Core Viewpoint - The Hong Kong-based Zheng family, behind New World Development Group, is considering selling part of its 58 Rosewood Hotels assets, including the highly valued Rosewood Hong Kong, which recently won the title of the world's best hotel, valued at HKD 15.9 billion [1][3]. Group 1: Company Background and History - The Rosewood brand was acquired by New World Group for USD 229 million, with a strategic decision to move its global headquarters from Texas to Hong Kong, aiming to create a top luxury hotel brand for the Chinese market [3][4]. - The first Rosewood hotel in Asia opened in Beijing, with significant investment in the renovation of the original property, reducing room count from over 400 to just over 200 to enhance luxury and space [5][6][7]. Group 2: Current Challenges and Market Conditions - The Hong Kong hotel industry is undergoing a severe downturn, with New World Development facing significant financial distress, reporting its first loss in 20 years due to rising debt levels and a challenging economic environment [11][12][13]. - New World Development's net debt has surged to 98% of shareholder equity, leading to a record HKD 88.2 billion refinancing agreement and subsequent proposals for bondholders to accept substantial principal write-downs [13][14]. Group 3: Industry Trends and Competitive Landscape - The high-interest rate environment has shifted the financial logic for holding luxury hotels, making it less viable to operate them at a loss compared to investing in safer assets like U.S. Treasury bonds [21][22]. - The decline in high-spending mainland Chinese tourists and reduced corporate travel budgets have further strained the luxury hotel market in Hong Kong, with competitors in Shenzhen offering similar experiences at significantly lower prices [25][26]. Group 4: Future Outlook - The era of emotional investment in luxury hotel brands is fading, as financial performance becomes the primary focus for stakeholders in the industry [28][29].

Core Viewpoint - Swire Group (00019.HK/00087.HK) announced that it will hold a board meeting on March 12, 2026, to declare its annual results for the year ending December 31, 2025, and to consider the distribution of the second interim dividend for 2025, replacing the final dividend [1] Group 1 - The board meeting is scheduled for March 12, 2026, at 9:30 AM at the company's registered office [1] - The meeting will focus on announcing the full-year results for the fiscal year ending December 31, 2025 [1] - The company will also consider the distribution of the second interim dividend for 2025, which will replace the final dividend [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 香港，二零二五年十二月三日 - 1 - 董事局會議召開日期 茲通告太古股份有限公司（「公司」）將於二零二六年三月十二日（星期四） 上午九時三十分在公司註冊辦事處舉行董事局會議，藉以（其中包括）宣佈截 至二零二五年十二月三十一日止年度的全年業績及考慮派發二零二五年第二次 中期股息（以取代末期股息）。 根據《香港聯合交易所有限公司證券上市規則》附錄 C3 第 A.3 項的規定，公 司董事於二零二六年一月十一日至二零二六年三月十二日（包括首尾兩天）期 間不得買賣公司證券。 於本公告所載日期，公司的在任董事如下： | 常務董事 | ： | 白德利（主席）、岑明彥、賀以禮、馬天偉； | | --- | --- | --- | | 非常務董事 | ： | 麥廣能、施銘倫；及 | | 獨立非常務董事 | ： | 包逸秋、顏文玲、歐高敦、徐瑩及張懌。 | 承董事局命 SWIRE PACIFIC LIMITED 太古股份 ...

12月1日，太古地产发布消息称，太古地产向受香港大埔火灾影响的所有人士致以深切慰问。太古集团 (含旗下太古地产、太古可口可乐、国泰及其他运营公司)将捐赠逾1000万港元支援救灾工作。同时，正 紧急调配必要物资，全力协助受影响人士渡过难关。 同时，正紧急调配必要物资，全力协助受影响人士渡过难关。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年11月30日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | Swire Pacific Limited 太古股份有限公司 | | | | 呈交日期: | 2025年12月1日 | | | | I. 法定/註冊股本變動 不適用 | | | | | 備註： | | | | | Swire Pacific Limited 太古股份有限公司並無法定股本，及其股本並無股份面值。 | | | | | 2. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00087 | 說明 | B股 | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | 已發行股份總數 | | | 上月底結存 | | | 2,848,932,500 ...

Core Insights - Swire Coca-Cola's factories in Nanjing and Wuhan have achieved ISO14068-1:2023 certification, marking them as the first zero-carbon factories in the China region [1][3] - This milestone reflects Swire Coca-Cola's commitment to sustainable development and aligns with China's high-quality development and dual carbon strategy [1][2] Group 1: Zero-Carbon Certification - The two factories are recognized as zero-carbon facilities, showcasing Swire Coca-Cola's long-term efforts in promoting green and intelligent manufacturing [4] - The Jiangsu factory has implemented a revolutionary energy system upgrade, significantly reducing steam usage and expected to cut over 20,000 tons of greenhouse gas emissions, equivalent to the carbon absorption of 160,000 trees annually [2][4] - The Hubei factory has adopted a unique circular economy approach, converting agricultural waste into clean heating, replacing 700,000 cubic meters of fossil fuel annually, and reducing carbon emissions by 1,515 tons [2][4] Group 2: Sustainability Strategy - Swire Coca-Cola's sustainability efforts have led to a 13% increase in energy efficiency since 2018, with 11 factories powered entirely by renewable energy and 13 equipped with solar facilities, covering about 60% of daily electricity needs [4] - The company extends its carbon reduction initiatives throughout the supply chain, promoting the use of new energy vehicles in logistics and energy-efficient refrigerators in sales, fostering a comprehensive green ecosystem [4] - The 2030 Sustainability Strategy aims to reduce carbon emissions from core operations by 70% (compared to 2018 levels) and encompasses seven key areas, integrating strategic execution with business development [6] Group 3: Future Outlook - Swire Coca-Cola views sustainable development as an investment for the future, with plans for continuous technological innovation and system optimization to ensure the solid implementation of green transformation [8] - Upcoming projects include the foundation of a new factory in Hainan by the end of this year and the operation of new production bases in the Greater Bay Area and Suzhou next year, contributing to the green transformation of the beverage industry in China [8]

Core Insights - UBS reports that the office market in mainland China faces challenges due to ample supply, while there are clear signals indicating a recovery in the Hong Kong office market [1] - UBS believes that the Grade A office market in Central Hong Kong is nearing its bottom as supply is expected to decrease between 2026 and 2027, which will benefit stocks with Grade A office business in Hong Kong [1] Summary by Category Hong Kong Office Market - The recovery of the Hong Kong office market is expected to continue benefiting companies such as Swire Properties (01972), Swire Pacific Ltd A (00019), Land Lease, Hysan Development (00014), and Henderson Land Development (00012) [1] - UBS indicates that the Grade A office market in Central Hong Kong is approaching a bottom due to a decrease in supply expected in the coming years [1] Shanghai Office Market - According to CBRE data, Shanghai office rents decreased by 0.8% quarter-on-quarter in Q3 [1] - The supply of office space in Shanghai increased by 116,000 square meters due to the completion of two new buildings, while net absorption rose by 6.7% to 100,000 square meters [1] - UBS anticipates that 820,000 square meters of new supply will enter the Shanghai market in the next six months, and due to ample supply in the next two years, office rents in Shanghai are expected to continue declining next year [1]

Core Viewpoint - UBS reports indicate that there are more clear signals suggesting a recovery in the Hong Kong office market, particularly in the Central district, with a projected decline in supply from 2026 to 2027 [1] Group 1: Market Recovery - The Grade A office market in Central Hong Kong is nearing a bottom, according to UBS [1] - The recovery in the office market is expected to benefit stocks with Grade A office business in Hong Kong, including Swire Properties, Swire Pacific, Land Lease, Hysan Development, and Henderson Land [1]

Core Viewpoint - The outlook for Hong Kong conglomerates in the coming year remains positive, with several catalysts expected to drive growth, including a projected 5% increase in recurring profits by 2026 and support from a weaker US dollar [1] Summary by Category Profit Growth - The forecast indicates a 5% growth in recurring profits for Hong Kong conglomerates by 2026 [1] Dividend Expectations - Anticipated dividend payouts for the next year are expected to increase by approximately 3% year-on-year, providing a reasonable return for investors during the waiting period for catalysts [1] Valuation and Returns - Current valuations show Hong Kong conglomerates trading at about a 32% discount to their net asset value per share, with a projected dividend yield of 4.6% for 2026, slightly above the ten-year average of 4.5% [1] Preferred Stocks - The top stock picks include Cheung Kong (00001) and Chow Tai Fook (00659), with target prices raised to HKD 61 and HKD 9.6 respectively, as they present the most attractive risk-return profiles [1] - Other favorable stocks include First Pacific (00142) and Swire Properties A (00019), with target prices set at HKD 8.2 and HKD 74 respectively, all rated as "outperform" [1]

Core Insights - The article highlights the participation of Swire Group at the China International Import Expo, showcasing its various enterprises and innovative practices in the Chinese market [1] Company Overview - Swire Group's subsidiaries, including Swire Properties, Swire Coca-Cola, Cathay Pacific, and Hong Kong Aircraft Engineering Company (HAECO), are prominently featured at the expo [1] - HAECO is recognized as a leading global provider of aircraft maintenance, repair, and overhaul (MRO) services, with a significant focus on the Asia-Pacific region [2][4] Market Opportunity - The Chinese aircraft maintenance market has grown from 639.7 billion yuan in 2019 to 786 billion yuan in 2023, with projections to reach 1,251 billion yuan by 2030, indicating a compound annual growth rate (CAGR) of approximately 6.18% from 2024 to 2028 [2][4] - The demand for regional maintenance centers is increasing due to the significant rise in flights and cargo routes in the Asia-Pacific region [4] Strategic Development - HAECO is strategically positioned with bases in Hong Kong and Xiamen, allowing it to offer comprehensive MRO services, including airframe, engine, and component maintenance [4] - The construction of the world's largest single-span aircraft maintenance hangar at Xiamen Xiang'an Airport is a key initiative for HAECO's expansion in the Chinese market [4][5] Sustainability Initiatives - HAECO is committed to sustainability, aiming for net-zero emissions by 2050, and plans to utilize green technologies, including solar energy, in its new facilities [6][7] - The company has received LEED Platinum certification for its new hangar, marking it as a leading environmentally friendly facility in the aviation maintenance sector [6] Competitive Advantage - HAECO's focus on innovation and green practices is seen as a competitive advantage, with a strong emphasis on high-quality service standards that meet the demands of international clients [7] - The company serves a global clientele, with 90%-95% of its customers being international, including major airlines from Hong Kong, the United States, Japan, and Europe [7]