longfor group: sales of 65.1 billion yuan and operating income of 17.6 billion yuan in the first eight months
2024-09-11
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longhu visual china data map
on september 9, longfor group (00960.hk) released its unaudited operating data, showing total contract sales of rmb 6.51 billion in august, with equity contract sales of rmb 4.63 billion; contract sales area of 495,000 square meters, with equity contract sales area of 365,000 square meters.
in the first eight months of this year, longfor group achieved a total contract sales amount of 65.14 billion yuan, a year-on-year decrease of 47.09%; the contract sales area was 4.745 million square meters, a year-on-year decrease of 34.79%.
in the first eight months, longfor group achieved operating income of approximately rmb 17.6 billion (including approximately rmb 18.73 billion in taxes); of which operating income was approximately rmb 8.97 billion (including approximately rmb 9.58 billion in taxes), and service income was approximately rmb 8.63 billion (including approximately rmb 9.15 billion in taxes).
in terms of land reserves, longfor group has not released monthly data. in the first half of this year, the total construction area of newly acquired land reserves was 600,000 square meters, the equity area was 350,000 square meters, and the average equity acquisition cost was 14,946 yuan per square meter.
as of the end of june, longfor group had a total land reserve of 41.41 million square meters, with an equity area of 29.59 million square meters, and an average cost of rmb 4,729 per square meter, accounting for 33.8% of the current contract price. by region, the land reserves in the bohai rim, western china, yangtze river delta, central china and southern china accounted for 34.0%, 25.8%, 15.3%, 14.9% and 10.0% of the total land reserve area respectively.
in terms of the market, longfor group's chief financial officer zhao yi introduced that the market will continue to recover slowly amid fluctuations in the second half of the year. the group will flexibly adjust the pace of launching new projects based on market conditions, adhere to project classification management, focus on inventory clearance, and drive cash flow recovery and profit achievement.
zhang xuzhong, executive director of longfor group and president of real estate channel, said that the policy level continued to relax in the first half of this year. after the "517" new policy, the market sales increased significantly in june, but fell back in july. the overall performance of the second-hand housing market was slightly better than that of the new housing market. the scale decreased slightly year-on-year, but the price drop was relatively large. at present, the market is still in a stage of volume and price adjustment, and market confidence needs to be restored.
the paper reporter pang jingtao
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