Longfor Group executive director and chief financial officer Zhao Yi said at the interim results briefing that the company’s total liabilities are currently above RMB 140 billion and are expected to stay at a similar level at year-end, a report by Ming Pao noted.

He added that roughly 90% of the debt is bank borrowings, and the company still has room to increase borrowing if needed.

Zhao also indicated that the current financing cost is about 3.36%, lower than a year earlier, and there is potential to reduce funding costs further after ongoing optimization.