On 16 January 2023, Shanghai Fosun High Technology (Group) Co., Ltd. ("Fosun 
High Technology") and eight domestic banks held a syndicated loan signing 
ceremony at the Bund Finance Center, Shanghai. According to the agreement, 
Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of 
China, China Construction Bank, and Bank of Communications as joint lead banks, 
and China Minsheng Bank, the Export-Import Bank of China, and Shanghai Pudong 
Development Bank, and as participating banks will jointly form a syndicate to 
provide Fosun High Technology a loan totaling RMB12 billion.

Shou Ziqi, Vice Chairman of All-China Federation of Industry and Commerce, Vice 
Chairman of the Chinese People's Political Consultative Conference Shanghai 
Committee, and Chairman of Shanghai Federation of Industry and Commerce,  
Representatives of China Banking and Insurance Regulatory Commission Shanghai 
Supervision Office and Shanghai Local Financial Supervision Bureau, and 
managements of eight leading banks, Guo Guangchang, Chairman of Fosun 
International, Wang Qunbin, Co-chairman of Fosun International, Chen Qiyu and 
Xu Xiaoliang, Co-CEOs of Fosun International, attended the ceremony and 
witnessed the signing together.

Shou Ziqi congratulated the successful completion of the syndicated loan. He 
said that the eight banks took concrete measures to work unswervingly both to 
consolidate and develop the public sector and to encourage, support and guide 
development of the non-public sector, further broadening the financing channels 
of private enterprises and reducing financing costs. The syndicated loan is not 
only of great significance to Fosun, but it also plays a positive role in 
improving public expectations and boosting confidence for development for 
private enterprises in Shanghai and even the entire country.

The representative of the syndicate said that the 20th National Congress of the 
Communist Party of China reaffirmed the need to work unswervingly both to 
consolidate and develop the public sector and to encourage, support and guide 
development of the non-public sector and explicitly proposed to promote 
development of the private economy for the first time. The Central Economic 
Work Conference held recently once again emphasized the need to work 
unswervingly both to consolidate and develop the public sector and to 
encourage, support and guide development of the non-public sector. The 
successful completion of the syndicated loan is a practical measure taken by 
the banks to actively provide financial services and guidance, working 
unswervingly both to consolidate and develop the public sector and to 
encourage, support and guide development of the non-public sector. As a 
representative enterprise of China's private sector rooted in Shanghai, Fosun 
hopes to take this signing as an opportunity for government, banks and 
enterprises to jointly promote development of the private economy.

Guo Guangchang expressed his gratitude to the eight banks for their long-term 
trust and support to Fosun. He said that this signing has further deepened the 
cooperation between Fosun and banks, broadened financing channels, and 
consolidated liquidity support for business development. In recent years, as a 
global innovation-driven consumer group, Fosun has been focusing on the 
consumption needs of families, and achieved steady development in sectors such 
as Health, Happiness and Wealth. "In 2023, we believe that demand will 
gradually be unleashed in the family-oriented consumer sector. We will continue 
to improve our products and services to better meet the needs of families."

The signing ceremony was presided over by Wang Qunbin. Signing representatives 
and relevant persons in charge of the eight banks, Gong Ping, Executive 
President and CFO of Fosun International, Li Haifeng, Executive President of 
Fosun International, Zhang Houlin, Senior Vice President and Co-CFO of Fosun 
International, Zhu Wenkui, Vice President of Fosun International, Chen Yue, 
Senior Assistant to the President and Co-CFO of Fosun, attended the signing 
ceremony.

Founded in 2005, Fosun High Technology is the domestic operating entity of 
Fosun International Limited ("Fosun International", HKEX: 00656) and is mainly 
responsible for Fosun International's domestic industry operations.


SOURCE: Fosun