On July 2, Longfor Group rose 5.18% in regular trading, trading at HKD 6.13/share, with turnover of HKD 42.18 million.
The rally was primarily driven by continued share purchases from major shareholder Charm Talent International Limited. According to Hong Kong Stock Exchange filings, the shareholder purchased 2 million shares on June 25 at approximately HKD 6.12 per share, totaling about HKD 12.245 million. Following the transaction, the shareholder holds approximately 3.053 billion shares, representing a 43.02% stake. Sources close to the company indicated that cumulative purchases by the major shareholder in late June reached approximately 11 million shares, signaling strong confidence in long-term value.
On the fundamental side, Longfor's commercial operations remain robust. As of end-May, overall occupancy of opened shopping malls reached 97%, with year-to-date gross merchandise value (excluding parking) growing 18% and same-store sales rising 9% year-over-year. Additionally, Fitch recently affirmed the company's BB- rating with a stable outlook, noting annual debt maturities will decline to RMB 5-7 billion over the next three years, a significant reduction from approximately RMB 20 billion in each of the prior three years.
(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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