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Longfor Group, founded in Chongqing in 1993, has developed its business nationwide. The four core business arms cover property development, commercial property, rental housing and smart service, and Longfor proactively establishes innovative areas such as elderly-care and urbanization projects.
Longfor Group Holdings Limited (stock code: 960) listed on the main board of the Hong Kong Stock Exchange in 2009. In the first half of 2020, the Group's revenue increased by 32.6% to RMB51.14 billion over the same period last year. As at June 30, 2020, the Group has a presence in 5 regions nationwide and more than 50 cities. The Group has been awarded “Fortune China 500” for eleven years, and awarded “Best 10 of Comprehensive Strength of China Real Estate Developers” for 9 consecutive years, and selected as one of the “Top 50 Listed Companies in the Asia-Pacific Region” by Forbes three times, and ranked in the list of “The World's 2,000 Largest Public Companies” by Forbes three times.
Since the development of its first residential project, Longfor Garden Nanyuan, in Chongqing in 1997, Longfor has accumulated more than 900 development projects（property development and property investment） with a total development area of over 100 million sqm. Longfor is a 7-time winner of the Guangsha Award, the highest honor in the China property market; a 13-time winner of the Zhan Tianyou Award, the highest honor in civil engineering in China. The Group’s contracted sales throughout 2019 amounted to RMB242.50 billion, steadily ranking top ten in the industry.
As one of the earliest shopping mall developers in China, Longfor has developed three major brands: “Paradise Walk”, “Starry Street”, and “MOCO”. In the first half of 2020, the commercial rental grew by 22% to RMB2.67 billion. As of today, the Group has 40 shopping malls nationwide, with a construction area of approximately 3.87 million sqm, whose occupancy rate is 94.7%. The Group works with over 4,500 partnership brands and merchants and more than 340 strategic cooperation brands.
Responding positively to the national housing policies of "attaching equal importance to leasing and purchase of house", Longfor developed renting house “Goyoo” to satisfy the living pattern of the new generation and consumption upgrade. By the end of June 2020, “Goyoo” had commenced operation in Tier-1 and Tier-2 cities including Beijing, Shanghai, Shenzhen, Hangzhou, Nanjing, Chongqing and Chengdu, with over 79,000 apartment units. The rental avenue of “Goyoo” increased by 63% over the same period last year to RMB 730 million. “Goyoo” ranked TOP 3 among centralized long-rental apartment brands.
Founded in 1997, Longfor Smart Service provides full life service chains such as housing rental and sale, housekeeping, tourism service, and selection of good things, so as to provide convenience for owners’ life and improve their quality. As at the end of June, Longfor Smart Service basically completed the layout of the first- and second-tier core cities and the third- and fourth-tier potential cities, and recorded the operating income of RMB2.49 billion, and the owner satisfaction was over 90% for 11 consecutive years. Longfor is highly regarded by customers for its high-quality service of “satisfaction + surprise”.
Since 2003, Longfor has commenced exploration in the field of TOD. By the end of June 2020, Longfor had implemented 65 TOD commercial projects, with a total business development area of more than 9 million sqm under the focus of TOD. Through the combination of various complex spaces and business integration in different urban locations, the ecology was formed to grasp more possibilities in the future.
In addition to providing customers with quality products and services, Longfor is dedicated to taking on social responsibility in its role as an outstanding corporate citizen. It has been committed to social welfare undertakings such as education and scientific research, cultural protection, housing assurance, industrial assistance, poverty alleviation and disaster relief, ecological environmental protection, employment promotion and other public welfare undertakings. In 2018, Longfor donated RMB 300 million to initiate the establishment of Longfor Guangcai Poverty Alleviation Fund for Education. In 2019, Longfor donated RMB 100 million to set up “Longfor-The Imperial Palace Culture Fund" to help the development of the cultural protection of the Imperial Palace. In 2020, a total of RMB 35 million in cash and medical supplies were donated to Wuhan New Pneumonia Prevention and Control Headquarters to support epidemic prevention and control in Wuhan and surrounding areas. According to the statistics, the Group has completed construction of more than 15,000 units of indemnificatory housing. In addition, the Group has developed prominent campaigns such as “Longfor Spring Festival Goods” and carried out poverty alleviation initiatives every year. As of today, the investment in Longfor Charity and Public Welfare has over RMB 900 million.
In August 2020, Longfor Group formally established the Environmental, Social and Governance (ESG) Committee, established an organization-wide ESG working group, systematically carried out ESG control work, and gradually embedded the international standards of sustainable development into the organization and the strategic structure, leaving Longfor’s public welfare donation more stable and stable.
In view of its outstanding performance in environmental protection, social responsibility and corporate governance, Longfor Group has recently been included as one of the 50 constituent stocks of the HSCEI ESG Index.
Supported by its core values of “Entrepreneurship, Integrity, Embracing Changes and Win-Win”, Longfor has developed a brand persona characterized as “Beyond the Ordinary, Tenacious and Down-to-Earth”. To cope with its rapid business growth, Longfor has developed a multi-level staff recruitment and development system, including its trainee system such as “Officials”, “Blooming”, “Commercial Customer Service”, “Appointment of Generals” and other programmes to recruit candidates. These systems supplied the industry with professional management talents with the spirit of entrepreneurship. Longfor consistently pays attention to talent construction and promotes the employer value proposition of "long for me". In Longfor, employees can walk with professional and efficient teams, work warmly in a simple and direct culture, and iterate with platforms that connect the future. Throughout the life cycle of the career, Longfor continues to provide better products and services for fellow travelers, never forgetting their original intention and working together.
In the future, Longfor will adhere to the strategy of “SaaS，Space as a Service” and deeply participate in the reconstruction of urban space and services from the perspective of customers. It will also be driven by technology to constantly upgrade space operations solutions. Meanwhile, Longfor will deeply participating in the reconstruction of urban space and services, and constantly upgrading the capacity of space creation and services, building Alive Space and Compelling Service and constantly practices the business philosophy of “For You Forever”, provide more diversified services and development space for consumers and partners, and become a customer-centered space construction service enterprise.