individual projects by b anks in accordance with bank regulations of China must be obtained before the use of these banking facilities. As at 30 June 2026, available banking facilities under these arrangements totalled approximate ly RMB326,402.8 million, of which RMB176,750.6 million was utilized. 33
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FOSUN INTERNATIONAL LIMITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the six months ended 30 June 2026 34 For the six months ended 30 June 2026 2025 RMB’000 RMB’000 Notes (Unaudited) (Unaudited) TOTAL REVENUE 3 86,963,356 87,283,090 Revenue 64,708,695 66,986,874 Insurance revenue 22,254,661 20,296,216 Cost of sales (41,279,965 ) (44,667,888 ) Insurance service expense (21,865,845 ) (16,548,275 ) Net service income/(expense) from reinsurance contracts held 1,625,804 (1,503,406 ) Financial expenses from insurance contracts issued (867,237 ) (1,159,142 ) Financial income from reinsurance contracts held 81,275 93,100 Other income and gains 3 6,875,799 8,281,628 Selling and distribution expenses (9,285,213 ) (9,204,670 ) Administrative expenses (11,199,009 ) (12,076,764 ) Other expenses (2,279,157 ) (2,748,622 ) Finance costs 4 (6,291,080 ) (6,504,641 ) Share of profits of: Joint ventures 447,715 155,490 Associates 2,601,911 2,471,429 PROFIT BEFORE TAX 5 5,528,354 3,871,329 Tax 6 (1,558,934 ) (1,201,574 ) PROFIT FOR THE PERIOD 3,969,420 2,669,755 Attributable to: Owners of the parent 1,721,061 661,162 Non-controlling interests 2,248,359 2,008,593 3,969,420 2,669,755 EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT 7 Basic - For profit for the period (RMB) 0.21 0.08 Diluted - For profit for the period (RMB) 0.21 0.08
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FOSUN INTERNATIONAL LIMITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the six months ended 30 June 2026 35 For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) PROFIT FOR THE PERIOD 3,969,420 2,669,755 OTHER COMPREHENSIVE INCOME Other comprehensive income that may be reclassified to profit or loss in subsequent periods: Finance reserve for insurance contracts issued 55,732 477,375 Income tax effect 23,692 (50,083 ) 79,424 427,292 Finance reserve for reinsurance contracts held (31,391 ) 15,154 Income tax effect (228 ) 1,496 (31,619 ) 16,650 Debt investments at fair value through other comprehensive income: Changes in fair value (215,814 ) 926,799 Changes in allowance for expected credit losses 5,270 (7,532 ) Reclassification adjustments for losses/(gains) on disposal included in the consolidated statement of profit or loss 10,113 (60,694 ) Income tax effect 10,327 (169,016 ) (190,104 ) 689,557 Fair value adjustments of hedging instruments in cash flow hedges 134,212 (277,696 ) Income tax effect (39,225 ) 91,065 94,987 (186,631 ) Fair value adjustments of hedging of net investments in foreign operations 242,004 (3,374,359 ) Income tax effect 13,745 (19,211 ) 255,749 (3,393,570 ) Share of other comprehensive income of associates 378,122 77,152 Share of other comprehensive income of joint ventures (149,619 ) (233,100 ) Exchange differences on translation of foreign operations (2,255,207 ) 3,558,825 Net other comprehensive income that may be reclassified to profit or loss in subsequent periods (1,818,267 ) 956,175
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FOSUN INTERNATIONAL LIMITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME(Continued) For the six months ended 30 June 2026 36 For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) OTHER COMPREHENSIVE INCOME (Continued) Other comprehensive income that will not be reclassified to profit or loss in subsequent periods: Revaluation difference upon transfer from owner- occupied property to investment property (35,317 ) (18,837 ) Income tax effect 1,295 (1,751 ) (34,022 ) (20,588 ) Actuarial reserve relating to employee benefits 28,402 72,255 Income tax effect (705 ) (7,892 ) 27,697 64,363 Equity investments designated at fair value through other comprehensive income: Change in fair value 132,770 162,295 Income tax effect (42,610 ) 617 90,160 162,912 Share of other comprehensive income of associates 27,402 123,559 Share of other comprehensive income of joint ventures (7,279 ) 32,213 Net other comprehensive income that will not be reclassified to profit or loss in subsequent periods 103,958 362,459 OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF TAX (1,714,309 ) 1,318,634 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 2,255,111 3,988,389 Attributable to: Owners of the parent 1,426,856 1,329,736 Non-controlling interests 828,255 2,658,653 2,255,111 3,988,389
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FOSUN INTERNATIONAL LIMITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 2026 37 30 June 2026 31 December 2025 RMB’000 RMB’000 Note (Unaudited) (Audited) ASSETS Cash and bank balances 61,213,538 61,092,407 Reverse repurchase agreements 1,759,411 1,693 Loans and advances to customers 966,968 158,333 Trade and notes receivables 8 13,880,078 13,375,429 Inventories 14,829,527 15,877,054 Completed properties for sale 10,873,011 11,377,491 Properties under development 29,268,856 33,254,582 Contract assets and other assets 153,188 128,834 Due from related companies 7,683,814 13,480,179 Prepayments, other receivables and other assets 31,336,510 31,110,660 Assets classified as held for sale 2,371,019 3,590,828 Derivative financial instruments 496,126 797,161 Financial assets at fair value through profit or loss 42,806,075 43,986,686 Reinsurance contract assets 9,565,859 8,026,879 Insurance contract assets 776,476 723,121 Debt investments at fair value through other comprehensive income 103,669,305 102,812,097 Debt investments at amortised cost 3,246,953 3,081,068 Policyholder account assets in respect of unit-linked contracts 37,517,746 40,736,578 Equity investments designated at fair value through other comprehensive income 1,371,895 1,265,171 Property, plant and equipment 55,107,863 55,772,213 Investment properties 108,245,305 97,134,974 Right-of-use assets 21,212,416 22,886,648 Exploration and evaluation assets 751,375 1,178,404 Mining rights 1,198,487 1,260,010 Oil and gas assets 2,891,988 2,620,259 Intangible assets 39,013,431 38,388,241 Investments in joint ventures 11,217,191 13,939,230 Investments in associates 67,781,632 66,355,403 Goodwill 22,929,816 23,620,951 Deferred tax assets 8,156,741 8,196,101 Total assets 712,292,600 716,228,685
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FOSUN INTERNATIONAL LIMITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued) 30 June 2026 38 30 June 2026 31 December 2025 RMB’000 RMB’000 Note (Unaudited) (Audited) LIABILITIES Deposits from customers 275,747 284,720 Accounts payable to brokerage clients 4,530,361 2,582,520 Financial liabilities at fair value through profit or loss 5,225,236 8,085,306 Liabilities directly associated with the assets classified as held for sale 25,697 278,622 Trade and notes payables 9 19,514,161 20,049,389 Contract liabilities 6,787,288 5,726,110 Tax payable 9,702,163 9,809,608 Derivative financial instruments 1,894,824 1,905,481 Accrued liabilities and other payables 83,440,231 90,104,173 Due to related companies 4,384,612 3,105,903 Interest-bearing bank and other borrowings 218,308,203 224,194,595 Reinsurance contract liabilities 203,935 214,875 Insurance contract liabilities 68,808,728 68,355,667 Investment contract liabilities 58,132,279 52,404,883 Financial liabilities for unit-linked contracts 37,517,746 40,736,578 Due to the holding company 208,449 259,427 Deferred income 1,213,377 1,253,176 Deferred tax liabilities 18,758,953 18,581,631 Total liabilities 538,931,990 547,932,664 NET ASSETS 173,360,610 168,296,021 EQUITY Equity attributable to owners of the parent Share capital 37,536,825 37,439,761 Treasury shares (202,919 ) (173,607 ) Reserves 57,854,137 56,563,113 95,188,043 93,829,267 Non-controlling interests 78,172,567 74,466,754 Total equity 173,360,610 168,296,021
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION For the six months ended 30 June 2026 39 1. BASIS OF PREPARATION AND CHANGES IN ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION The interim condensed consolidated financial information for the six months ended 30 June 2026 (the “Period”) has been prepared in accordance with HKAS 34 Interim Financial Reporting . The interim condensed consolidated financial information does not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s annual consolidated financial statements for the year ended 31 December 2025. As at 30 June 2026, the Group had the assets expected to be recovered in no more than twelve months of RMB224,322,361,000, and liabilities expected to be settled in no more than twelve months of RMB 241,928,969,000. The liabilities expected to be settled in no more than twelve months exceeded assets expected to be recovered in no more than twelve months by RMB17,606,608,000. In view of these circumstances, the Group has been taking proactive and prudent liquidity and liability management actions including expanding diverse financing channels to enhance re-financing abilities and divestment of non-strategic and non- core assets to strengthen the cash reserve. Having taken into account the unused financing facilities and based on the expected cash flows from operating, investing and financing activities, the directors consider that it is appropriate to prepare the financial information on a going concern basis. The financial information relating to the year ended 31 December 202 5 that is included in the interim condensed consolidated statement of financial position as comparative information does not constitute the Company’s consolidated financial statements for that year but is derived from those financial statements. Further information relating to those statutory financial statements required to be disclosed in accordance with section 436 of the Hong Kong Companies Ordinance is as follows:
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 40 1. BASIS OF PREPARATION AND CHANGES IN ACCOUNTING POLICIES (Continued) 1.1 BASIS OF PREPARATION (Continued) The Company has delivered the financial statements for the year ended 31 December 2025 to the Companies Registry (Hong Kong) as required by section 662(3) of, and Part 3 of Schedule 6 to, the Hong Kong Companies Ordinance. The Company’s auditors have reported on the financial statements for the year ended 31 December 202 5. The auditor’s report was unqualified; and did not contain a statement under sections 406(2), 407(2) or 407(3) of the Hong Kong Companies Ordinance. 1.2 CHANGES IN ACCOUNTING POLICIES The accounting policies adopted in the preparation of the interim condensed consolidated financial information are consistent with those applied in the preparation of the Group’s annual consolidated financial statements for the year ended 31 December 202 5, except for the adoption of the following amended HKFRS Accounting Standard s for the first time for the current period’s financial information. Amendments to HKFRS 9 Amendments to the Classification and and HKFRS 7 Measurement of Financial Instruments Amendments to HKFRS 9 Contracts Referencing Nature-dependent and HKFRS 7 Electricity Annual Improvements to HKFRS Amendments to HKFRS 1, HKFRS 7, HKFRS 9, Accounting Standards – Volume 11 HKFRS 10 and HKAS 7
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 41 1. BASIS OF PREPARATION AND CHANGES IN ACCOUNTING POLICIES (Continued) 1.2 CHANGES IN ACCOUNTING POLICIES (Continued) The nature and impact of the amended HKFRS Accounting Standards are described below: (a) Amendments to HKFRS 9 and HKFRS 7 Amendments to the Classification and Measurement of Financial Instruments clarify that a financial asset is derecognised when the entity’s rights to the contractual cash flows expire or are transferred, while a financial liability is derecognised on the settlement date. The amendments introduce an accounting policy option to d erecognise a financial liability that is settled through an electronic payment system before the settlement date if specified criteria are met. The amendments clarify how to assess the contractual cash flow characteristics of financial assets with environmental, social and governance and other similar contingent features. Moreover, the amendments clarify the requirements for classifying financial assets with non -recourse features and contractually linked instruments. The amendments also include additional d isclosures for investments in equity instruments designated at fair value through other comprehensive income and financial instruments with contingent features. Since the Group’s accounting policy for the derecognition of financial assets and liabilities i n prior years aligned with the amendments, the amendments did not have any significant impact on the interim condensed consolidated financial information.
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 42 1. BASIS OF PREPARATION AND CHANGES IN ACCOUNTING POLICIES (Continued) 1.2 CHANGES IN ACCOUNTING POLICIES (Continued) (b) Amendments to HKFRS 9 and HKFRS 7 Contracts Referencing Nature - dependent Electricity clarify the application of the “own-use” requirements for in-scope contracts and amend the designation requirements for a hedged item in a cash flow hedging relationship for in -scope contracts. The amendments also include additional disclosures that enabl e users of financial statements to understand the effects these contracts have on an entity’s financial performance and future cash flows. As the Group did not have any contracts that are in the scope of the amendments, the amendments did not have any significant impact on the interim condensed consolidated financial information. (c) Annual Improvements to HKFRS Accounting Standards – Volume 11 set out narrow scope amendments to HKFRS 1, HKFRS 7 (and the accompanying Guidance on implementing HKFRS 7), HKFRS 9, HKFRS 10 and HKAS 7. The amendments include clarifications, simplifications, corrections or changes to improve consistency in the corresponding HKFRS Accounting Standards. The amendments did not have any significant impact on the interim condensed consolidated financial information.
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 43 2. OPERATING SEGMENT INFORMATION For management purposes, the Group is organised into business units based on their products and services and has five reportable operating segments as follows: (i) The Health segment engages in the research and development, manufacture, sale and trading of pharmaceutical and health products and providing medical services and health management; (ii) The Happiness segment comprises principally the operation and investments in tourism and leisure, fashion consumer and lifestyle industries; (iii) The Insurance segment mainly engages in the operation of and investment in the insurance businesses; (iv) The Asset Management segment comprises principally the operation and investment of asset management, market investments, and investments in other companies of the Group; and (v) The Intelligent Manufacturing segment comprises principally the operation of and investment in the intelligent manufacturing and iron , new functional materials and ore production. Both the Insurance segment and the Asset Management segment listed above belong to the Wealth sector of the Group. Management monitors the results of the Group’s operating segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on reportable operating segment profit or loss, which is measured consistently with the Group’s profit or loss after tax. The head office and corporate expenses are allocated to each reportable segments based on their respective utilization of internal resources. Certain interest bearing bank and other borrowings which are managed on the group basis are allocated to each reportable segments based on their respective utilization of the financing. Inter-segment sales and transfers are transacted with reference to the fair selling prices used for sales made to third parties at the then prevailing market prices.
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 44 2. OPERATING SEGMENT INFORMATION (Continued) Six months ended 30 June 2026 (unaudited) Health Happiness Wealth Intelligent Manufacturing Eliminations Total Insurance Asset Management RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Segment revenue: Sales to external customers 23,580,960 31,576,974 22,806,400 4,388,798 4,610,224 - 86,963,356 Inter-segment sales 449,125 50,993 390 111,417 - (611,925 ) - Total revenue 24,030,085 31,627,967 22,806,790 4,500,215 4,610,224 (611,925 ) 86,963,356 Segment results: Profit/(loss) before tax 2,871,394 (157,008 ) 2,139,565 162,291 521,988 (9,876 ) 5,528,354 Tax (501,191 ) (511,716 ) (282,985 ) (169,068 ) (93,974 ) - (1,558,934 ) Profit/(loss) for the period 2,370,203 (668,724 ) 1,856,580 (6,777 ) 428,014 (9,876 ) 3,969,420 Other segment information: Interest and dividend income 157,906 219,364 3,057,314 353,059 85,623 (244,042 ) 3,629,224 Other income and gains (excluding interest and dividend income) 774,389 477,279 1,122,346 782,224 89,702 635 3,246,575 Provision for impairment recognised in the statement of profit or loss, net (43,691 ) (322,718 ) (170,826 ) (105,416 ) (64,005 ) - (706,656 ) Finance costs (736,889 ) (2,387,371 ) (1,170,013 ) (2,083,805 ) (135,971 ) 222,969 (6,291,080 ) Share of profits and losses of - Joint ventures (10,236 ) 74,452 444,713 (61,214 ) - - 447,715 - Associates 1,168,511 107,154 83,121 1,295,476 (53,700 ) 1,349 2,601,911
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 45 2. OPERATING SEGMENT INFORMATION (Continued) Six months ended 30 June 2025 (unaudited) Health Happiness Wealth Intelligent Manufacturing Eliminations Total Insurance Asset Management RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Segment revenue: Sales to external customers 21,925,718 33,643,159 20,889,249 6,803,690 4,021,274 - 87,283,090 Inter-segment sales 639,520 78,270 1,021 134,278 - (853,089 ) - Total revenue 22,565,238 33,721,429 20,890,270 6,937,968 4,021,274 (853,089 ) 87,283,090 Segment results: Profit/(loss) before tax 2,945,901 (325,348 ) 1,988,344 (1,066,188 ) 386,962 (58,342 ) 3,871,329 Tax (652,775 ) (200,968 ) (295,815 ) 33,620 (85,636 ) - (1,201,574 ) Profit/(loss) for the period 2,293,126 (526,316 ) 1,692,529 (1,032,568 ) 301,326 (58,342 ) 2,669,755 Other segment information: Interest and dividend income 201,503 126,288 3,165,505 238,561 95,268 (112,790 ) 3,714,335 Other income and gains (excluding interest and dividend income) 1,249,326 1,491,935 2,151,580 (352,420 ) 30,063 (3,191 ) 4,567,293 Provision for impairment recognised in the statement of profit or loss, net (103,058 ) (401,467 ) (17,304 ) (479,571 ) (31,581 ) - (1,032,981 ) Finance costs (799,619 ) (2,049,134 ) (1,130,356 ) (2,520,448 ) (113,267 ) 108,183 (6,504,641 ) Share of profits and losses of - Joint ventures (4,478 ) 98,145 88,655 (26,826 ) (6 ) - 155,490 - Associates 968,261 119,396 58,759 1,392,894 (26,585 ) (41,296 ) 2,471,429
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 46 2. OPERATING SEGMENT INFORMATION (Continued) Total segment assets and liabilities as at 30 June 202 6 and 31 December 2025 are as follows: Segment assets: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Health 140,019,562 135,211,023 Happiness 175,569,804 185,324,760 Wealth Insurance 228,291,635 225,337,139 Asset Management 147,152,306 151,031,666 Intelligent Manufacturing 29,192,679 28,138,014 Eliminations* (7,933,386 ) (8,813,917 ) Total consolidated assets 712,292,600 716,228,685 Segment liabilities: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Health 69,527,461 66,276,135 Happiness 141,192,799 150,223,778 Wealth Insurance 217,915,060 213,148,777 Asset Management 103,342,940 113,099,091 Intelligent Manufacturing 12,336,197 11,367,652 Eliminations* (5,382,467 ) (6,182,769 ) Total consolidated liabilities 538,931,990 547,932,664 * Inter-segment loans and other balances are eliminated on consolidation.
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 47 2. OPERATING SEGMENT INFORMATION (Continued) Geographical information Revenue from external customers For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Chinese mainland 37,798,554 40,613,216 Portugal 14,372,181 12,991,583 Other countries and regions 34,792,621 33,678,291 Total 86,963,356 87,283,090 The revenue information above is based on the locations of the customers. 3. REVENUE, OTHER INCOME AND GAINS An analysis of revenue, other income and gains is as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Revenue Revenue from contracts with customers - Sale of goods 41,509,984 42,270,442 - Rendering of services 22,095,795 21,781,799 Subtotal 63,605,779 64,052,241 Revenue from other sources - Insurance revenue 22,254,661 20,296,216 - Rental income 1,340,212 1,535,221 - Interest income 62,174 1,646,477 Subtotal 23,657,047 23,477,914 Others - Less: Government surcharges (299,470 ) (247,065 ) Total revenue 86,963,356 87,283,090
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 48 3. REVENUE, OTHER INCOME AND GAINS (Continued) An analysis of revenue, other income and gains is as follows: (Continued) Disaggregated revenue information Set out below is the reconciliation of the revenue from contracts with customers with the amounts disclosed in the segment information: For the six months ended 30 June 2026 (unaudited) Segments: Health Happiness Wealth Intelligent Manufacturing Total Insurance Asset Management RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Type of goods or services Sale of goods 15,452,606 19,351,655 216 2,082,656 4,622,851 41,509,984 Rendering of services 8,163,332 12,155,265 244,529 1,470,950 61,719 22,095,795 Total revenue from contracts with customers 23,615,938 31,506,920 244,745 3,553,606 4,684,570 63,605,779 Timing of revenue recognition Goods transferred at a point in time 15,452,606 19,351,655 216 2,082,656 4,622,851 41,509,984 Services transferred over time 8,163,332 12,155,265 244,529 1,470,950 61,719 22,095,795 Total revenue from contracts with customers 23,615,938 31,506,920 244,745 3,553,606 4,684,570 63,605,779
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 49 3. REVENUE, OTHER INCOME AND GAINS (Continued) An analysis of revenue, other income and gains is as follows: (Continued) Disaggregated revenue information (Continued) Set out below is the reconciliation of the revenue from contracts with customers to the amounts disclosed in the segment info rmation: (Continued) For the six months ended 30 June 2025 (unaudited) Segments: Health Happiness Wealth Intelligent Manufacturing Total Insurance Asset Management RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Type of goods or services Sale of goods 15,297,584 21,231,670 70 1,738,341 4,002,777 42,270,442 Rendering of services 6,683,110 12,211,175 229,913 2,607,849 49,752 21,781,799 Total revenue from contracts with customers 21,980,694 33,442,845 229,983 4,346,190 4,052,529 64,052,241 Timing of revenue recognition Goods transferred at a point in time 15,297,584 21,231,670 70 1,738,341 4,002,777 42,270,442 Services transferred over time 6,683,110 12,211,175 229,913 2,607,849 49,752 21,781,799 Total revenue from contracts with customers 21,980,694 33,442,845 229,983 4,346,190 4,052,529 64,052,241
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 50 3. REVENUE, OTHER INCOME AND GAINS (Continued) An analysis of the Group’s revenue, other income and gains is as follows: (Continued) For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Other income Interest income 509,635 512,775 Dividends and interest from financial assets 3,119,589 3,201,560 Rental income 3,834 16,136 Government grants 489,396 377,155 Fee income relating to investment contracts 699,375 649,718 Others 441,553 837,264 Total other income 5,263,382 5,594,608 Gains Gain on disposal of subsidiaries 213,541 - Gain on deemed disposal of associates - 38,191 Gain on disposal of joint ventures - 647 Gain on disposal/partial disposal of associates - 867,241 Gain on disposal of items of property, plant and equipment 31,961 - Gain on disposal of items of intangible assets 179,940 463,229 Gain on fair value adjustment of financial assets at fair value through profit or loss 219,364 225,959 Gain on derivative financial instruments - 996,770 Gain on fair value adjustment of investment properties 725,980 71,450 Gain on reversal of impairment of debt investments measured at fair value through other comprehensive income - 7,532 Gain on reversal of impairment of finance lease receivables - 16,001 Gain on disposal of debt investments at fair value through other comprehensive income 36,046 - Exchange gains, net 205,585 - Total gains 1,612,417 2,687,020 Total other income and gains 6,875,799 8,281,628 Total revenue, other income and gains 93,839,155 95,564,718
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 51 4. FINANCE COSTS For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Total interest expenses (excluding lease liabilities) 5,609,865 6,033,622 Incremental interest on other long term payables 8,940 8,330 Interest on lease liabilities 495,019 494,937 Less: Interest capitalised, in respect of bank and other borrowings (148,070 ) (369,385 ) Interest expenses, net 5,965,754 6,167,504 Interest on discounted bills 8,008 14,874 Bank charges and other finance costs 317,318 322,263 Total finance costs 6,291,080 6,504,641
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 52 5. PROFIT BEFORE TAX The Group’s profit before tax is arrived at after charging/(crediting): For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Cost of sales 41,279,965 44,667,888 Insurance service expense 21,865,845 16,548,275 Depreciation of items of property, plant and equipment 2,258,547 2,079,381 Depreciation of right-of-use assets 1,536,052 1,610,567 Amortisation of: Mining rights 32,676 8,196 Intangible assets 1,251,061 1,284,877 Oil and gas assets 424,202 370,910 Impairment of financial assets, net: - Impairment of receivables 185,988 246,323 - Provision for/(reversal of) impairment of debt investments measured at fair value through other comprehensive income 175,283 (7,532 ) - Provision for impairment of loans and advances to customers - 17,640 - Provision for impairment of debt investments at amortised cost 56,666 2,201 - Reversal of impairment of finance lease receivables - (16,001 ) Provision for inventories 90,736 51,830 Provision for impairment of investments in associates - 40,331 Provision for impairment of completed properties for sale 31,744 153,367 Provision for impairment of intangible assets 87,391 - Provision for impairment of items of property under development 14,586 541,150 Provision for impairment of items of property, plant and equipment - 3,672 Provision for impairment of goodwill 64,262 - Loss/(gain) on partial disposal/disposal of associates 18,306 (867,241 ) (Gain)/loss on disposal of debt investments at fair value through other comprehensive income (36,046 ) 152,213 Exchange (gain)/loss, net (205,585 ) 167,791 (Gain)/loss on disposal of subsidiaries (213,541 ) 24,911 Loss/(gain) on derivative financial instruments 415,250 (996,770 )
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 53 6. TAX The major components of tax expenses for the six months ended 30 June 202 6 and 2025 are as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 Notes (Unaudited) (Unaudited) Current – Portugal, Hong Kong and others - income tax (1) 905,780 275,073 Current –Chinese Mainland - Income tax in Chinese Mainland for the period (2) 782,793 833,903 - LAT in Chinese Mainland for the period (3) 166,693 120,522 Deferred tax (296,332 ) (27,924 ) Tax expenses for the period 1,558,934 1,201,574
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 54 6. TAX (Continued) Notes: (1) Taxes on profits assessable elsewhere have been calculated at the tax rates prevailing in the jurisdictions in which the Group operates. Hong Kong profits tax has been provided at the rate of 16.5% (six months ended 30 June 202 5: 16.5%) on the estimated assessable profits arising in Hong Kong during the period. The provision for income tax of Peak Reinsurance Company Limited ， incorporated in Hong Kong , is based on a preferential rate for insurance companies of 8.25% (six months ended 30 June 2025: 8.25%). The provision for income tax of Alma Lasers Ltd. (“Alma Lasers”), a subsidiary of the group incorporated in Israel, is based on a preferential rate of 6% (six months ended 30 June 2025: 6%). The provision for income tax of Fidelidade - Companhia de Seguros, S.A. and its subsidiaries which was incorporated in Portugal, is based on a rate of 29.5% (six months ended 30 June 2025: 30.5%). The provision for income tax of Club Med Holding and its subsidiaries which were incorporated in France is based on a rate of 25.83% (six months ended 30 June 2025: 25.83%). The provision for income tax of Gland Pharma Limited, which was incorporated in India, is based on a statutory rate of 25.17% (six months ended 30 June 2025: 25.17%).
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 55 6. TAX (Continued) Notes: (Continued) (2) The provision for Chinese Mainland current income tax is based on a statutory rate of 25% (six months ended 30 June 202 5: 25%) of the assessable profits of the Group as determined in accordance with the Enterprise Income Tax Law of the PRC which was approved and became effective on 1 January 2008, except for certain subsidiaries of the Group in Chinese Mainland, which were taxed at preferential rates of 0% to 20%. (3) According to the tax notices issued by the relevant local tax authorities, the Group commenced to pay land appreciation tax (“LAT”) at rates ranging from 0.5% to 5% on proceeds from the sale and pre-sale of properties from 2004. The Directors considered th at the relevant tax authorities would unlikely impose additional LAT levies other than the amount already paid based on the relevant percentages of the proceeds from the sale and pre - sale of the Group’s properties. During the period, the prepaid LAT of the Group amounted to RMB146,335,000 (six months ended 30 June 2025: RMB65,539,000). In addition, based on the latest understanding of the LAT regulations from the State Administration of Taxation, the Group made an additional LAT provision in the amount of RMB 65,191,000 (six months ended 30 June 2025: RMB87,460,000) in respect of the sales of properties in the period in accordance with the requirements set forth in the relevant PRC tax laws and regulations. During the period, unpaid LAT provision in the amount of RMB 44,833,000 was reversed to the interim condensed consolidated statement of profit or loss based on the latest discussion and filing progress with local tax authorities or the completion of the clearance with local tax authorities by certain subsidiaries of the Group (six months ended 30 June 2025: RMB32,477,000).
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 56 7. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT The calculation of the basic earnings per share amount is based on the profit for the period attributable to ordinary equity holders of the parent , adjusted to reflect the cash dividends distributed to the share award scheme, and the weighted average number of ordinary shares of 8,105,201,275 (six months ended 30 June 2025: 8,124,117,230) outstanding during the period. The calculation of the diluted earnings per share amount is based on the profit for the period attributable to ordinary equity holders of the parent. The weighted average number of ordinary shares used in the calculation is the weighted average number of ordinary shares outstanding during the period, as used in the basic earnings per share calculation, and the weighted average number of ordinary shares assumed to have been issued on the deemed vesting or conversion of all dilutive potential ordinary shares into ordinary shares. The calculations of the basic and diluted earnings per share are based on: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Earnings Profit attributable to ordinary equity holders of the parent 1,721,061 661,162 Less: Cash dividends distributed to share award scheme - (669 ) Adjusted profit attributable to ordinary equity holders of the parent, used in the basic earnings per share calculation 1,721,061 660,493 Cash dividends distributed to the share award scheme - 669 Profit attributable to ordinary equity holders of the parent, used in the diluted earnings per share calculation 1,721,061 661,162
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 57 7. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT (Continued) The calculations of the basic and diluted earnings per share are based on: (Continued) Number of shares For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Shares Weighted average number of ordinary shares outstanding during the period used in the basic earnings per share calculation 8,105,201,275 8,124,117,230 Effect of dilution – weighted average number of ordinary shares: – Share award scheme 9,620,456 11,329,306 – Share option scheme* - - Weighted average number of ordinary shares used in the calculation of diluted earnings per share 8,114,821,731 8,135,446,536 Basic earnings per share (RMB) 0.21 0.08 Diluted earnings per share (RMB) 0.21 0.08 * For the period ended 30 June 2026 and the period ended 30 June 2025, the potential ordinary shares of the share option scheme are excluded from the calculation of diluted earnings per share, because the exercise price of the share option scheme is higher than the average market price of the ordinary shares of the Company.
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 58 8. TRADE AND NOTES RECEIVABLES 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Trade receivables 13,533,486 13,138,686 Notes receivable 346,592 236,743 Total 13,880,078 13,375,429 An ageing analysis of the trade receivables as at the end of the reporting period, based on the invoice date, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Outstanding balances with ages: Within 90 days 10,518,120 10,620,451 91 to 180 days 1,384,277 1,173,886 181 to 365 days 1,135,775 980,500 1 to 2 years 689,867 574,890 2 to 3 years 232,152 205,979 Over 3 years 401,507 357,444 Subtotal 14,361,698 13,913,150 Less: Loss allowance for trade receivables 828,212 774,464 Total 13,533,486 13,138,686 Trade and notes receivables of the Group mainly arose from the Health segment and the Happiness segment. Credit terms granted to the Group’s customers are as follows: Credit terms Health segment 90 to 180 days Happiness segment 30 to 360 days
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 59 9. TRADE AND NOTES PAYABLES 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Trade payables 17,789,930 18,442,673 Notes payable 1,724,231 1,606,716 Total 19,514,161 20,049,389 An ageing analysis of trade payables as at the end of the reporting period, based on the invoice date, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Outstanding balances with ages: Within 90 days 10,355,338 11,798,193 91 to 180 days 1,322,732 1,487,623 181 to 365 days 2,453,173 2,366,964 1 to 2 years 1,498,374 955,634 2 to 3 years 690,855 562,521 Over 3 years 1,469,458 1,271,738 Total 17,789,930 18,442,673 Trade and notes payables of the Group mainly arose from the Health segment and the Happiness segment. The trade and notes payables are non -interest- bearing and are normally settled on terms of 30 to 60 days or based on the progress of construction of properties.
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 60 10. DIVIDENDS For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Final declared – Nil (2025: HKD0.02 per ordinary share) - 150,302 The board of directors did not recommend the payment of an interim dividend in respect of the period (six months ended 30 June 2025: Nil). 11. LIQUIDITY INFORMATION The Group presents all assets and liabilities in order of liquidity in the consolidated statement of financial position. The Group further discloses the amounts expected to be recovered or settled no more/more than twelve months for each asset and liability line item in the table below.
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 61 11. LIQUIDITY INFORMATION (Continued) As at 30 June 2026 (unaudited) Total No more than 12 months More than 12 months RMB’000 RMB’000 RMB’000 ASSETS Cash and bank balances 61,213,538 60,727,530 486,008 Reverse repurchase agreements 1,759,411 1,759,411 - Loans and advances to customers 966,968 966,968 - Trade and notes receivables 13,880,078 13,880,078 - Inventories 14,829,527 14,829,527 - Completed properties for sale 10,873,011 10,873,011 - Properties under development 29,268,856 26,235,764 3,033,092 Contract assets and other assets 153,188 153,188 - Due from related companies 7,683,814 7,683,814 - Prepayments, other receivables and other assets 31,336,510 25,219,297 6,117,213 Assets classified as held for sale 2,371,019 2,371,019 - Derivative financial instruments 496,126 433,868 62,258 Financial assets at fair value through profit or loss 42,806,075 28,686,129 14,119,946 Reinsurance contract assets 9,565,859 8,524,568 1,041,291 Insurance contract assets 776,476 170,247 606,229 Debt investments at fair value through other comprehensive income 103,669,305 13,467,376 90,201,929 Debt investments at amortised cost 3,246,953 2,006,312 1,240,641 Policyholder account assets in respect of unit-linked contracts 37,517,746 6,334,254 31,183,492 Equity investments designated at fair value through other comprehensive income 1,371,895 - 1,371,895 Property, plant and equipment 55,107,863 - 55,107,863 Investment properties 108,245,305 - 108,245,305 Right-of-use assets 21,212,416 - 21,212,416 Exploration and evaluation assets 751,375 - 751,375 Mining rights 1,198,487 - 1,198,487 Oil and gas assets 2,891,988 - 2,891,988 Intangible assets 39,013,431 - 39,013,431 Investments in joint ventures 11,217,191 - 11,217,191 Investments in associates 67,781,632 - 67,781,632 Goodwill 22,929,816 - 22,929,816 Deferred tax assets 8,156,741 - 8,156,741 Total assets 712,292,600 224,322,361 487,970,239
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 62 11. LIQUIDITY INFORMATION (Continued) As at 30 June 2026 (unaudited) Total No more than 12 months More than 12 months RMB’000 RMB’000 RMB’000 LIABILITIES Deposits from customers 275,747 275,747 - Accounts payable to brokerage clients 4,530,361 4,530,361 - Financial liabilities at fair value through profit or loss 5,225,236 5,225,236 - Liabilities directly associated with the assets classified as held for sale 25,697 25,697 - Trade and notes payables 19,514,161 19,514,161 - Contract liabilities 6,787,288 5,599,655 1,187,633 Tax payable 9,702,163 9,675,692 26,471 Derivative financial instruments 1,894,824 1,894,824 - Accrued liabilities and other payables 83,440,231 55,371,075 28,069,156 Due to related companies 4,384,612 2,631,576 1,753,036 Interest-bearing bank and other borrowings 218,308,203 105,143,029 113,165,174 Reinsurance contract liabilities 203,935 41,086 162,849 Insurance contract liabilities 68,808,728 19,878,032 48,930,696 Investment contract liabilities 58,132,279 5,788,544 52,343,735 Financial liabilities for unit-linked contracts 37,517,746 6,334,254 31,183,492 Due to the holding company 208,449 - 208,449 Deferred income 1,213,377 - 1,213,377 Deferred tax liabilities 18,758,953 - 18,758,953 Total liabilities 538,931,990 241,928,969 297,003,021 NET ASSETS/ (LIABILITIES) 173,360,610 (17,606,608 ) 190,967,218
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 63 11. LIQUIDITY INFORMATION (Continued) As at 31 December 2025 (audited) Total No more than 12 months More than 12 months RMB’000 RMB’000 RMB’000 ASSETS Cash and bank balances 61,092,407 60,497,983 594,424 Reverse repurchase agreements 1,693 1,693 - Loans and advances to customers 158,333 158,333 - Trade and notes receivables 13,375,429 13,375,429 - Inventories 15,877,054 15,877,054 - Completed properties for sale 11,377,491 11,377,491 - Properties under development 33,254,582 30,188,288 3,066,294 Contract assets and other assets 128,834 128,834 - Due from related companies 13,480,179 13,474,075 6,104 Prepayments, other receivables and other assets 31,110,660 25,704,922 5,405,738 Assets classified as held for sale 3,590,828 3,590,828 - Derivative financial instruments 797,161 707,222 89,939 Financial assets at fair value through profit or loss 43,986,686 29,555,915 14,430,771 Reinsurance contract assets 8,026,879 7,046,111 980,768 Insurance contract assets 723,121 277,347 445,774 Debt investments at fair value through other comprehensive income 102,812,097 14,922,952 87,889,145 Debt investments at amortised cost 3,081,068 2,012,062 1,069,006 Policyholder account assets in respect of unit-linked contracts 40,736,578 5,477,255 35,259,323 Equity investments designated at fair value through other comprehensive income 1,265,171 - 1,265,171 Property, plant and equipment 55,772,213 - 55,772,213 Investment properties 97,134,974 - 97,134,974 Right-of-use assets 22,886,648 - 22,886,648 Exploration and evaluation assets 1,178,404 - 1,178,404 Mining rights 1,260,010 - 1,260,010 Oil and gas assets 2,620,259 - 2,620,259 Intangible assets 38,388,241 - 38,388,241 Investments in joint ventures 13,939,230 - 13,939,230 Investments in associates 66,355,403 - 66,355,403 Goodwill 23,620,951 - 23,620,951 Deferred tax assets 8,196,101 - 8,196,101 Total assets 716,228,685 234,373,794 481,854,891
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FOSUN INTERNATIONAL LIMITED NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Continued) For the six months ended 30 June 2026 64 11. LIQUIDITY INFORMATION (Continued) As at 31 December 2025 (audited) Total No more than 12 months More than 12 months RMB’000 RMB’000 RMB’000 LIABILITIES Deposits from customers 284,720 284,720 - Accounts payable to brokerage clients 2,582,520 2,582,520 - Financial liabilities at fair value through profit or loss 8,085,306 8,085,306 - Liabilities directly associated with the assets classified as held for sale 278,622 278,622 - Trade and notes payables 20,049,389 20,049,389 - Contract liabilities 5,726,110 4,629,519 1,096,591 Tax payable 9,809,608 9,754,113 55,495 Derivative financial instruments 1,905,481 1,905,481 - Accrued liabilities and other payables 90,104,173 61,213,015 28,891,158 Due to related companies 3,105,903 1,360,518 1,745,385 Interest-bearing bank and other borrowings 224,194,595 104,160,689 120,033,906 Reinsurance contract liabilities 214,875 86,042 128,833 Insurance contract liabilities 68,355,667 21,764,992 46,590,675 Investment contract liabilities 52,404,883 6,225,554 46,179,329 Financial liabilities for unit-linked contracts 40,736,578 5,477,255 35,259,323 Due to holding company 259,427 2,133 257,294 Deferred income 1,253,176 - 1,253,176 Deferred tax liabilities 18,581,631 - 18,581,631 Total liabilities 547,932,664 247,859,868 300,072,796 NET ASSETS/ (LIABILITIES) 168,296,021 (13,486,074 ) 181,782,095 12. EVENT AFTER THE REPORTING PERIOD Up to the announcement date of the financial statements , the Group had no subsequent events to be disclosed.
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INTERIM DIVIDEND The Board has resolved not to declare or distribut e any interim dividend for the Reporting Period. PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES OF THE COMPANY The Company repurchased a total of 61,937,000 Shares on the Hong Kong Stock Exchange at an aggregate consideration of HKD246,904,690 durin g the Reporting Period. As at the date of this announcement, the above-men tioned 61,937,000 Shares have been cancelled. Month Total number of Shares purchased Purchase price paid per Share Total Consideration paid (HKD) Highest price (HKD) Lowest price (HKD) February 2026 13,027,000 3.80 3.63 48,235,385 March 2026 7,000,000 4.14 4.09 28,884,430 April 2026 18,410,000 4.23 3.98 76,161,770 May 2026 14,500,000 4.11 3.94 58,354,395 June 2026 9,000,000 3.99 3.84 35,268,710 Total 61,937,000 –– 246,904,690 Save as disclosed above, neither the Company nor any of its subsidiaries purchased, sold or redeemed any Shares during t he Reporting Period. SHARE AWARD SCHEME(S) 2023 Share Award Scheme A new share award scheme was adopted by the Company on 16 March 2023 (the ‘‘2023 Share Award Scheme ’’). For details of the 2023 Share Award Scheme , please refer to the circular of the Company dated 27 February 2023. On 31 March 2026, the Board resolved to award a n aggregate of 29,777,000 award Shares (the ‘‘2026 Award Shares ’’) to 76 selected participants under the 2023 Share Award Scheme. Subject to the satisfaction of the vesting cri teria and conditions of the 2023 S hare Award Scheme, the 2026 Award Shares shall be transferred from the trustee to the s elected participants upon expiry of the respective vesting period. As at the end of the Reporting Pe riod, 26,595,670 new Shares out of the 29,777,000 award Shares had been fully issued to the trustee, the remaining 3,181,330 award Shares were already held by the trustee as a result of previous awa rds granted that had lapsed before vesting. 65
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SHARE OPTION SCHEMES 2007 Share Option Scheme and 2017 Share Option Scheme The Company adopted a share option scheme on 19 June 2007, which expired on 18 June 2017 (the ‘‘2007 Share Option Scheme ’’) and adopted a share option sch eme on 6 June 2017 which was terminated on 16 March 2023 (the ‘‘2017 Share Option Scheme ’’). All outstanding options granted under the 2007 Share Option Scheme and the 2017 Sh are Option Scheme will continue to be valid and exercisable in accordance with the provisions of the relevant schemes. 2023 Share Option Scheme A new share option scheme was adopted by the Company on 16 March 2023 (the ‘‘2023 Share Option Scheme ’’). For details of the 2023 Share Option Scheme, please refer to the circular of the Company dated 27 February 2023. The Board announced that on 31 March 2026, subject to the acceptance of relevant grantees, the Company has decided to grant 363,280,000 share opti ons to subscribe for an aggregate of 363,280,000 Shares under the 2023 Share Option Sc heme to 160 selected participants. REVIEW OF INTERIM RESULTS The audit committee of the Company (the ‘‘Audit Committee ’’) comprises four Independent Non- Executive Directors, namely Mr. Zhang Shengman (Chairman), Mr. David T. Zhang, Dr. Lee Kai-Fu and Ms. Tsang King Suen Katherine. None of the members of the Audit Committee is a former partner of the Company ’s existing external auditors. The main duti es of the Audit Committee are to review the relationship with external a uditors, review the Company ’s financial information and oversee the financial reporting system, risk management and internal control systems of the Company, and to provide recommendations and advice to the Board. The interim results of the Company for the Report ing Period are unaudited but have been reviewed by the Audit Committee. The Audit Committee does not have any disagreement with the accounting treatment adopted by the Company. COMPLIANCE WITH THE CG CODE During the Reporting Period, the Company applie d the principles of and fully complied with all applicable code provisions of the CG Code. The Comp any regularly reviews its corporate governance practices to ensure compliance with the CG Code. PUBLICATION OF INTERIM REPORT This results announcement is published on the we bsites of the Hong Kong Stock Exchange (http:// www.hkexnews.hk) and the Company (http://www.fosun. com). The interim report will be published on both websites on or before 30 September 2026. 66
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FORWARD-LOOKING STATEMENTS This announcement includes certain forward-looking statements which involve the financial conditions, results and businesses of the Group. These forward-looking statements are the Group ’s expectation or beliefs for future events and t hey involve known and unknown risks a nd uncertainties, which may cause actual results, performance or development of the situation to dif fer materially from the situation expressed or implied by these statements. GLOSSARY In this announcement, unless the context otherwise requires, the following terms shall have the meanings set out below: FORMULA EBITDA = profit for the year + tax + net i nterest expenditures + depreciation and amortization Net interest expenditures = interest e xpenses, net + interest on discounted notes Total debt = current and non-current int erest-bearing bank and other borrowings Total debt to total capital ratio = total debt/(shareholder ’s equity + total debt) ABBREVIATIONS AI artificial intelligence AriBio AriBio Co., Ltd. Atlantis Sanya Hainan Atlantis Commerc e and Tourism Development Co., Ltd.* ( 海南 亞特蘭蒂斯商旅發展有限公司) Baihe Jiayuan Baihe Jiayuan Network Group Co., Ltd* ( 百合佳緣網絡集團股份有限 公司) BCP Banco Comercial Português, S.A. , a company whose shares are listed on the Euronext Lisbon with stock code BCP BFC Shanghai Fosun Bund Commercial Co., Ltd.* ( 上海復星外灘商業有限 公司) Board the board of Directors of the Company 67
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CG Code Corporate Governance Code cont ained in Appendix C1 of the Listing Rules Club Med Club Med SAS Company or Fosun International Fosun International Limited ( 復星國際有限公司), a company whose shares are listed on the Hong Kong Stock Exchange with stock code 00656 Director(s) the director(s) of the Company Easun Technology Shanghai Easun Technology Co., Ltd.* ( 上海翌耀科技股份有限公司) ESG Environmental, Social and Governance EUR Euro, the lawful currency of the Eurozone Fengrui Fluorine Industry Luoyang Fengru i Fluorine Industry Co., Ltd.* ( 洛陽豐瑞氟業有限公 司) FES Fosun Entrepreneurship/Ecosystem System, a business management system with high management effici ency that continuously evolves in practice in order to build the core competitiveness of a time-honored enterprise and cultivate talents with Fosun ’s entrepreneurial spirit Fidelidade or Fosun Insurance Portugal Fidelidade – Companhia de Seguros, S.A. Fosun Capital Shanghai Fosun Capital Investment Management Co., Ltd.* ( 上海復星 創富投資管理股份有限公司) Fosun Health Shanghai Fosun Health and Technology (Group) Co., Ltd.* ( 上海復星 健康科技(集團)有限公司) Fosun High Technology Shanghai Fosun High Technology (Group) Co., Ltd.* ( 上海復星高科 技( 集團)有限公司) Fosun Pharma Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* ( 上海復星醫藥(集 團)股份有限公司), a company whose A shares are listed on the SSE with stock code 600196, and whose H shares are listed on the Hong Kong Stock Exchange with stock code 02196 Fosun Sports Fosun Sports Group S.à r.l. Fosun United Health Insurance Fosun United Health Insurance Co., Ltd.* ( 復星聯合健康保險股份有 限公司) 68
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Fosun Wealth Fosun Wealth Inte rnational Holdings Limited ( 復星財富國際控股有限 公司) Gland Pharma Gland Pharma Limited, a c ompany whose shares are listed on the National Stock Exchange of India Li mited and BSE Limited with stock code GLAND Group or Fosun or us the Company and its subsidiaries Hainan Mining Hainan Mining Co., Ltd.* ( 海南礦業股份有限公司), a company whose shares are listed on the SSE with stock code 601969 HAFS Hauck & Aufhäuser Fund Services S.A. HAL Hauck Aufhäuser Lampe Privatbank AG Hengtai Bio Shenzhen Hengtai Biotechnology Co., Ltd.* ( 深圳衡泰生物科技有限 公司) Henlius Shanghai Henlius Biotech, Inc.* ( 上海復宏漢霖生物技術股份有限公 司), a company whose shares are listed on the Hong Kong Stock Exchange with stock code 02696 HKD Hong Kong dollars, the lawful currency of Hong Kong Hong Kong the Hong Kong Special Administrative Region of the PRC Hong Kong Stock Exchange The Stoc k Exchange of Hong Kong Limited IDERA IDERA Capital Management Ltd. Innovative Drugs For the purpose of this announcement, where references are made to Fosun Pharma, ‘‘Innovative Drugs ’’ mainly include innovative drugs, biosimilars, improved new drugs and other drugs with high technological barriers formed t hrough technological innovation Jinhui Liquor Jinhui Liquor Co., Ltd.* ( 金徽酒股份有限公司), a company whose shares are listed on the SSE with stock code 603919 Lanvin Group Lanvin Gr oup Holdings Limited ( 復朗集團), a company whose shares are listed on the NYSE with stock code LANV Listing Rules the Rules Governing the Li sting of Securities on the Hong Kong Stock Exchange Luz Saúde Luz Saúde, S.A. 69
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Macao the Macao Special Administrative Region of the PRC NYSE The New York Stock Exchange PAREF Paris Realty Fund SA, a company whose shares are listed on the Euronext Paris with stock code PAR Peak Reinsurance Peak Reinsurance Company Limited Pramerica Fosun Life Insurance Pramerica Fosun Life Insurance Co., Ltd.* ( 復星保德信人壽保險有限 公司) PRC or China the People ’s Republic of China Reporting Period the six months ended 30 June 2026 RMB Renminbi, the lawful currency of the PRC R&D research and development ROC Roc Oil Company Pty Limited Sanyuan Foods Beijing Sanyuan Foods Co., Ltd.* ( 北京三元食品股份有限公司), a company whose shares are listed on the SSE with stock code 600429 Shanghai Insight Shanghai Insight In vestment Management Limited* ( 上海智盈股權投 資管理有限公司) Shanghai Zhuli Shanghai Zhu li Investment Co., Ltd.* ( 上海助立投資有限公司) Share(s) the share(s) of the Company Shede Spirits Shede Spirits Co., Ltd.* ( 舍得酒業股份有限公司), a company whose shares are listed on the SSE with stock code 600702 Sinopharm Sinopharm Group Co., Ltd.* ( 國藥控股股份有限公司), a company whose shares are listed on the Hong Kong Stock Exchange with stock code 01099 Sisram Sisram Medical Ltd, a company whose shares are listed on the Hong Kong Stock Exchange with stock code 01696 SSE the Shanghai Stock Exchange the United States or U.S. The United States of America USD United States Dollar, the lawful currency of the United States 70
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Wansheng Zhejiang Wansheng Co., Ltd.* ( 浙江萬盛股份有限公司), a company whose shares are listed on the SSE with stock code 603010 Yong ’An P&C Insurance Yong ’An Property Insurance Company Limited* ( 永安財產保險股份有 限公司) Yuyuan Shanghai Yuyuan Touri st Mart (Group) Co., Ltd.* ( 上海豫園旅遊商 城(集團)股份有限公司), a company whose shares are listed on the SSE with stock code 600655 By Order of the Board Fosun International Limited Guo Guangchang Chairman 27 August 2026 As at the date of this announcement, the executive directors of the Company are Mr. Guo Guangchang, Mr. Wang Qunbin, Mr. Chen Qiyu, Mr. Xu Xiaoliang, Mr. Gong Ping, Mr. Huang Zh en and Mr. Pan Donghui; the non-executive directors are Mr. Li Fuhua and Mr. Luo Yuanli; and the independent non-executive directors are Mr. Zhang Shengman, Mr. Zhang Huaqiao, Mr. David T. Zhang, Dr. Lee Kai-Fu and Ms. Tsang King Suen Katherine. * For identification purpose only 71