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LONGFOR GROUP (00960.HK) Expects Operating Biz Segment to Contribute 50%+ of Rev. by 2028
Since 2022, LONGFOR GROUP (00960.HK) has been transforming itself with an aim to set off gradual improvement in its revenue and profit structure by boosting revenue contribution fr...
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LONGFOR GROUP (00960.HK) Expects Operating Biz Segment to Contribute 50%+ of Rev. by 2028
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Since 2022, LONGFOR GROUP (00960.HK)  -0.220 (-2.743%)    Short selling $29.71M; Ratio 52.172%   has been transforming itself with an aim to set off gradual improvement in its revenue and profit structure by boosting revenue contribution from its operations and property services segments, as the real estate industry in China no longer relies on scaling up debt and asset to drive sales growth, Zhao Yi, CFO of LONGFOR GROUP, said. Revenue from investment property operation and services for the period ended 30 June 2024 amounted to RMB13.1 billion.

In 1H24, LONGFOR GROUP's operating businesses such as investment property operation and services contributed around 28% of the total revenue, with the gross profit reaching over 70%, accounting for over 80% of the net profit, Chen Xuping, chairperson and CEO of LONGFOR GROUP, said. The group's internal projections estimated that by the end of 2028, operating businesses such as investment property operation and services would contribute more than half of the revenue.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-09-16 12:25.)

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