On June 12, Longfor Group rose 3.16% in regular trading, trading at HK$8.8/share, with turnover of HK$50.38 million. The stock extended gains from the prior session, continuing its upward momentum driven by multiple positive catalysts.
On the news front, Longfor Group recently repaid RMB 1.5 billion in company bond principal and interest, reducing its domestic credit bond balance to approximately RMB 1.8 billion, with only RMB 1 billion maturing in the current year. Management expects all domestic company bonds and medium-term notes to be fully cleared by early next year. Morgan Stanley issued a research note stating that Longfor's deleveraging process is back on track, with improving shopping mall rental performance and ongoing debt reduction deemed encouraging, while noting current valuations are reasonable.
Additionally, the company reported cumulative contract sales of RMB 13.67 billion for the first five months, with May single-month sales reaching RMB 3.32 billion, up 14.9% month-over-month. Operations and service business revenue remained stable at approximately RMB 11.14 billion, with operating income of RMB 6.03 billion and service income of RMB 5.11 billion.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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