Core Viewpoint - The Li Ka-shing family’s Cheung Kong Holdings is actively selling properties in the Greater Bay Area, attracting attention from Hong Kong buyers due to significant price reductions in various projects [1][4]. Group 1: Property Sales and Pricing - Cheung Kong Holdings is offering 400 units across four projects in the Greater Bay Area, with prices starting at 400,000 yuan [1]. - The Huizhou Longpu Garden has a unit price of over 8,000 yuan/m², which is more than a 30% decrease compared to the average price in 2020, making it a focal point for buyers from Hong Kong [1][4]. - The Guangzhou Yucui Garden has sold over 1,000 units since its launch, with current listings showing significant price reductions, such as a 126 m² unit priced at approximately 2.28 million yuan [2][3]. Group 2: Market Trends and Buyer Behavior - There has been a noticeable increase in inquiries and visits from Hong Kong buyers to the Greater Bay Area, particularly in response to the recent price drops [4]. - The trend of Hong Kong residents purchasing properties in mainland China has been ongoing for 20 to 30 years, but has expanded significantly into deeper areas of the Greater Bay Area since the introduction of the Guangdong-Hong Kong-Macao Greater Bay Area Development Plan [6]. - The motivations for Hong Kong buyers have shifted from investment to retirement and self-use, with many considering properties in the mainland due to lower living costs and improved transportation links [8].

Core Viewpoint - Li Ka-shing's Cheung Kong Property is selling 400 residential units in the Greater Bay Area at significantly reduced prices, with the cheapest unit priced at 400,000 yuan, indicating a strategic move to capitalize on market conditions and demand from Hong Kong buyers [2][5]. Group 1: Property Sales Strategy - The properties being sold are primarily older developments, with many having been acquired at low land costs years ago, allowing for substantial profit margins even at reduced prices [5][8]. - The pricing strategy is attractive, with units in Dongguan's Haiyi Haoting seeing price drops from 44,000 to 18,000-36,000 yuan per square meter, effectively halving the price [6][8]. - The sales are driven by a surge in demand from Hong Kong residents, who find the price difference compelling, as new homes in Hong Kong average around 200,000 yuan per square meter [5][6]. Group 2: Market Trends and Demand - The trend of Hong Kong residents purchasing properties in Guangdong has been increasing, with 3,341 transactions recorded by June 2023, amounting to 3.08 billion yuan [5][6]. - The development of the "one-hour living circle" in the Greater Bay Area is facilitating this trend, as more Hong Kong residents are willing to commute for work and leisure [5][8]. - The shift in buyer motivation from investment to self-occupation is notable, with buyers now prioritizing living conditions and amenities [8]. Group 3: Financial Strategy and Asset Management - The primary reason for the aggressive selling strategy appears to be the need for cash flow, as Cheung Kong's sales revenue in mainland China is projected to drop by 87% in 2024 compared to 2020 [7][8]. - Selling properties allows the company to mitigate risks associated with holding onto unsold inventory, especially in a market where some cities have inventory turnover periods exceeding 30 months [8]. - The sale of properties aligns with Li Ka-shing's long-standing strategy of capitalizing on favorable market conditions while managing financial risks effectively [12][13]. Group 4: Broader Strategic Adjustments - The sale of port assets by Li Ka-shing in recent years reflects a broader strategic shift in response to changing global trade dynamics and the need to reallocate resources to more promising sectors [9][10][12]. - The funds generated from asset sales are being redirected towards investments in technology and renewable energy, indicating a proactive approach to adapting to market changes [12][13]. - Overall, the company's actions demonstrate a calculated balance between risk management and seizing short-term opportunities in the real estate market [13].

Core Viewpoint - The China Securities Hong Kong Stock Connect Real Estate Index has shown positive performance over the past month, three months, and year-to-date, indicating a strong recovery in the real estate sector [2]. Group 1: Index Performance - The China Securities Hong Kong Stock Connect Real Estate Index increased by 3.04% over the past month, 9.88% over the past three months, and 13.08% year-to-date [2]. - The index is based on a sample of up to 50 eligible Hong Kong-listed companies that reflect the overall performance of the real estate sector [2]. Group 2: Index Composition - The top ten weighted companies in the index are: Sun Hung Kai Properties (14.11%), Beike-W (12.73%), China Resources Land (10.83%), Cheung Kong Property (7.94%), China Overseas Land & Investment (6.28%), Wharf Real Estate Investment (4.72%), Sino Land (4.39%), Henderson Land Development (4.22%), Longfor Group (2.85%), and Wharf Holdings (2.83%) [2]. - The index is composed entirely of real estate companies, with 100% of its holdings in the real estate sector [3]. Group 3: Index Adjustment Mechanism - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December [3]. - In special circumstances, the index may undergo temporary adjustments, such as when a sample company is delisted or when new companies meet the criteria for inclusion [3].

Core Viewpoint - The recent sale of 400 properties in the Greater Bay Area by Cheung Kong Holdings highlights a strategic exit from the mainland property market, capitalizing on historical land value appreciation while appealing to Hong Kong buyers with attractive pricing [1][5]. Group 1: Property Sales and Pricing Strategy - Cheung Kong Holdings is selling properties in the Greater Bay Area at prices that are significantly lower than comparable properties in Hong Kong, with total prices starting at 400,000 RMB, which is only enough for a 2-square-meter down payment in Hong Kong [1]. - The price drop of units in Huizhou Longpu Garden from 14,000 RMB to 8,632 RMB per square meter signals a retreat of capital from the mainland property market [1][3]. - The strategy of offering "discounted" prices is designed to create a sense of urgency among buyers, while still maintaining profit margins, as the actual transaction prices remain 15% higher than three years ago [3]. Group 2: Financial Maneuvering and Market Trends - Cheung Kong Holdings is conducting these sales exclusively in Hong Kong dollars, allowing the company to avoid risks associated with RMB depreciation and to channel Hong Kong capital into offshore accounts [5]. - The properties being sold were acquired during a period of low land prices around the time of the Hong Kong handover, and their current sale represents a culmination of 26 years of value appreciation [5]. - The capital generated from these sales is likely to be reinvested in stable utility sectors in the UK and the Netherlands, reflecting a strategic shift in investment focus [5][7]. Group 3: Broader Implications for Investors - The actions of Cheung Kong Holdings serve as a case study for investors, illustrating the importance of timing and strategic exits in capital markets, as the company has methodically exited the Chinese real estate market over the past decade [5][7]. - The ongoing sales and the associated pricing strategies reflect broader trends in the property market, where established players are recalibrating their positions in response to market fluctuations [7].

Core Viewpoint - The article highlights the increasing demand from Hong Kong buyers for properties in mainland China, particularly in the Guangdong province, driven by lower prices and better living conditions compared to Hong Kong [1][9]. Group 1: Market Trends - The four projects promoted by Cheung Kong Property include Huizhou Longbo Garden, Zhongshan Longbo Garden, Guangzhou Yicui Garden, and Dongguan Haiyi Haoting, totaling 400 units with prices starting from 400,000 RMB [1][3]. - The trend of Hong Kong residents purchasing properties in mainland China has become significant, with 3,341 transactions recorded by the People's Bank of China in Guangdong, generating cross-border income of 3.08 billion RMB as of June [1][10]. - The demand for properties in the Greater Bay Area is attributed to its improved connectivity and public services, making it a preferred destination for Hong Kong residents [1][9]. Group 2: Property Details - Huizhou Longbo Garden is the largest project with 300 units available, while Dongguan Haiyi Haoting targets high-end buyers with villas priced between 7 million to 8 million RMB [3][5]. - The properties being sold are primarily from earlier low-cost land acquisitions, with significant sales already recorded, such as nearly 600 units sold in Huizhou Longbo Garden, mostly to Hong Kong buyers [3][5]. - The average price per square meter for Huizhou Longbo Garden is approximately 8,632 RMB, which is less than one-tenth of the average new home price in Hong Kong, making it attractive to the middle class [9][10]. Group 3: Buyer Motivations - The shift in Hong Kong buyers' motivations from investment to self-occupation is noted, with a focus on living conditions and long-term value rather than just asset allocation [12]. - The aging population in Hong Kong and the establishment of businesses and universities in the Greater Bay Area are contributing to the increasing demand for housing among Hong Kong residents [9][12]. - The development of a "one-hour living circle" in the Greater Bay Area is facilitating a more normalized cross-border living and working environment, enhancing the appeal of mainland properties [12].

Core Viewpoint - The article highlights the increasing demand from Hong Kong buyers for properties in mainland China, particularly in the Greater Bay Area, driven by lower prices and better living conditions compared to Hong Kong [1][9]. Group 1: Property Projects and Pricing - Four projects promoted by Cheung Kong Holdings include Huizhou Longbo Garden, Zhongshan Longbo Garden, Guangzhou Yicui Garden, and Dongguan Haiyi Haoting, totaling 400 units with prices starting from 400,000 RMB [1][3]. - The price of a one-bedroom unit in Huizhou Longbo Garden has decreased to approximately 8,632 RMB per square meter, down from a previous range of 10,400 to 14,000 RMB per square meter [1][9]. - Dongguan Haiyi Haoting's villa prices have dropped from 44,000 to 68,000 RMB per square meter in May 2023 to 18,000 to 36,000 RMB per square meter in June 2023 [1]. Group 2: Market Trends and Buyer Demographics - The demand from Hong Kong buyers for mainland properties has significantly increased since mid-2022, with Huizhou Longbo Garden selling nearly 600 units, mostly to Hong Kong residents [3][9]. - The People's Bank of China reported that as of June 2023, 3,341 transactions involving Hong Kong and Macau residents purchasing properties in mainland China generated cross-border income of 3.08 billion RMB [1][10]. - The trend of Hong Kong residents buying properties in mainland China is attributed to the aging population in Hong Kong and the increasing establishment of businesses and universities in the Greater Bay Area [8][9]. Group 3: Investment and Development Strategies - The strategy of "old projects sold anew" reflects the long-term development approach of the Li Ka-shing family, focusing on low-cost land acquisition and gradual development [1][9]. - Developers are adjusting prices to maintain normal transaction rhythms in the current market, which is characterized by low or slightly declining prices [9][10]. - The shift in Hong Kong buyers' motivations from investment to self-occupation indicates a growing preference for living conditions and community services available in mainland China [13].

Core Viewpoint - The company, Cheung Kong Holdings (01113.HK), announced that it will hold a board meeting on August 14, 2025, in Hong Kong to approve the publication of its interim results for the six months ending June 30, 2025, and to consider the distribution of an interim dividend [1] Group 1 - The board meeting is scheduled for August 14, 2025 [1] - The meeting will take place in Hong Kong [1] - The agenda includes the approval of interim results and consideration of an interim dividend [1]

長江實業集團有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司將於 二零二五年八月十四日（星期四）於香港舉行董事會會議，以（其中包括）批准刊發 本公司及其附屬公司截至二零二五年六月三十日止六個月之中期業績，以及考慮派發中期 股息。 承董事會命 長江實業集團有限公司 執行委員會委員 兼公司秘書 楊逸芝 香港，二零二五年七月三十一日 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文件的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本文件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。 CK ASSET HOLDINGS LIMITED 長江實業集團有限公司 (於開曼群島註冊成立之有限公司) (股份代號：1113) 董事會召開日期 於本文件日期，本公司之董事為執行董事李澤鉅先生（主席兼董事總經理）、甘慶林先生 （副董事總經理）、葉德銓先生（副主席）、鍾慎強先生、趙國雄博士、周偉淦先生及 鮑綺雲小姐，以及獨立非執行董事張英潮先生、洪小蓮女士、羅弼士先生、柏聖文先生、 郭李綺華女士、孫潘秀美女士、林少康先生、李慧敏女士及王䓪鳴博士。 ...

Core Viewpoint - The recent launch of the "Greater Bay Area Dual Residence Life" property plan by Changjiang Industrial Group has garnered significant market attention, with nearly 400 residential units being offered at an entry price of approximately 400,000 RMB per unit, reflecting a strategic move to optimize operations amid a challenging real estate market [1][2]. Group 1: Property Launch and Market Response - The properties included in the plan are primarily long-held assets acquired at lower prices, with significant price reductions observed, such as the Dongguan Haiyi Haoting project, which has seen prices drop from nearly 30,000 RMB per square meter to 15,000 RMB [1][2]. - The project lineup spans various types, from high-rise units to villas, with prices ranging from 400,000 RMB to nearly 10 million RMB, indicating a broad market targeting strategy [2]. - Despite the attractive pricing, the market response has been tepid, with some projects like the Guangzhou Yicui Garden and Zhongshan Longpu Garden nearing completion but showing limited new sales activity [3][4]. Group 2: Sales Performance and Inventory Challenges - The Dongguan Haiyi Haoting project, despite its luxury positioning, faces high inventory issues, with around 160 units remaining unsold since their launch in 2014, indicating a significant backlog [4][5]. - The recent sales push for the Dongguan project resulted in 84 units sold on the first day, generating 600 million RMB, but the overall inventory pressure remains high with over 462,260 square feet of commercial and residential land still undeveloped [5][10]. - The Huizhou Longpu Garden project has struggled with sales, with nearly 60% of sold units purchased by Hong Kong buyers, reflecting a shift in buyer demographics but insufficient ongoing sales momentum [8][9]. Group 3: Financial Performance and Strategic Implications - Changjiang Industrial Group's financial results indicate a decline in revenue, with a reported 455.29 billion HKD in revenue for 2024, down 3.63% year-on-year, and a significant drop in net profit by 21.24% [12][13]. - The company's strategy of aggressive price reductions to stimulate sales has led to a sharp decrease in profit margins, particularly in mainland property sales, which saw a 24.26% decline in revenue [13][14]. - The group holds substantial land reserves, with approximately 7.4 million square feet available for future development, primarily in the Greater Bay Area, which may support sales over the next 3 to 5 years [16][17].

Core Viewpoint - Recently, Cheung Kong Holdings Limited launched the "Greater Bay Area Dual Residence Life" property plan in Hong Kong, focusing on selling four residential projects in the Greater Bay Area, which has attracted significant market attention [2][3]. Summary by Sections Project Details - The total number of units for sale is nearly 400, with an entry threshold of approximately 400,000 RMB per unit [2][3]. - The projects included in the plan are Huizhou Longpo Garden, Dongguan Haiyi Haoting, Zhongshan Longpo Garden, and Guangzhou Yicui Manor, most of which were acquired at low prices many years ago [3][5]. - The pricing of these properties has seen significant reductions, with Dongguan Haiyi Haoting's average price dropping to 15,000 RMB per square meter, nearly halving from its peak of 30,000 RMB [2][6]. Market Response - Despite the launch, the sales performance has been relatively subdued compared to previous hot sales patterns [3][5]. - In Guangzhou, the two projects, Zhongshan Longpo Garden and Guangzhou Yicui Manor, have a combined sales rate exceeding 92%, but the market response has been lukewarm [6]. - Dongguan Haiyi Haoting has faced high inventory issues, with around 160 units unsold since 2014, leading to a strategy of price reduction to stimulate sales [6][7]. Buyer Demographics - Nearly 60% of the sold units in Huizhou Longpo Garden have been purchased by buyers from Hong Kong, indicating a significant shift in buyer demographics [10]. - The demand from Hong Kong buyers has been a crucial support for the project, especially as the mainland property market cools down [9][10]. Financial Performance - Cheung Kong's revenue for the fiscal year 2024 was 45.529 billion HKD, a decrease of 3.63% year-on-year, with net profit dropping by 21.24% [15]. - The company's property sales revenue from mainland China fell by 24.26%, with the contribution from mainland sales dropping from 50.40% to 32.47% [16]. - Despite achieving some sales, the significant price reductions have severely compressed profit margins, leading to a situation where the company has gained sales but lost profitability [16][21]. Strategic Considerations - The current push to sell properties in the Greater Bay Area reflects a strategic shift in response to market conditions, with a focus on clearing inventory [22]. - The company holds substantial land reserves in the Greater Bay Area, which could support development and sales over the next 3 to 5 years [21].