Edition:
Advertisement
avatar image
Longfor Group
TOPIC
 / company

Longfor Group

Longfor Group
Longfor Group
Longfor Group is a top 10 real estate developer in China by sales, providing property development, investment and management services. The company focuses on tier-1 and tier-2 cities in China and has developed more than 1,100 property projects since 1998. It also operates the “Paradise Walk” and “Starry Street” malls across China.
Chairman / President
Chen Xuping
CEO / Managing Director
Chen Xuping
CFO / Finance Director
Zhao Yi
Industry
Real Estate
Website
longfor.com
Headquarters address
9/F, Building A, No. 9 Anningzhuang East Road, Haidian District, Beijing, China
Stock Code
SEHK:0960
Year founded
1993
Recommended For You

China Personalities

Heart attack kills China ‘century baby’ born at midnight on January 1, 2000 at 25

China’s so-called century baby, who was born at midnight on January 1, 2000, has died from a heart attack at the age of 25. Photo: SCMP composite/Douyin/Sohu

Science

Comac C949: China unveils quiet supersonic jet with ultra-long range

videocam
Chinese aerospace giant Comac has revealed the first glimpse of its quiet supersonic airliner C949. Photo: Comac

Society

Hong Kong to allow permanent residents as young as 7 to use e-channel service

Passengers at the arrival hall of the Hong Kong-Zhuhai-Macau bridge checkpoint in Macau. Photo: Dickson Lee

Hong Kong Economy

Hong Kong group ‘will not sign Panama deal next week’, Beijing to launch probe

The sale of CK Hutchison’s two ports at each end of the Panama Canal were part of a US$23 billion deal that will leave the company pocketing US$19 billion in cash. Photo: Reuters

China Economy

Home-grown CJ-1000 engine to soon be tested on China’s C919 passenger jet

videocam
A China Eastern Airlines C919 at Hong Kong International Airport in January. Photo: Eugene Lee
Longfor Group’s contracted sales could decline a further 13 per cent this year, S&P Ratings said. Photo: Shutterstock
China property

Chinese developer Longfor’s bonds sink deeper into junk territory

Downgrade comes as developers continue to struggle with lacklustre buyer sentiment despite recent support measures.

China property

China’s embattled property developers see sales surge in October

China Evergrande Group

Evergrande shares to stay suspended as liquidators see no path to restructuring

videocam
China property

China’s property stimulus plan needs more time, money and policy support

The mainland has US$3.9 trillion worth of unsold properties, which makes Beijing’s funding plan account for less than 2 per cent of that excess inventory, a Barclays report said.

videocam
4
Industry watchers’ cautious view on Beijing’s stimulus plan reflects how solving China’s deteriorated housing market remains a daunting task. Photo: Xinhua
Banking & finance

Chinese builders Poly, Longfor, CIFI post mixed 2023 results amid buyer caution

Company leaders pledge to marshal resources carefully in 2024 as they strike a cautious tone about any potential recovery.

China property

Chinese developer Longfor’s 50% profit slump reflects state of housing market

Beijing-based developer’s net profit fell to 12.85 billion yuan (US$1.8 billion) in 2023, from 24.36 billion yuan in 2022. Revenue from property development declined 31.3 per cent year on year to 155.86 billion yuan.

videocam
Advertisement
Advertisement
Advertisement
China property

China property sales fall in February, markets expect purchase restriction easing

Property sales in mainland China posted another month of declines in February with demand remaining weak due to uncertainties in income expectations and volatility in the market

Aerial view of densely populated residential district in Beijing, China. Photo: Shutterstock
China property

Moody’s downgrades Longfor’s credit rating to below investment grade

The credit ratings agency downgraded Longfor from ‘Baa3’ to ‘Ba2’ as it expects the developer’s condition to deteriorate across the board. A ratings upgrade is unlikely.

China property

CIFI suspends bond payments, joins list of developers spooking investors

The company joins Country Garden and Longfor on a list of developers once considered healthy but exhibiting signs of distress this week, as the situation in China’s housing market deteriorates further.

China property

Longfor’s market cap loses around US$2.5 billion after co-founder resigns

Shares in Longfor Group Holdings fell as much as 44.2 per cent on Monday after Wu Yajun’s announcement, with onshore and offshore bonds also slumping.

A model of Longfor Group and KWG’s Upper River Bank residential development project in Hong Kong, pictured in September 2020. Photo: SCMP / Jonathan Wong
China property

China offers troubled property market a lift through bond guarantees

Longfor Group will sell an onshore bond of up to US$250 million next week, one of several private developers poised to issue similar notes guaranteed by a state-owned credit enhancement company.

videocam
11
The bond guarantees should give developers a leg-up to raise capital during a debt crisis that has hobbled the industry for the last year. Photo: Bloomberg
China property

Longfor weathers China’s property market crisis with strong 2021

The developer said its core profit last year was 22.44 billion yuan (US$3.52 billion), up by a fifth from 2020, as it avoided the debt crises engulfing several of its peers.

videocam
Weekend Property

Hong Kong posts another bumper weekend as home buyers rush in

More property buyers are rushing into the market to get ahead of rising prices and potentially higher mortgage rates as the local monetary authority is expected to raise interest rates in lockstep with the US Federal Reserve’s tapering policy.

China property

China residential property a ‘slow growth market’ now, developer says

Profits and sales have largely diminished, and only the government’s cooling measures seem to lie ahead for the 16 trillion yuan (US$2.3 trillion) housing market.

videocam
A construction site in Shanghai. Curbs introduced on the mainland cast a long shadow over major Chinese developers listed in Hong Kong. Photo: Reuters
China economy

How a US$16-a-month Chinese factory worker became a billionaire

Problems buying her first flat led the economics graduate to launch a property company that is now worth US$8.3 billion

Wu Yajun, who with her then-husband co-founded Longfor Properties, which became a property company worth US$8.3 billion. Photo: Longfor Properties
Wealth management

Four Chinese tycoons transfer US$17 billion of their wealth to trusts

Sunac’s founder Sun Hongbin, Longfor’s Chairwoman Wu Yajun, and the magnates of Dali Foods and Zhou Hei Ya all transferred their wealth to trusts

China property

Expect discounts on new homes in China, says Longfor boss

Shao Mingxiao said life is becoming tougher for builders after a slew of government measures to take the heat out of the market.

Advertisement
Advertisement
Advertisement
China economy

Four out of five most successful women globally are Chinese, report says

Yang Huiyan, 37, of property developer Country Garden is China’s richest woman at US$22 billion.

Yang Huiyan of Country Garden. Photo: Handout
China property

Longfor raises sales target with core profit up by a quarter

The Chinese developer saw net profit jump 38 per cent to 12.6 billion yuan in 2017, while total revenue grew 31 per cent to 72.08 billion yuan

China property

Co-living becomes fashionable with Beijing’s trendsetters

Longfor Properties sees funding costs below 5pc despite credit tightening

Shao Mingxiao, CEO of Longfor Properties, says cheap funding will allow the developer to expand its portfolio of commercial complexes. Photo: May Tse
China property

Ex-husband of Longfor chair Wu Yajun to sell HK$1.8bn of shares

Wu Yajun, pictured, founded Longfor Properties with Cai Kui in 1994. Photo: Ricky Chung
China property

More Chinese property developers eye Hong Kong sites

Longfor Properties cautiously upbeat after H1 profit rises

Longfor Properties said net attributable profit rose slightly to 3.85 billion yuan, in the first half of this year and was cautiously optimistic about prospects for the sector despite government attempts to rein in property prices.

Divorce costs developer Wu Yajun's crown as China's richest woman

Wu Yajun (left) and ex-husband Cai Kui. Photos: SCMP
Samsung Electronics

Briefs, September 27, 2012

Stocks

Surprise HK$3.09b cash call spurs investors to dump Longfor Properties

Longfor Properties banks on lower profit margins in 2013

Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement