Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, said on Wednesday that it is \u201cfinancially sound\u201d, amid reports that its parent firm is mulling the sale of a stake in the luxury Atlantis Sanya resort to cope with debt.<\/p>\n
Fosun International has been in talks with potential buyers \u2013 including state-backed companies and investors from the Middle East \u2013 over the sale of a part or all of its stake in the resort on Hainan, an island province in southern China known for its tropical climate and sandy beaches, Reuters reported on Tuesday. The value of a potential stake sale is unclear, the report said.<\/p>\n
\u201cFosun Tourism is always reviewing and optimising its business portfolio, focusing on the growth of its core businesses and strengthening its operational capabilities,\u201d Fosun Tourism said in a written response to the Post.<\/p>\n
\u201cCurrently, [Fosun Tourism] is operating well, and it is financially sound.\u201d<\/p>\n
Fosun International, whose businesses include tourism, real estate and financial services, had recorded a total revenue of 97.1 billion yuan (US$13.48 billion) for the six months to the end of June last year. Its \u201chappiness\u201d segment, covering brands, tourism and leisure, accounted for more than 44 per cent of total revenue, according to the group\u2019s interim report.<\/p>\n
With 220.9 billion yuan of total debt as of the end of June last year, Fosun International has been making plans to sell assets in recent months.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Fosun Tourism Group, the <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/661"}],"collection":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/comments?post=661"}],"version-history":[{"count":1,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/661\/revisions"}],"predecessor-version":[{"id":662,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/661\/revisions\/662"}],"wp:attachment":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/media?parent=661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/categories?post=661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/tags?post=661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}