Moody's completes regular review of LONGFOR GROUP, recognizing its good liquidity
Recently, the international rating agency Moody's announced that it has completed the regular review of LONGFOR GROUP's rating and recognized the appropriateness of its current rating. Moody's stated that LONGFOR GROUP's current rating reflects its strong brand influence, high-quality land reserves in high-energy cities, substantial investment properties, and property management business that provide a continuous growth of recurring income, strict financial management, and good liquidity. According to the latest performance data disclosed by LONGFOR GROUP, in 2024, LONGFOR achieved operating income of RMB 26.71 billion, a year-on-year increase of 7.4%, with the operating income covering dividends and interest rising to 2.39 times, achieving a significant improvement; as of the end of 2024, the total comprehensive borrowing amounted to RMB 176.32 billion, a year-on-year decrease of 8.5%, with an average financing cost of only 4.0%, and the average contract loan term further extended to 10.27 years; LONGFOR GROUP and all its channels achieved positive cash flow, with an annual operating cash flow including capital expenditures of RMB 6.4 billion
According to the Zhitong Finance APP, recently, the international rating agency Moody's announced that it has completed the regular review of the rating of LONGFOR GROUP (00960) and recognized the appropriateness of LONGFOR's current rating.
Moody's stated that LONGFOR GROUP's current rating reflects its strong brand influence, high-quality land reserves in high-energy cities, substantial investment properties, and property management business that contribute to a continuous growth of recurring income, strict financial management, and good liquidity.
According to the latest performance data disclosed by LONGFOR GROUP, in 2024, LONGFOR achieved operating income of RMB 26.71 billion, a year-on-year increase of 7.4%, with the operating income covering dividends and interest rising to 2.39 times, achieving a significant improvement; as of the end of 2024, the total consolidated borrowing amounted to RMB 176.32 billion, a year-on-year decrease of 8.5%, with an average financing cost of only 4.0%, and the average contract loan term further extended to 10.27 years; LONGFOR GROUP and all its channels achieved positive cash flow, with an operating cash flow of RMB 6.4 billion for the year, including capital expenditures
