BRIEF: Longfor’s sales halve in four months through April
Property developer Longfor Group Holdings Ltd. (0960.HK) on Monday reported its property sales tumbled 53% year-over-year to 10.35 billion yuan ($1.52 billion) in the first four months of 2025. Its gross floor area sold during the period totaled 1.15 million square meters, down 28% year-on-year.
Longfor’s contracted sales for the month of April totaled 2.89 billion yuan, down 43.7% year-over-year. Its contracted sales attributable to the company’s shareholders totaled 1.93 billion yuan, also down 46.5% from a year earlier.
The company recorded 8.85 billion yuan in operational and service revenue in the first four months of this year, edging up 1% from 8.76 billion yuan in the corresponding period last year.
Shares of Longfor opened down 1% at HK$9.82 on Tuesday. The stock is down nearly 20% from its 52-week high.
By Lau Chi Hang
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