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Associated Press
30-06-2025
- Business
- Associated Press
Fosun International Garners Five Awards from Corporate Governance Asia
Chen Qiyu and Xu Xiaoliang, Executive Directors and Co-CEOs of Fosun International win Asia's Best CEO from Corporate Governance Asia Fosun International receives Sustainable Asia Award 2025, Best Environmental Responsibility Award and Best Corporate Communications Award HONG KONG, June 30, 2025 /PRNewswire/ -- On 30 June 2025, Corporate Governance Asia presented the 15th Asian Excellence Award. Chen Qiyu and Xu Xiaoliang, Executive Directors and Co-CEOs of Fosun International Limited ('Fosun International', 'Fosun' or the 'Group') (HKEX stock code: 00656) were both honored Asia's Best CEO. In addition, Fosun International was awarded Sustainable Asia Award 2025, Best Environmental Responsibility Award and Best Corporate Communications Award. Corporate Governance Asia is one of the most authoritative and influential corporate governance journals in the Asia Pacific region. The award recognizes outstanding industry leaders and enterprises that excelled in financial performance, corporate governance, corporate social responsibility, environmental protection, corporate communication and investor relations over the past year. Other award recipients of the 15th Asian Excellence Award include well-known Asia Pacific companies such as Sino Land, Sun Hung Kai Properties, Bank of China (Hong Kong), China Mobile, China Telecom, China Unicom, China Communications Services, China Resources, and PetroChina, etc. Recognizing Excellence in Business Performance and ESG Practices According to Corporate Governance Asia, in 2024, in the face of the complex and volatile external environment, Fosun maintained its strategic focus on core businesses, achieved steady development, enhanced the operational capabilities of its key industries, and demonstrated strong operational resilience. Amid the complex external business environment, Mr. Chen Qiyu and Mr. Xu Xiaoliang, as the CEOs of a global large-scale private enterprise, have not only led the Group to grow its business operations, but also strengthened the management of sustainable development, proactively fulfilled corporate social responsibility, improved the Group's Environmental, Social, and Governance (ESG) performance, and leveraged the resources and advantages of Fosun's global industrial ecosystem to continuously create a better world. In recognition of these efforts, they were awarded the Asia's Best CEO accolade. Chen Qiyu, Executive Director and Co-CEO of Fosun International, said, 'We are deeply honored to receive several prestigious awards from Corporate Governance Asia, including Asia's Best CEO and the Sustainable Asia Award. These accolades recognize not only individual achievements but also reflect the collective efforts of the entire Fosun team. To advance Fosun's sustainable development, we have established a top-down and long-term ESG improvement mechanism and has included ESG management performance as an evaluation factor in the Executive Directors' performance assessment. The ESG management performance appraisal mechanism is also extended to the CEOs of the Group and the personnel in charge of each business group. Fosun International is also committed to fostering innovation. We actively drive green innovation across biopharmaceutical R&D, consumer industries, intelligent manufacturing, and green building, with the aim of building a sustainable industrial ecosystem. Looking ahead, guided by our mission of 'Contribution to Society', we will continue to strengthen our ESG system, and promote green and sustainable development through technology innovation and global resources, thereby creating greater value for society.' Xu Xiaoliang, Executive Director and Co-CEO of Fosun International, said, 'Globalization is the core of Fosun's development. Fosun has consistently leveraged global resources and combined global growth momentum with global resources, delivering more high-quality products and services to families around the world. With an increasingly sophisticated global business presence, Fosun operated responsibly across more than 35 countries and regions, actively contributing to public welfare and creating sustainable value worldwide. As a global company rooted in China, Fosun began integrating ESG principles at an early stage, reflecting values deeply embedded in the Group's DNA and corporate culture. Since its founding, Fosun has upheld its original aspiration of 'Contribution to Society', striving not only to create commercial value but also to generate broader social impact. Looking ahead, Fosun will actively respond to national strategies, implement 'dual carbon' goals, promote rural revitalization, expand impact across global communities in areas such as healthcare, educational equity, community construction, culture and art. The ultimate goal is to help more families enjoy healthier, happier, and wealthier lives.' Advancing Global Sustainable Development with Outstanding ESG Performance Corporate Governance Asia highlighted Fosun's unwavering commitment to advancing global ESG efforts. The Group has consistently strengthened its ESG framework, deepened its involvement in ESG initiatives, enhanced its climate resilience, and accelerated green development. Corporate Governance Asia highly commended Fosun's efforts in advancing ESG, noting that its initiatives not only inspire the industry but also reinforce Asia's vital role in the global journey toward carbon neutrality. The publication recognized Fosun's commitment to addressing social and environmental challenges as a benchmark for industry best practices. As a result, Fosun was honored with the Sustainable Asia Award 2025, Best Environmental Responsibility Award and Best Corporate Communications Award. These accolades not only affirm Fosun's outstanding performance in promoting global sustainable development and fulfilling corporate social responsibility, but also highlight its steadfast dedication to ESG knowledge sharing and climate advocacy. As a responsible global citizen, Fosun officially joined the United Nations Global Compact ('UN Global Compact') in 2014. It fully supports the ten principles of the UN Global Compact on human rights, labor, environment and anti-corruption, and has deeply integrated these principles into its 'Create IMPACT' sustainable development strategy and code of conduct. Over the past year, despite the global environmental, social and economic uncertainties, Fosun remained committed to sustainable development, diligently upholding its long-term commitments in key areas of sustainable development, and achieving good results. Fosun International maintained an MSCI ESG rating of AA, achieved an HSI ESG rating of AA-, ranked in the top 5% among global peers in latest S&P Global's Corporate Sustainability Assessment (CSA), was included in S&P Global's Sustainability Yearbook 2025, and was selected as the top 1% in S&P Global's Sustainability Yearbook 2025 (China Edition). Actively Responding to Climate Change and Promoting Low-carbon Transformation Fosun actively responds to the national 'dual carbon' goals by promoting carbon neutrality and energy conservation and emission reduction. In 2021, Fosun made a commitment to society – 'strive to peak carbon emissions by 2028 and achieve carbon neutrality by 2050". Fosun has formulated strategies for climate change mitigation and adaptation to align with the 1.5°C temperature control target set in the Paris Agreement. As 2024 marked the final year before Hong Kong Stock Exchange's New Climate Requirements came into effect, Fosun International proactively aligned with international standards such as the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Requirements, and released its third Climate Information Disclosures Report, enhancing the transparency of its climate actions and demonstrating its commitment to ongoing efforts in this area. The Group also actively encourages its member companies to carry out climate actions. The Bund Finance Center (BFC), the Group's base in Shanghai and a landmark in Shanghai, maintained its LEED Platinum certification, a global green building benchmark, and was included in Shanghai's first batch of carbon peaking and carbon neutrality pilot demonstration projects in 2024. In 2024, Fidelidade participated in the 29th session of the Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change for the second consecutive year to discuss climate change response strategies and corporate responsibilities with industry peers. During the COP29, Fidelidade launched the Impact Center for Climate Change (ICCC), a platform for the study, research and sharing of knowledge with society. The ICCC promotes knowledge production in the field of climate risks and helps the insurance industry enhance its capacity to address climate change. Leveraging Innovation to Actively Contribute to Society Fosun adheres to the innovation-driven strategy, and the anticancer and antimalarial drugs developed by its health segment have widely benefited cancer patients and severe malaria patients. Henlius' innovative drug, HANSIZHUANG (serplulimab injection), an anti-PD-1 monoclonal antibody, was approved for marketing in the European Union in early 2025. This milestone makes it the first and only PD-1 innovative drug approved for the first-line treatment of extensive-stage small cell lung cancer (ES-SCLC) in the European Union. As of the end of 2024, Fosun Pharma's independently developed artesunate for injection had saved more than 80 million severe malaria patients worldwide, with more than 400 million doses supplied globally. In the Chinese mainland, Fosun Kairos' first CAR-T cell therapy product, Yi Kai Da (ejilunsai injection), had benefited over 800 lymphoma patients as of the end of 2024. In order to better promote the fulfilment and implementation of corporate social responsibility, Fosun Foundation was established in 2012. It has been making unremitting efforts in the fields of global emergency relief, rural revitalization, health, education, culture and art, youth development, etc. to create social value. Among these initiatives, the Rural Doctors Program has supported 25,000 rural doctors and benefited 3 million rural families since its launch in 2017. Looking ahead, Fosun remains dedicated to advancing its social responsibility through innovation and responsible global operations. Guided by its 'Create IMPACT' sustainable development strategy, Fosun will intensify its efforts to build a more responsible, inclusive and sustainable future. View original content: SOURCE Fosun
Arab News
19-05-2025
- Business
- Arab News
Argaam names top CEOs of 2024 in finance, tech, health and more
RIYADH: Last week, the Argaam Financial Portal team organized the inaugural Argaam Summit, bringing together a distinguished group of experts and specialists from the financial sector to discuss the future trends of the financial market in the Kingdom of Saudi Arabia. The summit sessions addressed a range of vital topics of interest to investors in the financial markets, including macroeconomics, global challenges, prospects for developing the Nomu Parallel Market, incentives for attracting companies to list in the financial market, as well as digital transformation and innovation in financial markets. One of the summit's highlights was the launch of the first edition of the Argaam Award for Best CEOs of 2024, aimed at highlighting leaders who have made a real difference in their companies. This award reflects Argaam Financial Portal's commitment to supporting transparency, governance, and institutional excellence. Its criteria were developed based on a precise methodology that includes the company's financial and operational performance, the direct impact of the CEO, and the level of disclosure and transparency. Notably, the Best CEO Award was presented in a grand ceremony for each sector based on several criteria, such as the CEO's tenure, which must be no less than two years, and the company's growth rates compared to the previous year in key indicators like net profits, shareholders' equity, revenues, assets, margin improvements, return on equity, and return on assets, while considering sector-specific financial indicators. Additionally, the company's level of disclosure and transparency was evaluated, including the presence of transparent governance, adherence to accounting standards, and an active investor relations department. Banking sector Waleed Abdullah Al-Muqbil, CEO of Al Rajhi Bank since 2020, has over 24 years of experience in the banking sector. Under his leadership, the bank maintained its market share despite challenges from rising interest rates and recorded significant growth in deposits, financing, and assets. In 2024, it surpassed its closest competitor, the National Commercial Bank — which merged with Samba Bank — becoming the leader among Saudi banks in customer deposits and financing. The bank also achieved its highest quarterly profits in history and set record levels across various financial indicators. Telecommunications sector Aliyan bin Mohammed Al-Watied, CEO of STC Group since 2020, has over 20 years of experience in the telecommunications sector. Under his leadership, the company expanded into new areas such as the Internet of Things, fintech, and data centers, contributing to revenue growth and increased market share in 2024. The 'Tajra2 2' strategy was adopted to enhance its role as a key enabler of digital transformation, alongside implementing a program to improve operational efficiency. Financially, the company maintained revenue growth, achieved an increase in operating profits compared to the previous year, and continued to grow shareholders' equity while maintaining its market share. It also announced future dividends for the next three years, reflecting the management's commitment to implementing its long-term strategy to investors. Healthcare sector Ahmed bin Saleh Baabir, CEO of Dallah Healthcare, holds a Ph.D. in Agricultural Engineering from Iowa State University, US. Under his leadership, Dallah Healthcare actively acquired several hospitals, increasing the number of hospitals and beds, thereby enhancing its market share in the healthcare sector. Financially, the company continued to achieve revenue growth, recorded an increase in operating profits compared to the previous year, and maintained its position in the market. Insurance sector Tal Hisham Nazer, CEO of Bupa Arabia since 2011, holds an MBA from the Wharton School, University of Pennsylvania, 2001. Under his leadership, Bupa strengthened its position as a leader in the health insurance sector in the Kingdom, capturing a 26 percent market share in the insurance sector and 45 percent in the health insurance sector, maintaining this share despite significant market competition. Financially, the company recorded its highest insurance revenues in 2024, supported by an increase in total written premiums, and achieved its highest profits, positively impacting shareholders' equity, which reached record levels. Transportation sector Fawaz Abdullah Ahmed Danish, CEO of Budget, holds a Bachelor's degree in Law from King Abdulaziz University, 1993. Under his leadership, Budget maintained its market share by expanding its fleet and opening new showrooms, in addition to executing strategic acquisitions of companies like Al Alamiah Cars and Overseas Development, increasing the fleet size to over 53,000 vehicles in 2024 compared to 35,000 in 2023. Financially, the company experienced a historic surge in revenues and profits driven by these acquisitions, with shareholders' equity rising by approximately 45 percent compared to the previous year, reaching unprecedented levels. Agriculture sector Mazin Abdullah Ba Dawood, CEO of Al-Jouf Agricultural, holds a Bachelor's degree in Chemical Engineering from King Abdulaziz University, 1993. Under his leadership, the company enhanced its position as an industrial agricultural company by expanding its share in the olive oil market and opening a potato chip production plant in 2024, contributing to increased revenues. Financially, the company achieved historic revenues in 2024, with profits and shareholders' equity reaching their highest levels in nearly a decade, driven by a strategic transformation plan toward an integrated model combining agriculture and industry. Retail sector Mohammed Jalal Ali Fahmy, CEO of Extra Stores, holds a Bachelor's degree in Accounting from Ain Shams University, 1985. Under his leadership, Extra Stores achieved its highest revenue and profit levels in 2024 since its establishment, supported by growth in the retail sector and expansion in consumer financing through 'Taseel,' while maintaining market share and increasing the number of branches to 55 in three countries. The company also embraced digital transformation and enhanced its e-commerce, with shareholders' equity reaching its highest levels following the partial listing of its stake in United Electronics Co. Oil and gas sector Mohammed Farouk Abdulmajid Abdulkhaleq, CEO of Addes, holds a Ph.D. in Systems and Control Engineering from Case Western Reserve University, Ohio, US. Under his leadership, Addes faced challenges last year due to the suspension of some rigs in Saudi Arabia but successfully redistributed these rigs to new markets such as Qatar, Thailand, and Egypt, enhancing its financial performance and reducing dependence on a single market through geographic diversification. Real estate sector Abdullah bin Faisal Al-Braikan, CEO of Retal Urban Development, holds a Bachelor's degree in Architecture from King Faisal University in Dammam, class of 2006. Under his leadership, Retal achieved a record-breaking project volume in 2024 and reported its highest revenues since inception. This growth was driven by exceptional development contracts, resulting in unprecedented gross and net profits, in addition to the highest number of units sold in the company's history. Information technology sector Omar Abdullah Al-Naamani, CEO of Solutions by STC, holds a Bachelor's degree in Computer Engineering from King Saud University, 1994. Under his leadership, Solutions strengthened its position in the IT sector in Saudi Arabia, capturing a market share of 22.7 percent, thanks to a series of strategic acquisitions and alliances over the past years. The company has continued its growth trajectory since the COVID-19 pandemic, and by the end of 2024, it recorded its highest-ever revenue and profit levels, driven by an increase in cumulative contract value.
