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The Latest Breaking News from Fosun

Wolves lose essence while balancing top-flight status for little outlay

Underlying numbers show Gary O’Neil’s side should improve but the board’s strapped cash policy is joyless

The Guardian - UK

Wolves squad for 2024/25: Gary O'Neil's full team for the Premier League, FA Cup and League Cup

The Wolves squad for 2024/25 will hope to improve on last season's 14th-placed finish, but there's still plenty of work to be done

FourFourTwo

Fosun Tourism Unit Reviews Business Portfolio

Fosun Tourism Group is strategically reviewing its business portfolio to enhance competitiveness and drive growth in the tourism sector.

Top News

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Fosun Pharma Secures $54 Million of IFC Loans for West Africa Plant

Côte d’Ivoire factory will produce anti-malaria and anti-bacterial drugs to improve public health across the region, World Bank unit says

Caixin Global

Julen Lopetegui admits "we have a problem" as he drops hint on Wolves future

Wolverhampton Wanderers boss Julen Lopetegui has saved the club from relegation this season but has been seeking assurances over the club's financial situation, after meetings with the club's top brass left him with more questions than answers

Daily Mirror

Satellite town: why Premier League owners are keen on KV Oostende

Owners of Bournemouth, Newcastle and Wolves are circling the Belgian club, with American incumbents willing to sell

The Guardian - UK

Shagang Sues Fosun for Breach of Contract in $1.97 Billion Steel Sale

After China’s largest privately owned steelmaker cut a deal to buy Fosun’s 60% of Nangang Iron & Steel, Nanjing Steel together with Citic swooped in to preempt the transaction

Caixin Global

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Weekly Must-Read: Raging Price War Poses Survival Threat for Automakers

Only a handful of EV and smart car winners may remain standing as China’s crowded vehicle industry faces a massive shake-out

Caixin Global

Citic Unit to Acquire Controlling Stake in Steelmaker From Debt-Strapped Fosun

After a last-minute bid, a firm owned by the state-owned heavyweight will pay about $2 billion for the 60% stake in Nanjing Nangang Iron & Steel United

Caixin Global

Fosun International Profit Plunges 95% in 2022

Market turmoil and Covid outbreaks almost wipe out earnings for a conglomerate also mired in a debt crisis

Caixin Global

Wolves’ owners in talks over buying stake in Belgian club K.V. Oostende

Wolves owners’ Fosun have opened talks over a potential investment in Belgian club K.V. Oostende as they look into expanding their portfolio of football clubs in Europe

The Guardian - UK

Shagang Agrees to Pay Fosun $1.97 Billion for Nangang Iron & Steel Stake

Deal for 60% of Nangang is still up in the air as Nanjing Steel has right of first refusal and other bidders may include Citic Pacific and Fangda Steel

Caixin Global

Shanghai Composite Index Fell 0.47% on Wednesday

Shenzhen Component Index closed down 0.57%

Caixin Global

Lanvin Nears Completion of U.S. SPAC Listing. Now the Work Begins

Key Takeaways: Lanvin Group’s plan for a SPAC listing has moved a step closer to completion with the setting of a Dec.

Benzinga

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Daily Mirror

Wolves faith in short supply as "trust" message comes back to bite them after latest snub

QPR manager Michael Beale has become the latest candidate to withdraw themselves from the running to become the Wolves head coach, after Julen Lopetegui did the same earlier this month

Daily Mirror

Brutal Julen Lopetegui snub exposes familiar problem for under-fire Wolves

Wolves had hoped to confirm the appointment of Julen Lopetegui as their new manager this week, but will now go back to the drawing board after the Spaniard turned down the approach

Daily Mirror

Four Premier League clubs Sir Jim Ratcliffe can target after Man Utd takeover ruled out

Sir Jim Ratcliffe has revealed that a takeover at Manchester United is not on the cards, but he has hinted that he could explore other opportunities in the Premier League

Benzinga

Fosun International Sells Assets as Short-Term Cash Crunch Looms

Key Takeaways: Fosun has sold down its stake in New China Life, its latest move to raise cash as it faces large debt maturing in the next 12 months The company is also selling down stakes in its Fosun Tourism unit, owner of the Club Med resort chain, and appears…

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The Guardian - UK

China tells banks to check exposure to debt-laden Fosun conglomerate

Sprawling group owns assets including Thomas Cook, Club Med and Wolverhampton Wanderers

The Independent UK

Wolves reject third Nottingham Forest offer for ‘important’ Morgan Gibbs-White

The newly-promoted Reds are keen on Gibbs-White

Benzinga

Strong Club Med Results Fail to Lift Fosun Tourism Back to Profits

Key Takeaways • Fosun Tourism expects to post a loss of between 150 million yuan and 250 million yuan for the first six months of this year

Nottingham Post

Wolves chief reveals Morgan Gibbs-White wish amid Nottingham Forest transfer interest

Nottingham Forest have been linked with a move for Wolves forward Morgan Gibbs-White this summer

Benzinga

Fosun Tourism Takes Off Globally, But Gets Grounded in China

Key Takeaways: Club Med operator Fosun Tourism reported a fourfold increase in revenue from its resort operations in the first quarter despite a resurgence of the Covid-19 Omicron variant Company is expected to return to profitability this year, with valuations that look competitive with other major global tourism stocks

Benzinga

China Offers Up Luxury Investment With Lanvin Backdoor Listing Plan

Key Takeaways:

Caixin Global

Fosun Reports $157 Million of China mRNA Vaccine Sales in 2021

BioNTech partner markets the advanced-tech inoculation in Hong Kong, Macao and Taiwan as regulators haven’t cleared the shots for the mainland

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