Fosun’s debt is RMB100B, corresponding to total assets of RMB270B

Sep. 19, 2022 9:01 AM ETFosun International Limited (FOSUF), FOSUYBy: Meghavi Singh, SA News Editor
  • Fosun International (OTCPK:FOSUF) said a major international investment bank Morgan Stanley has reiterated its "Overweight" rating on Fosun International with a target price of HK$11.4 for the third time.
  • Fosun's actual debt is only RMB100B, corresponding to total assets of RMB270B.
  • According to Fosun International's 2022 interim results, its total assets amounted to RMB849.7B and total liabilities amounted to RMB651.3B as of 30 June 2022. However, the market's perception of RMB650B debt is in fact a confusing statement.
  • As per a research report, issued by Morgan Stanley issued, "The firm estimated that the debt at the holding company, including onshore debt, offshore debt and bank loans, is much lower. In terms of cash, with a tightening credit market, it is understandable that the company needs to take quick action to convert liquid assets into cash. It is estimated that the cash generated from its recent asset sales, together with its cash on hand is getting closer to being able to repay its near-term debt obligations."

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