Listed inHong Kong Stock Exchange with Code
Longfor Properties, founded in Chongqing in 1993, has built a nation-wide presence in China. As a premier developer focusing on quality products and services, Longfor Properties is currently engaged in property development, investment and management.
Longfor Properties Co. Ltd. (stock code: 960) was listed on the Hong Kong Stock Exchange in 2009. The Group now has approximately 17,000 employees and presence in 26 cities in Yangtze River Delta, Western China, the Pan Bohai Rim, South China and Central China. It has completed and delivered over 160 projects with a total floor area of more than 54 million sq.m., and has a total land bank of approximately 39 million sq.m. The Group’s turnover amounted to over RMB88.14 billion yuan in 2016 and has built a leading position in the industry in terms of operating scale and overall strength.
Through its business philosophy of “For You Forever”, Longfor has won the respect and trust of its shareholders, customers, business partners and other industry players with its quality products and services. The Group has won various awards including the “Top 10 Chinese Property Developer with Overall Strength”, and was listed among Forbes’ Asia's Fab 50 in 2012 and 2013. Longfor has been awarded the Best Credit Rating among similar scale peers in 2015.
Longfor has gradually established integrated capabilities with high turnover rate since its first residential project, Chongqing Longfor Nanyuan in 1997. It has sold a total of 200,000 units of villas, townhouses, high-rise apartments, apartments, offices and shops, and developed “Chianti”, “Splendor” and “Rose & Gingko” and other classic brands. Premised on the notion of “Quality First, Lean Management”, Longfor is committed to building quality products for customers, and has received numerous honors at home and abroad. Longfor is a six-time winner of the Guangsha Award, the highest honor in the Chinese real estate development industry, and a 10-time winner of the Zhan Tianyou Award, the highest honor in Chinese civil engineering. Longfor’s premium villa project “Summer Palace Splendor” won the National Association of Home Builders’ Best International Building Design Award, and its “Chunsen Land” project won the American Institute of Architects’ Excellent City Design Award.
Being one of the first developers of shopping malls in China, Longfor has been operating commercial properties for over 16 years. It has developed three major brands, namely “Paradise Walk” for metropolitan shopping malls, “Starry Street” for community shopping malls, and “MOCO” for mid and high-end household and lifestyle shopping malls. To date, it has opened 21 shopping malls with a total area of more than 197 million sq.m, and working with over 3,700 merchant brands. It has adopted in its commercial operations a management style that promotes fineness and sophistication, which has been proven successful in the Group’s residential property development, and is committed to building quality recreation area in the community for residents to be at besides their homes and offices. Its first commercial project, Chongqing North Paradise Walk, is recognized as one of the “Eight New Landmarks of Chongqing”. Longfor’s business team has also won the honor of “Advancement in the Chinese Shopping Center Industry” numerous times. Looking ahead, Longfor will steadily expand its commercial property holdings, and make rental income its new business growth driver for the next 5 to 10 years.
Since 1997, Longfor Property Management has been granted China’s National Grade I Qualification for Property Management and Hong Kong Quality Assurance Agency‘s ISO9001 certification. It is engaged in community management, of public utilities maintenance, housekeeping, landscape greening materials maintenance, real estate agencies, etc. In 2015, it managed approximately 152 property projects in 25 cities with a total service area of 32 million sq.m. It adheres to the service concept of “Satisfaction + Surprise”, and is committed to providing superior service to customers. Homeowner satisfaction has stayed at over 90% over the years. It ranked first for three times in the “National Residential User Satisfaction Evaluation” of the China Association for Quality, and was awarded the “Top 10 Chinese Property Service Companies with Excellent Service Quality” and “Top 10 Brands in the Chinese Property Industry” by the Development Research Center of the State Council.
Longfor not only provides quality products and services to its customers, but also strives to fulfill its social responsibilities as a corporate citizen. It has continuously dedicated itself to charitable activities such as housing, poverty alleviation and disaster relief, environmental protection, civil education, employment promotion and community services. As part of the real estate industry, it has actively participated in the construction of indemnificatory housing. To date, the Group completed construction of about 15,000 units of indemnificatory housing with a total gross floor area of 1.5 million sq.m. In addition, the Group has developed prominent campaigns such as “Longfor Spring Festival Goods” and carried out poverty alleviation initiatives every year. It has found employment for over 30,000 jobseekers through cooperation with various levels of government to provide occupational training and commercial funds. Longfor Property Management School has providing free trainings to more than 7,000 individuals and equipped them with professional. To date, Longfor has invested over RMB300 million in charitable activities.
Supported by its core values of “Excellence, Humanism, Research, Trust/Win-Win and Entrepreneurship”, Longfor has developed a brand persona characterized as “Beyond the Ordinary, Tenacious and Down-to-Earth”, and set up an industry benchmarking modern company management system which highlights meritocracy. To cope with its rapid business growth, Longfor provides a comprehensive personal development plan and attracts talents with competitive remuneration and corporate culture to enrich the management team. It has developed a multi-level staff recruitment and development system, including its trainee system such as “Officials”, “Blooming”, “Appointment of Generals” and “Commercial Customer Service” programmes to recruit candidates. These systems supplied the industry with professional management talents with the spirit of entrepreneurship.
Longfor has adhered to the strategy of “Multiple Products, Regional Focus” and commenced its journey of national development since 2005 – from west to east, north to south, from major cities of the core economic circle to neighboring cities. It achieves sustainable development through balancing product types in different regions. Since 2011, the Group commenced on a strategic transformation focused on improving landbank quality, strengthening operations, strict cost controls, building up its investment property portfolio and refining its human resources, marking a new milestone for national development. Looking ahead, the Group’s vision is to become the most respected and trusted market leader of China’s real estate industry. It will continue to provide quality products and services for its customers which in turn influence their behaviors. Meanwhile, it creates opportunities to drive company success.