Longfor on Track to Post Stable, Recurring Profits -- Market Talk

Dow Jones03-25

0736 GMT - Longfor is on track to transform its business model and be more supported by recurring profits rather than property sales amid China's lingering property downturn, Citi analyst Griffin Chan says after attending Longfor's earnings call. Longfor is gaining strength with its financial discipline as it recorded CNY3.5 billion cashflow after paying out dividends in 2023 despite a decline in sales, the analyst says, noting that Longfor expects its recurring profit to rise 20% in 2024, mainly supported by its rental businesses and property management segment. While maintaining a buy call on Longfor, Citi reckons that it deserves a higher valuation multiple and lifts its target to HK$12.30 from HK$12.10. Shares were last at HK$10.64.(sherry.qin@wsj.com)

(END) Dow Jones Newswires

March 25, 2024 03:36 ET (07:36 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2422230566?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-03-25 15:36","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2422230566","market":"sg","top_or_hot":-1,"title":"Longfor on Track to Post Stable, Recurring Profits -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0736 GMT - Longfor is on track to transform its business model and be more supported by recurring profits rather than property sales amid China's lingering property downturn, Citi analyst Griffin Chan says after attending Longfor's earnings call. Longfor is gaining strength with its financial discipline as it recorded CNY3.5 billion cashflow after paying out dividends in 2023 despite a decline in sales, the analyst says, noting that Longfor expects its recurring profit to rise 20% in 2024, mainly supported by its rental businesses and property management segment. While maintaining a buy call on Longfor, Citi reckons that it deserves a higher valuation multiple and lifts its target to HK$12.30 from HK$12.10. Shares were last at HK$10.64.(sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2024 03:36 ET (07:36 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Longfor on Track to Post Stable, Recurring Profits -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLongfor on Track to Post Stable, Recurring Profits -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-25 15:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0736 GMT - Longfor is on track to transform its business model and be more supported by recurring profits rather than property sales amid China's lingering property downturn, Citi analyst Griffin Chan...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"POST","symbol_name":"Post Holdings","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2422230566","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422230566","pubTimestamp":1711352160,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0736 GMT - Longfor is on track to transform its business model and be more supported by recurring profits rather than property sales amid China's lingering property downturn, Citi analyst Griffin Chan says after attending Longfor's earnings call. Longfor is gaining strength with its financial discipline as it recorded CNY3.5 billion cashflow after paying out dividends in 2023 despite a decline in sales, the analyst says, noting that Longfor expects its recurring profit to rise 20% in 2024, mainly supported by its rental businesses and property management segment. While maintaining a buy call on Longfor, Citi reckons that it deserves a higher valuation multiple and lifts its target to HK$12.30 from HK$12.10. Shares were last at HK$10.64.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"POST":"Post Holdings","BK1555":"内房股","BK4212":"包装食品与肉类","BK1240":"房地产开发","00960":"龙湖集团","BK1589":"北水核心资产","BK1521":"挪威政府全球养老基金持仓"},"translate_title":"渴望实现稳定的经常性利润——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"POST":1,"00960":0.9},"content_text":"0736 GMT - Longfor is on track to transform its business model and be more supported by recurring profits rather than property sales amid China's lingering property downturn, Citi analyst Griffin Chan says after attending Longfor's earnings call. Longfor is gaining strength with its financial discipline as it recorded CNY3.5 billion cashflow after paying out dividends in 2023 despite a decline in sales, the analyst says, noting that Longfor expects its recurring profit to rise 20% in 2024, mainly supported by its rental businesses and property management segment. While maintaining a buy call on Longfor, Citi reckons that it deserves a higher valuation multiple and lifts its target to HK$12.30 from HK$12.10. Shares were last at HK$10.64.(sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 25, 2024 03:36 ET (07:36 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2422230566"}