Longfor Group Holdings ( (LNGPF) ) has released its Q4 earnings. Here is a breakdown of the information Longfor Group Holdings presented to its investors.
Longfor Group Holdings Limited is a prominent real estate company based in China, specializing in property development, investment property operations, and property services. The company is known for its strategic focus on high-quality development and its presence in major Chinese cities.
Longfor Group Holdings reported a total revenue of RMB127.47 billion for the year ended December 31, 2024, with significant contributions from its investment property operation and property service segments. The company achieved contracted sales of RMB101.12 billion, reflecting a robust performance despite market challenges.
Key financial highlights include a core net profit attributable to owners of RMB6.97 billion and a gross profit margin of 16.0%. The company successfully reduced its total borrowing by 8.5% year-on-year to RMB176.32 billion, with an average finance cost of 4.0%. Longfor’s investment property operations, including shopping malls and rental housing, maintained high occupancy rates, contributing to steady growth in rental income.
Looking ahead, Longfor Group remains committed to enhancing its operational resilience and strategic focus on high-tier cities. The company aims to optimize its land bank structure and continue its investment in commercial projects to drive asset appreciation and maintain stable cash flows.