Core Viewpoint - Longfor Group announced a total contract sales amount of RMB 55.75 billion and a contract sales area of 4.389 million square meters by the end of October 2025 [1] Group 1: Sales Performance - In October, the total contract sales amount reached RMB 5 billion, with a contract sales area of 446,000 square meters [1] - The contract sales amount attributable to the company's shareholders in October was RMB 3.54 billion, with a corresponding sales area of 326,000 square meters [1]

Core Insights - Longfor Group announced a total contract sales amount of RMB 55.75 billion by the end of October 2025, with a total sales area of 4.389 million square meters [1] - In October alone, the company achieved a total contract sales amount of RMB 5 billion and a sales area of 446,000 square meters [1] - The contract sales amount attributable to shareholders was RMB 3.54 billion, with a corresponding sales area of 326,000 square meters [1]

Core Insights - Longfor Group (00960.HK) reported a total contract sales amount of RMB 55.75 billion and a contract sales area of 4.389 million square meters by the end of October 2025 [1] - In October alone, the company achieved total contract sales of RMB 5 billion and a contract sales area of 446,000 square meters [1] - The contract sales amount attributable to shareholders in October was RMB 3.54 billion, with a corresponding area of 326,000 square meters [1] Financial Performance - By the end of October 2025, the company achieved operating revenue of approximately RMB 22.16 billion (tax-inclusive amount approximately RMB 23.62 billion) [1] - The operating revenue was approximately RMB 11.74 billion (tax-inclusive amount approximately RMB 12.57 billion) [1] - Service revenue amounted to approximately RMB 10.42 billion (tax-inclusive amount approximately RMB 11.05 billion) [1]

Core Viewpoint - Longfor Group (00960) reported a total contract sales amount of RMB 55.75 billion for the first ten months of 2025, indicating a strong performance in the real estate market [1] Group 1: Sales Performance - The total contract sales amount reached RMB 55.75 billion, with a contract sales area of 4.389 million square meters by the end of October 2025 [1] - In October alone, the company achieved a total contract sales amount of RMB 5.0 billion, with a contract sales area of 446,000 square meters [1] - The contract sales amount attributable to the company's shareholders in October was RMB 3.54 billion, with an area of 326,000 square meters [1]

（股份代號：960） 二零二五年十月未經審核營運數據 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 LONGFOR GROUP HOLDINGS LIMITED 龍湖集團控股有限公司 （於開曼群島註冊成立之有限責任公司） 龍湖集團控股有限公司 主 席 陳序平 龍 湖 集 團 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事 會（「董事會」）公 佈，截 止 二零二五年十月末，本集團累計實現總合同銷售金額人民幣557.5億元，合同銷售面積438.9萬平方 米，十月單月實現總合同銷售金額人民幣50.0億元，合同銷售面積44.6萬平方米；十月單月實現歸 屬本公司股東權益的合同銷售金額人民幣35.4億元，歸屬本公司股東權益的合同銷售面積32.6萬 平方米。 香港，二零二五年十一月七日 二零二五年十月單月總合同銷售金額分區域統計結果如下： 於本公告刊發日期，董事會包括九名成員：執行董事陳序平先生、趙軼先生、張旭忠先生及沈 ...

Group 1 - The core viewpoint of the article highlights the steady growth of China's consumption market and the reduced impact of online shopping on offline consumption, presenting new opportunities for the commercial real estate sector [1][2] - From January to September 2023, the total retail sales of consumer goods in China reached 36.6 trillion yuan, a year-on-year increase of 4.5%, indicating a stable expansion of the overall consumption market [2] - The contribution rate of final consumption expenditure to GDP growth in the first half of 2023 was 52%, an increase of 7.5 percentage points compared to the previous year, emphasizing the significant role of consumption in economic growth [2] Group 2 - The competition among existing centralized commercial properties is intensifying, with the number of new openings slowing down due to market saturation and reduced investment in commercial projects [4] - As of 2024, the number of new centralized commercial projects is expected to be 436, down from an average of 660 per year from 2015 to 2019 [4] - The total number of existing centralized commercial projects in China has surpassed 10,000, with a total commercial area of 708 million square meters [4] Group 3 - The operational performance of domestic brand commercial real estate companies has been strong, with retail sales growth outpacing the overall retail sales growth [5] - Major listed companies like China New Town Development and China Resources Land have reported significant increases in rental income and retail sales, with China Resources Land's rental income reaching 19.4 billion yuan and retail sales reaching 195.3 billion yuan in 2024 [5] - The successful operation of commercial real estate companies relies on their ability to position themselves effectively in different consumer markets, categorized into high-end, high-energy, and sinking markets [5] Group 4 - In the high-end market, the ability to attract customer traffic has become crucial for successful mall operations, with luxury sales showing signs of recovery [6] - The opening of the "Louis" maritime-themed landmark at Xinyi Taikoo Hui in Shanghai significantly boosted foot traffic and sales, with weekend visitor numbers increasing by over 100% [6] - High-end malls are diversifying their offerings by incorporating dining and experiential retail to reduce reliance on traditional retail sales [7] Group 5 - The high-energy market, including outlets and themed commercial spaces, has shown strong performance, particularly in core cities where consumer preferences are shifting towards practical and emotional value [8] - Outlets have outperformed overall retail sales growth, with visitor numbers and sales increasing significantly compared to national averages [8] - The two-dimensional market is rapidly growing, with the number of related brand openings increasing significantly, indicating a new growth point for offline commercial spaces [9] Group 6 - The sinking market is experiencing higher consumption growth rates, with three to four-tier cities showing better performance compared to first and second-tier cities [10] - New Town Holdings' Wu Yue Plaza has successfully attracted foot traffic and sales growth by leveraging its extensive brand partnerships, achieving a 19% increase in both metrics in 2024 [11]

Group 1 - The State Council of China announced the holiday schedule for 2026, with the Spring Festival holiday lasting 9 days from February 15 to February 23, leading to a significant increase in travel interest, with flight search volume tripling [1] - Flight bookings for the Spring Festival period saw a year-on-year increase of 235%, indicating a strong market demand for travel during this holiday season [1] Group 2 - Ctrip's "Free City Half-Day Tour" project has successfully received over 10,000 tourists from more than 100 countries since its launch in major cities like Shanghai and Beijing, reflecting the ongoing recovery and growth in inbound tourism [2] - In the third quarter of 2025, Marriott International reported a 0.5% year-on-year increase in global RevPAR, with international markets showing a growth of 2.6%, indicating a positive trend in the hospitality industry [2]

Core Insights - The third quarter of 2025 sees a peak in commercial openings, driven by the "National Day" holiday, with 89 new projects totaling approximately 6.93 million square meters [2][5] - The Eastern China region, particularly Jiangsu, Zhejiang, and Shanghai, dominates the commercial project openings, accounting for over 80% of the total [5][7] - High-tier cities maintain their market position, while lower-tier cities, especially county-level markets, show increased commercial activity [7][9] Summary by Sections Opening Statistics - A total of 89 commercial projects opened in Q3 2025, with a commercial area of about 6.93 million square meters. September alone accounted for 59 projects, representing 66% of the quarterly total [2] - Among the new openings, 15 projects were renovations of existing properties, contributing approximately 1.37 million square meters [2][14] Regional Distribution - The Eastern region leads with 32% of openings, with Jiangsu, Zhejiang, and Shanghai contributing significantly [5] - Central and Southern China follow, with Central China having 8 openings and Southern China 15 openings, primarily in Guangdong [5] Market Tier Analysis - High-tier cities account for over 70% of new projects, with first-tier cities at 27%, second-tier at 10%, and a notable activity in fourth-tier cities [7] - County-level commercial projects are becoming more active, with several notable openings in various regions [9] City-Specific Highlights - Hangzhou leads with 8 new projects, followed by Chongqing and Wuhan with 6 each. Notable projects include the Hangzhou Asian Games Village and several large-scale developments in Chongqing [11][12] - Beijing and Shanghai also saw significant openings, focusing on urban renewal and high-end commercial spaces [12][15] Major Developers and Projects - Leading commercial management companies like China Resources, Longfor, and Wanda opened multiple projects, with China Resources launching 6 projects, including several in lower-tier cities [13] - High-profile projects include Shenzhen Bay MixC Phase II and Guangzhou's K11 Select, both featuring innovative designs and a mix of retail and cultural spaces [18][19][20] Renovation Projects - The quarter saw 15 renovation projects, with a total area of approximately 1.37 million square meters, indicating a trend towards upgrading existing properties [14] - Examples include the transformation of previously stalled projects into successful commercial spaces, such as the Hohhot MixC [25]

Core Insights - The core viewpoint of the article emphasizes the importance of a forward-looking digital transformation strategy for Longfor Group to maintain stable development during the current industry adjustment period [2][3] Digital Transformation Strategy - Longfor initiated its digital transformation in 2014, establishing digitalization as the third major foundation of the company after corporate culture and financial systems [2] - The company has developed a clear five-layer digital architecture and adheres to a "business-led" principle [2] - In 2024, Longfor will further initiate AI transformation, with over 150 internal smart agents reshaping operational models [2] Implementation in Core Business - The digital management system covers the entire chain of Longfor's real estate development core business, focusing on nine key areas: investment, financing, construction, supply, sales, storage, support, return, and settlement [2] - Decision-making processes have shifted from traditional PPT reports to direct presentation of raw data, ensuring transparency [3] - In design management, Longfor has established a standard library with over 100,000 modules and utilizes VR technology for plan reviews, linking design with cost and data value [2] Engineering Management and Risk Control - Longfor employs a "coarse and fine" strategy in engineering management, using IoT devices for mandatory digital testing of key nodes like concrete strength, allowing for direct reporting of anomalies to management [3] - AI models are utilized in marketing to quickly identify risks in business orders, significantly enhancing risk control efficiency [3] - The supply chain management system has achieved full online integration, enabling cost visibility and intelligent identification of risks such as collusion and conflicts of interest [3] Overall Impact - Through systematic digital transformation, Longfor has not only enhanced its operational resilience but also explored an effective path for the industry to drive new productive forces through digitalization [3]

Group 1 - The article emphasizes the importance of brand communication for real estate companies during the festive seasons of National Day, Mid-Autumn Festival, and Chongyang Festival, highlighting the opportunity for brand engagement and social responsibility [2][6] - Leading real estate companies are focusing on community-centric activities, utilizing a blend of traditional and modern interactive designs to create emotional resonance, brand recognition, and value conversion [2][6] - The article notes significant leadership changes in key companies, such as Vanke's chairman transition and the criminal measures against its former president, as well as the board restructuring at Jin Ke Co., indicating ongoing turbulence in the industry [2][6] Group 2 - The top three companies in the brand communication power ranking are Poly Developments, China Resources Land, and Greentown China, followed closely by Vanke and Longfor Group [2][4] - The article highlights the role of festive seasons as a starting point for community building, with leading companies enhancing neighborly connections through service and warmth, contributing to a more meaningful ideal lifestyle [2][6] - The model of "emotional empowerment + value realization" is identified as a core driver for the continuous improvement of brand communication power [2][6]