On August 31, LONGFOR GROUP fell 8.39% in regular trading, trading at HK$6.225/share, with turnover of HK$377 million. The stock had opened sharply higher alongside the broader property sector but reversed course during the session.

On the news front, the People's Bank of China and the National Financial Regulatory Administration jointly issued guidelines on reforming real estate credit management to accelerate a new development model. The policy package also included directives to promote cash-ready home sales and extend maximum mortgage terms from 30 to 40 years. While the announcements initially triggered a broad rally in property stocks — with Sunac and Country Garden surging over 14% at the open — the sector quickly gave back gains, with multiple names including China Jinmao, Greentown China, and Yuexiu Property reversing to losses exceeding 10%.

LONGFOR GROUP had reported interim results on August 28, showing first-half revenue of RMB 39.8 billion, down from RMB 58.8 billion a year earlier, and profit attributable to owners declining to RMB 1.96 billion from RMB 3.22 billion. The company noted its operational and service business revenue grew 3.2% to RMB 13.7 billion, now representing 34.4% of total revenue, as the group continues its strategic pivot away from pure development.

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