LONGFOR GROUP(00960) 中金在线·2024-03-22 05:36Core Viewpoint - Longfor Group Holdings Limited reported its annual performance for the year ending December 31, 2023, highlighting a resilient approach amid macroeconomic shifts towards high-quality development in the real estate market [1] Financial Performance - The company achieved a total revenue of 180.74 billion yuan and a net profit attributable to shareholders of 12.85 billion yuan, with core net profit after excluding fair value changes reaching 11.35 billion yuan [1] - Gross profit amounted to 30.58 billion yuan, resulting in a gross margin of 16.9%, while the core net profit margin stood at 8.7% and the core profit attributable to equity holders was 6.3% [1] Development Business - The development segment generated revenue of 155.86 billion yuan, with a total delivered property area of 10.708 million square meters and a settlement gross margin of 11.0% [1] - The company recorded contract sales in real estate development of 173.49 billion yuan, achieving a sales collection rate exceeding 100% [1] Regional Sales Performance - Sales distribution by region showed that the Yangtze River Delta, Bohai Rim, Western China, South China, and Central China accounted for 28.9%, 21.8%, 28.4%, 11.8%, and 9.1% of total sales, respectively, with first and second-tier cities making up 95% of sales [1] Delivery and Customer Satisfaction - Longfor Group delivered a total of 140,000 housing units in 2023, with 20% delivered more than a month ahead of schedule, achieving a customer satisfaction rate exceeding 90% [1] Investment Strategy - The company focused on investment in core regions, acquiring 31 new land parcels in major cities such as Shenzhen, Shanghai, Guangzhou, Chengdu, Hangzhou, and Suzhou, with a total new land reserve area of 3.68 million square meters and an equity area of 2.66 million square meters [1] - As of December 31, 2023, the total land reserve reached 45.39 million square meters, with an equity area of 32.36 million square meters, concentrating 77% of its value in high-energy cities and valuable areas at reasonable costs [1]