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LONGFOR GROUP HOLDINGS LIMITED (LONGFOR, 00960)

28/04/2025 08:14 am MYT

This week, Capital updates on Longfor Group Holdings Limited (Longfor), following its 2024 full-year results. To recap, Longfor is one of China’s leading private property developers with a strong balance sheet and diversified revenue.

Financial results

The Company achieved a contracted sales of RMB 101 bln, having sold 7.12 mln sqm of GFA. 91% of the contracted sales were realised in Tier 1 and Tier 2 cities, reflecting the tiers’ resilient demand.

Revenue was RMB127.47 bln, -29.5% YoY, making for a second year of revenue contraction. The decrease was mainly due to the shrinkage of Longfor’s property development business (-35.3% YoY); the revenue from its investment property operation and property service combined, which accounted for over 20% of total revenue, increased by 7% YoY. Longfor’s investment property operation mainly comprises shopping malls and rental housing, which are self-developed or sublet by the Company to generate rental income and let it feed off any appreciation in property value over the long term. The property service division provides property management services to over 2,200 projects that cover a GFA of 410 mln sqm in total.

Gross profit margin fell from 16.9% to 16%, mainly due to the mar


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STOCK SELECTIONS

HKEX | 16 hours, 36 home.stockSelection.minutes ago

LONGFOR GROUP HOLDINGS LIMITED (LONGFOR, 00960)

KLSE | 3 days, 5 hours ago

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