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Longfor Properties' board proposes to adopt new company name

Longfor Properties Co. Ltd.'s board proposed to change the company's name to Longfor Group Holdings Ltd. to reflect the company's plan to expand into other areas of real estate.

Currently, the Hong Kong-listed developer's businesses are focused on four main areas: property development, commercial properties, long-term rental apartments and property management. It disclosed plans to enter the businesses of restructuring urban spaces and services, one of the reasons it provided for the proposed name change.

The proposal is subject to approval of its shareholders and the registrar of companies in the Cayman Islands.