Stay true to the mission, Work for a better life for global families

Since its establishment, Fosun has proposed the mission of “Self-improvement, Teamwork, Performance, Contribution to Society”. Among all the visionary achievements, contribution to the society has realized its essential value right now as we have made more contributions to the society through our globalization, technology innovation, C2M, industrial operation and investment.

For 29 years, we have been insisting on doing "right things, difficult things, and things that require time to accumulate". Until today, what remains unchanged is our original intention, what remains unchanged is our mission, what remains unchanged is our responsibility to society. What has changed? It is the focus of our strategy in different periods of development.

In 2021, we will stick to the "focus" strategy. If Fosun becomes a wartime mechanism in 2020, and it is ready to fight a battle, then 2021 will be the year when Fosun will fully utilize the wartime mechanism and achieve full surpass.

Globalization strategy

Through last year’s fight against the pandemic, I believe everyone can see global companies from China are precious not only to China, but also to the world. Why Fosun was able to quickly allocate global supplies to support China at the beginning and China materials to the rest of the world afterwards as we have imported Sweden made ventilators to China and achieved the vaccine development cooperation between China and Germany? It’s all because of our globalization capabilities. In the future, we will unremittingly continue to deepen Fosun's globalization capabilities, and promote the further implementation of various industries around the "Global + China" twin drive development strategy.

Innovative research and development, enter into “no man's zone”

Whether it is health, happiness, or wealth business, without R&D, without innovation, there is definitely no future. Now I have higher requirements for Fosun's innovation. In the future, Fosun will not only increase research and development, but also dare to enter into no man's zone and enter into areas that no one has ever touched before. In the past, we always considered the question wehther others have already succeeded on this track, or if we can do better on their basis. Now, we must dare to invest in tracks where no one has succeeded, boldly make assumptions, and carefully verify.

There are many fields worth exploring, and I also hope Fosun can make more contributions to society. We want to treat the disease, for example, mRNA technology not only can be used to develop vaccines, it is also a very important technology in biophamacy, and it has far-reaching significance for the treatment of cancer. In addition, technologies such as driverless cars are developing at a speed far beyond our imagination. Of course, innovation requires accumulation of time. We don't want to take shortcuts, we must honestly do research and development, and honestly imply innovation.

Industry + investment twin drivers

From the first day of its establishment, Fosun has developed a twin driver development model of industry + investment. Before, we paid more attention to promoting industrial development through investment, but now that we have completed the foundations of industrial footprints, we need to pay more attention to in-depth industrial development and industrial supplementary investment. For example, our investment in two bottles of liquor and spirits (Jinhui liqour and Shede liqour) last year has greatly expanded and strengthened the consumption investments in Yuyuan. Do not think investment is not important, investment is a very important part of our "twin drivers”. We should not pursue the trend, we still have to insist on making socially responsible investments, and insist on making investments that can solve social problems.

C2M-C end on top

C2M is a very important strategy of Fosun. In the past few years, the most common phrase we said was "good products carry traffic initially". Our core is to create explosive products, find good brands, and find out good products. But good products alone are not enough. We must put the C-end and good products on top at the same time.

What we lack now is the C2M vertical platform that can truly connect with the M-end with the C-end. We have so many products and so many customers, but how do customers turn into users? How to convert them into users for multiple times? How to recruit members cross different brands? Can it be implemented in one platform? These are the things we will focus on next year. We need to put the C-end on top, and we need to penetrate more vertical tracks.

Hope in our ecosystem, more members and users can consume more frequently, even cross different brands. For Fosun Health+, Thomas Cook, and BabyTree, we need to connect them to our ecosystem one by one, and we need to have a group of relevant C-end talents in place. The C-end not only has its own traffic, but also learns to cooperate with more platforms. The world is becoming more and more fair. If you have a good product, the platform is willing to cooperate with you; you have a large number of C-end users, and more good products are also willing to cooperate with you. This is a twin driver and a virtuous circle. This is the way we must go out in 2021. This battle is the most important.

Aligment from top to bottom, deepening the wartime mechanism

2020 is an extraordinary year. It is also a year when I am personally satisfied with Fosun because we have implemented the “focus” strategy proposed last year and achieved “willingness”. It is also because our organization has been "activated" under the epidemic situation, and we really understand what a "wartime organization" is.

The global workforce needs more global partners

During a baltte, the most important factor is people. What does Fosun rely on to fight a global battle? People. There are 66 new unprecedented global partners this year,. After we have considered all the choices, we believe that having such a group of global partners join the ranks of Fosun's partners will create more value for Fosun.

First, for Fosun people, it is an honor to be a global partner. More importantly, this means we hope that you will be invited to lead everyone to win this battle together. Because there are so many regions and industries to fight, so we need multiple arms, multiple corps, and multiple regions to fight. It won't work without a certain number of people.

Second, we will resolutely implement the "271" mechanism starting with global partners. Our partners are in and out, so as to stimulate the vitality of our organization from the top. The core of the wartime mechanism is to get rid of path dependence and use the wartime mechanism to stimulate organizational vitality.

Fosun has never been bigger for the sake of becoming bigger, nor has it been blindly pursuing ten times, one hundred times, and one thousand times. Fosun’s pursuit of rapid development is mainly based on two reasons: first, we are doing the right thing, hoping to better serve more global families; secondly, if there is no speed, it must be eliminated.

In all business units, we must further accelerate development. In the development process, a group of people are needed to make investments, and furthermore a group of people dedicated to the industry and thoroughly develop the business step by step.

In Fosun’s global army, we need more talents from the frontline, and talents who can solves problems in a certain industry. Therefore, many of the new partners this time are partners from the industry. For those who can fight alone and occupy a space for us, we need to inspire them, let them enter the core team, and let them lead the troops to help Fosun form a large ecosystem.

0 to 1, must have flexibility; 1 to N, must have speed

We need to have more flexibility from 0 to 1. A new project must have three teams work against each other at the same time. Flexibility is not a distrust of our teams. Carrying out some flexibilities is first of all showing our respect to the uncertainty of the market and technology advancement. For example, the research and development of China's new COVID19 vaccine is also advanced by multiple routes at the same time. Secondly, because it gives you one more choice. One more team to explore and more possibilities of success. We should not be afraid of competition, but believe that competition can stimulate the vitality of an organization.

In the 1 to N stage, we must be fast. Our waist strength is still too weak, the rate of fission is too slow, and our organizational capacity is not enough. Some projects look pretty good, but because the organization has not kept up and the staffing is not complete, eventually we paused the development: we have to avoid it. We need to have more talents to avoid some projects "get up early yet catch up too late."

Dare to inspire and optimize

Once again, I clearly ask our human resources team to dare to spend bonuses and set up a good incentive mechanism. On the one hand, we must maintain a good market value and be responsible to our investors; on the other hand, we must also be responsible to our employees. We are willing to give more equity incentives to those who create value for Fosun and the society, and give them better wages. We must create value for shareholders and employees, so more employees can work in Fosun and realize financial freedom dreams.

While motivating, we must also increase optimization -271 mechnanism. In an organization, it is useless to have incentives but not eliminate the worst. Some people are not suitable for you and do not develop well, but it does not mean that they are not suitable for other places. In many cases, it may be the right person yet has been put it in the wrong place.

In the future, we will continue to adhere to the wartime mechanism and continue to firmly implement our strategy. I wish all Fosun people around the world, a bright and happy Chinese New Year!