https://www.scmp.com/rss/251303/feed Longfor Group is a top 10 real estate developer in China by sales, providing property development, investment and management services. The company focuses on tier-1 and tier-2 cities in China and has developed more than 1,100 property projects since 1998. It also operates the “Paradise Walk” and “Starry Street” malls across China. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Yulu Ao Yulu Ao Hong Kong stocks rose on Monday as investors headed into the Lunar New Year holiday on an upbeat note, betting that the Year of the Horse will extend a rally that delivered the biggest lunar-year gain in eight years amid strong southbound inflows. The Hang Seng Index rose 0.5 per cent to 26,705.94 at the close of trading at noon, ending a two-day decline. The Hang Seng Tech Index added 0.1 per cent. The Hang Seng Index is up 32 per cent since the Year of the Snake began on January 29, 2025, the... https://www.scmp.com/business/china-business/article/3343666/hong-kong-stocks-slip-light-trading-investors-prepare-lunar-new-year-break?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343666/hong-kong-stocks-slip-light-trading-investors-prepare-lunar-new-year-break?utm_source=rss_feed Mon, 16 Feb 2026 01:51:02 +0000 Yulu Ao Yulu Ao Hong Kong stocks fell on Friday following Wall Street’s retreat as renewed concerns about the artificial intelligence sector and lacklustre US jobs data prompted investors to pull back from riskier assets after a brief Nvidia-led rally. The Hang Seng Index closed 2.4 per cent lower at 25,220.02, taking the loss for the week to 5.1 per cent, the worst since April 11, when US President Donald Trump’s tariff war rattled the market. The Hang Seng Tech Index fell 3.2 per cent. On the mainland, the... https://www.scmp.com/business/china-business/article/3333619/hang-seng-index-set-cap-worst-week-april-ai-bubble-fears?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3333619/hang-seng-index-set-cap-worst-week-april-ai-bubble-fears?utm_source=rss_feed Fri, 21 Nov 2025 02:20:54 +0000 Cheryl Arcibal Cheryl Arcibal China’s real estate investment trust (C-Reit) is poised to grow by 30 times to become a US$1 trillion industry in the next 20 years – a transition borne out of several factors, including declining home sales – which is expected to benefit select mainland developers, according to Morgan Stanley. Following 25 years of property growth, primarily focused on the residential segment, mainland developers are increasingly weaning off from building projects that would yield one-time profits, the US... https://www.scmp.com/business/china-business/article/3331828/chinas-reit-grow-us1-trillion-developers-shift-strategy-morgan-stanley?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331828/chinas-reit-grow-us1-trillion-developers-shift-strategy-morgan-stanley?utm_source=rss_feed Fri, 07 Nov 2025 00:30:09 +0000 Cao Li Cao Li Hong Kong stocks rallied on Monday, rebounding from Friday’s steepest loss since April as US-China trade tensions showed signs of easing and China reported economic growth that was largely in line with expectations. The Hang Seng Index jumped 2.4 per cent to close at 25,858.83. The Hang Seng Tech Index surged 3.1 per cent. On the mainland, the CSI 300 Index rose 0.5 per cent and the Shanghai Composite Index added 0.7 per cent. NetEase jumped 5.2 per cent to HK$235.40, insurance giant AIA Group... https://www.scmp.com/business/markets/article/3329608/hong-kong-stocks-surge-optimism-over-us-china-trade-talks?utm_source=rss_feed https://www.scmp.com/business/markets/article/3329608/hong-kong-stocks-surge-optimism-over-us-china-trade-talks?utm_source=rss_feed Mon, 20 Oct 2025 02:16:33 +0000 Aileen Chuang Aileen Chuang Hong Kong stocks erased their gains on Tuesday as traders pared back their optimism that ongoing trade talks between mainland China and the US would bear fruit. The Hang Seng Index fell 0.1 per cent to 24,162.87 at the close and the Hang Seng Tech Index dropped 0.8 per cent. On the mainland, the CSI 300 Index lost 0.5 per cent and the Shanghai Composite Index retreated 0.4 per cent. Some major tech stocks led losses: electric-vehicle (EV) maker Li Auto retreated 2.8 per cent to HK$116.70,... https://www.scmp.com/business/markets/article/3313781/hong-kong-stocks-rise-optimism-over-ongoing-us-china-trade-talks?utm_source=rss_feed https://www.scmp.com/business/markets/article/3313781/hong-kong-stocks-rise-optimism-over-ongoing-us-china-trade-talks?utm_source=rss_feed Tue, 10 Jun 2025 02:31:31 +0000 Cao Li Cao Li Hong Kong stocks rose for the seventh straight day on Friday, the longest winning streak over a year, amid news that the US could significantly cut tariffs on Chinese exports during the trade talks in Geneva on the weekend. The Hang Seng Index gained 0.4 per cent to close at 22,867.74, taking its gains for the week to 1.6 per cent. The Hang Seng Tech Index declined 0.9 per cent. On the mainland, the CSI 300 Index fell 0.2 per cent, while the Shanghai Composite Index eased 0.3 per cent. Sun Hung... https://www.scmp.com/business/markets/article/3309649/hong-kong-stocks-extend-longest-winning-streak-over-year-hopes-tariff-cuts?utm_source=rss_feed https://www.scmp.com/business/markets/article/3309649/hong-kong-stocks-extend-longest-winning-streak-over-year-hopes-tariff-cuts?utm_source=rss_feed Fri, 09 May 2025 02:34:00 +0000 Yuke Xie Yuke Xie Beijing-based Longfor Group is the latest firm to see its bonds downgraded further into junk territory, as weakening sales plague China’s beleaguered property developers despite the central government’s recent support measures to revive confidence. S&P Global Ratings on Wednesday downgraded Longfor’s long-term issuer credit rating to BB from BB+ and its senior unsecured notes to BB- from BB, citing concerns that the company’s contracted sales could remain under pressure through next year due to... https://www.scmp.com/business/article/3301153/chinese-developer-longfors-bonds-sink-deeper-junk-territory-home-sales-sputter?utm_source=rss_feed https://www.scmp.com/business/article/3301153/chinese-developer-longfors-bonds-sink-deeper-junk-territory-home-sales-sputter?utm_source=rss_feed Wed, 05 Mar 2025 08:30:15 +0000 Yuke Xie Yuke Xie Improved property sales in October have given China’s cash-strapped developers more breathing room, as Beijing’s recent economic stimulus measures, which include mortgage rate cuts for homeowners, bolstered market confidence. China Vanke on Friday posted a 23 per cent month-on-month increase in contracted sales to 21.4 billion yuan (US$2.98 billion) in October. Beijing-based Longfor Group, one of the country’s top 10 developers by sales, posted a 37 per cent rise in contracted sales to 11.2... https://www.scmp.com/business/article/3285894/chinas-property-developers-vanke-longfor-see-october-sales-surge?utm_source=rss_feed https://www.scmp.com/business/article/3285894/chinas-property-developers-vanke-longfor-see-october-sales-surge?utm_source=rss_feed Sat, 09 Nov 2024 10:00:13 +0000 Yuke Xie Yuke Xie Trading of China Evergrande Group’s shares will remain suspended, as the collapsed developer’s liquidators see no path to a restructuring owing to the firm’s massive debt and various business challenges. “In the absence of substantial new investment into the company, the liquidators do not currently see a path to a restructuring that would enable the company to satisfy the resumption guidance and a resumption of trading in the shares,” the liquidators said in a filing on Friday to the Hong Kong... https://www.scmp.com/property/article/3274011/evergrande-shares-remain-suspended-liquidators-see-no-path-restructuring?utm_source=rss_feed https://www.scmp.com/property/article/3274011/evergrande-shares-remain-suspended-liquidators-see-no-path-restructuring?utm_source=rss_feed Sat, 10 Aug 2024 10:29:14 +0000 After Beijing introduced its most ambitious effort to date to revive the property sector and bolster the country’s economic recovery, analysts and economists find the plan’s scale too small and remain uncertain about its effectiveness. Market experts suggested that initiatives to solve the long-standing property crisis will need more meat on the bone, as policymakers approach this issue with a heightened sense of urgency. Still, Chinese property stocks received a boost from some positive... https://www.scmp.com/business/china-business/article/3263202/china-property-beijings-stimulus-plan-needs-more-time-money-and-policy-support-resolve-long-standing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3263202/china-property-beijings-stimulus-plan-needs-more-time-money-and-policy-support-resolve-long-standing?utm_source=rss_feed Sat, 18 May 2024 10:31:32 +0000 Mainland China’s largest property developers reported mixed 2023 results on Tuesday amid regulatory moves to rescue the country’s slumping housing market, with Poly Property Group, Longfor Group Holdings and CIFI Holdings Group posting a jump in profit, a halving of profit and a narrowing loss, respectively. Homebuyer confidence remains weak despite stronger policy support for the property market, according to the companies’ leaders, who pledged to marshal their resources carefully and struck... https://www.scmp.com/business/banking-finance/article/3260905/chinese-developers-poly-longfor-cifi-report-mixed-results-forlorn-property-market-awaits-buyer?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3260905/chinese-developers-poly-longfor-cifi-report-mixed-results-forlorn-property-market-awaits-buyer?utm_source=rss_feed Tue, 30 Apr 2024 08:00:15 +0000 Chinese property giant Longfor Group reported a near 50 per cent slump in net profit for last year, while revenue from home sales plunged because of the sluggish housing market. Net profit came in at 12.85 billion yuan (US$1.8 billion) in 2023, compared with 24.36 billion yuan a year earlier, the company said in a filing to the Hong Kong stock exchange on Friday. Overall revenue was 180.74 billion yuan, of which investment property operations and services accounted for 24.88 billion yuan, an... https://www.scmp.com/business/china-business/article/3256403/chinese-developer-longfors-50-profit-slump-reflects-poor-state-housing-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3256403/chinese-developer-longfors-50-profit-slump-reflects-poor-state-housing-market?utm_source=rss_feed Fri, 22 Mar 2024 10:57:58 +0000 Property sales in mainland China declined for the tenth straight month in February, as lower demand during the Spring Festival holidays weighed and expectations are the beleaguered sector’s woes will continue, pressured by low homebuyer confidence. China’s top 100 developers posted total contracted sales of 185.7 billion yuan (US$25.8 billion) in February, a decline of more than 60 per cent year on year, and a fall of close to 21 per cent month on month, according a report published on February... https://www.scmp.com/property/article/3253777/china-property-sales-fall-february-expectations-grow-purchase-restrictions-could-be-eased?utm_source=rss_feed https://www.scmp.com/property/article/3253777/china-property-sales-fall-february-expectations-grow-purchase-restrictions-could-be-eased?utm_source=rss_feed Fri, 01 Mar 2024 06:30:21 +0000 Moody’s has stripped mainland Chinese developer Longfor Group Holdings of its investment-grade credit ratings, citing a negative sales outlook because of sluggish home sales and funding conditions. The credit ratings agency downgraded Longfor, one of the top 10 mainland Chinese developers by sales, from “Baa3” to “Ba2”. “The rating downgrades are driven by our expectation that Longfor’s contracted sales, credit metrics, financial flexibility and liquidity buffer will decline over the next 12-18... https://www.scmp.com/business/china-business/article/3241771/china-property-moodys-downgrades-longfors-credit-rating-below-investment-grade?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3241771/china-property-moodys-downgrades-longfors-credit-rating-below-investment-grade?utm_source=rss_feed Thu, 16 Nov 2023 09:30:08 +0000 The situation in China’s housing market is deteriorating further, with three developers once regarded as healthy survivors – CIFI Holdings Group, Country Garden, and Longfor Group Holdings – raising increasing concern among investors. Shanghai-based CIFI said on Tuesday morning that it will suspend payment on all of its offshore bonds and has terminated all discussions with individual creditors and creditor groups offshore, according to a filing with the Hong Kong stock exchange. “In order to... https://www.scmp.com/business/article/3197992/chinese-developers-spook-investors-cifi-halts-bond-payments-after-longfor-country-garden-roil?utm_source=rss_feed https://www.scmp.com/business/article/3197992/chinese-developers-spook-investors-cifi-halts-bond-payments-after-longfor-country-garden-roil?utm_source=rss_feed Tue, 01 Nov 2022 08:22:56 +0000 Investors dumped Chinese developer Longfor Group Holdings’s shares and bonds on Monday after co-founder Wu Yajun resigned, triggering panic sales amid mounting investor concerns about home builders considered relatively healthy. The Hong Kong-listed company’s market capitalisation fell HK$19.6 billion (US$2.5 billion) on Monday to HK$62.81 billion, narrowing from a bigger loss earlier in the day. Its share price slumped as much as 44.2 per cent to HK$7.32 during the morning trading session,... https://www.scmp.com/business/banking-finance/article/3197841/longfor-group-loses-us25-billion-market-cap-hong-kong-stock-plunges-after-billionaire-chairperson?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3197841/longfor-group-loses-us25-billion-market-cap-hong-kong-stock-plunges-after-billionaire-chairperson?utm_source=rss_feed Mon, 31 Oct 2022 06:30:18 +0000 China’s government has instructed a state-owned credit enhancement company to provide guarantees to a number of private property developers issuing bonds, giving them a leg-up to raise capital during a debt crisis that has hobbled the industry for the last year. First up is Chongqing Longfor Corporate Expansion Limited, a unit of Longfor Group Holdings, which will issue yuan-denominated notes worth between 1 billion yuan (US$147 million) and 1.7 billion yuan on August 24, according to a term... https://www.scmp.com/business/banking-finance/article/3189124/chinas-stricken-property-market-gets-boost-government-set?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3189124/chinas-stricken-property-market-gets-boost-government-set?utm_source=rss_feed Tue, 16 Aug 2022 13:17:59 +0000 Chinese developer Longfor Group Holdings has posted a profit gain of 20 per cent for last year, managing to weather a crisis in China’s property industry triggered by defaults among some of its heavily indebted peers. Chongqing-based Longfor said its core profit reached 22.44 billion yuan (US$3.52 billion), up by a fifth from 2020. The annual increase was the same as in the previous year. “We did not buy much land last year and only got a couple of plots at reserve prices at the end of the... https://www.scmp.com/business/china-business/article/3171906/developer-longfor-group-posts-20-cent-profit-rise-2021?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3171906/developer-longfor-group-posts-20-cent-profit-rise-2021?utm_source=rss_feed Fri, 25 Mar 2022 11:31:03 +0000 Hong Kong’s buoyant home market continued to strengthen, as buyers bought 88 per cent of the 455 flats on offer at three projects in one of the biggest sales weekends this year, putting the city on track to post a record September in sales. Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by capitalisation, posted a fourth consecutive weekend of bumper sales at its Wetland Seasons Bay project in Tin Shui Wai, selling all 212 apartments on offer, with 4,062 bidders vying for every... https://www.scmp.com/business/article/3148423/hong-kongs-home-buyers-pile-posting-another-bumper-sales-weekend-en-route?utm_source=rss_feed https://www.scmp.com/business/article/3148423/hong-kongs-home-buyers-pile-posting-another-bumper-sales-weekend-en-route?utm_source=rss_feed Sat, 11 Sep 2021 12:32:57 +0000 It is tough being a residential property developer in mainland China at the moment. Profits and sales have largely diminished, and only the government’s cooling measures seem to lie ahead for the 16 trillion yuan (US$2.3 trillion) housing market. The sales of residential property were already down 2.1 per cent to 8.1 trillion yuan in the first seven months of this year, before financing for developers was further tightened last week. “It is very clear that strictly limiting the money flowing... https://www.scmp.com/business/china-business/article/3099440/china-residential-property-sector-slow-growth-market-now?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3099440/china-residential-property-sector-slow-growth-market-now?utm_source=rss_feed Sun, 30 Aug 2020 06:30:12 +0000 Wu Yajun once worked in a factory as a technician earning only US$16 a month. Now she's worth US$8.3 billion. The Chinese billionaire, who is now one of the world’s wealthiest self-made women, spent years working in a factory and as a journalist before she founded Longfor Properties, a property development company that reportedly brought in US$10.7 billion in revenue in 2017. Wu stepped down as Longfor's chairman in November and transferred her shares to her daughter, Forbes magazine... https://www.scmp.com/magazines/style/people-events/article/2188004/how-wu-yajun-us16-month-chinese-female-factory-worker?utm_source=rss_feed https://www.scmp.com/magazines/style/people-events/article/2188004/how-wu-yajun-us16-month-chinese-female-factory-worker?utm_source=rss_feed Thu, 28 Feb 2019 02:22:46 +0000 Four Chinese tycoons transferred more than US$17 billion of their wealth into family trusts late last year, underscoring how the rich are scrambling to protect their fortunes from the nation’s newly toughened tax regime. The latest example came from billionaire Sun Hongbin, chairman of real-estate developer Sunac China Holdings, who disclosed in a filing in Hong Kong on January 12 that he shifted most of his stake in the company to South Dakota Trust on December 31. Longfor Group Holdings... https://www.scmp.com/business/companies/article/2182278/four-chinese-tycoons-just-transferred-us17-billion-their-wealth?utm_source=rss_feed https://www.scmp.com/business/companies/article/2182278/four-chinese-tycoons-just-transferred-us17-billion-their-wealth?utm_source=rss_feed Wed, 16 Jan 2019 03:24:22 +0000 Home prices in China will continue to fall, as new projects in particular face slowing demand, according to the boss of one of the country’s biggest property developers. Shao Mingxiao, CEO of Longfor Group, said life is becoming tougher for builders after a slew of government measures in recent months to take the heat out of the market. “We see that the purchase cycle, from visiting a project to sealing the deal, has become longer as buyers are getting cold feet. Doing property business will be... https://www.scmp.com/business/article/2174542/chinese-developers-under-pressure-lower-prices-new-projects-says-longfor?utm_source=rss_feed https://www.scmp.com/business/article/2174542/chinese-developers-under-pressure-lower-prices-new-projects-says-longfor?utm_source=rss_feed Thu, 22 Nov 2018 10:43:27 +0000 China dominates the ranks of the world’s most successful women, claiming four out of the top five spots, while its share of “self-made” women has also risen to 77 per cent, according to the Hurun Richest Women in China 2018 report, which was released on Tuesday. Yang Huiyan, 37, of Country Garden, which is China’s largest developer by sales, is the most wealthy. She has benefited from a family inheritance and is worth 150 billion yuan (US$22.4 billion). American businesswoman Diane Hendricks,... https://www.scmp.com/news/china/money-wealth/article/2168844/hurun-report-four-out-top-five-most-successful-women?utm_source=rss_feed https://www.scmp.com/news/china/money-wealth/article/2168844/hurun-report-four-out-top-five-most-successful-women?utm_source=rss_feed Tue, 16 Oct 2018 23:03:52 +0000 Longfor Properties, China’s eighth largest developer by sales, set its 2018 sales target at 200 billion yuan after posting a 25.9 per cent increase in core net profit last year.  The Beijing-based developer saw core net profit, which excludes valuation gains and foreign exchange losses, jump to 9.77 billion yuan in 2017, on the back of a 77.1 per cent jump in contracted sales to 156.08 billion yuan from 88.14 billion yuan a year earlier.  “We currently have saleable properties worth about 300... https://www.scmp.com/business/companies/article/2138673/longfor-sets-200-billion-yuan-sales-target-core-profit-rises?utm_source=rss_feed https://www.scmp.com/business/companies/article/2138673/longfor-sets-200-billion-yuan-sales-target-core-profit-rises?utm_source=rss_feed Fri, 23 Mar 2018 11:07:37 +0000 Yuppies with the taste for communal living in Beijing are being spoiled for choice as an increasing number of private firms move into this latest strand of residential leasing, thanks to backing from the government. The latest in a long line of operators now getting involved in the trend is Longfor Properties, which is bringing its “Guanyu” long-term apartment leasing concept to the market. The project has devoted an entire floor to “public space”, which includes a cafeteria, kitchen, pantry,... https://www.scmp.com/property/hong-kong-china/article/2120887/young-and-fashionable-willing-pay-premium-co-living-space?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2120887/young-and-fashionable-willing-pay-premium-co-living-space?utm_source=rss_feed Wed, 22 Nov 2017 01:00:37 +0000 Longfor Properties, one of China’s largest residential and commercial developers, expects its financing costs to drop below 5 per cent by the end of the year, even as the central government looks to tighten lending to the property sector. The company’s average funding costs already stood at a record-low 5.18 per cent at the end of June, down from 5.74 per cent at the end of 2015. “Our average borrowing cost will fall to less than 5 per cent by the end of the year, thanks to the company’s stable... https://www.scmp.com/property/hong-kong-china/article/2038310/longfor-properties-sees-funding-costs-below-5pc-despite?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2038310/longfor-properties-sees-funding-costs-below-5pc-despite?utm_source=rss_feed Wed, 19 Oct 2016 12:30:53 +0000 The billionaire ex-husband of Longfor Properties chairwoman Wu Yajun is selling 150 million shares worth US$232 million (HK$1.8 billion) in the company through a share placement, according to a term sheet obtained by the South China Morning Post. Junson Capital, a family office owned by Cai Kui, offered to sell stock in Longfor, one of China’s biggest private developers, at HK$12 per share, a 7 per cent discount to Wednesday’s closing price of HK$12.9. The sale accounts for 2.6 per cent of the... https://www.scmp.com/business/article/2017238/ex-husband-longfor-chair-wu-yajun-sell-hk18bn-shares?utm_source=rss_feed https://www.scmp.com/business/article/2017238/ex-husband-longfor-chair-wu-yajun-sell-hk18bn-shares?utm_source=rss_feed Wed, 07 Sep 2016 12:40:23 +0000 More and more mainland Chinese developers are setting their sights on Hong Kong’s land market to diversify in the wake of the a property market slowdown at home, especially in smaller cities, as well as to take advantage of the falling land prices in the city. Tian Ming, chairman of Nanjing-based Landsea Green Properties, said Hong Kong would be its priority overseas investment destination this year. Chinese developers aggressively bidding for government land in Hong Kong In an interview with... https://www.scmp.com/property/article/1937194/more-chinese-property-developers-eye-hong-kong-sites?utm_source=rss_feed https://www.scmp.com/property/article/1937194/more-chinese-property-developers-eye-hong-kong-sites?utm_source=rss_feed Tue, 19 Apr 2016 12:27:29 +0000 Longfor Properties said net attributable profit rose slightly to 3.85 billion yuan, in the first half of this year and was cautiously optimistic about prospects for the sector despite government attempts to rein in property prices. In the year earlier period, the mainland based property developer and investor announced a 3.81 billion yuan profit. Excluding minority interests and revaluation gains, core profit was 2.74 billion yuan, the company said in a filing to the Hong Kong Stock... https://www.scmp.com/business/companies/article/1297724/longfor-properties-1h-profit-rises-cautiously-upbeat-about-2h?utm_source=rss_feed https://www.scmp.com/business/companies/article/1297724/longfor-properties-1h-profit-rises-cautiously-upbeat-about-2h?utm_source=rss_feed Mon, 19 Aug 2013 05:02:22 +0000 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. Her stake in Longfor fell from 75.6 per cent to 45.4 per cent as a result of the split, the company disclosed on Monday. Wu and her husband of 20 years, Cai Kui, who founded Longfor together, filed for divorce on August 6. Wu's net worth is now estimated at US$4.2 billion, down from the US$7.3 billion estimated earlier by the... https://www.scmp.com/business/china-business/article/1087050/divorce-costs-developer-wu-yajuns-crown-chinas-richest-woman?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1087050/divorce-costs-developer-wu-yajuns-crown-chinas-richest-woman?utm_source=rss_feed Tue, 20 Nov 2012 16:00:00 +0000 Real Gold Mining's debt restructuring okayed Real Gold Mining, suspended from Hong Kong trading since May last year following a report about accounting irregularities, said 84 per cent of its public shareholders approved an agreement to restructure debt owed to it by Wu Ruilin, who, with associates, controls 41.2 per cent of the gold producer. Bloomberg   HKEx official named chief of joint venture Hong Kong Exchanges and Clearing head of market data Bryan Chan was appointed chief executive of a... https://www.scmp.com/business/china-business/article/1048133/briefs-september-27-2012?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1048133/briefs-september-27-2012?utm_source=rss_feed Wed, 26 Sep 2012 16:00:00 +0000 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. Analysts said the latest placement, together with recent bond issues by other developers, reflected the improved liquidity condition offshore for mainland developers. However, slower-than-expected property sales this month could increase the risks for some developers not meeting this year's contracted sales targets, they said. Longfor... https://www.scmp.com/business/china-business/article/1041031/surprise-hk309b-cash-call-spurs-investors-dump-longfor?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1041031/surprise-hk309b-cash-call-spurs-investors-dump-longfor?utm_source=rss_feed Wed, 19 Sep 2012 16:00:00 +0000 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 overall housing market slows this year," Longfor chief financial officer Wei Huaning said. The group's overall gross margin was 46.1 per cent in the first six months of this year. The company believes profit in future will be helped by higher property sales and greater contribution from investment... https://www.scmp.com/business/china-business/article/1017448/longfor-properties-banks-lower-profit-margins-2013?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1017448/longfor-properties-banks-lower-profit-margins-2013?utm_source=rss_feed Fri, 17 Aug 2012 16:00:00 +0000 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. 'We have been buying land plots since the beginning of this year and continue to do so,' Longfor chief executive Shao Mingxiao said. 'We are buying not in a lavish but a cautious manner.' Addressing the media during a dinner he hosted in Chongqing last week, Shao said Longfor had spent 2.2 billion yuan (HK$2.7 billion) so far this... https://www.scmp.com/article/1004978/longfor-looks-south-land-more-opportunity?utm_source=rss_feed https://www.scmp.com/article/1004978/longfor-looks-south-land-more-opportunity?utm_source=rss_feed Sun, 24 Jun 2012 16:00:00 +0000 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 demand. And while major developers had so far weathered the policy measures quite well, the second half of the year could see their earnings under pressure, analysts said. 'It's unrealistic to expect the government to loosen curbs within the next six to 12 months since it has not achieved the policy... https://www.scmp.com/article/976248/curbs-likely-dent-results-first-half?utm_source=rss_feed https://www.scmp.com/article/976248/curbs-likely-dent-results-first-half?utm_source=rss_feed Sun, 14 Aug 2011 16:00:00 +0000