$LONGFOR GROUP (00960.HK)$ On September 11, Longhu Group (00...

$LONGFOR GROUP (00960.HK)$ On September 11, Longhu Group (00960.HK) released unaudited operating data. In August alone, the company achieved a total contract sales amount of RMB 13.0 billion and a contract sales area of 682,000 square meters. Among them, the contract sales amount vested in the Company's shareholders' rights was 8.52 billion yuan, and the contracted sales area vested in the Company's shareholders' rights was 476,000 square meters.

Among them, the western region achieved sales of 4.36 billion yuan, the Bohai Rim region 2.97 billion yuan, the Yangtze River Delta region 3.42 billion yuan, the Central China region 950 million yuan, and the South China region 1.3 billion yuan.

In the first eight months of this year, Longhu Group achieved a total contract sales amount of RMB 123.12 billion and a contract sales area of 7.276,000 square meters.

In terms of land reserves, two new land reserves were added in August, with a total construction area of 253,300 square meters, an equity construction area of 180,200 square meters, and a land equity price of 1,944 billion yuan.

The first is the Xi'an Gaoxin GX3-42-72-2 plot, which was sold on August 17. Longhu Group accounts for 65% of the equity, and the land equity price is 1,178 billion yuan. The plot is located west of Planning 2nd Road, Jinglong Street, east of Jing34 Road, north of Jingping 41 Road, and south of Wei36 Road, with a net land area of 70,900 square meters and a construction area of 172,200 square meters.

The other is Group 2 residential land in Sangensong Village, Xinglong Street, Tianfu New District, Chengdu that was sold on August 24. The land area is 33,194 square meters and the construction area is 82,900 square meters.

According to the announcement statistics published by Longhu Group, in the first 8 months, Longhu Group added a total of 23 parcels of land, with a total construction area of 2,4283 million square meters, an equity construction area of 1.7079 million square meters, and an equity land price of 19.575 billion yuan.

In the first eight months of this year, Longhu Group achieved cumulative operating revenue of about 16.47 billion yuan (about 17.55 billion yuan including tax); of these, operating revenue was about 8.37 billion yuan (about 8.96 billion yuan including tax), and service revenue of about 8.10 billion yuan (about 8.59 billion yuan including tax).

At the Longhu Group mid-term results communication meeting held on August 17, Chen Xuping, chairman of the board of directors of Longhu Group, said that since this year, the national new home sales market has slowly recovered amid fluctuations. Real estate development bids farewell to the model of high leverage and high growth, and supports continuous and accurate implementation of policies to help the industry enter a new stage of steady development. The development business is no longer scale-oriented, but instead insists on precise investment, improving quality in response to demand, and flexibly grasping the volume-price balance, construction schedule and pace of elimination in a continuously rotating market to provide the Group with stable cash payments.

Chen Xuping explained that based on past investment, Longhu has already prepared rich commercial projects in high-energy cities, and commercial waterways have begun to contribute positive cash flow. Long-term rental apartments continue to improve operational efficiency and maintain healthy profit growth.