截至2020年6月底，冠寓已累计开业房间数量达7.9万间，开业超过六个月的房源出租率为88.6%，位居 集中式长租公寓行业品牌指数排行榜TOP3。 8月26日，龙湖集团控股有限公司(下称龙湖集团，港交所股份代号：960)公布其截至2020年6月30日的 业绩。 财报显示，虽受到疫情影响，但龙湖集团依然一如既往坚持稳步投资持有物业的战略，天街、冠寓等物 业投资业务扎实推进。2020年上半年实现物业投资业务不含税租金收入33.6亿元，同比增长30.4%。商 场、租赁住房、其他收入的占比分别为77.4%、21.8%和0.8%。 龙湖集团内部人士表示，短期的阵痛并不会影响公司对投资性物业板块的坚定看好，未来，还将在空间 营造与服务中不断打磨，寻求前进路径，为集团的持续发展挖深蓄能池的同时，力争打造人与空间更美 好的连接。(许洁) 其中，南京龙湾天街于6月如期开业，开业出租率达99%，开业3天总客流突破46万人次，总销售额达 3510万元。截至2020年6月底，龙湖商业已进入全国25座城市，累计开业商场达40座，已开业商场建筑 面积为387万平方米(含车位总建筑面积为504万平方米)，整体出租率94.7%。 与此同时， ...

Core Viewpoint - Longfor Group reported strong financial performance for 2024, with total revenue of RMB 127.47 billion and net profit of RMB 10.4 billion, highlighting the resilience of its operational and service segments amid a challenging real estate market [1][3] Financial Performance - Longfor's operational and service business generated revenue of RMB 26.71 billion, a year-on-year increase of 7.4%, contributing 21% to total revenue [1] - The company achieved a net debt ratio of 51.7% by the end of 2024, with cash on hand amounting to RMB 49.42 billion and a cash-to-short-term debt ratio of 1.63 [1] - The board proposed a final dividend of RMB 0.1 per share, with a total dividend payout of RMB 0.32 per share for the year, representing a payout ratio of approximately 30% [2] Sales and Market Position - Longfor maintained a stable sales figure exceeding RMB 100 billion, ranking among the top tier in the industry, with a total contract sales of RMB 101.12 billion for 2024 [3] - The company reported a sales return rate exceeding 100%, with significant sales in 19 cities across the country [3] Strategic Focus - Longfor aims to balance its revenue structure between development and operational services by 2028, prioritizing debt safety over new investments [3] - The company plans to launch over RMB 160 billion in saleable inventory, with more than 80% located in first- and second-tier cities [4] Operational Insights - Longfor's operational business, excluding tax rental income, reached RMB 13.52 billion, a 4.5% increase year-on-year, with a gross profit margin of 75% [7] - The commercial segment generated rental income of RMB 10.98 billion, with a 7% increase and a significant rise in both sales and foot traffic [9][11] Land Acquisition and Development - In 2024, Longfor acquired land reserves totaling 830,000 square meters, with an average acquisition cost of RMB 13,285 per square meter [5] - The company maintained a cautious investment approach despite a recovering land market, focusing on strategic locations and avoiding aggressive bidding [6] Debt Management - Longfor's financial discipline has led to a reduction in total borrowings to RMB 176.32 billion, down over RMB 30 billion from peak levels, with a significant shift towards operational property loans [22][23] - The average financing cost decreased to an annual rate of 4%, with a loan maturity of 10.27 years, indicating a stable debt structure [22]