Longfor (00960) has reduced its debt by 5.7 billion in the first half of the year, fully repaying all credit bonds maturing within the year.

On August 28, LONGFOR GROUP Holdings Limited (00960) announced its interim results for the six months ending June 30, 2026. LONGFOR GROUP has consistently maintained restraint, prudence, and high self-discipline, prioritizing financial safety. The group strictly adheres to the financial discipline of "no overdue debts, no extensions, and no defaults," continuously optimizing its financial structure. As of June 30, 2026, LONGFOR GROUP's total interest-bearing liabilities amounted to RMB 147.12 billion, a decrease of RMB 5.7 billion compared to the end of the previous year; cash on hand was RMB 24.88 billion, with a net debt ratio of 52.0%, and a cash-to-short-term-debt ratio of 1.57 times, while the asset-liability ratio after excluding advanced receipts stood at 53.8%. After safely and steadily overcoming the debt peak in 2025, LONGFOR GROUP faces limited group-level debt maturities in the coming years. Since the beginning of this year, LONGFOR GROUP has timely completed the principal and interest payments for several bonds, including "21 Longfor 02," "16 Longfor 04," "21 Longfor 04," and "21 Longfor 06." So far, all credit bonds maturing within 2026 have been repaid, and only RMB 800 million in domestic credit debt remains due in 2027. While steadily and orderly reducing liabilities, LONGFOR GROUP's debt structure is also constantly being optimized. As of June 30, 2026, LONGFOR GROUP's average financing cost has dropped to 3.36%, with operational cash flow including capital expenditures remaining positive for four consecutive years. As of June 30, 2026, 91% of LONGFOR GROUP's interest-bearing liabilities were bank financing, operational property loans and long-term rental loans accounted for 69%, short-term debt accounted for 10.8%, and foreign currency debt has decreased to 10%, indicating a healthy debt structure that further enhances the safety of the company's operational profile.