Listed inHong Kong Stock Exchange with Code
Longfor Group, founded in Chongqing in 1993, has developed its business nationwide. The four core business arms cover property development, commercial operation, long-term rental apartments and smart services, and Longfor proactively establishes innovative areas such as elderly-care and urbanization projects.
Longfor Group Holdings Limited (stock code: 960) listed on the main board of the Hong Kong Stock Exchange in 2009. In the first half of 2019, the Group's revenue increased by 42.2% to RMB38.57 billion over the same period last year. As at June 30 2019, the Group has a presence in seven city clusters and more than 40 cities. The Group has been awarded “Fortune China 500” for ten years, and awarded “Best 10 of Comprehensive Strength of China Real Estate Developers” for 8 consecutive years, and selected as one of the “Top 50 Listed Companies in the Asia-Pacific Region” by Forbes three times, and ranked in the list of “The World's 2,000 Largest Public Companies” by Forbes two times.
Since the development of its first residential project, Longfor Garden Nanyuan, in Chongqing in 1997, Longfor has accumulated more than 770 development projects with a total development area of nearly 94 million sqm. Longfor is a five-time winner of the Guangsha Award, the highest honor in the China property market; a 11-time winner of the Zhan Tianyou Award, the highest honor in civil engineering in China. From January to June 2019, contracted sales of the Group increased by 8.8% over the same period last year to RMB 105.62 billion, ranking among the top ten in the industry and has reached 48% of the annual sales target.
As one of the earliest shopping mall developers in China, Longfor has developed three major brands: “Paradise Walk”, “Starry Street”, and “MOCO”. In the first half of 2019, the rental income of shopping malls increased by 25.7% to RMB 2.11 billion. By the end of June 2019, 220 million people had visited Longfor’s shopping malls, representing an increase of 16% over the same period last year. Longfor ranked 7th among the top 100 property developers in China. As at June 30 2019, the Group has 29 shopping malls, with a construction area of approximately 2.96 million sqm, whose occupancy rate is 98.0%. The Group works with over 4000 merchants and more than 230 strategic cooperation brands.
Responding positively to the national housing policies which encourage both housing purchases and rentals, Longfor developed long-term rental apartments “Goyoo”, and adhered to the brand concept of “Free at my home” and “City Hub” to satisfy the living pattern of the new generation and consumption upgrade. By the end of June 2019, Goyoo Apartments had commenced operation in first- and second-tier cities including Beijing, Shanghai Shenzhen, Hangzhou, Nanjing, Chongqing and Chengdu, with over 60,000 apartment units. The rental income of Goyoo Apartments increased by 207% over the same period last year to RMB 0.43 billion. The annual number of new expansion and opening ranks among the top in the industry, ranking third among long-term rental apartment operators.
Founded in 1997, Longfor Smart Service covers multiple areas ranging from residential and commercial property, malls to city public spaces. Longfor Smart Service has currently entered more than 73 cities nationwide, serving 2.4 million homeowners. From January to June 2019, the rental income, net of tax, of the Group’s property investment business was RMB 2.58 billion, representing an increase of 39.2% over the same period last year. The Group (including joint ventures and associates) completed properties of approximately 4.40 million square meters in GFA from January to June in 2019. Longfor is highly regarded by customers for its high-quality service of “satisfaction” + “surprise”, ranking among the top 10 in China property service enterprise brand value, and it received the best property service operator of 2019.
Since 2003, Longfor has commenced exploration in the field of TOD. By the end of June 2019, Longfor had implemented over 20 TOD commercial projects, with a total business development area of more than 8 million sqm under the focus of TOD. Through the combination of various complex spaces and business integration in different urban locations, the ecology was formed to grasp more possibilities in the future.
In addition to providing customers with quality products and services, Longfor is dedicated to taking on social responsibility in its role as an outstanding corporate citizen. It has been committed to social welfare undertakings such as housing assurance, poverty alleviation, ecological protection, civic education, employment enhancement and building a harmonious community for a long time. To date, the Group has completed construction of more than 15,000 units of indemnificatory housing. In addition, the Group has developed prominent campaigns such as “Longfor Spring Festival Goods” and carried out poverty alleviation initiatives every year. As of today, the investment in Longfor Charity and Public Welfare has nearly RMB900 million.
Supported by its core values of “Entrepreneurship, Integrity, Embracing Changes and Win-Win”, , Longfor has developed a brand persona characterized as “Beyond the Ordinary, Tenacious and Down-to-Earth”. To cope with its rapid business growth, Longfor has developed a multi-level staff recruitment and development system, including its trainee system and “Officials”, “Blooming”, “Appointment of Generals” and “Commercial Customer Service” programmes to recruit candidates. These systems supplied¬ the industry with professional management talents with the spirit of entrepreneurship. Longfor consistently pays attention to talent construction and promotes the employer value proposition of "long for me". In Longfor, employees can walk with professional and efficient teams, work warmly in a simple and direct culture, and iterate with platforms that connect the future. Throughout the life cycle of the career, Longfor continues to provide better products and services for fellow travelers, never forgetting their original intention and working together.
In the future, Longfor will adhere to the strategy of “SaaS，Space as a Service” and deeply participate in the reconstruction of urban space and services from the perspective of customers. It will also be driven by technology to constantly upgrade space operations solutions. Meanwhile, Longfor will deeply participating in the reconstruction of urban space and services, and constantly upgrading the capacity of space creation and services, building Alive Space and Compelling Service and constantly practices the business philosophy of “For You Forever”, provide more diversified services and development space for consumers and partners, and become a customer-centered space construction service enterprise.