Summary by Futu AI
Longfor Group announced its unaudited interim performance as of June 30, 2024. The contract sales amounted to RMB 51.12 billion, and the revenue was RMB 46.86 billion. Among them, the revenue from operations and services reached RMB 13.1 billion, with a year-on-year growth of 7.6%. Shareholders' attributable net profit was RMB 5.87 billion, and core net profit was RMB 4.75 billion. The operations and services business contributed more than 80%. The net debt ratio was 56.7%, with cash on hand of RMB 50.06 billion. The comprehensive loan amount was RMB 187.42 billion, with an average financing cost of 4.16% and an average contract loan term of 9.19 years. The basic earnings per share were RMB 0.90, and the board of directors announced a interim dividend of RMB 0.22 per share.