龙湖集团2024年报

穩固基底韌性成長 BUILDING SOLID FOUNDATIONSFOR RESILIENT GROWTH 目錄Contents 集團架構Group Structure ASSETMANAGEMENT資產管理 PROPERTYMANAGEMENT物業管理 PROPERTYDEVELOPMENT地產開發 COMMERCIALINVESTMENT商業投資 SMARTCONSTRUCTION智慧營造 DiviDeDby Region 公司資料Corporate Information 115 www.longfor.com 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties 主要物業權益表Schedule of Principal Properties I am pleased to present to our shareholders the full-year business review andoutlook for the year ended December 31, 2024 of Longfor Group HoldingsLimited (the “Company”, together with its subsidiaries, collectively the“Group”). 20241,2752677.4%70 Since the fourth quarter of 2024, a series of economic stimulus policies havebeen introduced by the government, accelerating the pace of innovation-driven development and industrial upgrading. As a vital pillar of economicdevelopment, the real estate sector is currently undergoing significantadjustments and transformations. The Group has consistently maintainedstrategic focus, enhanced operational resilience, and steadily advanced high-quality development. In 2024, the Group achieved a total revenue of RMB127.5billion, with the investment property operation and property service segmentsgenerating income of RMB26.7 billion, representing a year-on-year increaseof 7.4%; the core net profit attributable to owners of the Company wasapproximately RMB7.0 billion while maintaining a stable dividend payout ratio. 20241631,7634.00%10.2760 Over the past two years, the Group has steadily reduced its total debt andoptimized its debt structure, strengthening its financial stability. By the endof 2024, the Group’s interest-bearing debt had decreased by RMB16.3 billionfrom the beginning of the year to RMB176.3 billion, with the average financecost reduced to 4.00% and the average contract borrowing period extended to10.27 years, achieving a virtuous cycle of reducing both debt and finance cost.With focused efforts and synergies across each business segment, the Groupachieved a positive operating cash flow including capital expenditures exceedingRMB6.0 billion for the year. This solid foundation of debt safety and cash flowsustainability is the key support as we navigate through industry cycles. 431090% The new housing market is returning to the essence of living, with a clearerdefinition of what constitutes high-quality housing. Over the past two years,the Group has been deeply committed to high-tier cities, developing improvedresidential products such as Glory of Galaxy, Glory of Throne, and Inner Land tomeet diverse living needs. Last year, we delivered approximately 100,000 qualityhousing units across 43 cities in China, achieving a satisfaction rate of 90%. Asthe market stabilizes after a period of decline, the Group will focus on reducingexisting inventory while simultaneously replenishing land in a timely and precisemanner, promoting the optimization and quality improvement of the land bankstructure. 主席報告Chairman’s Statement 1197% In 2024, the Group launched 11 new Paradise Walk projects in Nanjing,Hefei, Suzhou, Chongqing, and Changsha. Combined with existing projects,the commercial segment attained a 97% occupancy rate as of the end of 2024,resulting in steady growth in both operating profit and cash flow. Throughscenario innovation and consumer pain points’ resolution, the commercialinvestment team has created vibrant, high-quality consumer spaces in core cities,achieving same-store growth in both sales and footfall even amid challengingconditions. The Group’s strategic investment and iterative improvements incommercial operational abilities serve not only as a stabilizer against industryfluctuations but also as a powerful engine for driving asset appreciation. 31.8 Longfor Smart Asset Management, our asset management segment, hasestablished comprehensive asset management capabilities across the entirelifecycle and all formats through six business divisions: rental housing,industrial offices, serviced apartments, dynamic commercial, women’s andchildren’s hospitals and elderly care services. This contributed an income ofRMB3.18 billion for the year. By continuously enhancing our asset managementcapabilities, the Group is able to operate “good space” which helps preserveand enhance asset value while driving the Group’s operation business to deepenits presence in the existing market, forming a virtuous cycle of stable profitcontribution and cash return. 114.28%32541690% Longfor Intelligent Living achieved an revenue of RMB11.42 billion,representing an increase of 8% year-on-year. It continuously expanded it