On 4 February 2026, Fosun International Limited (00656) disclosed that its indirect wholly-owned subsidiary, Zhejiang Fosun Commercial Development Co., Ltd., entered into a capital increase agreement to inject RMB105 million into Zhejiang Shangmeng Technology Co., Ltd. This transaction will grant Fosun Commercial Development a 51.0879% equity interest in Shangmeng Technology, making it a subsidiary of Fosun International upon completion.

Shangmeng Technology controls Sum Payment Co., Limited, which holds payment-related licenses including the China Payment Business License and the Cross-border RMB License. Shangmeng Technology’s Hong Kong Money Service Operator (MSO) License further aligns with Sum Payment’s domestic and cross-border payment offerings. The deal aims to leverage synergies between Shangmeng Technology and Fosun International’s wider business ecosystem.

As disclosed, Shangmeng Technology reported net losses of approximately RMB17.88 million after tax in 2024 and net profits of RMB19.42 million in 2023, under Chinese Accounting Standards. Its consolidated net assets as of 31 December 2024 stood at around RMB21.77 million.

According to the announcement, Mr. Guo Guangchang is Fosun International’s executive director, chairman, and ultimate controlling shareholder, and also has indirect control over both Yadong Xingchen Venture Capital Co., Ltd. and Shangmeng Technology. Therefore, the transaction constitutes a connected transaction under Chapter 14A of the Listing Rules, but only requires reporting and announcement. Completion remains subject to conditions precedent, and there is no assurance all conditions will be fulfilled. Shareholders and investors are advised to exercise caution when dealing in Fosun International’s securities.