ClubMed Lifestyle Group, a subsidiary of Fosun International Limited, has submitted an application for a proposed separate listing on the Main Board of the Hong Kong Stock Exchange. BNP Paribas, HSBC and J.P. Morgan are the joint sponsors. Operating Club Med as its core brand, the group runs premium all-inclusive resorts and develops Integrated Vacation Destinations and Cultural-Tourism Complexes through an asset-light model. Club Med operated 69 premium resorts worldwide in 2025 and was described in the listing materials as the world's largest all-inclusive resort brand by 2025 revenue, ranking first in EMEA and Asia-Pacific. Revenue rose from EUR1.86 billion in 2023 to EUR1.95 billion in 2025, while gross profit increased from EUR540 million to EUR590 million. Adjusted EBITDA reached EUR390 million, with a 20.2% margin. The group expects to operate approximately 85 resorts by 2030 and plans to use listing proceeds mainly to expand its resort network, upgrade vacation offerings, and strengthen digital and AI capabilities. Remaining proceeds would support capital-structure optimisation and day-to-day operations.