Fosun Announces Strategic Investment into Israel's BondIT

Fosun's Partnership will Bring AI to China's Fixed Income Market and Accelerate BondIT's Global Growth

SHANGHAI and Herzliya, Israel, Oct. 27, 2017 /PRNewswire/ -- Fosun Group ("Fosun" or the "Group") announced today a strategic investment of US$14.25 million into Israeli FinTech company, BondIT. This marks the Groups' first Fintech investment in the State of Israel. Upon completion of the transaction, Fosun is now a major shareholder of BondIT including representation on its Board of Directors.

Headquartered in Herzliya, Israel, BondIT provides an intelligent solution to fixed income traders and their portfolios. BondIT's leading technological capabilities and global market network empowers investment managers to create and optimise bond portfolios with sophisticated yet easy-to-use automation tools powered by proprietary machine learning algorithms.

BondIT's unique breakthrough lies in its ability to leverage data science and AI learning to overcome the complexity and inefficiencies often experienced in fixed income products. Its intelligence enables investors to quantitatively optimise the risks and returns of their fixed income portfolios. This makes BondIT's solution for fixed income strategies a highly attractive proposition, not just in China but across key global bond markets.

Guo Guangchang, Chairman of Fosun said, "Innovation is key to development, and crucial to the future of humanity. As such, we are embracing the opportunities arising from the latest technological breakthroughs in AI and Industrial 4.0. We believe BondIT compliments the Group's own financial ecosystem and as well as playing an important role in the upgrading of wealth management institutions with its disruptive technology. This investment also marks a continuation of our investment into the Israeli market, a market the Group remains optimistic on."

Etai Ravid, Founder and Chief Executive Officer of BondIT said, "The long-term vision of BondIT is to bring significant efficiency to the global bond markets through the application of artificial intelligence and data science, and help our customers gain a competitive advantage through increased productivity and better client centricity. We are excited to be included in the Fosun network of innovative companies and for the opportunity to increasingly use our unique technology to benefit investors. And with Fosun members sitting on the board as part of the deal, we believe they will bring their investment experience and China market expertise to the company."

Adrian Gostick, Chief Revenue Officer of BondIT said: "Fosun's investment and partnership will have a significant positive impact on our business, allowing us to accelerate our global expansion plans especially in the U.S., the world's largest fixed income market. And with China's market being the world's third largest, and still growing in size and sophistication, riding on Fosun's global financial network, BondIT is committed to becoming a leader in the market to greatly improve the efficiency of the financial sector."

About Fosun

Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656:HK) since 2007. Founded in 1992, Fosun's total assets exceed RMB500 billion (c.US$75 billion). With its roots in China, and through technology and innovation, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world.

About BondIT

BondIT, headquartered in Herzliya, Israel, enables advisors and investment professionals to significantly boost their productivity and trade flows by automating the construction, monitoring, and management of optimised fixed income portfolios. BondIT provides sophisticated, yet easy-to-use, tools backed by proprietary machine learning algorithms, helping customers scale their business, increase productivity, and comply with fiduciary responsibilities.

For more information, please contact:

Cynthia Chan
Tel: +852 25092825