Longfor CFO Says Total Debt To Stay Near RMB 140 Billion At Year-End

Longfor Group executive director and chief financial officer Zhao Yi said at its interim results briefing this afternoon that the company’s total liabilities are currently above RMB 140 billion and are expected to remain at a similar level at year-end, according to Ming Pao. He said 90% of the debt is bank borrowing, and Longfor still has room to increase borrowing. Zhao added that the company’s current financing cost is about 3.36%, lower than a year earlier, and said there is still room to reduce funding costs after optimization.