Longfor Group (00960.HK) has maintained growth in its mid-term operational and service businesses, continuously contributing stable profits to the group.

Zhtng Cijng APP News, Longfor Group (00960.HK) announced that as of June 30, 2024, the company's attributable net profit was RMB 5.87 billion for the six months, and it is expected to decrease by around 45% for the six months ending June 30, 2025. Excluding the fair value changes of investment properties and other derivative financial instruments, the company's core attributable net profit was RMB 4.75 billion for the six months ending June 30, 2024, and it is expected to decrease by around 70% for the six months ending June 30, 2025, mainly due to the impact of the downward trend in the real estate industry and the decrease in the settlement gross profit margin of the company's real estate development business.