Wu Yajun, the multibillionaire chairwoman of Hong Kong-listed mainland developer Longfor Properties, has lost her title as the richest woman in China following her divorce.
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Shares of Longfor Properties yesterday fell 8.68 per cent following the mainland developer's unexpected HK$3.09 billion share placement announcement on Tuesday.
Mainland developer Longfor Properties is confident about its business outlook even though it expects a drop in gross profit margin next year.
"Gross margin will drop next year as the...
Hong Kong-listed mainland developer Longfor Properties is seeking to expand its footprint into southern China where it is acquiring land sites for new projects.
Mainland property developers are expected to unveil a mixed bag of first-half earnings this week - with the balance sheets of some developers affected by austerity measures aimed at curbing...