Group 1 - Swire Properties reported a revenue of HKD 87.23 billion for the first half of 2025, representing a year-on-year increase of 20% [2] - The company recorded a loss attributable to shareholders of HKD 12.02 billion, compared to a profit of HKD 17.96 billion in the same period last year [2] - A mid-term dividend of HKD 0.35 per share is proposed [2] Group 2 - Anhui Province aims to establish itself as a hub for general artificial intelligence innovation and application, driven by the "Artificial Intelligence +" initiative [3] - The provincial government emphasizes the need for breakthroughs in original and leading technologies and the attraction of innovative entrepreneurial teams [3] Group 3 - The Chengdu World University Games is set to be the largest in history, with 6,679 athletes and officials from 112 countries and regions participating [4] - The event features a diverse age range among athletes, from 13 to 68 years old [4] Group 4 - Taobao announced an upgrade to its 88VIP membership benefits, adding new perks while maintaining the same membership price [5] - This move is seen as a strategy to enhance member engagement and deepen the consumption ecosystem [5] Group 5 - Sony reported PlayStation 5 sales of 2.5 million units in the first fiscal quarter of 2025, a 4% increase from 2.4 million units in the same period last year [6] - The PS5 continues to demonstrate market resilience and maintain its competitive edge [6] Group 6 - China's total goods trade value for the first seven months of the year reached CNY 25.7 trillion, reflecting a year-on-year growth of 3.5% [8] - The growth rate accelerated by 0.6 percentage points compared to the first half of the year, with notable increases in trade with ASEAN, the EU, Africa, and Central Asia [8] Group 7 - The Ministry of Finance announced a policy to waive childcare education fees for all kindergarten senior class children, expected to benefit around 12 million children in the upcoming autumn semester [9] Group 8 - Li Auto's legal department announced plans to hold accountable those spreading negative reviews about the company, citing organized misinformation campaigns [10] - This initiative aims to protect the image of Li Auto and its users from online harassment [10] Group 9 - Reports indicate that Alibaba is likely to exit its investment in the Indian company Eternal through a block trade valued at approximately INR 5.375 billion (around USD 61.3 million) [12] - Alibaba's Antfin Singapore holds a 2.08% stake in Eternal, which will be sold at a discount to the market price [12]

Core Viewpoint - Swire Properties (1972.HK) reported strong mid-year results for 2025, with revenue of HKD 87.23 billion, a 20% year-on-year increase, and a net profit attributable to shareholders of HKD 44.2 billion, up 15% [1] Group 1: Financial Performance - The company achieved a basic earnings per share of HKD 0.76 and declared an interim dividend of HKD 0.35 per share [1] - Despite a 4% decrease in recurring net profit attributable to shareholders, from HKD 35.7 billion in the first half of 2024 to HKD 34.2 billion in the first half of 2025, the overall performance remained robust [1] Group 2: Market Conditions - The retail market in Hong Kong showed weakness due to increased outbound tourism, changing consumer habits, and economic uncertainty from U.S. tariff policies [1] - However, Swire Properties' shopping malls maintained high occupancy rates, with retail sales rebounding in the second quarter, outperforming the market [1] Group 3: Mainland China Operations - In mainland China, government measures and policy relaxations positively impacted retail sales, with notable occupancy rates and sales growth in key locations: - Beijing Sanlitun Taikoo Li: 99% occupancy, 6.8% sales growth - Shanghai Xinyi Taikoo Hui: 94% occupancy, 13.5% sales growth - Shanghai Qiantan Taikoo Li: 98% occupancy, 4.0% sales growth [2] - Swire Properties has committed to investing HKD 100 billion over the next decade in core markets, with 50% allocated for mainland investments [2] Group 4: New Projects and Developments - The company is set to commence construction on the largest Taikoo Li project in Xi'an in November 2023, aiming for completion in 2027 [3] - The Taikoo Place project in Beijing is expected to start completion in mid-2026, focusing on sustainability and community development [3] - Swire Properties acquired stakes in two companies from Lujiazui Group for HKD 9.70997 billion to develop new landmark projects in Shanghai [3] - The company is also advancing projects in the Greater Bay Area, including the expansion of Guangzhou Taikoo Hui and the first Taikoo Li project in Liwan District [4]

瑞银发表研究报告指，太古地产上半年经常性基本溢利按年跌4%至为34亿港元，符合该行预期。集团 提高中期息3%至0.35港元，并重申目标是每股派息有中单位数按年增长。净负债比率为15.7%，与上半 年持平。 该行预期资产回收势头将于短期内持续，因迈阿密发展项目South Brickell Key项目的预售表现强劲，截 至5月销售额已达10亿美元，加上集团处置青衣工业大厦获7.5亿港元。此外，集团将推出柴湾住宅及深 水湾豪宅项目销售，该行料分别涉85亿及13亿港元。该行指，股份现时仍可提供5.5%股息率，市账率 (PB)0.44倍，估值具吸引力，目标价为23港元，评级"买入"。 ...

中信里昂发布研报称，上调太古地产(01972)目标价21.3%，从18.3港元升至22.2港元，维持"买入"评 级。中信里昂指，太古地产2025年上半年业绩好于预期，受惠于出售美国资产及美国税收抵免(tax credit)。尽管该公司还没有宣布第二轮股票回购，但中信里昂认为，基本面的改善，强劲的房地产销售 预定以及投资物业的竣工，因此可以加速盈利增长，可以支持股价。基于上述因素，上调对该公司2025 和2027年盈利预测6.9%和1.1%，但下调2026年盈利预测0.3%，从而反映出售以及交付计划的变化。 ...

中信里昂发布研报称，上调太古地产(01972)目标价21.3%，从18.3港元升至22.2港元，维持"买入"评 级。中信里昂指，太古地产2025年上半年业绩好于预期，受惠于出售美国资产及美国税收抵免(tax credit)。尽管该公司还没有宣布第二轮股票回购，但中信里昂认为，基本面的改善，强劲的房地产销售 预定以及投资物业的竣工，因此可以加速盈利增长，可以支持股价。基于上述因素，上调对该公司2025 和2027年盈利预测6.9%和1.1%，但下调2026年盈利预测0.3%，从而反映出售以及交付计划的变化。 ...

Major Events - Silver诺医药-B (02591) is set to conduct an IPO from August 7 to August 12, with an expected listing date of August 15 [1] - Boan Biotech (06955) plans to place 48 million shares at a discount of approximately 8.78%, aiming to raise about HKD 780 million [1] - Derin Holdings (01709) intends to raise HKD 653.3 million, focusing on the development of blockchain, RWA, and virtual asset businesses [1] - Fuhong Hanlin (02696) received FDA approval to initiate a Phase 1 clinical trial for HLX43, a PD-L1 targeted antibody-drug conjugate for thymic cancer treatment [1] - China Biopharmaceutical (01177) obtained NMPA approval for the Phase II clinical trial application of LM-24C5, a dual antibody targeting CEACAM5/4-1BB [1] Financial Reports - China Mobile (00941) reported a shareholder profit of HKD 84.235 billion, a year-on-year increase of 5.03% [1] - Manulife Financial-S (00945) announced a core profit of CAD 1.7 billion for the second quarter [1] - Swire Properties (01972) reported a basic profit attributable to shareholders of HKD 4.42 billion, a year-on-year growth of 15% [1] - Hutchison Whampoa (00013) posted a net profit of USD 455 million, a significant year-on-year increase of 1663.32% [1] - MGM China (02282) disclosed a net profit of HKD 2.383 billion, a year-on-year decrease of 11.25% [1] - SMIC (00981) reported a shareholder profit of USD 132 million for the second quarter, with a revenue guidance for the third quarter indicating a sequential growth of 5% to 7% [1] - Zai Lab (09688) achieved a total revenue of approximately USD 216 million for the first half of the year, reflecting a year-on-year growth of 15.35% [1] - Innovent Biologics (01801) reported total product revenue exceeding RMB 5.2 billion for the first half of the year, maintaining a strong growth rate of over 35% [1] - Pacific Basin Shipping (02343) announced a profit attributable to shareholders of USD 25.6 million, a year-on-year decrease of 56% [1] - Lee & Man Paper Manufacturing (02314) reported a net profit of HKD 811 million, a year-on-year increase of 0.7%, with an interim dividend of HKD 0.066 per share [1] - Swire Group reported a profit attributable to shareholders of HKD 815 million for the first half of the year, a year-on-year decrease of 79% [1] - Lee & Man Chemical Company (00746) reported a profit increase of 36.0% to HKD 327 million, with an interim dividend of HKD 0.195 per share [1] - Hua Hong Semiconductor (01347) reported a profit attributable to parent company owners of USD 7.952 million for the second quarter, a year-on-year increase of 19.2% [1] - Wharf Real Estate Investment (01997) reported a loss attributable to shareholders of HKD 2.406 billion, a year-on-year increase of 128.71%, with the first interim dividend of HKD 0.066 per share [1] - Dekang Agriculture (02419) issued a profit warning, expecting a year-on-year increase in fair value adjustments of biological assets to approximately RMB 1.1 billion to 1.4 billion [1] - Mongol Mining (00975) issued a profit warning, anticipating a net loss of approximately USD 15 million to 25 million for the first half of the year, marking a shift from profit to loss [1] - Dongfeng Motor Group (00489) issued a profit warning, expecting a decline in net profit attributable to the parent company of 90% to 95% for the first half of the year [1]

Core Viewpoint - Swire Properties reported a 15% year-on-year increase in basic profit to HKD 4.42 billion for the first half of 2025, despite a 4% decrease in recurring profit attributable to shareholders due to declining rental income from office properties in Hong Kong [2][3] Group 1: Financial Performance - Basic profit for the first half of 2025 increased by 15% to HKD 4.42 billion [2] - Recurring profit attributable to shareholders decreased by 4% from HKD 3.57 billion in the first half of 2024 to HKD 3.42 billion in the first half of 2025 [2] - Total rental income from office properties in Hong Kong fell by 5% to HKD 2.455 billion [3] Group 2: Market Conditions - The Hong Kong office market is expected to remain sluggish in the second half of the year due to intense competition and unstable demand growth [3] - The overall occupancy rate of Swire Properties' office portfolio in Hong Kong is 88% [3] - Retail properties in Hong Kong showed a slight decline in rental income, down 2% to approximately HKD 1.169 billion, while the occupancy rate for major shopping centers reached 100% [3] Group 3: Strategic Focus - Swire Properties continues to focus on its HKD 100 billion investment plan, with 67% of the funds already committed [4] - The company has made significant progress in its investment in mainland China, with 92% of the planned HKD 50 billion investment already implemented [4] - Future projects include expanding residential properties in Hong Kong and increasing total floor area in mainland China [5]

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 或任何部份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。 SWIRE PROPERTIES LIMITED 太古地產有限公司 (於香港註冊成立的有限公司) (股份代號：01972) 公告 與香港太古集團進行的持續關連交易 謹此提述公司二零一一年十二月二十一日的上市文件及二零一三年十一月十四 日、二零一六年八月十九日、二零一九年八月九日及二零二二年八月十一日的公 告，其中包括就有關公司與香港太古集團於二零零四年十二月一日訂立的服務協 議。服務協議將於二零二五年十月一日續期，以延長協議期限三年，自二零二六 年一月一日至二零二八年十二月三十一日。由於香港太古集團為公司的關連人 士，因此根據上市規則第 14A.31 條，按照服務協議進行的交易構成公司的持續關 連交易，須符合上市規則第 14A 章的申報、年度審核及公告規定。 服務協議於二零零四年十二月一日訂立，於二零一零年一月一日修訂及重列，並 於二零一九年八月九日進一步修訂及重列，及將於二零二五年十月一日續期 協議各 ...

Core Viewpoint - Swire Properties announced that its Executive Director and Chief Financial Officer, Long Yan, plans to resign in May 2026, with current Group Financial Director of Hong Kong Aircraft Engineering Company, Shi Shihua, set to succeed him [1] Company Leadership Changes - Long Yan will step down as Executive Director and CFO of Swire Properties in May 2026 [1] - Shi Shihua, currently the Group Financial Director at Hong Kong Aircraft Engineering Company, will take over the CFO role upon Long Yan's departure [1] Background of Successor - Shi Shihua, aged 49, joined Swire Group in 2015 and has held senior financial positions in the shipping and marine services sectors in Singapore and the UK [1] - He was appointed Group Financial Director of Hong Kong Aircraft Engineering Company in August 2021, overseeing financial, procurement, and legal matters [1] - Prior to joining Swire Group, Shi held various financial roles in the oil and gas industry across the UK, Netherlands, and UAE [1]

Group 1 - The core viewpoint of the article highlights that Swire Properties reported a strong performance for the first half of 2025, with revenue reaching HKD 87.23 billion, a 20% year-on-year increase, and a 15% rise in shareholder profit to HKD 44.2 billion [1] - The company plans to focus on enhancing shareholder value through capital flow strategies and reallocating funds to high-growth potential markets, including Hong Kong, mainland China, and Southeast Asia [1] - Retail sales in mainland China showed signs of stabilization, with rental income from investment properties totaling HKD 30.73 billion, remaining stable compared to the same period in 2024 [1] Group 2 - Swire Properties has initiated a HKD 100 billion investment plan, with 67% of the funds already allocated, primarily targeting Hong Kong, mainland China, and Southeast Asia [2] - The company plans to invest HKD 50 billion in the mainland market, with 92% of this already secured, focusing on large-scale development projects such as Lujiazui Swire Source and the expansion of Qiantan Swire [2] - Swire Properties is enhancing its commitment to sustainable development and community building in projects like Beijing Taikoo Li, while also advancing innovative retail projects in Sanya and establishing a retail-focused Taikoo Li project in Xi'an [2]