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Securities Firms Maintain “Buy” Rating on Fosun International, Highlighting Significant Success in Business Streamlining Strategy and “Strategic Advancements and Exits”

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HONG KONG, April 8, 2025 /PRNewswire/ — Industrial Securities and Kaiyuan Securities recently published research reports highlighting Fosun International (00656.HK)’s accelerated exit from non-core assets and continued focus on core businesses. The reports stated that Fosun has increased its proportion of overseas revenue while maintaining overall stable revenue. Additionally, Fosun has continued to optimize its debt structure, with interest-bearing liabilities showing a downward trend. Both firms reaffirmed their respective “overweight” and “buy” ratings on Fosun International.

According to Fosun International’s 2024 annual results, the company has reported a total revenue of RMB192.14 billion. Its four core subsidiaries – Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and Fosun Tourism Group – generated a total revenue of RMB134.65 billion, accounting for 70.1% of the Group’s total revenue. Its industrial operation profit reached RMB4.9 billion. Excluding the significant one-off effect, the profit attributable to owners of the parent amounted to RMB750 million. Meanwhile, Fosun’s operating cash flow remained healthy and stable. The signed asset divestment amounted to approximately RMB17.5 billion equivalent at the group level, and approximately RMB30.0 billion equivalent at the consolidated level. As at the end of the Reporting Period, the Group’s total debt to total capital ratio was 52.0%, cash and bank balance and term deposits amounted to RMB106.34 billion.

Industrial Securities believes that by deeply cultivating the four major business segments of Health, Happiness, Wealth, and Intelligent Manufacturing, Fosun has accelerated its exit from non-core assets in recent years and optimized its capital structure to better focus on its core businesses. In 2024, it achieved orderly advancements and exits to enhance its asset portfolio, while continuously optimizing its debt structure, resulting in a downward trend in interest-bearing liabilities. At the same time, Fosun’s globalization capabilities were strengthened, and the development of overseas business became a highlight. In 2024, Fosun’s overseas revenue accounted for 49.3% of total revenue, with the overseas operations of core subsidiaries showing even stronger growth. For example, in 2024, Fosun Pharma’s revenue from regions and countries outside of the Chinese mainland reached RMB11.3 billion, representing a year-on-year increase of 8.9%; Fosun Insurance Portugal’s total gross written premiums from markets outside Portugal reached EUR1.84 billion, representing a year-on-year increase of 7.8%. As a result, Industrial Securities maintained an “overweight” rating on Fosun International.

Kaiyuan Securities also believes that Fosun’s overall revenue remains stable while the company continues to steadily exit non-core assets. At the same time, Fosun has placed a strong emphasis on ecosystem synergy to amplify the flywheel effect. It successfully implemented the “health care + insurance” ecosystem policy model, and Fosun Care achieved profitability for the first time. It also made significant progress in asset-light operations. For example, in 2024, Fosun Pharma together with the Shenzhen Guidance Fund and other investors established a RMB5.0 billion biopharmaceutical industry fund to jointly promote the high-quality development of the pharmaceutical and healthcare industry in the Greater Bay Area. Kaiyuan Securities is optimistic about Fosun’s focus on resource allocation in high-potential segments and its ongoing efforts to deepen global operations, thus maintaining a “buy” rating.

Fosun’s management stated at the results presentation that in the next few years, the Group aims to gradually increase the proportion of overseas revenue in its global operations; continue to divest from some asset-heavy projects to reduce financial leverage and maintain “strategic advancements and exits, and balanced investment and divestment”; progressively reduce the Group’s interest-bearing debts from the current level of more than RMB80 billion to RMB60 billion; strive to achieve RMB10 billion in industrial operation profit as well as in profit attributable to owners of the parent; and consistently enhance its operational capabilities, endeavoring to attain “investment grade” ratings.

Securities firms pointed out that Fosun’s success in its business streamlining strategy and “strategic advancements and exits” have been clearly reflected in its financial results. Moving forward, as the potential for growth in its core businesses is further unlocked and operational capabilities continue to improve, Fosun’s valuation and performance in the secondary market are expected to gradually return to a reasonable level. Data shows that as of 31 December 2024, Fosun International’s adjusted NAV was HK$17.6 per share, indicating a significant undervaluation compared to its current share price.

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SOURCE Fosun

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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10 minutes ago

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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Fathom Applauds Introduction of the FRONTIER Act, the First Federal Blueprint for Independent AI Verification

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July 23, 2026

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Reps. Lori Trahan (D-MA-03) and Jay Obernolte (R-CA-23) introduce a bill to build a competitive marketplace of independent verifiers for frontier AI models.

WASHINGTON, July 23, 2026 /PRNewswire/ — Fathom welcomes the introduction of the FRONTIER Act, the most complete federal framework yet for independent, third-party verification of frontier AI. The legislation is built to earn public trust as AI technology continues to accelerate. As frontier systems begin to take autonomous action in the world, the gap between what these models can do and our ability to keep them in check is widening. FRONTIER is the starting point to close that gap.

“AI governance keeps running into the same wall. The technology is hard to measure and it moves faster than any law can keep up with,” said Andrew Freedman, Co-Founder and CEO of Fathom. “Trying to write the perfect rules and freezing them in place won’t work. What will work is a competitive market of independent verifiers who are accountable for real-world outcomes and who the government can actually count on. The FRONTIER Act shows we can move fast and still get this right.”

The bill gets the fundamentals correct. It sets one public standard – the adequate mitigation of catastrophic risk – and holds both the AI companies and their independent verifiers accountable to it. FRONTIER does not freeze a single testing method into statute. Instead, it licenses competing verification organizations, allows them to sharpen their methods, and gives the government the power to revoke a license when a verifier’s work does not hold up in the field. That is how you build a system that keeps pace with the science instead of falling behind it.

Fathom thanks Reps. Trahan and Obernolte for their leadership, and for their courage in releasing a discussion draft, inviting scrutiny, and incorporating substantive improvements from across the field. One priority improvement as the bill advances: giving the government a fuller range of tools to act upstream – for pushing companies to close identified gaps in risk mitigation early, rather than only once a catastrophe is imminent. We are committed to working with these sponsors, committees of jurisdiction, and Congressional leadership to continue refining the bill in the weeks and months ahead.

About Fathom
Fathom is an independent nonprofit whose mission is to build a governance architecture that helps society navigate the transition to a world with AI by fostering trust, safety, and innovation. Fathom has developed and championed the independent verification model for AI and works with policymakers across the country to put it into practice. Learn more at http://fathom.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fathom-applauds-introduction-of-the-frontier-act-the-first-federal-blueprint-for-independent-ai-verification-302833546.html

SOURCE Fathom AI Inc.

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