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P 02 FOSUN'S OVERVIEW 复星概览

P 03FOSUN'S OVERVIEW 复星概览

To Become

A WORLD-CLASS INVESTMENT GROUPUNDERPINNED BY THE TWIN DRIVERS of “Insurance-oriented Comprehensive Financial Capability” and “Industrial-rooted Global Investment Capability”

Fosun Group (October 2014)

Fosun Business Building,No.2 East Fuxing Road, Shanghai, ChinaTel：＋ 86 21 2315 6666Fax：＋ 86 21 6130 3288Post Code：200010

31st Floor, No. 237 North Chaoyang Road, Chaoyang DistrictBeijing, ChinaTel：＋ 86 10 5915 2299Fax：＋ 86 10 5915 2174Post Code：100020

Room 808, ICBC Tower, 3 Garden Road,Central, Hong KongTel：＋ 852 2509 3228Fax：＋ 852 2509 9028

One Chase Manhattan Plaza, 40th Floor, New York, NY 10005, USA Tel:+1 646 490 9830

Contents

Fosun’s Overview

Fosun’s Vision

Fosun’s Business Overview

Opportunities & Strategies

Fosun’s Team

Fosun’s Pursuit

02

10

12

20

30

34

Fosun's OverviewFosun has been persistently taking roots in China and actively implementing its investment model of “Combining China’s Growth Momentum with Global Resources”, making a major stride towards becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented comprehensive financial capability” and “industrial-rooted global investment capability”.

Fosun Group was founded in 1992 in Shanghai. Fosun International (00656.HK) was listed on the Main Board of the Hong Kong Stock Exchange on July 16, 2007.

Fosun has been persistently taking roots in China and investing in China’s growth fundamentals. It has been actively implementing its investment model of “Combining China’s Growth Momentum with Global Resources”, with a view to making a major stride towards becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented comprehensive financial capability” and “industrial-rooted global investment capability”. Today, Fosun's businesses include insurance, industrial operations, investment and asset management.

In practice, Fosun unremittingly builds up its capabilities in identifying and capturing investment opportunities in China, improving the management and enhancing value of the investees, and establishing a multi-channel financing system to access quality capital. With a value chain based on these three core competencies and a group of entrepreneurs endorsing Fosun’s corporate culture, a solid foundation has been laid for the continuous rapid growth of Fosun.

While pursuing economic development, Fosun also shares the fruitful results of development with its staff, partners and the community, taking the initiative to contribute to the society in return. Meanwhile, Fosun also actively contributes its efforts to improve the business and natural environments of China so as to support the rejuvenation of the Chinese economy and culture.

ABOUT FOSUN

02

03FOSUN'S OVERVIEWFOSUN'S OVERVIEW

Fosun Group was founded in 1992 by four Fudan University graduates. Since its establishment, Fosun has always been adhering to its cultural values of “Self-improvement, Teamwork, Performance, and Contribution to Society”, with its motto of “Together, We Make a Difference”, Fosun achieved rapid development by capitalizing on the high-growth sectors that benefit from China’s economic development and investing in the fast-growing industries in different stages.

In the course of pursuing commercial value, Fosun also actively contributes its efforts to improve the business and natural environments of China so as to support the rejuvenation of the Chinese economy and culture, making efforts to become a responsible corporate citizen while committing itself to undertaking social responsibilities.

Calendar of development and major investments of Fosun

Note: The following companies/projects include investments made by Fosun, its

subsidiaries and funds under its management.

* The proposed transaction is in progress.

Becoming a world-class investment group underpinned by the twin drivers of "Insurance-oriented comprehensive financial capability" & "Industrial-rooted global investment capability"

Founded by 4 Fudan University

graduates, with an initial

capital of RMB38,000

Fosun Pharma

Forte

Yuyuan

Jianlong Group

NSU

Zhaojin Mining

Yong’an P&C Insurance

Hainan Mining

Focus Media

Club Med

Folli Follie

St. JohnAlma Lasers

SaladaxCaruso

Atlantis Resort, Sanya

One Chase Manhattan Plaza in New York, the US

Lloyds Chambers in London, the UK

Fidelidade

Secret Recipe

BHF-BANK

Osborne

Studio 8

Ironshore

REN

Tom Tailor

ROC Oil*

IDERA

Pramerica Fosun Life Insurance

Peak Reinsurance (“Peak Re”)

Minsheng Bank

04


From left to right: GUO Guangchang, LIANG Xinjun, WANG Qunbin, FAN Wei, DING Guoqi, WU Ping, QIN Xuetang

SEASONED LEADERSHIP TEAM

Executive Director and Chairman of Fosun. Mr. Guo is also a Member of the Twelfth National Committee of Chinese People’s Polit ical Consultative Conference, a Standing Committee Member of the Eleventh All-China Federation of Industry & Commerce, a Standing Committee Member of the Eleventh All-China Youth Federation, and Honorary Chairman of Zhejiang Chamber of Commerce in Shanghai. Mr. Guo graduated from Fudan University in 1989 with a BA in Philosophy and received an MBA degree from the same university in 1999.

Mr. Guo was awarded “Outstanding Chinese Private Entrepreneur”, “Top Ten Leaders in Future Economy of China”, “CCTV People of Financial Year 2004”, "Awardee for Directors of the Year Awards 2010" as well as other accolades, and he was named in Bloomberg Markets' “50 Most Influential list 2014". At Shanghai World Expo 2010, Mr. Guo, together with 15 leading Chinese entrepreneurs, built with joined efforts a Chinese Private Enterprise Pavilion, thereby starting a new chapter in the history of China’s private sector by showcasing the private-sector economy in China in the World Expo, a move that had won recognitions and respects from around the world for new prospects of the economy in China.

Executive Director, Vice Chairman and CEO of Fosun. Mr. Liang is also a member of the Twelfth Shanghai Committee of Chinese People’s Political Consultative Conference, Vice Chairman of China Young Entrepreneurs Association, Chairman of the Shanghai Fudan University Alumni Association and Chairman of the Taizhou Chamber of Commerce in Shanghai. Mr. Liang was born in Taizhou, Zhejiang. He graduated from Fudan University with a BS in genetic engineering in 1991. He then obtained an MBA degree from Cheung Kong Graduate School of Business in 2007.

Mr. Liang has long been studying China’s economic reform and development, and is often being invited as a guest speaker at various economic forums. He was awarded the “Top Ten Financial Industry Leaders in Shanghai”, “Top Ten China Private Equity Investor”, “Chinese Business Leader of the Year” of the 7th session of Horasis Global China Business Meeting, “Management Innovation Award for Young Entrepreneur in China”, “Top Ten Outstanding Youth of Shanghai”, “Bauhinia Cup Outstanding Entrepreneur Award”, “Awardee for Directors of the Year Awards 2013”, “Asia’s Best CEO” as well as other accolades.

Executive Director and President of Fosun. Mr. Wang graduated from Fudan University in 1991 with a BS in genetic engineering.

Mr. Wang has ex tens ive and prac t ica l experiences in enterprise management. Mr. Wang was awarded “Asia Pacific Outstanding Entrepreneur Awards” by Enterprise Asia in 2014, and “the Young Global Leader” by the Davos World Economic Forum in 2009, “the Technology Innovation Prize of China Outstanding Youth” as well as other accolades, and was accredited “Outstanding Technical Experts Allowance by State Council” in 2007. Mr. Wang is currently Chairman of the Huzhou Chamber of Commerce in Shanghai, Vice Chairman of China Chamber of International Commerce and Honorary Chairman of the Shanghai BioPharmaceutics Industry Association.

Mr. Wang is Chairman of Pramerica Fosun Life Insurance, Chairman of Peak Reinsurance and Chairman of Forte. Mr. Wang is also a Director of Fosun Insurance Portugal, Nanjing Nangang and Henan Lingrui Pharmaceutical Co., Ltd., a Non-executive Director of Sinopharm and Fosun Pharma.

Non-executive Director of Fosun. Mr. Fan has long been responsible for the operation and management of property business of Fosun Group. He was Co-President of Fosun. Mr. Fan graduated from Fudan University in 1991 with a BS in genetic engineering.

Mr. Fan has a profound understanding of the development and market opportunities of China’s property market. He is currently Vice Council Chairman of the Institute of Real Estate Shanghai Academy of Social Sciences. He was Vice Chairman of the Shanghai Real Estate Trade Association and Chairman of the Housing Industry Association of Shanghai Federation of Industry and Commerce. He was awarded “Top 100 Property Entrepreneur in China in 2005”, “Outstanding Young Entrepreneur of Shanghai in Property Sector” as well as other accolades.

GUO Guangchang LIANG Xinjun WANG Qunbin FAN Wei WU Ping

Executive Director, Senior Vice President and Chief Financial Officer of Fosun. Mr. Ding has been responsible for the financial management of the company since he joined Fosun Group in 1995, and possesses extensive experiences in the capital market and fund management fields. Mr. Ding was appointed as a Director of Fosun Group in 2003, and he is also a Director of Fosun Insurance Portugal, Nanjing Nangang, Forte and Shanghai Ganglian E-Commerce Holdings Co., Ltd. Mr. Ding received a bachelor degree in accounting from Shanghai University of Finance and Economics in 1991. Prior to joining Fosun Group, Mr. Ding worked in the accounting department of Shanghai Jinshan Petrochemical Construction Company.

DING Guoqi

Executive Director and Senior Vice President of Fosun. Mr. Wu joined Fosun Group in 1995 and was appointed as Director of Fosun Group in 2003. Currently, he assists in managing investment affairs of the Company. Mr. Wu possesses extensive experiences in retailing, brand management, human resources and so forth. Mr. Wu served as Chairman of Yuyuan, a renowned cultural tourism listed enterprise in Shanghai, for a long period of time. Mr. Wu was the Vice President of Shanghai General Chamber of Commerce and Shanghai Shopping Mall Association. Mr. Wu was awarded the “Top 50 CEO of Chinese Listed Companies” by Harvest Business Review.

Executive Director and Senior Vice President of Fosun. Since joining Fosun Group in 1995, Mr. Qin has been overseeing the legal matters of the Company, possessing in-depth knowledge in the operation procedures of the regulatory authorities as well as the capital market rules and regulations in China. In particular, he possesses extensive experiences in corporate governance in the A share market. Mr. Qin was appointed as a Director of Fosun Group in 2004, mainly responsible for the Company’s legal, audit, risk control and information disclosure matters. Mr. Qin received a bachelor degree in Law in 1985 from the Southwestern University of Political Science and Law and was admitted to practice law in the PRC in 1990. Prior to joining Fosun Group, Mr. Qin worked in the Law Department of Fudan University.

QIN Xuetang

06


2014H1 FINANCIAL OVERVIEW

Unit: RMB million 2014/06/30 2013/06/30 YOY change

RMB 2014/06/30 2013/06/30

Notes: (1) NPV=attributable market value of listed assets at the Group level + net attributable assets of unlisted subsidiaries and associates at the Group level + cost of other investments at the Group level – net debt at the Group level. (2) PE, PB and dividend yield are based on the closing price as at the respective reporting periods.

Revenue

Gross profit

Other revenue and income

Net profit attributable to shareholders

Share price

BV per share

NPV per share（1）

EPS

Diluted EPS

PE（2）

PB（2）

Dividend yield（2）

24,795.9

5,771.7

2,913.9

1,833.9

8.14（HKD10.3）

6.35

7.6

0.28

0.28

9.95

1.28

1.46%

23,970.6

4,783.0

3,599.0

1,691.6

4.53（HKD5.69）

5.56

6.33

0.26

0.26

7.56

0.82

2.99%

3.4%

20.7%

-19.0%

8.4%

Since its establishment, Fosun has been growing at a rapid pace to become an investment group with total assets exceeding RMB300 billion, from an entrepreneurial start-up founded by university students with an initial capital of RMB38,000 in 1992.

In the first half of 2014, Fosun’s revenue amounted to RMB24.796 billion and profit attributable to owners of the parent increased 8.4% year-on-year to RMB1.834 billion.

As at June 30, 2014, the market capitalization of Fosun International was HKD71.3 billion/RMB56.3 billion.

FAST GROWING FOSUN

RMB billion 2014/06/30 2013/12/31 MOM change

Note: NPV=attributable market value of listed assets at the Group level + net attributable assets of unlisted subsidiaries and associates at the Group level + cost of other investments at the Group level – net debt at the Group level.

Book Value (BV)

Net Portfolio Value (NPV)

44.00

52.6139.63

53.49

11.0%

-1.6%

H1

Unit: RMB billion

9.5-year CAGR of net

portfolio value(“NPV”)

9.5-yearCAGR

of book value(“BV”)

Year-end BV Year-end NPV

08


Note: Signed an equity purchase agreement in August, and transaction has not been completed

Fosun's VisionFosun is making a major stride towards becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented comprehensive financial capability” and “industrial-rooted global investment capability”.

In the first half of 2014, Fosun made a major stride towards becoming a wor ld-class investment group underpinned by the twin drivers of “insurance-oriented comprehensive financial capability” and “industrial-rooted global investment capability”. Following the completion of the acquisition of the three insurance companies namely Fidelidade, Multicare and Cares under Caixa Seguros e Saúde (“CSS”) of Portugal (“Fosun Insurance Portugal”); the successful investment in one of the largest independent private banks in Europe, German BHF-BANK; the successful acquisition of the Japanese real estate capital management firm IDERA; and signing of an equity purchase agreement with the US insurance company Ironshore Inc., the Group's “insurance-oriented comprehensive financial capability” under the twin drivers development model has already taken on firm foothold. Meanwhile, Fosun will continue to leverage and pursue its another driver of “industrial-rooted global investment capability” , seeking to deliver more successful investment cases under the value investing principle.

“TWIN-DRIVERS” DEVELOPMENT MODEL

Long-term Capital

Low cost Capital

Stable Capital

First involvement in insurance

industry

Proposed an insurance-oriented

platform

Established an insurance-oriented investment group

Persistently implementing the “Insurance + Investment”

strategy

Big Projects

Deep Industrial

Foundation

China’s Growth Momentum

+Global

Resources

Insurance

Investment

Invested in Yong’an P&C Insurance

Established Pramerica-Fosun Life Insurance and

Peak Re

Insurance segment as a whole made profit at its

first operational year

Acquired Fosun Insurance Portugal

Consolidated Fosun Insurance Portugal on May 1, 2014, and insurance accounts

for 37% of total assets

Entered into an agreement to acquire 20% shares of

Ironshore (Note)

10

11FOSUN'S VISIONFOSUN'S VISION

FOUR GROWTH ENGINESInsurance Industrial Operations Investment Asset Management

Strategic value to shareholders

Return

Profit contribution(RMB million)

A source of long-term high quality capital, stable profit growth

Underwriting profit & investment profit

Stable profit and dividend. Established connections and industrial foundations

Profit & dividend

S t a b l e c a s h f l o w , capture high-growth opportunities

Dividend & disposal gains

L o w e r i n g r i s k , c o n t r o l l e d d e b t exposure, enhanced returns

Management fee & carry

2014H1 2013H1 2014H1 2013H1 2014H1 2013H1 2014H1 2013H1

114.5 95.5 1,133.3 1,457.3 999.2 405.2 68.4 22.2

Fosun'sBusiness OverviewToday, Fosun has established four business engines comprising “insurance, industrial operations, investment and asset management”. Upon completion of the closing of Fosun Insurance Portugal acquisition, Fosun’s goal as “an insurance-oriented investment group” has thereby taken on a good shape. This acquisition represents a solid stride towards implementing the Warren Buffett model of development.

During the course of development, Fosun has accumulated a strong industrial base and network resources, proving that Fosun has nurtured its investment capability as its core competence through practice. Looking ahead, Fosun will continue to leverage its “industrial-rooted global investment capability” and implement Fosun's value investing principle. Meanwhile, Fosun will continue to enhance its “insurance-oriented comprehensive financial capability”, so as to effectively link the investment capability of Fosun with the insurance business and to leverage the advantages of its industrial resources to improve the insurance underwriting revenue as well as to enhance the investment revenue with the strength in investment capability.

Today, Fosun has established four business engines comprising “insurance, industrial operations, investment and asset management”. As at June 30, 2014, Fosun's total assets reached RMB313.314 billion, the proportion of Fosun's insurance assets to the Group's total assets was 37%.

2014 Total Assets

RMB million

Insurance

Investment Asset Management

Industrial Operations

Note: As at June 30, 2014, Fosun’s total assets reached RMB313,314 million, the proportion of Fosun’s insurance assets to the Group’s total assets was 37%.

(Note)

12

13FOSUN'S BUSINESS OVERVIEW FOSUN'S BUSINESS OVERVIEW

Fosun has always been regarding the development of its insurance business as a premium path connecting its investment capability to long-term high quality capital. Currently, over one-third of Fosun's total assets come from insurance business. Fosun's latest investment in insurance sector was entered into an equity purchase agreement with Ironshore Inc. in the US, for acquisition of 20% of its total outstanding ordinary shares (on a fully diluted basis) and to become its largest shareholder. Excluding investment in Ironshore, Fosun's insurance segment comprises four companies, namely Yong'an P&C Insurance, Pramerica Fosun Life Insurance, Peak Reinsurance and Fosun Insurance Portugal, constituting a comprehensive insurance platform covered by property and casualty, life, general insurance and re-insurance.

“AN INSURANCE-ORIENTEDINVESTMENT GROUP” TAKING SHAPE

INTRODUCTION TO FIDELIDADE

Generalinsurance Re-insurance Life

InsuranceP&C Insurance

SpecialtyInsurance

FosunInsurance Portugal

Peak Re Pramerica-Fosun Life Insurance

Yong'an P&C Insurance

Ironshore

Real Estate Investment

80% 85.1% 50% 19.9% 20%

Premium Income Investable Assets RMB million RegulationReturn on Investment

Priority Investment Area

Fosun Insurance Portugal（Note）

Peak Re

Pramerica-Fosun Life Insurance

Yong'an P&C Insurance

Total

Ironshore(Unaudited)

16,016

649

18.5

3,650

105,378

4,114

379.5

9,030

118,902

27,260

4.3%

-1.4%

4.38%

3.55%

EU & OECD

Global

China

China

US RBC, Bermuda

Solvency I Solvency II

HK Law

China Law

China Law

11

7.8

3,920

3,567

370

8,900

2014 H1 2013 H1 2014 H1 2013 H1

Note: Consolidated to the Group's financial statement in May 2014.

Leverage of Insurance Capital

Life insurance

Non-life insurance

As at June 30, 2014

200 million Euro

534 million Euro in Private Equity or681 million Euro in Public Equity or1,636 million Euro in Real Estate

Available FundSolvency Requirements

Assumptions :1: Fosun's investment is double leveraged, 50% own fund (“OF”) and 50% debt (with 5% interest rate);2: Fosun has 80% controlled interest in Fosun Insurance Portugal;3: Both opportunities are of Euro 200 million amount;4: Both opportunities have an expected return on investment of 10%

Business expansion focused on Europe and Portuguese-speaking countriesEurope: France, Spain, LuxembourgAfrica: Angola, Cape Verde, MozambiqueAsia: two companies in MacauSouth America(to be established): Brazil, Chile

Portugal market share： 27.1%Insurance premium： 1,397 million EuroGuaranteed rate of return： existing policies 3%； new policies 2.5%

Portugal market share： 25.9% Insurance premium： 512 million EuroCombined ratio： 102.9 %

Total assets：Net profit：Average liabilities duration：Solvency ratio：Investable assets：Interest-bearing liabilities：

13,212 million Euro89 million Euro3.5 years194%12,560 million Euro0

100 mn

15%15mn

Private Equity Investment

DirectDirect DirectDirectThrough Fosun Insurance Portugal

Through Fosun Insurance Portugal



Own FundInvested

Own FundInvested

Return on Own Fund Invested

Return on Own Fund Invested

Agreement was signed, transaction has not been completed.

100 mn

15%38mn 18% 46%

Investment Regulation

Can invest up to 55% of its technical provisions in equity markets in EU and OECD countriesCan invest up to 50% of its technical provisions in real estateCan invest up to 15% of its technical provisions in non-EU/OECD or non-public securitiesCan invest up to 5% of its technical provisions in non-UCITS investment funds

14


During the first half of the year, Fosun sped up establishment of localized investment capabilities in overseas markets. It proactively invested in local platform entities, putting together local partner teams in Europe, the US, Japan, Hong Kong, Southeast Asian countries and regions. Ripping benefits from the significant acceleration of globalization of China's growth momentum, Fosun completed many investments across Asia, Europe and North America. Fosun's global investment strategies are based on “benefits from China's growth momentum” to further implement its “industrial-rooted global investment capability”, accomplishing a long list of value investment cases. IRR of the Investment segment was 20.5% since 2000 up to June 30, 2014.

INVESTMENT INCOME: INTO THE STAGE OF SUSTAINED RETURN

Industrial operations have been maintaining steady growth amid the volatilities in the economic cycles, and providing Fosun with a stable source of profits and funds to make further investments for years. During the course of development, Fosun has accumulated strong industrial foundations and network resources, which have become a distinctively differentiating advantage of Fosun in terms of its investment capability.

Since 1994, as at June 30, 2014, IRR of industrial operations was 34.8%. From 2004 to 2013, CAGR of industrial earnings was 23.0%, while the average payout ratio was 30.5%

INDUSTRIAL OPERATIONS:SUSTAINED & STABLE GROWTH

687

Fosun Pharma Forte

Nanjing Nangang

Hainan Mining

Planning for a full coverage of the healthcare industry chainCapitalizing on opportunities brought about by the aging population to expand foothold in medical services, establishing a system that covers high-end medical service, specialist service, and medical and rehabilitation serviceGlobalization I n t h e f i r s t h a l f o f 2 0 1 4 a c c o r d i n g t o C h i n a ' s Account ing S tandards , n e t p r o f i t a t t r i b u t a b l e t o s h a r e h o l d e r s o f t h e l isted company of Fosun Pharma after deducting extraordinary gain and loss reached RMB669.79 million, increasing by 34.54% year-on-year.

Businesses migrating to the Hive City Model and assisting strategic implementation of the Hive City projects

Enhancing innovation of high value-add products, driving gross margin higher, contributing to a turnaround of the core steel businessExploring export of capacity to Southeast AsiaE x c l u d i n g g a i n s f r o m disposal of AFS (available f o r s a l e ) i n t h e l a s t c o r r e s p o n d i n g p e r i o d , Nanjing Nangang's profit attributable to owners of the parent increased by RMB60 million year-on-year

Ranking first in integrated economic efficiency index, cost/expense profit margin; and second in contribution to total assets and per-capita profitability among 72 industry peers nationwide in the first half of 2014.Regarding the IPO progress, completed environmental s t u d i e s o f m i n e s a n d published the prospectus (application draft) on the websites of SSE and CSRC.

Industrial profit and dividend income

Breakdown of profit from industrial operations

Fosun Pharma

Nanjing Nangang

Hainan Mining

Forte Total

(RMB million)

RMB million

(RMB million) (Note)

Industrial Profit

Investment cost of existing projects Project Value Dividend/ Disposal Proceeds

Portfolio

Strategic Associates

Secondary market

Others(including VC

of 0.54%)

Dividend

year on year change

Note: According to Fosun's equity interests as at June 30, 2014. Note: (1) Of which there were 5 listed projects (2) PE investments in listed securities were excluded

Profit from investments for 1H 2014: RMB999.2 million

Earning CAGR = 23.0%

Marketable Securities: RMB14,436.1 million (Note)

16


Since 2010, the asset management business of Fosun has developed rapidly. As at June 30, 2014, total funds raised by assets under management amounted to RMB33.95 billion. In the future, our asset management business will continue to expand, which will be beneficial to the optimization of capital structure and achieving the purposes of risk mitigation, control of gearing and enhancement of gains. With the ongoing increase in insurance premium, Fosun will continue actively optimizing its LP structure, seek quality LPs which have synergistic effects with the Group and which Fosun can establish strategic cooperation relationships.

ASSET MANAGEMENT:A RAPID & QUALITY GROWTH

Accumulated funds raised （1）

C o m m i t t e d f u n d s f r o m internal resources

Accumulated No. of project invested

No. of new projects invested

Listed projects(2）

Profit attr ibutable to the owners of the parent

RMB PE fundsManagement fees + Carry

Domesticsocial security funds, insurance

funds and other institutional

investors

Unit : RMB million

QFLP fundsCarry

USD PE fundsManagement fees + Carry

RMB Property fundsManagement fees + Carry + Project development fees

Overseassovereign funds, large-scale insurance funds, family funds and other institutional investors

F o r e i g n c u r r e n c y property funds（3）

Management fees+ Carry

2013

24,655.6

4,375.2

68

16

2

51

2014H1

33,946.5

4,584.2

75

7

2

68.4

Return

Enhanced LP constituents

INVESTMENT INCOME: INTO THE STAGE OF SUSTAINED RETURN

20% 8%

7%

1%

13%71%

8%

26%

24%

22%

Listed projects: 5Cost: 252.1Market Value: 680.1

Unlisted projects: 28(Note)

Cost: 3,414Fair Value: 6,478.9

Cost of existing projects: 6,797.4Market Value: 10,948.4IRR: 30.7%

Cost: 2,614.9Fair Value: 4,408.3

No. of projects: 10Cost: 230

Commited funds: 3,800.3Actual investments: 2,640.6

Cost: 17,620.7Fair Value: 22,151.1

Strategic Associates

PE Secondary Market

VCLP Others

Notes: (1) Included Forte real estate series funds. (2) 2 projects are going through the process of listing by merger and acquisition, and 4 projects completed the pre-disclosure for IPO. (3) Fosun acquired a 98% equity interest in Japan's real estate capital management company IDERA during the reporting period under review.

RMB PE funds QFLP funds USD PE funds Property fundsForeign currency property funds

Consumption Finance Manufacturing, Energy and others Internet

Commerce, Tourism and Culture

SecondaryMarket

Unit: RMB million

Unit: RMB million

Note: 3 projects completed the pre-disclosure for IPO

RMB billion

RMB billion

RMB billion

0.620.62

0.62

3.77

6.86

6.92

8.97

11.5

11.88

8.843.29

5.68

5.69

18


In the second half of 2014, the recovery in the US gathers momentum, while Europe has bottomed out but yet to rebound. Such environment will provide the best “Combining China's Growth Momentum with Global Resources” investment opportunities for Fosun.

China: In the phase of transformation from “a small-scale of high growth” to “a large-scale of medium-to-high” economic growth.

Fosun's Global Investment Strategies：

Combining China's Growth Momentum with Global Resources: Folli Follie, St. John, Caruso, Tom Tailor, Alma Lasers, Studio 8, Secret Recipe, Osborne, Club Med, etc.

Seeking long-term, stable and low cost of capital: Fidelidade

Catering to needs of insurance capital, enhancing local investment capabilities: IDERA, BHF-BANK, One Chase Manhattan

Joint-development to expand businesses in China: Atlantis, Star Castle Senior Living, Pramerica-Fosun Life Insurance

GRASPING GLOBALINVESTMENT OPPORTUNITIES

Investment entity： Fosun Group USD PE Fund Portugal Insurance

Fosun Insurance Portugal2014 , Portugal

Secret Recipe2014 , Malaysia

IDERA2014 , Japan

REN2014 , Portugal

Studio 82014 , The USA

St.John2013 , The USA

One Chase Manhattan Plaza2013 , The USA

Club Med 2010 , France

Caruso 2013 , Italy Folli Follie

2011 , GreeceAlma Lasers2013 , Israel

(Proposed transaction isin progress )

ROC OIL2014 , Australia

Lloyds Chambers2013 , The UK Osborne

2014 , Spain

BHF-BANK2014 , Germany

Tom Tailor2014 , Germany

Opportunities & StrategiesIn search of quality capital, brands, technologies and projects around the globe, Fosun relies on its established industr ial foundations, channels and investment experience to assist these global companies and brands to jointly tap into the Chinese market and share the rapid growth of China.

20

21OPPORTUNITIES & STRATEGIES OPPORTUNITIES & STRATEGIES

BHF-BANK PROJECT ANALYSISEstablish position in personal finance and overseas channel

GRASPING DOMESTICINVESTMENT OPPORTUNITIES

Mobile internetIndustries related to middle-class lifestyle

New model of urbanization

SOE reforms

Healthcare Energy-conservation and environmental protection industry

The middle class population in China and their consumption amount will become the world's largest or second largest by 2020Value investing opportunities emerge from differences in understandings of the consumer market in China between overseas and Chinese investorsInvestment opportunities emerge from sluggishness of certain sectors of the high-end consumer marketE x p e r i e n c e - d r i v e n c o n s u m p t i o n , consumption upgrades and personal financing are set to benefit

Deleveraging from the Central Government will lead to participation of social capital in urban function development under PPP modelsFosun will leverage its resources to develop five Hive products: Travel & Leisure Hive, Logistics & Trade Hive, Culture & Entertainment Hive, Financial Services Hive and Healthcare Hive

Non-financial SOEs amounted to RMB104 trillion in aggregate, asset-liability ratio was 64.5%, ROA was 1.83%Reform of SOEs into mixed ownership structures has become a strategy and a consensus at the CCP party and national levels SOE reforms will be more scientific

-Management by categories: competitive, functional, public services

-Replicable models ready for promotion already found in Shanghai and Zhejiang

Healthcare might become the biggest industry in China in 8-10 yearsThe healthcare industry chain comprises training and educat ion , research and deve lopment , manufacturing, wholesale and retail logistics, medical services, senior care and financial paymentsThe value of the healthcare industry will exceed RMB8 trillion by 2020

Energy-conservation and environmental protection industry includes: Energy-saving industry, environmental protection industry, clean energy industry and resource recycling industryInternational experiences have indicated that the environment will not see significant improvement until investments in environmental protection surpassed 3% of GDPChina's investment in environmental protection will reach 2% of its GDP by 2015Our investment in environmental protection will grow at a CAGR of 16% during the Twelve Five-Year Plan period

The size of China's mobile internet market could be 3-4 times that of the USChina has outstripped the US in many aspects, including e-commerce, money market funds offered on the mobile internet, third-party payments, etc.Mobile internet, when connected to many traditional industries, can outsize PC-based internet significantly, e.g.Yu'ebao under Alipay, money market funds offered on the mobile internetInvest in pure mobile internet as well as high-growth traditional industries ancillary to the internet and O2O

DOMESTICINVESTMENT

OPPORTUNITIESSigning time

Consideration

Structure

Target companyassets

Strategic implicationsfor Fosun

Synergies

March, 2014

Euro 98.5 million, the PB was 0.78x

Acquire approximately 19.2%* interest in KBG (subsidiary company of Belgium Listed Company RHJI) to secure an indirect ownership of the German private bank BHF-BANK and the UK private bank Kleinwort Benson

As at March 31, 2014, BHF's total asset under management reached Euro 38.9 billion

Gain footholds in two big financial centres, Frankfurt and LondonEnhance integrated financial ability (own a private-banking business for the first time)

Utilize the strong network of BHF in Europe to guide Chinese enterprises to go global Assist BHF to expand business in ChinaAssist BHF's Europe-based customers to enter the China market

*( ) ：as at June 30, 2014

22


FOLLI FOLLIE IDERACLUB MED OSBORNE

Folli Follie's revenue in the first half of 2014 was Euro 479.0 million, up 10.3% from the same period of 2013. EBITDA was Euro 116.5 million, increased 30% from the same period of 2013

Folli Follie Group announced on June 24, 2014, a successful issue of Euro 249.5 million five-year convertible bonds at a 1.75% coupon rate and a strike price at Euro 40.763. The proceeds raised are mostly for bank loan repayment to significantly reduce f inancial expenses. Fol l i Fol l ie shares outperformed the broader market in Greece from January to June this year, up 18.8% in aggregate.

May 2011May 2014 July 2014

9.96% / Euro 72 million

Expanded distribution channels in ChinaEnhanced branding in ChinaShared media resources and government connection resources

Investment entity: Fosun GroupAggregate interests: 98%Accumulated investment: JPY6.8 billion (RMB0.41 billion)Managed assets: JPY145 billion(RMB8.84 billion)PB：0.98x

IInvestment entity: USD PE fundAggregate interests: 20%Accumulated investment: Euro 65 million

Japan is an important market in global property investment portfol io for institutional investorsAfter acquisition of IDERA, the Group can tap the property market in Japan efficiently and enhance assets management capability

Value investingConsumption upgradeExperienced-company with leading position in the industryStrong potential growth in China business

Enhanced IDERA's investment assets scale and staff effectivenessSupported branding, assets and resources managing for IDERA to prepare fund raisings

Expanded distribution channels in China Enhanced brandingShared media and government resources

1

Net Profit Unit : Euro million Unit : Euro million

Dong'ao Island resort has been in operation in the period under reviewAccording to Club Med's development plan, China will become the second largest market after France for Club Med by 2015

On September 12, 2014, Fosun, Fidelidade, The Top Managers of Club Med, ACF II and Utour JD-Investors, entered into an investment agreement, pursuant to which the parties decided to join forces to acquire Club Med. This offer has been supported by the management of Club Med.

June 2010

9.35% / Euro 41 million

Enhanced branding in China, sped up the development of China's resort projectsShared media and government connection resources, accelerated localization development

2

Net Profit

Investment time

Investment overview

No. of board seats

Fosun's value-add

Recent developments

Latest results

Investment time

Investment overview

Fosun's value-add

Fosun's investmentphilosophy

(note)

344.6

Note: Investment made on the Group level

25

24 OPPORTUNITIES & STRATEGIES OPPORTUNITIES & STRATEGIES

FULL LANDING OF “HIVE CITY (COMMUNITY)”, SERVING THE NEW MODEL OF URBANIZATIONThe Hive City (Community) products assist local governments in building core urban functions, integrating Fosun's industrial resources, featuring “Urban-Industry integration with urban development underpinned by industrial operations”, which can be classified into three levels:

Core industrial operations led by FosunTo further introduce ancillary industries that support the core industrial operationsTo promote “Urban-Industry integration” by establishing a 24-hour plus 3-in-1 vibrant community for work, consumption and living, as well as introducing living and consumption services industries

Solutions: core industries + ancillary industries + supporting industries

Atlantis ResortHainan, 520,000 sq. m.

Hubei XiangyangTianmao City: 1,500,000 sq.m.Shanxi Ankang Tianmao City: 600,000 sq. m.

Shenyang Yulong City: 193,000 sq. m.Dongyang Woodcarving City: 1,240,000 sq. m.

BFC: 426,000 sq. m.Chengdu Financial Island: 700,000 sq. m.

Star Castle Senior Living Community, Shanghai: 18,000 sq. m.

HIVE CITY (COMMUNITY)

Travel & Leisure Hive

Logistics & Trade Hive

Culture & Entertainment Hive

Financial Services Hive

Healthcare Hive

01

02

03

04

05

01

02

03

04

05

Project Name Categories GFA Description Progress

Shanghai Financial Center- BFC

Financial Island Chengdu

Shanghai Star Castle Central Community

Shenyang Yulongcheng

Dongyang Woodcarving Chinese Culture Exhibition City

Atlantis Hainan, Sanya

Tianmiao City Xiangyang, Hubei

Tianmiao City, Shanxi Ankang



Healthcare Hive

Culture &EntertainmentHive

Culture &EntertainmentHive

Travel & Leisure Hive



426

700

18

193

410+830

520

1,500

600

Located in the middle of Puxi Bund district and will be a new financial landmark on the Bund.BFC comprises five major functions including corporate event venues, corporate headquarters, shopping centre, boutique hotels and arts centers.

Located in the middle of Jinjiang, the mother river of Chengdu. It is the core financial district and will be developed into a business centre for the city.

A professional senior service company joint ly establ ished by Fosun and Fortress, the leading US senior care investment management.

Located in the core historical and cultural district in Shenyang, putting retail, tourism, culture and other formats under one roof.

Dongyang Woodcarving Chinese Culture Exhibition City and the China Museum of Woodcrafts.

Located in Haitang Bay in Sanya and wi l l house the wor ld 's th i rd Atlantis Hotel. It is worth investments aggregat ing RMB10 b i l l ion and scheduled to be completed in late 2016, seeking to attract 1 mil l ion visitors a year.

Located in the pr ime dis t r ict in Xiangyang city, Hubei Province.

Located in the high-tech district in Ankang City in Shanxi Province, a centre for six functions of internet contract enforcement, online trading, offline exhibitions, smart logistics, internet malls and amenities.

Proceeding as scheduled and will be completed by the first half of 2015.

The first phase of residences will be launched for sale in October 2014. The project will be developed on a rolling basis in phases targeting at completion in five years.

Occupancy ratio in the first phase close to 100%. Proceeding with planning and development for the second phase.

Had its ceiling topped out on June 26, 2014 and recruiting tenants at present.

The first phase has commenced operation while the second phase is still under construction.

Construction of the basic infrastructure is underway and targeting at commencing operations in September 2017.

The first phase will have a beta launch in May 2015.

Commenced construction on April 11, 2014 and is proceeding smoothly.

(thousand sq. m.)

26


PRECISELY GRASPING INVESTMENTOPPORTUNITIES BROUGHT ABOUT BY THERISE OF THE MIDDLE CLASS IN CHINA

GRASPING OPPORTUNITIES, ACTIVELY PARTICIPATING IN CHINA'S SOE MIXED OWNERSHIP REFORMS

High entry point in the movie entertainment industry

Commerce and Tourism

Embrace mobile internet

20.45% stake in Sanyuan

14.23% stake in CNFC Fishery(2)

13% stake in Zhongshan Public Utilities

20.45%

13%

14.23%

Investing in Studio 8, Bona Film Group, and signed a strategic cooperation agreement with Shanghai Film Group

CITS, Club Med, Atlantis project and Yuyuan, with new investment totaling about RMB635 million in the first half of 2014

After investing in Focus Media, Perfect World, Linekong Interactive(1) etc., we expanded our investment scope to cover mobi le gaming, marketing, social networking, office, education, entertainment, finance and healthcare sectors. The Group has a total of 18 PE & VC projects in the internet sector, amounted to about RMB1,850 million

Notes: (1) Invested by the fund under the Group (2) Agreement signed, pending for CSRC’s (China Securities Regulatory Commission) approval

28


IDEOLOGY OF “COHERENCE & INTEGRATION”

Fosun’s TeamFosun has developed an investment platform that helps its investees create value, leveraging its vast pool of resources accumulated over the past 20 years. With this platform, Fosun has been helping the investees enhance their values through exploiting synergies in resources, optimizing their management and rendering support in judgment and decision making, etc.

To achieve coherence, we need to enable constant communication and exchanges, whereas integration represents combination, synchronization and harmonization.

“Coherence and Integration” are fundamental values for the beginning and growth of life and qualities that the Group’s core management team expects from Fosun in its pursuit of rapid development. Looking ahead, Fosun seeks to adopt “Coherence & Integration” as our ideology to achieve integrated and seamlessly connected cross-platform investment, operation and management, thereby allowing resources flow without boundaries. All staff members of Fosun will also bear a “Coherence & Integration” mindset, integrate our wisdom and work as a coherent team, with a view to enabling Fosun to become a vital entity with sustaining growth.

Four co-founders started the business more than 21 years ago

Have a total of 56 managing directors, each of whom has more than 13 years of experience in investment/ financing/

project management on average

Investment, finance, HR, risk control, comprehensive

servicesGrid-and-Flat management

system

Efficientstructure

Excellent team

Entrepreneurs

ExperiencedOperators

Strategicdecisions

Efficientexecution

Professionalservices

Investment &financing experts

30

31FOSUN'S TEAM FOSUN'S TEAM

A COMPREHENSIVE LEARNING SYSTEM:FOSUN MANAGEMENT INSTITUTE"A single spark can start a prairie fire"We hope to groom each and every employee of Fosun into a dazzling star—A flame as we gather, and stars as we scatter.

FOSUN: EMPHASIS ON TALENTS

Fosun takes its staff force as assets of the highest value. The Group therefore attaches unparalleled importance to the sustainable development and nurturing of talents. To help implement the Group's corporate strategy and establish its corporate culture, Fosun encourages its staff to develop their personal skills and improve their performance, thereby enabling its staff to grow with the Company.

Through a talent supply chain system combining introduction of external talents and development of internal talents, we have collaborated a pool of leading talents in various industries. We care about the development of entrepreneurs and strive to establish an investment management team that recognizes Fosun's corporate culture and highlights entrepreneurship.

Our visions:Creating Fosun's own "Whampoa Military Academy" by cultivating a remarkable workforce mainly comprising entrepreneurs. Our workforce is required to meet international standards and possess world-class expertise to meet the development needs of the Group in advance swiftly, thereby enhancing Fosun's global competitiveness and influence.

Insurance

Leadership Development Program

Management Excellence Program

Young Leaders' Program

Fo-Star Program

Investment Series

Human Resources Series

Financing & Auditing Series

Others

Investment Globalization Mobile Internet Finance Resources Guidelines

Fosun continues to attract high-caliber elite from the investment industry, forming a workforce mainly comprising highly educated and accomplished employees.

Master or above Investment staff<30 yrs old 30~40 yrs oldBachelor Supporting staffDiploma and below Financing staff41~50 yrs old >50 yrs old

The average age of Fosun's employees is 36 years. A proper mix of all age groups provides a young, dynamic yet experienced and seasoned workforce.

A m a j o r i t y o f F o s u n ' s e m p l o y e e s a r e engaging in investment activities, a defining characteristic for an investment-oriented investment group with "China Expertise + Global Capacity".

Over the past 21 years, we have been insisting on:

Select Recruit Cultivate RetainAttracting

talents throughdevelopment

Evaluating talents through their performance

Training talents through

their works

Building our team through a common

cause

Learning Map

Professional Skill

Leadership

Develop

ment

Lunch Sharing Session Series

Investment Case Study

Fosun Forum

New Employee Orientation

32

33FOSUN'S TEAM FOSUN'S TEAM

Fosun’s Pursuit

FACILITATING THE REJUVENATION OF CHINESE ECONOMY & CULTURE

Self-improvement, Teamwork,Performance, Contribution to Society

It is Fosun’s incumbent corporate social responsibility to fulfill its corporate commitment in practice – to help protect and promote Chinese culture as well as eulogize the magnificence of Chinese culture for appreciation by more people.

Since its establishment, Fosun has always been grateful for the support it received while sharing the fruitful results with our staff and communities. Fosun has been contributing to education, helping disaster victims, and also encouraging the youth to set up business and supporting the growth of micro and small enterprises through charitable and innovative activities. Fosun cares about the natural environment and has taken an important role in promoting positive and sustainable development of society for years, thereby creating a harmonious business atmosphere with other corporations to jointly establish a new business environment. Chinese culture has a long history and a profound foundation. Fosun constantly works on the inheritance of traditional Chinese culture and culture exchange with foreign countries, from promoting Taichi to woodcarving art and Shanghai Symphony Orchestra. Fosun is strongly supportive of the rejuvenation of the Chinese economy and culture as its goal and mission.

34

35FOSUN'S PURSUIT FOSUN'S PURSUIT

FOSUN’S HONORS IN 2013 & 2014

Honors for operation

Honors for brand

Honors for CSR

Fosun International received “The Best Managed Company” at the Asia’s Best Managed Companies 2014 by FinanceAsia MagazineFosun International ranked No. 751 on “The 2014 Global 2000” of ForbesFosun International ranked No. 115 among “Fortune China 500” in 2014 by Fortune MagazineFosun International ranked among the top 50 “ Most Admired Companies in China” by Fortune Magazine in 2014 Fosun Group ranked No. 6 on the “2014 Internationalization Index of Chinese Enterprises”Fosun International received the “Triple A China’s Most Promising Companies – Market Pioneers Award” by the international magazine – “The Asset”Fosun ranked No. 3 among the “2013 Top 50 China Private Equity Investment Institutions” by Zero2IPOFosun International received the “2013 Best Listed Companies of the Year Award” by The Hong Kong Institute of Financial Analysts and Professional Commentators Limited

Fosun Group received the “Best Global Brands in China” Award at the 2013 Global Brand SummitFosun International won the Bronze Award for interior design of its CSR Report 2013 in the International ARC Awards – known as “The Oscar” awards for annual reportsFosun Group received the “Huapu Prize”, the highest honor of “Brand China” in 2013

Fosun Group received the “Best CSR Enterprise of the Year” award and the Pramerica Fosun Spirit of Community Awards Program won the “2013 Best Social Responsibility Project” award at the 2013 Corporate Social Responsibility Annual Conference of ChinaFosun Group was named the “Best Employer in Eastern China’ in 2013 by ChinaHR.comFosun Group received the “Most Respected Enterprise Award” for 2012-2013 by the Economic ObserverFosun Group was named “Credible Enterprise of China” by CCTV.com in 2013Fosun International received “Corporate Governance Awards 2013 – Gold Award” by the international magazine – “The Asset”

36

37FOSUN'S PURSUIT FOSUN'S PURSUIT

FOSUN WEIBO

FOSUN WECHAT

FOSUN WECHAT NAME

Wechat:

Wechat Account:

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