TOPIC

/ company

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

last updated:

30 September, 2024

Longfor Group

China’s embattled property developers see sales surge in October

A release of pent-up demand driven by rate cuts has given developers a much-needed sales boost.

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

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

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.

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.

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

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.

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.

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.

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.

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.

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 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.

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

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

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.

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.

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

Co-living becomes fashionable with Beijing’s trendsetters

Longfor Properties sees funding costs below 5pc despite credit tightening

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

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

Briefs, September 27, 2012

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

Longfor Properties banks on lower profit margins in 2013

Longfor looks to south for land of more opportunity