LONGFOR GROUP: ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2024

LONGFOR GROUP achieved revenue of 127.47 billion yuan in 2024, with revenue from operations and service business at 26.71 billion yuan, representing a year-on-year growth of 7.4%. The company recorded a profit attributable to shareholders of 10.4 billion yuan and a core profit of 6.97 billion yuan. The Board of Directors recommended a final dividend of 0.10 yuan per share, totaling 0.32 yuan per share for the year.The group continuously optimizes its debt structure, reducing interest-bearing liabilities by 16.3 billion yuan to 176.32 billion yuan by the end of 2024, with an average financing cost down to 4.00% and an average contract loan term of 10.27 years. The net debt ratio stands at 51.7%, with cash on hand of 49.42 billion yuan. The annual operating cash flow, including capital expenditures, exceeded...Show More

LONGFOR GROUP achieved revenue of 127.47 billion yuan in 2024, with revenue from operations and service business at 26.71 billion yuan, representing a year-on-year growth of 7.4%. The company recorded a profit attributable to shareholders of 10.4 billion yuan and a core profit of 6.97 billion yuan. The Board of Directors recommended a final dividend of 0.10 yuan per share, totaling 0.32 yuan per share for the year.The group continuously optimizes its debt structure, reducing interest-bearing liabilities by 16.3 billion yuan to 176.32 billion yuan by the end of 2024, with an average financing cost down to 4.00% and an average contract loan term of 10.27 years. The net debt ratio stands at 51.7%, with cash on hand of 49.42 billion yuan. The annual operating cash flow, including capital expenditures, exceeded 6 billion yuan, while maintaining a stable shareholder dividend rate.In terms of business operations, the group added 11 new operating malls during the year, bringing the total to 89 operating malls, with an occupancy rate of 97% at the end of the period. The long-term rental apartment brand "Guan Yu" has opened 124,000 units, with an occupancy rate of 95.3%. In property management, Zhichuang Life achieved revenue of 11.42 billion yuan, managing an area of 0.41 billion square meters. The group will continue to deepen its focus on high-tier cities, concentrate on inventory reduction, and persistently promote product iteration and upgrading.