Morning, everyone. Dear investors and analysts and dear friends, good morning. Welcome to Fosun International 2021 annual results announcement. I'm the General Manager of Capital Market and Investor Relations of Fosun International. I am San Lu. Today, we are going to have the online conference. To begin with, I would like to introduce our leaders of Fosun International. Mr. Guo Guangchang, Chairman of Fosun International.
Hello, everyone. I'm Guo Guangchang. Executive Director,
Co-Chairman of Fosun International, Mr. Wang Qunbin.
Hello, everyone. I'm Wang Qunbin. Thank you.
Executive Director, Co-Chief Executive Officer of Fosun International, Mr. Chen Qiyu.
Hello, everyone. I'm Chen Qiyu.
Executive Director, Co-Chief Executive Officer of Fosun International, Mr. Xu Xiaoliang.
Hello, everyone. I'm Xu Xiaoliang. Welcome to today's conference.
Executive Director, Executive President, Chief Financial Officer of Fosun International, Mr. Gong Ping.
Hello, everyone. I'm Gong Ping.
Welcome.
Dear investors and analysts, for today's announcement, we are going to have morning and afternoon session. In the morning session, it will be presented by Fosun International management regarding the annual results and strategic development. In the afternoon session, the leaders from health and happiness and the wealth and intelligent manufacturing sectors to share with our investors and our analysts the 2021 annual results and to future development. In 2022, it marks the 30th anniversary of Fosun over the past 30 years. We are resilient and we are going to have accumulated capabilities to power the future. First of all, we would like to invite Executive Director, Executive President and Chief Financial Officer, Mr. Gong Ping, to give us the introduction to financials. The floor is yours, Mr. Gong.
Dear investors and analysts, good morning, everyone. Welcome to today's annual results announcement. Due to the pandemic, it's a pity that we cannot have a face-to-face communication, but we are still very honored and pleased that today we would like to share with you our annual results, especially our business operation and the strategic development. On behalf of the board of directors, I would like to first of all share with you the financials in 2021. As we all know that last year for the whole group we have successfully addressed many challenges. For example, the resurgence in both China and outside China, and also the volatility in the capital market and also the uncertainties for the geopolitical situation. We continue to keep on our resilience, and we have already seen the recovery and also the pickup.
We have also set up our core strategic capabilities with very good results and for our strategic growth in 2021. We have achieved a total revenue of CNY 161 billion, up by 18%. We have the profit amounting to more than CNY 10 billion. For the industrial operating profit, and in total, it amounts to more than CNY 10 billion, up by 30%. In this regard, I believe that it is about our core profitability and also our core competency in terms of the revenue and the profit and also the operating profit. You can see in terms of the CAGR, it is more than 10% over 10 years. Here, I would also like to highlight not just the financial numbers.
At the same time, we also believe that some of the indicators for our sustainability. First of all, it is the total investment and of our science and technology innovation last year for the whole group. In terms of the innovation and R&D, the total investment in this, then CNY 8.9 billion. In China, we ranks in around . Here you can see that. Well, it covers in different industries, health and happiness, wealth and also manufacturing. We have also reaped a very good fruits. Here you can see we have more than 1,500 authorized invention patents. At the same time, we have more than 500 new products under R&D. Then in terms of overseas revenue, thanks to our globalization, it is also growing dramatically.
You can see the overseas revenue amounts to more than CNY 67 billion, covering more than or around 30 countries. Here you can see that we have around 396 million operational members, up 11%. Of course, for different members in terms of loyalty and also the interaction and etcetera, are still yet to be included. It represents our fundamental. Next, I'm going to share with you more details and also by our two Chief Executive Officers. Let's take a look at our revenue for our full business and segments. Here, in terms of Health, including pharmaceutical devices, diagnostics and healthcare services. We have the Wealth, including insurance, asset management, HIVE investment, and also Happiness, including brand consumption, tourism, and culture, as well as intelligent manufacturing.
You can see that they have achieved double increases. It means that on top of the performance in 2020, here you can see that the growth rate is more than 20% and also in the second half of last year. Based on the first half of last year, you can also see the growth more than 20%. It demonstrates that we have overcome a lot of difficulties and forged ahead. You can also see all these detailed numbers on the slide. Let's take a look at the next slide. Let's take a look at our 5 core subsidiaries. For these top five contributors, including Yuyuan, Fosun Pharma, Fosun Insurance, Fidelidade, Peak Re, and FTG. They accounted for around 79%.
Also for our Fosun Pharma, you can also see the growth rate is 28%. You can see that FTG is greatly impacted by the COVID-19, but they started to pick up last year, and we can also see it grown by more than 31%. For Peak Re, you can also see they continue to move ahead. You can also see that we haven't seen very high growth for both in Peak Re and Fosun Insurance and in Portugal. We have also developed some new domains and with very good results. For Easun, you can see that they have also been growing dramatically and by more than CNY 1.5 billion. For the Hainan Mining, they grow by more than CNY 1.3 billion.
Also for Time Taylor, and they have also improved dramatically by more than CNY 1.2 billion, including NAGA and also Baihe Jiayuan, and also for our Sports Group. Of course, we still have some pressures. For example, for some individual real estate projects impacted by the macroeconomy. Overall speaking, for the entire group, you can see that in terms of the profit and income on the rise, and we still have very steady capital in terms of the debt structure. In our financial report and in terms of the active fundraising in the open market during the reporting period, including overseas syndication loans amounting to more than CNY 33 billion. Also for the cash and bank balances and term deposit, it amounting to more than CNY 96 billion. We continue to optimize our debt structure.
We have the average cost of debt of 4.6%. Here you can see that we made a further optimization of the cost of debt. In the previous year it was 4.8%. Thanks to very good share price and also our continued growth and added value for our fundamental operation. At the end of last year, you can see that our NAV is HKD 28.1, up by 10% versus the previous year. In terms of leverage ratio, it continues to trend down at the end of last year. You can see it was 53.8% and down by 0.5 percentage points. I also believe that we have achieved very good results. Actually, at the same time, we are very keen on the continuous implementation of financial strategy.
First of all, it is the optimization of our debt structure and in terms of equity financing and also the transparency of portfolio. In terms of the capital structure, we have made a lot of efforts. Here you can see that over two years, we have achieved a very good balance of investment and divestment. We have already achieved three digits for the divestment. We also encourage our subsidiaries in order to strengthen our capabilities to capture the momentum for M&A. That is the controlling and shareholding, for example, taking Fosun Pharma, and they have made an upgrading, and they have acquired Antejin, 73.1% of their shares of Antejin. Another M&A for our H&A. In September last year, they have also acquired another smaller private bank.
On January 1st this year, the name of this bank is changed to HAL. Here you can see that they have secured their position in Germany. Here are some of the examples of R&D and also M&A. For Mr. Tang Bin, our Chief Executive Officer in this sector, you can see a very long list of these upgrading and M&A projects. At the same time, we are also very active in the exit from these non-strategic and non-core assets. We have also seen very stable rating from Moody's and Standard & Poor's. Also in the Euro market, we are the only Chinese and private enterprise to issue more than one euro bond with different maturities. We successfully issued the first Chinese private enterprise and purely U.S.$ Bond in Shanghai Free Trade Zone.
We also issued a six-year U.S.$ bond with a coupon rate of 5%, which has the longest maturity in the existing U.S.$ bond portfolio. Fosun Insurance Portugal completed the first issue. The $500 million with more than 10-year maturity subordinated capital debt. For the equity financing, we have also made a lot of achievements. You can also see we have enhanced the transparency of an asset evaluation. For our portfolio companies, we have more than CNY 616 billion for the book value. We have also introduced the third-party investor. Our investors can have a clear picture of our valuation. Take SyspMed, for example. You can see we issued a private placement in July last year for Fosun Care.
We completed the new funding in early 2021. Yesterday, Lanvin Group announced that we have a merger with Primavera Capital and the SPAC. It is still in the process, and it is highly expected. For Fosun Sports Group, we have also introduced our U.S. investor as well. Also for our JV, we have also completed the new round of funding. For our whole group, we are running very stably, both internally and externally in the capital market, and it is highly recognized in the market. We believe that we can provide a better dividend for our shareholders. Here you can see that over the past 14 years, we have a cash dividend amounted to HKD 22.7 billion.
The Fosun shares and buyback account of HKD 4.24 billion in total after being listed. Here you can see that our long-term stock performance outperformed our Hang Seng Index and Hang Seng Composite Index, and especially last year for the whole year. In total, we spent around HKD 1 billion Hong Kong dollar to buy back the stocks. That is also the acknowledgement by our management. That is the introduction to our financial performance. For more details, and I think, and I'm more than willing to answer your questions in the next session.
Now I would like to give the floor to our two Chief Executive Officers and to talk about our business and also for future growth. Next, I would like to invite our Co-Chief Executive Officer, Chen Qiyu. Thank you, Mr. Gong, for your introduction.
Now, I would like to invite the Co-Chief Executive Officer of Fosun International, Mr. Chen Qiyu, to talk about our full business line. The floor is yours, Mr. Chen Qiyu.
Now I would like to give you some of our business operation last year. First of all, let's take a look at our health business. Here you can see that we put emphasis on our own technological innovation, and we also try to build a medical-grade and one-stop and full scenario health ecosystem from pharmaceuticals and medical device and diagnostics and health services and products. In 2021, for our core business, for example, for Fosun Pharma, and you can see that they have already achieved more than CNY 38.86 billion, up by 28.8% for their new products. Also, the value accounted for 25%.
Also in terms of the overseas revenue, you can see that it is also growing dramatically. For the medical devices and also for diagnostics, the revenue amounted to RMB 5.93 billion. R&D investment amounted to RMB 4.98 billion, up by 24%. Health services revenue amounted to RMB 4.12 billion, up by 29.8%. Here you can see that the net profit attributable to the parent, you can see that it amounted to RMB 4.74 billion, up by 29.3%. The net profit after extraordinary item was RMB 3.28 billion, up by more than 20%. You can see we made a lot of investment on R&D. Thanks to our investment on R&D in the long run. We have also started to launch more and more new products.
Our innovation capabilities are also improving dramatically. In 2021 you can see that our total investment was more than CNY 4.9 billion. You can see most of them have been invested in pharmaceutical. You can see that in our pharmaceutical the total investment was more than CNY 4.4 billion. CAR T is one of our priorities. You can see that last year we have launched the first CAR T-cell therapy product in China, Yikaida. We have already seen more than 100 patients enrolled in the treatment process. For Henlius, we have also seen a lot of progress.
As you can see, since April we have quickly started the serplulimab HCC indication NDA, and also in September, actually we have already submitted the application for NDA for serplulimab non-small cell lung cancer. In December, actually we have achieved the primary endpoint for our international multicenter phase III clinical trial for small cell lung cancer. Last year, in terms of the vaccine and vaccination, we have acquired Antejin. So already we have Aleph, which is a viral vaccine platform, and now we have the bacterial vaccine and vaccination R&D and also manufacturing technology. This is further diversifying our pipeline. We also have, as you know, Comirnaty, which is the mRNA-based COVID-19 vaccine.
By the end of February 2022, actually more than 20 million doses have already been delivered and also administered in Hong Kong, Macao, and also Taiwan region. We have four biosimilars already launched into the market, for instance, including HANLIKANG and also HANQUYOU. They are the leading biosimilar in the market segment. Now let's look at our global operation landscape. As we know that beyond China last year, actually our revenue was CNY 13.6 billion. Actually this number in 2020 is eight point nine billion. Therefore, you can see the proportion up to the total revenue is 35%. In the United States already we have established our second headquarter, and we have capacity there, and it focus on clinical trial, registration, application, and R&D, and also marketing.
We have the local team, and also we have the R&D capability in North America for medical devices as well. In India, we acquired Gland Pharma, which is an Indian company, and it has enjoyed steady and stable growth. As you can see here, the revenue has increased by 29.5% year-on-year. In Africa, we are expanding the market. For instance, now we own a commercial team, about 800 professionals covering 39 countries and regions in Africa. Actually, in October 2021, Port-Gentil distribution center was put into operation. Also in Europe and also for instance in Israel, we also have our own team, and we really have a global footprint.
During this pandemic, MSD, U.S., and also Pfizer, U.S., well, they have produced or they have come up with an oral medicine. For Fosun Pharma, already we have gained authorization from MPP for the manufacturing of the oral medicine. If you look at our pharmaceutical revenue structure, actually it is optimizing in the past several years. For instance, well, as you can see, for our new and also recently launched products account for more than 25% of the total revenue of the pharmaceutical segment. For the Comirnaty already, the doses has surpassed 22 million. If you look at our rituximab, the revenue is CNY 1.69 billion, with a 125.3% year on year increase.
For our trastuzumab, our HANQUYOU, the revenue is CNY 930 million. It is the first biosimilar product approved by China and also Europe. HANBEITAI already has successfully been included in China's National Medical Insurance, and currently the sales revenue is CNY 430 million. For Gland Pharma, its revenue increase is 29.5%, as I talked about. For our medical devices, it is on a steady and stable growth as well. If you look at our medical cosmetology, the core company here is Sisram Medical, which is a Hong Kong-listed company. It has achieved a 22% growth last year and in both profit and also revenue. It is increasing its scale-up capability in medical cosmetology.
It is expanding into, for instance, consumables. For instance, like the long-lasting botulinum toxin. It has the household beauty apparatus. In terms of professional supplies, we have Intuitive Fosun, which is a global leader in surgical robotics. It is a joint venture. Last year, if we look at da Vinci installation, actually it is, in total we now have 73 units of installation, and also we have an increase of 80 units year-on-year. Bausch Index Medical. Well, it is the exclusive licensee of products of many large multinational companies.
It is collaborating, for instance, with our domestic companies to produce, for instance, the mobile emergency medical platform, and also, for instance, the mobile ambulance and also the mobile diagnosis treatment platform. The specialized vehicles with different types of treatment and equipment on board. Breas is doing a very good job. For our Fosun Diagnostics, actually it has acquired 58.67 acquisitions of AbbVie Carter. It has covered, for instance, diagnosis and also biochemical diagnosis and also microbial diagnosis. Going forward for our health services, we focus on model innovation. It is based on our offline hospital and clinic networks, especially in the Yangtze River Delta and the Greater Bay Area and Pearl River Delta.
We have a very sophisticated offline network already in place. We have the online services. Now we are trying to combine the online with the offline. We already upgrade our Fosun Healthcare into Fosun Health Plus. In the future, we'd like to provide a closed loop and also one-stop platform to provide health services and also care services for our family clients and continue to build up our core competency. In terms of growth rate, it has 30%. For instance, we have acquired a new hospital in the Greater Bay Area, the third affiliated hospital of GDU. We are building our ecosystem product, so Medicare Plus, insurance plus services. Now I want to switch gear and to talk about our happiness.
In terms of happiness, we focus on our family clients and also to provide them with enhanced experience and also to build our globalized and also industrial ecosystem. As you can see here, these are the dashboards. The total revenue is CNY 66.9 billion with 19.4% year-over-year. For Yuyuan, its revenue is CNY 51.06 billion, 12.2% year-over-year. For FTG, it's CNY 9.26 billion, and also revenue increased by 31.2%. For Fosun Sports, CNY 1.6 billion, 20% year-over-year. For Baihe Jiayuan, CNY 1.41 billion, and also with 25% year-over-year. For Yuyuan, it is on a steady and stable growth path. Its revenue has been grown by 12.2%.
For the profit attributable to the owners of the parent, it is again increased by 6.9% and to CNY 3.86 billion. Also if you look at our 2020 revenue breakdown, well, for the consumer industry, it is accounting for 64.7%. For the fashion and also jewelry, it has increased rapidly, and it has account for 83.0%. For the boutique expansion, it is more than 600. Last year, I think it's 602, and also growth for the spirits. Also, it is increasing rapidly. For the profit is CNY 1.2 billion. For the Jinhui Liquor for the first three quarters, it has a year-on-year increase of 28.3%.
Profit increased by 53.1%. However, in the fourth quarter, it is okay. Its core market is in Gansu and Shaanxi, and due to the pandemic there, it has felt the dent or feel the blow. However, still, if we look at the total one year development, it still do a very good job. Also for holiday. Last year, we see the pandemic is subsiding and it has enjoyed a very strong rebound. If you look at its revenue, it has achieved CNY 9.26 billion. That is a 31.2% year-on-year increase. For the adjusted EBITDA, actually, it has achieved CNY 810 million of EBITDA in the second half of 2021.
Therefore, it has enjoyed a strong rebound in the second half. Also for Club Med, well, actually, it has the 2022- 2024 mid-term plan to open up 17 more resorts and villages in the next three years. Therefore, you know, the following is a strong rebound. Basically, it comes from the Club Med reopen in the overseas markets. Therefore, in the second half of 2021, we can see its year-on-year growth for Club Med at 180%. For Atlantis Sanya, it has a more than 18% CAGR growth rate, and also it has CNY 1.41 billion. Also we have recombined Thomas Cook, reconsolidated, and we have moved it online. It has gained great acceptance as well. If we look at our sports and also our wedding businesses, for instance, Lanvin Group.
Well, the revenue has increased to 23% and the Lanvin, the core brand, it has achieved 103% year-on-year increase, and the Greater China region has increased about 122%. We have acquired the equities from Sergio Rossi. Well, for Lanvin and also for Primavera company, they were listed into the New York Stock Exchange through SPAC. For baihe.com, it has achieved a turnaround and also it has acquired new brands like Huayue Wedding and also SS Wedding and also for our sports and Wolves actually ranked at 8th place. In terms of wealth, well, wealth is our one of our core businesses. It's insurance plus asset management to increase our return on investment and also to create our ecosystem.
We divide it into insurance and asset management. The total revenue is CNY 43.7 billion with a 2.8% year-on-year increase. Also the profit to shareholders is CNY 5.16 billion with a year-on-year of 13.5%. For Fidelidade, year-on-year increase of 38% and EUR 4.91 billion of premium income. HAL, it's a 32% year-on-year increase and also EUR 300 million euro revenue. These are the dashboards for wealth. Now let's zoom in to look at insurance. The premium actually has achieved CNY 60.2 billion and also with the investable asset at RMB 1.7 trillion. It's RMB 172.74 billion.
Actually for Fidelidade and Primavera, they enjoyed a very strong track record last year and also has a 15% increase in the profit attributable to shareholders. They have achieved a very good matchmaking with our ecosystem services areas in terms of senior care and also healthcare. In terms of our investment asset management, the AUM, as you can see here, is RMB 1.803 trillion. We have gained a license not only in China, but also in Europe and also for instance in Brazil and in other places, in other regions. This shows our globalization and in terms of HIVE asset management. We have the twin driver as HIVE and Plus industrial operation. Domestically, as you can see here, our total asset is CNY 433.4 billion.
Our domestic investment is more than CNY 15.14 billion. For the overseas HIVE, the AUM is CNY 14.43 billion. Now let's look at intelligent manufacturing. Here we have the smart intelligence, intelligent manufacturing, and also we have the gray resource industry. For instance, we have the digitalization and also environmental protection and also industrial IoT and et cetera, and also smart mobility. As you can see here, the profit attributable to the parent shareholders is CNY 3.58 billion, with a year-on-year increase of 70.1%. For NISCO, its revenue is CNY 75.67 billion, year-on-year increase of 42.9%. As you can see in terms of profit attributable to the shareholders, the year-on-year increase is 43.8%. It's a very amazing performance.
As you can see, the advanced steel, actually the product has accounted for the 17.4% of the total revenue. It has 65 products and for instance, like anti-crack steel and also the structural steel and also for our coke products and also projects in Indonesia, it will be a new driving force for our future development. We have invested in the Wansheng Chemical, which is for flame retardant. For the Hainan Mining, its revenue is CNY 4.12 billion, 49.0% year-on-year increase. Profit to shareholders is CNY 870 million and with a year-on-year increase of 513.6%. It has reduced its procurement cost and investment in the pipeline gas and also it has developed 2 high-yielding wells.
Therefore. Well, it is riding along the way for commodities and achieved high growth rate in profit and also in revenue. For Easun Technology and JEVE Power and the casinos, they have all developed rapidly throughout 2021. The NISCO, this is the dashboard for it. Since 2015, 2016 till now, we have achieved a turnaround. Now the revenue is CNY 5.6 billion. It shows our traction, it shows our core competency and also potential for profitability. We attach great importance in environmental protection to lower the energy consumption and also lower emission. We continue to make outward investment and to make our way into new materials. This is the dashboard for Hainan Mining. The revenue and profit has significantly increased.
Basically it is through lean management and to further stabilize the profitability and also shore up the profitability significantly. We use the strategy called Resource Plus Hainan, and also we make our way into the new energy industry. This laid a solid foundation for Hainan Mining going on into the future. Apart from Nesco and also Hainan Mining, in intelligent manufacturing, we have some other state companies. For instance, as you can see here, we have Wansheng, which is a newly acquired company. It is a leader in the fire retardant globally. It is deeply rooted in China and they serve the global market. Its net profit is CNY 800 million-CNY 850 million with a year-on-year increase of up to 116%.
Also for business environment, it has also gained a lot of attention in the past several years.
You can also see that the contracted scale of more than six million tons on the whole treatment. They are also developing some new projects. For Easen Technology. Shanghai Easun Technology acquired 100% equity of FET in May 2019, and also has the world's leading intelligent manufacturing solution service provider. Previously, they served a lot of auto industry, and they have also completed the head office in Shanghai as well. Beyond the automotive industry, they are going to move into other domains as well. For JEVE. It is also one of the leading new energy producer. In order to provide new products and then also we are dedicated to provide the new energy solutions. Currently, the capacity is on 4 GW and then also 22 GW capacity is under construction.
That is our full business and sectors. Thank you for listening.
Thank you, Mr. Chen. Next, we would like to invite the Co-Chief Executive Officer of Fosun International, Mr. Xu Xiaoliang, to share with us the strategic development. The floor is yours, Mr. Xu Xiaoliang.
Dear investors and analysts, good morning. Now I would like to share with you some of our plan for our strategic development over the past one year impacted by the pandemic. We can see that it is still persistent. We have seen very complex and a volatile environment. We have seen both opportunities and challenges, as mentioned by Mr. Chen Qiyu. For Fosun International, and with our very stable performance results, and we have demonstrated our resilience and also capability against the risk in 2022, and it marks the 30th anniversary for Fosun.
We feel most happy is that we would like to continue to make contribution to the society, and we would like to continue to serve our global families. We really would like to create happier life for families in the world. In order to have an ecosystem for both the wealth and happiness and the wealth over the past three decades. There are also a lot of changes in addition to the market size and also the number of our employees and the business coverage. We have different priorities in different stages. For example, from investment layout to twin driver, and then from China Momentum, connecting global resources to Global Plus and China two-way empowerment. Ultimately speaking, these transformations are going to stay true to original aspiration and mission.
While we are changing our tactics, Fosun has also come up with the four engines, and that is an FC2M ecosystem and FES system, globalization and innovation driven. These are the propellants for Fosun International to achieve the current results. It is also the guarantee for continued high growth. Last year, Fosun International has identified these four core engines and for our future strategic development. Today, I would like to give you more elaboration on these four engines. To begin with, we are going to build our FC2M ecosystem, and then we want to have the integration between the M end and the C end, and also the link. Starting from the client's needs, then we want to make them happy. On a sustainable way, we want to provide good products and services for them. Then for F.
It is about Fosun and the family. That is an F for Fosun. You can see that our ultimate goal is to serve the global families with different structures. For the C end, there are two dimensions. One is our client as members, and then is systematic membership. It means that and we have to operate our clients as our members in order to provide the best-in-class products and services. At the same time, that we have to have a different classification for members, for consumption and for employees, for corporate members, and we can continue to provide innovation in order to make them happy and satisfied. At the same time, the entries to these or access to these members and will also be interconnected with each other. Therefore, the M end, that is about innovation and R&D over the past years.
You can see that, and we have already come up with some good products and for example, HANLIKANG has also grown by 126% amounting to more than CNY 1.6 billion. These are the new opportunities for the patients with cancer. Our CAR T products have also been listed in the commercial and also the National Medical Insurance. From America, Fosun Care has also launched the high-end senior care insurance. We have a better supply chain and flexible control. We want to make sure that we can have breakthrough technologies. The flexibility means that it is more custom-made and also elastic production and ordering system. Therefore, the FC2M.
You can see that in we have launched two membership systems and Fosun Health and Fosun Alliance step by step. These different platforms and scenarios can be integrated together with for our members. Just within half a year, we have already launched more than 15 brands from 35 industries for Fosun Alliance. 20% of our active members can choose from this Fosun Alliance. In terms of globalization, we are the practitioner and also the beneficiary of globalization. Over the past years, you can see we continue to upgrade our globalization capabilities. Here you can see for both globalization and localization. We have been seeing 2 engines. By the end of last year, the sales revenue from overseas countries and regions accounted for 42%. We have our business coverage in around 30 countries and regions.
The total revenue for China global touring empowerment is more than CNY 10 billion. Here you can see we have both existing growth. For example, HNA acquired L Bank. It consolidated its position in Germany. Lanvin Group has also acquired Sergio Rossi from Italy. We have seen the growth from zero to one. For Nanjing Iron & Steel, it has also set up the Indonesia coke production base. In terms of the globalized capital market financing, just now our two colleagues already mentioned that in Lanvin Group in 2021. This year, have also made the new announcement to be listed in the New York Stock Exchange. The Fosun Singapore Capital Management Center was also established to connect with global capital and empower the domestic international high-tech projects. We have also seen R&D is also improving.
For example, for the Fosun Pharma, we have also achieved an American authorization. So you can see it is also highly acknowledged in the international communication. Let's zoom in the scientific innovation. For Fosun, we also dedicated to scientific innovation last year, and we invested CNY 8.9 billion for the innovation in order to empower our multiplied growth. At this moment, we have more than 1,500 licensed patents. At this moment, we also have more than 500 R&D products. In major cities and across the world, we have also set up a different R&D center. In order to deliver our core technologies, for example, the first biosimilar, and also the first CAR T therapy in China.
Not long ago, after the Beijing Olympic Games, the special weathering steel from Nanjing Iron & Steel has been used in the Beijing Winter Olympic Games. Next page. For Fosun, until now, in terms of industrial operation and also investment, there are a lot of success stories. At the same time, we didn't really have very good summarization of our experience. Step by step, we have developed this FES. Fundamentally speaking, we want to have a customized management system to go forward. This then is also our experience or best practice of Fosun over the past three decades. We hope that we can continue to empower our high-speed growth. Here you can see that we have multiplied growth and also entrepreneurship, ecosystem growth, lean operation, and risk management.
For these five modules, we have developed more than 100 professional tools. More than 50 core enterprises have launched FES talent programs. It is translated into practice. On the ongoing basis, they will become our engines. We will continue to summarize on our experience and continue to evolve our FES. Let's also take a look at our ecosystem organization. In order to implement the strategy, we need to have the guarantee from our organization to set up a system, and we need to have a three-dimensional organizational structure over the past one year. Here you can see we have an upgrade in our organization structure, and we have our four committees, overseas operations, science and technology, innovation, ecosystem, and FES committees in order to better build and also facilitate on our four engines.
Based on this and talk about the management committee, you can see we want to fully stretch ourselves vertically and horizontally. You can see that we have vertical business and including business units and the horizontal, and we have our general business capabilities. We also have a functional back office in order to support both the vertical and horizontal business. With this structure, let's also take a look at our lineup. In this ecosystem and the different dimensions, we need to have the partners with entrepreneurship and in different nodes, and then they can also be fully integrated with each other.
Then you can also see that currently we have more than 140 global partners, and then also 240 industrial partners and 350 functional line partners and 30 innovation partners. We hope that in the future we can have 300 global partners. It is believed that with the leadership by all these partners, we can have better synergies. Let's take a look at our key talents in addition to our partners. In order to improve our fighting spirit, we also have to offer teams with entrepreneurial spirits for our key talents in different positions and domains, and then capitalize and maximize their values. For example, we hope that we can have more than 3,000 future entrepreneurs in the mid-tier.
We also need to have 30% of the young talents. In order to be more sustainable, we also need to have more than 100 top scientists in the first ecosystem in order to improve on our innovation in science and technology. In order to synergize and energize our system and based on the current system and in terms of the goal-driven mechanism and the battle assurance and talent development, we have upgraded our mechanisms. For example, we have the one plus two plus seven strategic planning mechanism and also three six and one multiplier growth. That is the goal to achieve 30%, 60% or even 100% for different portfolio companies. We also have the two-track mechanism for KPI and OKR. We have a very clear and also very transparent target.
At the same time, we have dynamic authorization mechanism in order to make sure that, and we can ensure that these, programs and procedures can be implemented smoothly. With a holistic talent development mechanism, we hope that we can improve their moral route. For example, we have a rotation system and then also have a different dimensional partnership mechanism, so they can also be promoted or demoted. We want to have a very sound cycle for our talent. At the same time, we can also push forward the core business and also core talents. Next, let's take a look at the corporate culture and the enterprise is the tree and the culture is the root. For our strategy and over the past three decades, that is always about self-improvement, teamwork, performance, contribution to the society for the past year.
We would like to continue to do the eight things that we have to bear in mind. The customer is always the priority. That is also our original aspiration. We also put a lot of emphasis on the ESG, so you can see very good results in terms of environment. Based on the national carbon neutrality strategy, we set up our carbon neutrality committee to help our member companies to define the strategic responses to carbon neutrality. We want to achieve carbon neutrality by 2050 and also carbon peak before 2028. We continue to launch our Rural Doctor project, and until the end of last year the Rural Doctor project has already covered more than 70 counties in China and helped more than 24,000 rural doctors.
Then we have also launched more than 200 million artesunate injections to help our kids and also the people in Africa. We are fighting the epidemic both in China and outside China. You can always see our humanitarian measures and the projects. That is about the spirit of ESG, which is implemented across the group. With the ESG guidelines, it will be embedded in our development for our ecosystem. You can also see some of our results of ESG, which is always acknowledged by the capital market and the rating agencies. In terms of the MSCI ESG rating, you can see that it has been increased from BBB to AA last year. For the Hang Seng Corporate Sustainability Benchmark and Hang Seng Index and also FTSE Russell.
You can see that our rating on ESG is continuing to grow. Here you can see what we have done in terms of strategy and corporate governance. Here I would like to thank you all once again because due to the pandemic you are still with us for our online announcement. I thank our investors. Thank you so much for your consistent support. Also the support by people from all walks of life. Thank you for your support. We can continue to grow over the past 30 years in order to create happy life for the global families. That is the mission for all Fosunners in us. I think including the families and for all our investors, and as mentioned by Mr. Ngo in his message in the shareholders letter.
Actually, no matter what is happening, this is our permanent pursuit for a happy life, the essence. What we are going to do in Fosun is to deliver more warmth and love to the society and happiness. Maybe it is about the happiness and health, also wealth, but it is a very abstract idea. We believe that in the way that Fosun Industries we can see more tangible happiness. Maybe it is Club Med and travel, or maybe it is just a soup noodle at a Song He Lou restaurant. Or maybe it is the CAR-T cell therapy, or maybe it is a train ticket for the Hangzhou-Shaoxing-Taizhou Railway.
We believe that COFR, that is the look of happiness in the next three decades, and we will continue to strive for our global families.
Thank you for the presentation. Now I would like to open the floor for questions.
Now I'd like to kick off our Q&A session, and we have pre-collected some questions, and I will pose the question on behalf of our analysts and also investors. Okay. The first question comes from Analyst Peter from Essence Securities. Peter asks, "Since the Ukraine and Russia war, actually we see a huge disruption and also changes in European Union market. We know that Fosun has a global footprint, especially in European Union. Mr. Guo, what is your view on Europe's situation, on well, Fosun's Fosun International's businesses, and also what is your next stage of planning for the European Union market?"
Well, thank you. Thank you for asking this question. Well, from my perspective, if we look at Fosun International's footprint in European Union market, actually it is quite sophisticated right now. Currently we focus on industrial operation.
We are still in the middle of a pandemic. Compared with the pandemic, actually the war in European Union actually presents a less influence than pandemic for us. However, if the war persists, then of course in the future it will have a certain impact. If you look at pandemic, actually it has a huge blow for our fashion industry and also for our holiday businesses, FTG's businesses. However, if we look at the past performance, we show the resilience or we show the strong rebound in no time, no matter for our fashion businesses or for our tourism businesses. They all rebound really rapidly in no time. As we gradually out of the woods of the pandemic, especially in Europe, the Europe market will have a rapid rebound and also a quick development.
If you look at Fosun International right now, of course we focus on investment, but we are not only focused on investment. We have the twin driver and another driver for us is industrial operation. In the past phase of our development, we focus on globalization and also our global expansion. In the current stage, and basically, we focus on industrial operation and, on top of our globalization capability and also to shore up of, our FDS capability and also innovation capability, technology R&D, capability. These are my views for this question. If we look at our overall journey, so in the past 30 years, every year is not easy for us. Still, we stay resilient, and also we accumulated the capabilities to empower the future.
We already have incubated a lot of companies from zero to one, and also we have made ourselves as a sophisticated global operator, as a global company. Well, in the next stage, basically, we will continue to focus on industrial operation and also to shore up our global partnership mechanism and also to shore up our R&D investment. Last year, our R&D investment, as you can see, is at CNY 8.9 billion. Everything will revolve around our strategy that is to put our family clients, our family consumers at the center. We're quite sanguine about the future. Of course, it will not be a smooth ride. We are faced with well, challenging challenges.
We need to stay true to ourselves and also to adhere to our core competency and also to adhere to our predetermined strategy, and then to put one foot in front of another. Here I'd like to thank our investors and also our shareholders for your long-term support for Fosun International.
Well, thank you, Mr. Guo. Actually, Mr. Guo has already covered the second question. The second question I have on hand is from Guotai Junan, the chief analyst, Liu Xinqi. His question is, we saw Fosun has covered 30 years of a journey and you have a changing strategy. Since 2019 actually for Fosun International, well, again, to talk about in-depth industrial operation plus investment as the twin driver. Actually, we have a high expectation for the transition of the strategy of Fosun International.
Could you talk about the implementation of a strategy and also what is the current situation, whether there is milestones that you can share with us? Also what is the outlook for the evolving strategy going forward? What is your expectation and also outlook for the future? I'd like to pose this question to Mr. Wang Qunbin.
Hi, good morning. My name is Wang Qunbin. Well, thank you. This is a great question. Many people talk about Fosun International's transition, and our twin driver is investment plus in-depth industrial operation. Mr. Guo Guangchang has already covered that. For Fosun International, we always adhere to industrial investment and industrial operation since day one. However, in the recent years, we began to talk more about industrial operation, and also we talk about the best practice, for instance, the FES management system and also the rule book.
We began to have deep analysis of the tools that are available. As Mr. Guo said, well, now we have the FES ecosystem building. We have keep a close tab on globalization and also on our R&D. You asked about the milestone, whether we have something to showcase. Actually, if you look at our annual report this year, it's a wonderful example, because as you can see, the CAGR growth rate for our profit and the revenue of our industrial operation. Well, this year, the CAGR is 30%. It's 30%. Around 30%. We achieved such a mind-boggling number under pandemic and also under the changing environment, international and domestic environment. If you look at our C-end customers, Xiaoliang has covered that. Well, the number is increasing every year.
After we put C-end on top, we'd like to not only see the increase in the numbers, but also see the interplay with the C-end customers and to provide them with the accurate and also with the right products in health, wealth, and also happiness and also intelligent manufacturing. On the other hand, we have never ignored the importance of an asset. Therefore, we see the increase of our R&D investment and to produce more wow products for our clients. After we improve the investment of our R&D, now we see a diversified pipeline of our products and also portfolio. We have some ecosystem product. For instance, we see the nice interplay between the integrated care and also insurance and also healthcare. Xu Xiaoliang has covered all that. Just like Mr.
Guo has already covered. On going to the future, we will continue to stay true and also adhere to our slogan that is self-improvement, teamwork, performance, and also contribution to the society, and also to provide the health, wealth, happiness, and intelligent manufacturing products to our 1 billion family consumers. On one hand, we will focus on our domestic market to be a company that is deeply rooted in China, but also to go beyond China and to have a globalization and also to have in-depth operation in the regions beyond China. Under such a sophisticated ecosystem to make our family consumers happier and also to provide them with a better customer experience.
Thank you, Mr. Wang. The next question also goes to Mr. Wang. It comes from Radissa, Jack Lu.
His question is, so as a global capital investor, well, actually, we see greater attention attached to ESG. Also we look at Fosun International, we found that your ranking in terms of ESG is really good. It's amazing. What is your strategy and also plans on ESG? Actually you have more than 100 subsidiaries in all markets in the world. How could you integrate sustainability and also sustainable development concept into every day of working? Also last year, we see, for instance, the common prosperity proposed by the central government and also the increase of input into the social welfare and also well-being. What is your strategy on riding along the wave?
Well, thank you. This is also a very good question.
For Fosun International, of course, we attach a great importance on ESG, and now people call it as ESG. Actually, since day one, in our core value, the last part of our core value is a contribution to the society. Also since day one, we've talked about five clients, employees, consumers, partners, investors, government, and also community. We'd like to provide a very high satisfaction to all these clients and also to show our corporate responsibility on going forward. Actually, since day one, we have integrated these concepts into our development. Now you call it as ESG. ESG is a super important dimension when we're considering our performance, our annual results. Also, ESG requires patience, requires time, and it cannot be realized overnight.
We're quite lucky because since day one, it is in our genes, in our DNA. Of course, we optimized this concept and also our daily practice along with the waves we see in the market. Actually, in our daily work and also in our industrial operation procedures and also processes, we have attached a great importance to ESG and sustainability. More importantly, we have a mechanism to guarantee the realization of ESG. We have BOD, and within BOD, we have ESG committee. In our C-suite and management level, we have established such an ESG committee. Also we have the ESG steering committee and also the working group. It includes all the C-suite and also more than 20 departments in Fosun International.
We benchmark ourselves with the top players in the industry, and also we find our gap, and then we optimize our practice. This is really a top-down and also bottom-up process. Through this steering committee and also working group, we hope that we can really mobilize all the subsidiaries and also our affiliated companies, our partners, and really to integrate ESG as a key performance indicator into their dashboard, because we know it is a cornerstone for future successful development. In your question, you also mentioned the central government's proposal, that is the common prosperity and also to increase the input for social welfare. For Fosun International's perspective, well, just like Mr. Guo and also BOD always said that our core value is self-improvement, teamwork, and also performance and contribution to the society.
Also, as I have mentioned, one of our core clients is our own employees and also community to enhance their satisfaction. We hope that, on one hand, we can provide them with the products and the services they need, and also to make them enjoy working with Fosun, working in Fosun. In terms of philanthropy work, in terms of charity, Fosun International has increased our input. Actually, back in 2012, already we have established Fosun Foundation, welfare fund, and also in the last several years in anti-pandemic campaign in Hong Kong and also in Shanghai and in other regions in China. We are practicing our slogan, our core value, that is our contribution to the society, to shoulder our share of effort and wisdom, and to deliver on our commitment to our five key categories of our clients.
In doing that, we can create our added value to the society, to the community, and also to the well, not only in China, but also overseas. Thank you. We always say that what is happiness? Well, actually, to work and also to have interplay with Fosunners, you will know, you will understand what is happiness.
Now I'd like to switch to Carrie Zhang from Goldman Sachs, and his question is. Foliday has received a huge blow from the pandemic. However, in H2 2021, Club Med has demonstrated super strong rebound in overseas market. I'd like to ask about the rebound situation of Foliday and also what is your outlook for the future? Because, you know, in domestic speaking, we are still in the middle of pandemic. We have another wave of a pandemic currently in China.
What is the Club Med situation in domestic China? Could you share with us more updated information? Beijing Winter Olympics has successfully concluded. Holiday, actually, you have a lot of, for instance, skiing resorts and many provided by Club Med. In 2021, well, in Canada, in Quebec, and, actually, we have the Charlevoix resort and also in Changbaishan in northeastern China region. Also, we have a newly opened resort. Have a resort from Club Med as well. Could you talk about the outlook for Club Med and also the planning going forward?
Well, thank you for the question. Holiday has also released its annual report. Last year, actually, its revenue stands at CNY 9.2 billion and also with a 3% year-on-year increase.
It has indeed enjoyed a super strong rebound in the overseas market, and also it has 11% year-on-year growth rate in, well, pay-up growth rate in the overseas markets. Actually, in the second half of last year, its revenue is CNY 4.6 billion. Actually, year-on-year, it is a 180% growth compared with the same period of 2020, and it has recovered 70% of the capacity. As we can see from this data, actually, we are still not out of the woods of a pandemic, but still they are faced with a super fast rebound. Once we see the finish of the pandemic, actually, we can see the pick up of the, for instance, the traffic and also the number of customers and also their consumption power.
We are quite sanguine about the future of the tourism industry, and we believe with the subsiding pandemic, it will enjoy super strong rebound. Look at Atlantis. The total revenue is RMB 1.46 billion, with a 19% year-on-year growth. We have waves of a pandemic. However, in total, Atlantis has received 4.7 million tourists. It shows the hard work of our team. On one hand, they are fighting the pandemic, and they keep the whole environment clean. They have a service portfolio, they have service innovation, and continue to improve customer satisfaction. Only by doing that, they can achieve such mind-boggling data of business. Many thanks to our team. All these numbers showcase that, first of all, we are quite sanguine about the tourism market.
We believe it has a huge pent-up demand ongoing to the future. We believe that the pandemic will surely pass, and it will embrace its spring for the tourism market. Also for the Beijing Olympic Games, of course, many investors attach a greater importance to that as well. On the Winter Olympics, the government encouraged that we need to develop a skiing market and to encourage more than 300 million people to participate in the skiing resort, ski sports.
At this moment, by the end of this year, we can see that globally speaking, FTG will have 23 skiing resorts going forward, FTG, by 2024. Another nine skiing resorts will be opened together with Club Med and Casa Cook. We are going to expand our landscape in China and also in neighboring countries currently. We already seen nine skiing resorts and hotels to 11 skiing resorts and hotels. We are also developing the Taicang holiday town. That is an alpine scenario, so that is an indoor skiing center. With all these, we are very optimistic about the future ice and snow business and the market. We will continue to be very proactive to accelerate and strengthen this business landscape, and we will continue to bring into play our strength in ice and snow business.
We will continue to go further. That is some of our thoughts. Thank you for listening.
Thank you, Mr. Xu, for your answer. Okay, let's take a look at the next question. Okay, the next question comes from Mr. Deng from AP Firm. His question is that for Fosun. Oh, my question is related with an mRNA and a vaccine of biotech. How about your sales in 2021? We know that the vaccine and it has been sold in Hong Kong, Macau, and Taiwan regions. In 2022, what do you think about the sales of this vaccine? We're also very keen to know that, and how about the procedures and the process of this vaccine approval in Chinese mainland.
Next for Fosun Pharma and two COVID-19 medicines that have been authorized by MPP. How about the progress of these two medicines? Mr. Chen Qiyu, would you please answer this question?
Okay. Well, for the COVID-19 vaccine, last year in Hong Kong and Macau and Taiwan region, they have been vaccinated. In our representation, 22 million doses have been sold and 20 million doses in Hong Kong and Macau and Taiwan region. The total revenue amounted to more than $500 million in 2022. Because we have also seen some of the resurgence of the COVID-19, including in Hong Kong region and also in Macau and the Taiwan region. The follow-up on vaccination will continue.
Since then, on March 5, Hong Kong government has also purchased another, the negotiation is still ongoing together with Hong Kong and Macau and Taiwan. We are very optimistic about the vaccine. The question is about the approval of this vaccine in Chinese mainland, and a lot of people are paying attention to that. At this moment, we are still in very active communication with the authorities. It is also hoped that with the support and also the guidance by the national authorities, we are also going to facilitate the approval and the registration of this vaccine. If there is any update, we are also going to keep the market closely updated. Next is about MSD and then also Pfizer and COVID-19 and medicine and also the authorization from MSD and Pfizer.
Actually, in January, we received the authorization. Actually on January 20th, MPP announced 27 generic drug producers which are authorized to produce the MSD oral medicine against COVID-19. In order to supply it to more than 105 low and middle-income countries, Fosun Pharma is one of the manufacturer for the API and the formulation. On March 17th, MPP announced the authorization for 35 manufacturers to produce the COVID-19 formulation of Pfizer, that is Paxlovid. The authorization and will be made to manufacture the COVID-19 and the medicine to 95 low-income and mid-income countries. Five domestic manufacturer have received the authorization, including Fosun Pharma.
As the authorized pharmaceutical manufacturer and then based on the specific authorizations by MSD and Pfizer and also in combination with our production technologies and also process and development capabilities, it is also related with technology transfer and also the development. The reason why they would like to do this by authorizing, because it is hoped that in these middle-income and also low-income countries, quality drugs at a relatively lower price, it can be supplied to them. Later on, we will accelerate our technological development for this and technology transfer in order to minimize the cost and our production facilities, and we will also be optimized.
We are going to choose the best-in-class facilities, for example, Guilin and Southern Pharmaceutical and the Yaoyao Pharmaceutical because they can comply with the rules and also the requirements by WHO to produce those and the formulations and medicines. With the further approval, it is hoped that such medicines can be supplied to those countries and markets. Thank you.
Thank you, Mr. Chen. Well, due to time limit, the last question. Okay, the question comes from Citi Securities and coming from George. His question is about Fosun International, and in terms of the asset and the debt ratio is very stable. Last year we have also seen the decline of the cost of debt.
My question for the management, in addition to the cost of the debt and also the duration of the debt. What are the further measures or indicators to ensure the financial stability going forward, which will not be impacted by a single subsidiary, and also try to ensure the liquidity and also operation? Another question. We have seen the volatility of the global liquidity and also the uncertainty of the macroeconomic situation. How about Fosun's liquidity at this moment and also at present and also going forward and then what are your strategies? As the analyst in the listing over the past and more than 10 years, we have seen continued dividends. We have also seen more share buyback over the past years.
My question is about the dividend distribution and also the strategy for the share buyback. Okay. I think it's better to ask Mr. Gong Ping our Chief Financial Officer to answer this question.
Okay, thank you for your question, George. Over the past seven years in our annual results announcement, and then we made a lot of communication with the capital market. We have very consistent financial policies and discipline and for our financial strategy, first of all. In terms of the credit rating, this is one of our priority, as you can also see that in the Standard & Poor's and also in other international rating agencies. We always have a very stable rating result. We always believe that and for underlying business and the healthy operation is essential for our sustainability.
In terms of our operation and management, we have very clear targets for operation and in financials. With the systematic and financial budgeting, we want to improve on operation on the ongoing basis in terms of net profitability and the core profitability and also in terms of the growth of our revenues. You can see very good end results for all our business segments over the past years. We are very dedicated to the balance and of our investment financing and also divestment. We will also proceed with strategic merger and acquisition through our subsidiaries. We don't do the financial investment or pure financial investments. Actually, we are dedicated in to the M&A in the new domains rather than the pure financial investment.
If there's no strategic impact, we will also then try to exit at the appropriate time. Once the subsidiary can come to a good time, we are also going to do some equity financing. You can also see some new M&A cases including the Livent Group, our recent M&A case. We want to move forward very stably. That is our fundamental principle. For example, the diversification is a very good hedge against the current capital market. We also have the diversification in terms of both the business and also our staff. That is a very solid chassis. We have a lot of cash and also high liquidity in the group level. Here you can see we have hundreds of billions of cash or liquidity.
In the secondary market. We also have nearly 40 billion in shares. Therefore, we can include the assets of our controlled subsidiaries. Altogether, we have highly liquid assets amounting to more than CNY 116 billion. For mature subsidiaries, you can see we also encourage the dividend distribution. You can see continued growth of the dividend distribution over the past years and the last year. You can see that we have nearly CNY 5 billion for the dividend, in the previous year, the CNY 4 billion for the dividend, in two years before last year, the dividend distribution is more than CNY 3 billion. You can see we have a very solid liquidity and also operation.
We will continue to dance with the dynamic in the capital market. We also have the partnership with more than 100 domestic and international banks. We have very good and partnership and also the credit line with these and banks. We also have the fundraising amounting to more than CNY 30 billion, including the RMB and the U.S.$ bonds, as well as the syndication loans. Last year, we continued to extend the duration of the debts, so the cost of debt has been declined. The leverage rate is also going down. We have also set up the EUR strategy. This is also about our globalization strategy and capabilities. In the global capital market, we are already a true player. At the same time, we have also completed our...
A strategic investment in both the primary and secondary markets. We are also a renowned and active fund and management firm. We also manage in our own PE and VC and other funds. According to the ranking of the Fund Association. We have very good track record in our rankings, and also taking the leadership. We have very healthy and also sustainable and also very sound performance results, and with a very solid foundation. I think this is also one of our engine to build our global competitiveness. I think another question is about our strategy for dividends and distribution and the buyback in 2021. Then we have HKD 1 billion for the share buyback. Here you can see that we have fully recognized our long-term investment.
We also believe that for our strategic subsidiaries, we will continue to optimize the shareholding structure. We have increased our sharing of Fosun Pharma. Overall speaking, we have a very consistent financial policies over the past years. According to our latest resolution by board of directors, the dividend distribution for last year and have the continuous. Here you can see that this year the dividend distribution will be still around 20% in order to pay back to our shareholders. I think this is my brief answer to this question. Thank you.
Thank you, Mr. Gong, for your answer. Before we close our morning session, for this annual results and announcements, it is a pity that we cannot have face-to-face communications with our analysts and investors.
I think before we close the morning session, Mr. Guo would still like to say a few remarks with all of you. Mr. Guo, please.
Okay. I would like to appreciate your support by all our shareholders, and also thank you for your support and for our board and myself. Personally, I believe that over the past three decades of growth inside Fosun, I think at this moment, we can give more payback to our shareholders. With our efforts, we have shaped our global capabilities. I think not many Chinese companies which can have this global capabilities. I think, although we have a systemic trend of some anti-globalization, but we can see a lot of benefits from globalization. I think such globalization capabilities can create more values for our shareholders going forward.
Next, we made sustainable and continuous investment in innovation, which will also give us more dividends in the future. Take our pharmaceutical example, and also other investment in technology innovation will become our revenue. They will become our future income and also profit. We will continue to enhance our investment on innovation. You can see we have very effective results from this investment on innovation. Thirdly, in terms of the industrial operation capabilities, we have already completed the transition from zero to one. In the future, we expect an even faster growth. When the pandemic ends, we believe that our fashion and also our tourism business will continue to recover and also grow at a very high speed. I believe that they will also become very important engines to push us forward.
Next is about Fosun's investment capabilities, which will empower different industrial segments. I also believe that our investment capabilities can enable all our industries, which will play a more proactive role. With the twin drivers, we will continue to create more values for our shareholders. Of course, it will be dependent on FES and also our organization. Of course, it depends on the concerted efforts and by all Fosunners. We are also going to develop a better incentive and mechanism to make sure that every Fosunner can play their due roles. With the C-end on the top, over the past years and exploration, our Fosun Health and also Fosun Alliance and also evolving. Also for our vertical platforms, they are already in very good place.
What I would like to communicate with our shareholders, and we are going to keep our resilience and accumulated capabilities to power the future. That is the theme of today's announcement. It could demonstrate our efforts over the past 30 years, and we are also going to be more optimistic about the future. Thank you once again for your support. We will continue to carry forward.
Thank you, Mr. Guo, for your concluding remark. I would like to thank our shareholders, investors and analysts for your participation. This is the end of our Fosun International 2021 annual results and announcement. Just a kind reminder, our afternoon session and for our four business segments, we begin at 1:30 P.M.
We are going to have the leaders from our listed companies, and we're also going to introduce our non-listed companies, and also Fidelidade and Pramerica and Jeffy and Lanvin and Fosun Health. They are going to share with us their operation and strategy. See you in the afternoon at 1:30 P.M. Thank you.