Stock Track | Longfor Group Shares Plunge as October Sales Fall Short of Expectations

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Shares of Longfor Group Holdings Ltd. (HKG:0960) plummeted by 6.71% on Friday, November 11th, as the real estate developer's October sales figures failed to meet market expectations.

According to a filing with the Hong Kong stock exchange, Longfor Group recorded total contracted sales of 11.2 billion yuan (approximately $1.57 billion) from the sale of 736,000 square meters of gross floor area in October. The company's contracted sales attributable to shareholders amounted to 7.34 billion yuan, representing a contracted gross floor sales area of 496,000 square meters.

Despite the relatively high sales figures, investors appeared to be disappointed with Longfor Group's performance, leading to a sell-off in the company's shares. The stock closed nearly 5% lower in recent trading on Friday, underscoring the market's concerns over the real estate sector's outlook amidst ongoing economic challenges.

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(HKG:0960) plummeted by 6.71% on Friday, November 11th, as the real estate developer's October sales figures failed to meet market expectations.\nAccording to a ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00960","symbol_name":"龙湖集团","start_time":0,"source_url":"","article_id":"1114107089","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1114107089","pubTimestamp":1731312991,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Longfor Group Holdings Ltd.  plummeted by 6.71% on Friday, November 11th, as the real estate developer's October sales figures failed to meet market expectations.According to a filing with the Hong Kong stock exchange, Longfor Group recorded total contracted sales of 11.2 billion yuan  from the sale of 736,000 square meters of gross floor area in October. 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