Dear Fosun colleagues,

At the annual meeting in January, I said that 2019 was difficult, but 2020 may be even more difficult. No one could have foreseen the pandemic crisis that broke out at the beginning of this year. Here, first of all, I would like to express my gratitude again towards Fosun global colleagues for their contributions to the action taken to combat the pandemic.

The world is in an era of rapid changes. The rapid development of science and technology has driven the continuous improvement of human living standards. At the same time, black swan events occur from time to time, and enterprises constantly face challenges during development. Finding opportunities in challenges and seizing development opportunities in changes are the core capabilities of Fosun.

Regarding Fosun, I am still optimistic that we will usher in rapid and stable development in the next decade. Our focus at this stage is to achieve our strategic focus and strive to become a tech innovation-driven family consumption group. The task is arduous but important. That is also why I hope that Mr. Wang can free himself from complex daily business affairs, assume the mantle of co-chairman of the company, and join me in devoting more energy to the top-level design, strategy establishment and team development of the company, so as to jointly promote the stable development of Fosun’s global businesses.

At the same time, we see that our colleagues Qiyu and Xiaoliang, as co-presidents of the company, have achieved good results in the three business sectors of health, happiness and wealth. They have been deeply rooted in industrial operation for a long time. In the future, we hope that they can continue to broaden their own boundaries by building on their foundation in industrial operations, become co-CEOs of the company, take over the daily business operation and management of the group, and assume more responsibilities for the development of Fosun.

The company has a systematic management and operation system, and stable core management can better steer the future of Fosun; we continue to evolve on this basis, and the change of positions and the adjustment of work assignment are accompanied with more responsibilities, which also reflects the determination and confidence of Fosun’s strategic focus.

Fosun’s core assets have always been people. The stable development over the next decade is inseparable from the construction and improvement of our team of talents. Fosun global partners, as the company’s highest standard talent pool, is a major organizational guarantee for the company’s strategy implementation and sustainable and stable performance development. The goal of global partners is not just to be a general director, but to further enhance global leadership and become a great leader.

Our global partners have a wide range of talents with different characteristics, some from the industry, some from the functional lines, and some from the management of our core enterprises. In my understanding, the standard of general directors is that they have expertise in the field or sector they are familiar with to work for the group; however, as a great leader, our partners should not only master the professional knowledge in any field of the industry, function and investment, but also have a far-sighted view of the overall situation.

In order to make more great leaders stand out, we need to set up an organic job rotation system in our group and industry. The purpose of job rotation is to actively break through the boundaries and realize the evolution of abilities through continuous learning and trial and error. The significance of job rotation is that it can help us further complete the transformation from doing things and employing people to doing things, improving the comprehensive abilities of our senior management talents, and truly cultivating a team of managers with both industrial expertise and overall vision.

In the background of industrial operation, we hope to further strengthen the systematic promotion of human resources and financial system. Therefore, in the process of this job rotation, we hope that our colleagues, Gong Ping, who is the CFO, and Pan Donghui, who is the CHO, can make use of their abundant experience and accumulation in the industry, and as the first partners of Fosun, to further enhance the company’s global industrial operation capabilities, and accelerate the company’s strategic transformation to a tech innovation-driven family consumption group.  My colleagues Xue Linnan and Mu Haining were transferred to be the vice chairman (formerly CFO) of Hive and the vice chairman of Kejin (former CHO) respectively, and we hope that after they assume their posts in the front line of the industry, they can direct the group according to its core strategy and promote the horizontal and vertical connection and coordination of businesses and resources among industries from the perspective and higher level of the group.

Work is not easy, but those who dare to pursue their dreams are the happiest. The start of the new decade is very special, but I believe that with the wisdom and diligence of all Fosun people, we will be able to intelligently create more great health, happiness, and wealth products for our family customers in the next decade, so as to make the lives of every family of the world happier!

Thank you very much!

Guo Guangchang

February 21, 2020

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