On September 4, LONGFOR GROUP rose 5.31% in regular trading, trading at HK$6.26/share, with turnover of HK$44.42 million. The stock rebounded sharply after touching a 52-week low of HK$5.725 in the prior session, amid a broad-based rally in Hong Kong-listed property stocks.
On the news front, multiple brokerages recently reiterated Buy ratings on the company. Huatai Securities maintained a Buy rating with a target price of HK$10.50, while Shenwan Hongyuan also maintained its Buy rating, citing the company's diversified operations as a profit stabilizer. Changjiang Securities initiated coverage with a Buy rating, highlighting its commercial operations as a safety cushion. Meanwhile, the sector is benefiting from \"Golden September Silver October\" seasonal expectations, with Shanghai second-hand housing transactions exceeding 20,000 units for six consecutive months, signaling recovery momentum.
The company reported H1 revenue of RMB 39.8 billion, with operations and services revenue growing 3.2% year-over-year to RMB 13.7 billion, accounting for 34.4% of total revenue. Management projected that by 2028, operations and services revenue would reach RMB 34 billion, surpassing development business revenue and completing its structural transformation.
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