March 13, 2025 00:33 GMT
Longfor (LNGFOR: Ba3Neg/BB-Neg/BBNeg) clarifies profit warning
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Longfor (LNGFOR: Ba3Neg/BB-Neg/BBNeg)
"*LONGFOR SEES FY NET INCOME TO DECLINE ABOUT 20%" - BBG
- Longfor announced a profit warning on the 7th March, in which it expects core net profit to be down 35%-40% compared to Dec. '23 (RMB11.35bn).
- Core profit excludes minority interests and valuation changes.
- This morning we have some additional clarification from Longfor. In 2024, overall net income attributable to shareholders will be 20% lower YoY (2023: RMB12.85bn). Overall neutral for spreads.

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