| 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 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 太古地產有限公司 | | 股份代號 | 01972 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二五年十二月三十一日止年度的第一次中期股息 | | | 公告日期 | 2025年8月7日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.35 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.35 HKD | | 匯率 | 1 HKD : 1 HKD | | 除淨日 | ...

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。 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） 二零二五年中期業績 二零二五年中期業績 目錄 | | 頁 | | --- | --- | | 財務撮要 | 1 | | 主席報告 | 2 | | 行政總裁報告 | 4 | | 業務評述 | 8 | | 融資 | 38 | | 簡明中期財務報表的審閱報告 | 44 | | 簡明中期財務報表 | 45 | | 簡明中期財務報表附註 | 50 | | 附加資料 | 70 | | 詞彙 | 73 | | 財務日誌及投資者資訊 | 74 | 二零二五年中期業績 財 務 撮 要 | | | 截至六月三十日止六個月 | | | | --- | --- | --- | --- | --- | | | | 二零二五年 | 二零二四年 | | | | 註 | 港幣百萬元 | 港幣百萬元 | 變幅 | | 業績 | | | | | | 收入 | | 8 ...

Group 1: Summer Consumption Trends - The arrival of the summer consumption season has increased foot traffic for various commercial entities and stimulated innovation in business practices, creating engaging summer experiences for consumers in Chengdu [1] - The "Simple is Wonderful" themed event at Chengdu Taikoo Li, presented by Swire Properties and Disney China, combines trendy art with urban culture, offering a unique shopping experience [2][4] Group 2: Themed Activities and Promotions - The "Simple is Wonderful" event features a pop-up café and interactive games, injecting fresh vitality into the shopping district and encouraging consumer exploration [4][6] - The event will run until August 31, with additional promotions for the Qixi Festival and themed running groups planned to enhance consumer engagement [6] Group 3: IP Development and Brand Engagement - CapitaLand's self-created IP "Panda A Le" has been relaunched with an upgraded image, initiating a nationwide series of events titled "Meet A Le, Start Happiness" [7][9] - The upgraded 3D plush version of "Panda A Le" aims to resonate with audiences and enhance emotional connections, reflecting CapitaLand's commitment to panda conservation in China [9][11]

Investment Dynamics - Marsala Biotechnology has completed a B+ round financing exceeding 100 million yuan, led by Baillie Investment and Baillie Zhigao, with existing shareholders also participating [3] - The funds will be used to enhance R&D and clinical trials, solidifying the company's leading position in the "clinical + consumer" dual scenarios [3] Company Developments - Berkshire Hathaway has reported a $3.8 billion impairment loss on its stake in Kraft Heinz, reducing the book value of its shares to $8.4 billion [5] - Kaluga Queen's parent company is considering an IPO in Hong Kong, with discussions ongoing regarding the scale of the offering [7] - Mr. Ice Cream is hiring for an IPO audit position, indicating potential plans for a Hong Kong IPO [9] - Goldman Sachs is set to acquire Froneri for €15 billion, utilizing a unique "continuation fund model" to manage the investment [13] - Bogner's parent company is selling 60% of its shares to Katjes International, enhancing Bogner's capital base for international expansion [16] - Cargill is selling its animal feed production business in Malaysia for approximately 231 million ringgit as part of a global restructuring [18] - Haoxiangni has launched a new series of craft beers, aiming to diversify its product offerings amid market challenges [20] - Kering and Swire Properties have established a sustainable development partnership to enhance ESG performance in retail [23] Personnel Changes - Walmart announced the immediate resignation of Ignacio Caride, CEO of Walmart Mexico and Central America, appointing Cristian Barrientos as interim CEO [25]

Group 1: Core Business Performance - The Hong Kong office market is facing significant challenges, with a vacancy rate rising to 13.6% in the first half of 2025, indicating an oversupply situation [2] - The rental rate for the company's Hong Kong office properties has declined from 93% at the end of 2024 to 91% by the end of Q2 2025, with specific declines of 1% for Taikoo Place and 3% for Taikoo Square [2] - Rental rates for the two core properties have decreased by 14% and 15% respectively, reflecting competitive market conditions [2] Group 2: Retail Market Performance - In contrast to the office sector, the company's retail properties have shown stable growth, with key projects maintaining a 100% occupancy rate [4] - Notable sales growth was observed in Shanghai's Taikoo Hui, which increased by 13.5%, and Beijing's Sanlitun Taikoo Li, which grew by 6.8% [4] - The performance disparity among retail projects is influenced by local economic conditions and operational factors, necessitating targeted strategies for maintaining retail business stability [4] Group 3: Future Development Projects - Several new projects, including Beijing Taikoo Place and Xi'an Taikoo Li, are under construction and are expected to be completed between 2026 and 2027, which will provide new growth momentum for the company [5]

Core Viewpoint - The company reported strong retail performance in its shopping centers, with most locations showing year-on-year growth in retail sales for the first half of 2025, indicating a robust recovery in the retail sector [1][2]. Group 1: Retail Performance - Shanghai Xinyi Taikoo Hui saw a retail sales increase of 13.5% year-on-year, while Beijing Sanlitun Taikoo Li grew by 6.8% [1]. - Chengdu Taikoo Li and Shanghai Qiantan Taikoo Li reported retail sales growth of 4% and 0.2% respectively, with Beijing Yiti Port remaining flat and Guangzhou Taikoo Hui declining by 2.1%, a significant improvement from a 10.7% decline in 2024 [1]. - The overall trend indicates that major shopping centers are benefiting from the continued entry of luxury brands, which is expected to further enhance retail sales and rental income in the coming years [1]. Group 2: Hong Kong Market Insights - Hong Kong shopping centers maintained full occupancy with a slight improvement in retail sales growth, contrasting with street shops affected by tourist spending [2]. - Taikoo Place, Taikoo City Centre, and Cityplaza reported retail sales growth of 1.4%, 2%, and a decline of 3.3% respectively, with a consistent 100% occupancy rate for six consecutive quarters [2]. - The Hong Kong office market remains under pressure due to historical rent reductions, with new supply continuing to impact rental rates, although new lease rates have not seen significant declines [2]. Group 3: Investment Outlook - The company’s assets are primarily located in prime shopping districts, providing a strong competitive advantage and operational capabilities that enhance project performance [2]. - Projected net profit growth for the company is estimated at 449%, 54%, and 37% for 2025 to 2027, with dividends expected to grow at 5% annually [2]. - The current estimated net present value per share is HKD 23.92, with a projected dividend yield of 5.6% for 2025, maintaining a "recommended" rating [2].

开云集团首席可持续发展官兼政府事务官玛丽-克莱尔.达芙(Marie-Claire Daveu)表示："开云坚信，可持 续发展理念必须融入价值链的每一个环节——从设计、采购到零售运营。此次与太古地产的合作，通过 我们在集团重点市场的切实协作与共同愿景，将环境承诺转化为门店层面的实际行动，具有重要的推进 意义。与志同道合的业主方携手，我们能够加速向更可持续的零售模式转型，共同塑造更具责任感的行 业未来。" 太古地产零售业务董事韩置表示："我们很高兴能进一步加强与长期零售伙伴开云集团的合作。除了携 手打造卓越的零售体验，我们还将开展更紧密的合作，以提升双方零售项目的整体可持续发展表现，并 最终实现我们共同及各自的可持续发展愿景和承诺。这一举措是业主与租户积极携手、推动可持续发展 的又一有力例证，也期待启发业界为迈向可持续未来做出更多努力。" 新京报贝壳财经讯(记者阎侠)8月4日，太古地产与开云集团(Kering)宣布建立以可持续发展为核心的合 作伙伴关系，旨在提升开云集团于中国内地和中国香港特别行政区太古地产旗下商场内所有新开及现有 门店的环境、社会及公司治理(ESG)表现。 据悉，双方近期通过签署合作备忘录，正式 ...

Group 1 - Kering Group and Swire Properties have established a partnership focused on sustainability to enhance ESG performance in new and existing stores in mainland China and Hong Kong [1] - Kering's Chief Sustainability Officer, Marie-Claire Daveu, emphasized the importance of integrating sustainability into every aspect of the value chain, from design to retail operations [1][2] - The partnership includes Kering's "Kering Green Building Guidelines" and participation in Swire Properties' "Green Retail Partnership" program, set to launch in 2024 [1] Group 2 - The "Green Retail Partnership" will incorporate sustainability considerations throughout the entire leasing cycle, including store design, renovation, and operations [2] - Swire Properties will provide technical guidance for Kering's new stores to implement sustainable design and renovation practices, covering areas such as lighting, interior layout, eco-friendly materials, and energy and water management [2]

双方早前通过签署合作备忘录，落实这项可持续发展的伙伴协作。此次合作结合开云集团的"开云绿筑 共建指南"，而开云集团及旗下高端精品品牌亦将参与太古地产的"Green Retail Partnership"计划。这项 计划由太古地产于 2024 年推出，专为零售合作伙伴而设，重点包括推动可持续店铺设计、加强 ESG 数 据共享和监测，以及提升店铺营运的环保表现。 智通财经APP获悉，近日，全球高端精品集团开云集团 (Kering) 与太古地产(01972)宣布，建立以可持续 发展为核心的合作伙伴关系，提升开云集团在太古地产旗下于中国内地及香港商场中，所有新设及现有 店铺的环境、社会及管治 (ESG) 表现。开云集团首席可持续发展官兼政府事务官玛丽-克莱尔·达芙 (Marie-Claire Daveu) 表示，开云相信，可持续发展理念必须融入价值链的每一个环节—从设计、采购到 零售营运。太古地产零售业务董事韩置表示，非常高兴能进一步加强与长期租户伙伴开云集团的合作。 开云集团及旗下品牌将通过参与"Green Retail Partnership"，将可持续发展考量纳入店铺整个租赁周期 内，包括店铺设计、装修以及营运 ...

Group 1 - The core viewpoint of the article highlights the operational performance of Swire Properties for the second quarter of 2025, showcasing strong occupancy rates across its retail properties in mainland China [1] Group 2 - In Beijing, the occupancy rate of Taikoo Li Sanlitun reached 99%, up from 98% in the same period last year [1] - Guangzhou Taikoo Hui maintained a 100% occupancy rate, consistent with the previous year [1] - Beijing Yintai Center achieved a 100% occupancy rate, an increase from 98% year-on-year [1] - Chengdu Taikoo Li reported a 97% occupancy rate, up from 96% year-on-year [1] - Shanghai Xingye Taikoo Hui's occupancy rate was 94%, an increase from 93% year-on-year [1] - Shanghai Qiantan Taikoo Li maintained a stable occupancy rate of 98%, unchanged from the previous year [1] Group 3 - In terms of development, the total floor area of Beijing Taikoo Fang is 375,837 square meters, with completion expected to begin in mid-2026 [1] - Construction is currently underway for the above-ground, curtain wall, and electromechanical installation works [1] - Xi'an Taikoo Li and Sanya Taikoo Li are projected to be completed starting in 2027, with relevant construction also in progress [1]