Stronger Hive, Brighter Life: Fosun Hive Overseas Annual Work Conference 2022

"Stronger Hive, Brighter Life" — Fosun Hive Overseas Annual Work Conference 2022 was held on January 26, 2022 at Bund Finance Center (BFC), Shanghai, China. The conference summarized and reviewed business results, experience and lessons of Fosun Hive Overseas in 2021 comprehensively, and defined priorities in the new year. Classmates from Fosun Hive Shanghai headquarters and Fosun Hive Overseas from 9 platforms in nearly 10 countries across three continents attended the conference online simultaneously.

The following is the highlight of the conference:

Guo Guangchang / Chairman of Fosun International

To begin with, thank you very much for your efforts made in the past. I am very proud of our Hive Overseas for applaudable buildings we completed in New York, Milan and Japan, as well as for the great turnaround in India this year. I am also looking forward to the project to be completed in Lisbon. It's hoped that each of our overseas projects will be developed as a fine project and the best product in terms of both project design and management.?

To build its distinctive features, Fosun Hive City has already joined hands with some industries in Fosun ecosystem, and in the future, we should further expand cooperation with other industries inside Fosun's ecosystem for not only nice buildings but also introduction of Fosun's rich global industrial resources. Meanwhile, we will further build our asset management and operation capabilities, and accelerate the growth momentum in emerging markets such as India and Indonesia by leveraging our teams and strength. Efforts should be made for better financing capacities and expansion in both global and Chinese markets. We hope relevant projects will be launched in 2022. What's more, we should establish a VUCA competition mechanism for our teams, with 1+2+7 planning and sufficient input and incentive.?

As an enterprise rooted in China, Hive team's capability of globalization is invaluable, which also indicates a greater space for our development. Going forward, we are keen to develop more applaudable and valuable projects all over the world and deliver more wonderful buildings to the world. Thank you all!

Wang Qunbin / Co-Chairman of Fosun International?

First of all, I would like to thank everyone of Hive Overseas who braved the tough waves from China to overseas during the pandemic and contributed to Fosun's journey of globalization. Meanwhile, I am very grateful to all the classmates who have been overseas for your hard work!?

Despite the ups and downs of the pandemic overseas in 2021, Hive Overseas achieved excellent results and made great breakthroughs in global investment, empowerment, operation and sales. I hope all classmates of Hive Overseas can maintain this entrepreneurship and move forward to new heights!?

I also have the following suggestions for the future development of Hive Overseas:?

Firstly, we still need to maintain the passion for joint and continuous entrepreneurship and produce more innovative ideas to facilitate the development of Fosun. In consideration of the numerous projects of Hive Overseas, it is necessary to reinforce the financing capability and actively cooperate with teams in China to support the multiplied growth based on "361" strategy.?

Secondly, I always believe that the globalization of Hive Overseas is the fastest and farthest among all companies in Fosun's ecosystem. I hope that while maintaining this leadership, all classmates of Hive Overseas can interact with Fosun's entire ecosystem to play a greater synergistic role in overseas markets.?

Thirdly, Hive Overseas has established comprehensive talent systems, organizations and mechanisms, and has a relatively complete parallel structure both overseas and at home. I hope you can consider whether there is any possible improvement based on the current structure, which can be a valuable experience for Fosun's global organization structure and a role model for other portfolio companies in Fosun's ecosystem to learn from.?

Fourthly, in terms of talent recruitment, I hope Hive Overseas can empower the portfolio companies inside Fosun's ecosystem for recruitment, and may even consider incubating a global headhunting firm. Internally, it can recruit talents for Hive Overseas, while supporting other portfolio companies and strengthening the internal cooperation inside Fosun's ecosystem. Externally, we can build more partnerships, especially with large overseas institutions, by recommending talents. Furthermore, Hive Overseas can develop an independent business mechanism in this area in the future, which is beneficial not only to its own development but also to the overall development of Fosun, and may create a new collaborative model in Fosun's ecosystem.?

Xu Xiaoliang / Co-CEO of Fosun International?

Over the past year of 2021, I'd like to say that Hive Overseas has far exceeded our expectations. 2021 is a year full of challenges and opportunities, but the motivation of classmates of Hive Overseas was not affected in the slightest. Last year, we worked together to conquer one battle after another. Here, I would like to extend sincere greetings and thanks to all of you!?

Last year witnessed brilliant fruits. It's natural that there will be more challenges and opportunities in the new year, and I would like to use the word HIVE to propose four suggestions and requirements.?

H - High Growth: In order to achieve the growth target of 10 times in 10 years, Hive Overseas has to deepen two capabilities. (1) Investment capability. I would like to highlight three directions for improvement. One is to improve investment research, which means to leverage Fosun's overall research capability for forward-looking and holistic research; the second is to speed up the evolution from property investment to industrial investment; and the third is the two-way investment empowerment at home and abroad from multiple dimensions such as industrial sector, industrial mode, Eastern and Western cultural perspectives, etc. (2) Financing capability. Singapore Fosun Hive Capital Management should play its role to integrate various types of capital injected by means of fund mode and build up performance results for future steady and healthy development, and to leverage the exchange rate difference and interest difference of funds in different jurisdictions.?

I - Interaction: Here, I would like to emphasize the interaction from two aspects: (1) In terms of industrial investment and operation, efforts should be made for mutual integration with other BG/AMC of Fosun; 2) In terms of resources and talents, efforts should be made to strengthen mutual engagement with Overseas Operation Committee. Hive Overseas should play a role as benchmark to channel experience and talents to the Committee, and at the same time improve the efficiency of consolidating Fosun's overseas resources through the Committee.?

V - Value: Value investment is what we have always adhered to, and the core is to invest in the right target and match key talents at the right time and the right price. In the post-pandemic period, there will be many depressed assets worldwide, and Hive Overseas should seize the timing and trends.?

E - Ecosystem/Entrepreneurship: This is the core of Fosun's FES system. Every industry that operates to its fullest is the foundation for Fosun to become a great ecological enterprise. As an important part of this foundation, Hive Overseas should create best-in-class industrial scenarios to serve families across the world on the one hand, and establish its own small ecosystem at the same time. Finally, entrepreneurship should be reflected in the personnel mechanism, and partners at all levels should be responsible for three things: the first is to improve organizational structure and prepare high-quality talents with roles of A, B and C to reinforce each other; the second is to enhance mechanisms, including incentive, competition and cooperation mechanism and job rotation mechanism, etc.; and the third is to deepen and promote Fosun's corporate cultural values to achieve "we believe and we do".?

There is an ancient Chinese poem saying, "every cloud has a silver lining". 2022 is a critical year but full of uncertainties. The global economy is at the turning point of recovery, and some governments will start their general election. However, as long as our Hive Overseas classmates work together to overcome difficulties and forge ahead, we will definitely push Hive Overseas to a new height and create a brighter future for Fosun's overseas business. One Hive One Future!

Wang Yifei / Vice Chairman of Fosun Hive and CEO of Hive Overseas?

In 2021, we established the dual headquarters by setting up Singapore headquarters in addition to Shanghai headquarters. Fosun Hive Capital Management has been built in Singapore, and a high-caliber team has been developed with major financing projects launched. At present, the capital operation of key Hive projects has been completed through this center. Second, dual platforms. On the basis of the existing global footprint of Hive, we have established an industrial investment platform to expand the global industrial investment market thanks to Fosun's rich industrial resources in the ecosystem. This is also an advantage that cannot be replicated by competitors. Third, dual investments. We have accelerated the landing of round-trip investment projects by introducing Tadao Ando's intellectual properties (IP) and organizing Tadao Ando Exhibition at Fosun Foundation Center and getting involved in the production and promotion of the animation SAKUGAN, and we have achieved unprecedented success.?

Despite the continued challenges by Covid-19, we took active measures and quickly upgraded our organizational structure with three business centers established in Asia Pacific, Europe and Americas. The responsible person has been resident in each region to closely communicate with local teams, thus greatly minimizing the regional impact brought by the pandemic. In the meantime, efforts have been made to promote the strategy of the mobility of global talents, and improve communication efficiency and facilitate the efficient development of projects.?

The overall operation of global projects is remarkable. In Asia Pacific region, IDREA team in Japan has achieved outstanding results in project operation and exit thanks to its solid asset management capability, meanwhile Ahuja platform in India, by focusing on operation, has seen a significant increase in sales and collection of payments compared with 2020, despite the repeated outbreaks of the pandemic. In Europe, The Medelan project in Milan has continuously strengthened its team with its asset management capabilities developed to a new level; and the Entrecampos project in Lisbon started construction on part of the site in the middle of the year, making a new breakthrough.?

In the face of the changes brought about by the pandemic, we need to enhance the growth drivers from three dimensions:?

Time - We should continue the accumulation in terms of time to achieve internal growth. This is the most fundamental condition for corporate development. But it is still far from enough when this is done.?

Space - We should deepen the globalization strategy and continuously develop new markets, as there are still many global markets with potential space for us to expand. The global growth driven by space expansion is a critical growth dimension for us.?

Technology - Since technology has become the commanding height of the industry, we have to benchmark with leading players across the world. What we should do is to seize the opportunity to make an overall arrangement and increase investment in technological innovation to realize all-around digitalization, and at the same time, plan the investment on science and technology and execute projects.?

Dear classmates, only an elite organization with a sense of crisis at all times can achieve what others cannot do. Let's work together to do difficult things, realize the values of individuals and organizations, and share the sense of achievement at the moment of success.

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Several presentations and panel discussions were arranged at the Annual Conference for Hive Asia-Pacific, Europe and Americas, as well as investment, capital market, human resources, finance and legal affairs, etc. to discuss the development direction of each business function. In addition, Fosun Hive's new partners were announced, and outstanding individuals and teams of Fosun Hive Overseas were awarded at the conference.