Longfor Group Chairman responds to not distributing dividends: It is due to core equity losses resulting in profit decline, dividend policy remains unchanged.

Chen Xuping, chairman of Longfor Group, responded to the issue of the company not paying year-end dividends at the 2025 performance meeting held today, stating that the group's dividend policy has always been "implemented 30% of the profit after core equity". By mid-2025, the group had distributed 0.07 yuan per share according to this standard. However, due to adjustments in the real estate market, price and quantity pressure led to a decrease in settlement income from development business, and pressure on gross profit margin, resulting in a loss in core profit after equity for the full year, leading to no year-end dividends being calculated. "Our dividend policy has not changed. The current loss in core profit is a phased phenomenon in the destocking process. As profitability in future real estate development gradually improves, dividend-paying ability will return to normal," Chen Xuping said.