上半年营业额增超20%，龙湖商业90座购物中心整体出租率达96.6%

Core Viewpoint - The traditional logic of the real estate industry has been disrupted, leading leading real estate companies to explore new development models and create more balanced business portfolios. Longfor Group has taken the lead in this exploration, with operational income contributing 21% to the overall revenue in 2024, becoming a significant source of revenue and profit for the company [1]. Group 1: Financial Performance - In the first half of 2024, Longfor Group reported operational and service income of approximately 14.15 billion yuan (including tax), showing steady growth. The operational business, which includes commercial investment and asset management, achieved revenue of about 7.5 billion yuan [1]. - The commercial investment business, a hallmark of Longfor, has opened 90 shopping centers, maintaining a high occupancy rate of 96.6%. The revenue for the first half of the year saw over 20% year-on-year growth, with daily foot traffic increasing by over 9% [3]. Group 2: Market Trends and Consumer Behavior - The new era of consumers has led to further differentiation in consumption demand and richer consumption scenarios. Longfor is capitalizing on the "first launch economy" by introducing flagship and specialty stores to create a fresh brand mix [4]. - The demand for retail has surged due to societal focus on "promoting consumption and stabilizing the economy," leading to a comprehensive transformation in offline commercial spaces [3]. Group 3: Project Highlights - The Nanning Longfor project, which opened on May 30, has integrated local cultural elements into its design, achieving a 96% occupancy rate and generating 27.9 million yuan in revenue within the first three days [6]. - The Chongqing Beicheng Longfor project underwent a significant renovation, reopening on April 18 with over 100 leading brands, becoming a destination for outdoor sports and immersive dining experiences [8]. Group 4: Marketing and Consumer Engagement - Longfor has been innovating marketing activities such as the "Tianjie Temple Fair" and "Tianjie Happy Grab Festival," which have successfully attracted consumer attention and increased foot traffic during key holiday periods [10][12]. - During the 2025 Spring Festival, Longfor's commercial properties achieved a total revenue of 1.88 billion yuan, with daily foot traffic increasing by 16% year-on-year [12]. Group 5: Future Outlook - Longfor Group is set to open approximately 10 new projects in major cities like Hangzhou, Shanghai, and Wuhan in the second half of the year, while continuing to upgrade existing projects [8]. - The company is focusing on a high-quality development path through the synergy of development, operation, and service, positioning its commercial sector as a key driver for future growth [16].