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Fosun International ( (HK:0656) ) has provided an update.
Fosun International has issued a supplemental announcement detailing Fosun Commercial Development’s RMB105 million capital injection into Zhejiang Shangmeng Technology, which operates licensed payment businesses via its subsidiary Sum Payment in China and holds a Hong Kong Money Service Operator licence. Shangmeng focuses on domestic acquiring and aggregated payments as well as cross-border settlement solutions for retail, e‑commerce and foreign trade customers, earning mainly transaction and scenario-based service fees.
The consideration for the capital increase was set after arm’s length negotiations, with Fosun highlighting the scarcity and strategic value of Shangmeng’s core regulatory licences, including China’s Type I and II stored value account operations and cross-border RMB capabilities, whose issuance has been tightly restricted since 2016. These licences, not reflected as intangible assets under Chinese accounting rules, underpin a valuation benchmarked against comparable listed payment processors whose price-to-book multiples range widely, suggesting the deal is intended to secure a valuable regulatory foothold and strengthen Fosun’s position in the Chinese fintech payments ecosystem.
The most recent analyst rating on (HK:0656) stock is a Hold with a HK$4.00 price target. To see the full list of analyst forecasts on Fosun International stock, see the HK:0656 Stock Forecast page.
More about Fosun International
Fosun International is a diversified conglomerate with operations spanning commerce, finance and technology, and it invests in sectors including payment services and financial technology. Through its subsidiary Fosun Commercial Development, the group is expanding into licensed payment processing and cross-border transaction services in mainland China and Hong Kong, targeting retail, e‑commerce and foreign trade clients.
Average Trading Volume: 10,333,004
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$30.39B
See more data about 0656 stock on TipRanks’ Stock Analysis page.