Financial Data and Key Metrics Changes - Investment properties revenue decreased by 3% and operating profit fell by 4% due to persistent weak market conditions [2] - Gearing ratio improved to a new low of 17.6%, reflecting the company's commitment to deleveraging [2][6] - Core underlying net profit remained stable, with a 3% increase attributed to lower borrowing costs, which decreased by 27% [2][6] - Interim dividend per share increased by 3% to HKD 0.66 [3][6] Business Line Data and Key Metrics Changes - Hong Kong investment properties and hotels saw a 3% increase in core underlying net profit [3] - Retail rental income softened due to a drop in turnover rent, while office rental income rose by 2% driven by higher occupancy [5][12] - Harbour City maintained its revenue position relative to peers, benefiting from its scale and location [4] Market Data and Key Metrics Changes - Inbound visitation to Hong Kong increased from 9% to 15%, and retail sales ended a fourteen-month decline with positive growth in May and June [5] - Retail occupancy at Harbour City was 93%, while office occupancy rose to 90% [11][12] - Overall retail sales in Hong Kong have retreated to 2011 levels, with Harbour City retail revenue at 2014 levels [3][4] Company Strategy and Development Direction - The company is focused on deleveraging and maintaining solid cash flow despite falling asset values [6] - Plans to enhance experiential retail to drive engagement and sales, including partnerships with premium brands [9][10] - The company is considering significant capital investments to enhance competitiveness, particularly for the Marco Polo Hong Kong Hotel [24][25] Management's Comments on Operating Environment and Future Outlook - Management noted that the retail market in Hong Kong is in a base-building phase, with cautious optimism for gradual recovery [3][21] - Geopolitical tensions and uncertainties around interest rates continue to impact the market [3][14] - The company remains agile and proactive in navigating ongoing headwinds, with a focus on sustainability and ESG initiatives [15][16] Other Important Information - The company achieved LEED Platinum certification for several properties, reinforcing its commitment to sustainability [10][16] - Total equity has declined by 11% since IPO, primarily due to investment property revaluation [7] Q&A Session Summary Question: Retail sales performance and footfall outlook - Management observed a small year-on-year improvement in retail sales in May and June but cautioned that it is premature to conclude a recovery [21][22] Question: Capital investment plans for hotels - Management is evaluating whether to redevelop the Marco Polo Hong Kong Hotel or undertake a complete overhaul, with significant investment required [24][25] Question: Occupancy cost sustainability and rental pressures - Occupancy cost at Harbour City is stable at about 20%, but management does not expect base rent to increase significantly in the near term [29] Question: Office rental income increase explanation - The increase in office rental income is attributed to improved occupancy rather than rising rent per square foot [32][34] Question: Competitive landscape in retail - Management acknowledged increased competition in the retail sector, particularly in Cosway Bay, and emphasized the need for strategic investments [38][39] Question: Future acquisition plans - The company is not in a hurry to undertake acquisitions and will only consider attractive opportunities that align with its deleveraging strategy [53] Question: Redevelopment potential of Ocean Center - Management confirmed plans to redevelop Ocean Center but prioritized the Marco Polo Hong Kong Hotel due to its current state [75]

Financial Data and Key Metrics Changes - Investment properties revenue decreased by 3% and operating profit fell by 4% due to weak market conditions [3][4] - Borrowing costs decreased by 27% thanks to a drop in HIBOR, leading to a stable underlying net profit [3][4] - Gearing ratio reached a new low of 17.6%, reflecting the company's commitment to deleveraging [3][7] - Interim dividend per share increased by 3% to HKD 0.66, maintaining a consistent dividend policy since IPO [4][7] Business Line Data and Key Metrics Changes - Core underlying net profit from Hong Kong investment properties and hotels increased by 3% [4][7] - Retail rental income softened due to a drop in turnover rent, while office rental rose by 2% driven by higher occupancy [5][6] - Harbour City maintained its revenue position relative to peers, benefiting from its scale and location [5][6] Market Data and Key Metrics Changes - Retail sales in Hong Kong showed quarter-on-quarter improvement, ending a fourteen-month decline with positive growth in May and June [5][6] - Inbound visitation growth rose from 9% to 15%, indicating a recovery in tourism [5][6] - Retail occupancy at Harbour City was 93%, while office occupancy rose to 90% [12][13] Company Strategy and Development Direction - The company is focused on deleveraging and maintaining solid cash flow amidst a challenging macro environment [3][4] - Plans to enhance experiential retail to drive engagement and sales, including partnerships with premium brands [9][10] - The company is considering significant capital investment for the Marco Polo Hong Kong Hotel to enhance competitiveness [24][25] Management Comments on Operating Environment and Future Outlook - Management noted that the retail market in Hong Kong is in a base-building phase, with a cautious outlook for the second half of the year [4][24] - Geopolitical tensions and uncertainties around interest rates continue to impact the market [4][15] - The company remains agile and proactive in navigating ongoing headwinds while focusing on sustainability initiatives [16][17] Other Important Information - The company achieved LEED Platinum certification for both Times Square and Harbour City offices, reinforcing its commitment to sustainability [11][17] - The company aims to cut Scope 1 and 2 emissions by 42% and Scope 3 emissions by 25% by 2030 [16][17] Q&A Session Summary Question: Retail sales performance and sentiment outlook - Management noted a small improvement in retail sales in May and June but cautioned that it is premature to conclude a recovery [22][23] Question: Capital investment plans for hotels - Management is evaluating whether to redevelop the Marco Polo Hong Kong Hotel or undertake a complete overhaul, with no immediate plans to start work [24][25] Question: Occupancy cost and rental expectations - Occupancy cost at Harbour City is stable at about 20%, and management does not expect base rent to increase significantly in the near term [31][32] Question: Office rental income increase - The increase in office rental income was due to higher occupancy rather than rising rent per square foot, with competition remaining a challenge [36][37] Question: Future plans for Times Square - Management indicated readiness to invest in tenant and shopper engagement at Times Square to remain competitive [75][76]

Financial Performance - Group revenue decreased by 1% YoY to $6407 million[20] - HKIP & Hotel revenue decreased by 3% YoY to $5917 million[20] - Operating profit decreased by 5% YoY to $4684 million[20] - Underlying Net Profit (UNP) remained stable at $3119 million, with HKIP & Hotel UNP increasing by 3% to $3084 million[20] - Net IP Fair Value Change resulted in a deficit of $5118 million[20] - Interim Dividend Per Share (DPS) increased by 3% to $0.66[20] De-Leveraging and Financial Management - Borrowing cost decreased by 27% YoY, a reduction of $292 million[8,22] - Gearing ratio reached a new low of 17.6%[8] - Net debt decreased by 21% since IPO[26] Market Overview - Hong Kong retail sales retreated to 2011 levels, while Harbour City retail revenue was at 2014 levels[11] - HK retail sales showed improved momentum in Q2, increasing by 0.3% compared to a 7% decrease in Q1[14] Harbour City Performance - Harbour City retail revenue remained flat[45] - Harbour City retail occupancy was 93% and office occupancy was 90%[45]

Group 1 - The core viewpoint of the article highlights that Kowloon Development (01997) experienced a stock price increase of over 6%, reaching HKD 26.06 with a trading volume of HKD 115 million [1] - Kowloon Development reported its mid-year results for 2025, showing a revenue of HKD 6.407 billion, a year-on-year decrease of 1.45% [1] - The company recorded a shareholder loss of HKD 2.406 billion, which represents a year-on-year increase of 128.71% [1] - Excluding the impairment of investment properties, the unaudited basic net profit was HKD 3.119 billion, slightly down from HKD 3.123 billion in the same period last year [1] - The first interim dividend declared was HKD 0.66 per share, compared to HKD 0.64 per share in the previous year [1]

消息面上，九龙仓置业午间发布2025年中期业绩，上半年集团收入64.07亿港元，同比减少1.45%；股东 应占亏损24.06亿港元，同比扩大128.71%；期内，撇除投资物业重估减值，未经审核基础净盈利31.19 亿港元，上年同期为31.23港元。第一次中期股息每股0.66港元，上年同期派0.64港元。 九龙仓置业(01997)涨超6%，截至发稿，涨6.37%，报26.06港元，成交额1.15亿港元。 ...

九龙仓置业(01997.HK)发布公告，该公司将于2025年9月11日派发中期股息每股0.66港元。 本文源自金融界AI电报 ...

【财华社讯】九龙仓置业(01997.HK)公布，截至2025年6月30日止六个月，收入64.07亿元，同比减少 1.4%；股东应占亏损为24.06亿港元，2024年同期亏损10.52亿港元；每股基本亏损0.79港元。拟派中期 息0.66港元。 本文源自：财华网 回顾期內，未经审核基础净盈利保持稳定，为31.19亿港元，2024年同期为31.23亿港元，相当于每股 1.03港元。若计入投资物业重估减值净额51.18亿港元，2024年同期为44.26亿港元。 截至2025年6月30日，负债净额减少至333亿港元 。负债净额与总权益比率下降至17.6%。 ...

整体收入下降1%至64.07亿港元，营业盈利下降5%至46.84亿港元。其中，投资物业收入和营业盈利均 有所下降，但酒店收入和营业盈利均有所增长。发展物业录得营业亏损，而投资的营业盈利有所增加。 （文章来源：证券时报网） 九龙仓置业公布2025年上半年业绩。未经审核的净盈利基本保持稳定，为31.19亿港元。计入投资物业 重估减值后，股东应占集团亏损为24.06亿港元。公司将派发每股0.66港元的中期股息。 ...

Core Viewpoint - The company, Kowloon Development Company Limited (01997), announced a mid-term dividend of HKD 0.66 per share to be distributed on September 11, 2025 [1] Summary by Category Company Announcement - Kowloon Development Company Limited will distribute a mid-term dividend of HKD 0.66 per share [1]

Core Viewpoint - The company reported a decline in revenue and a significant increase in shareholder losses for the first half of 2025, indicating challenges in the current market environment [1] Financial Performance - The company's revenue for the first half of 2025 was HKD 6.407 billion, a year-on-year decrease of 1.45% [1] - Shareholder losses amounted to HKD 2.406 billion, representing a year-on-year increase of 128.71% [1] - The loss per share was HKD 0.79, and the interim dividend declared was HKD 0.66 per share [1] Market Environment - The number of inbound tourists in Hong Kong increased by 12%, while local outbound tourism showed signs of adjustment [1] - Retail sales in Hong Kong experienced a narrowing decline, with preliminary positive growth recorded in May and June, ending a 14-month downward trend [1] Business Strategy - The company is enhancing experiential retail services to deepen customer engagement and drive sales in response to changing tourism and consumption patterns [1] Property Market - The office market continues to face weak demand and oversupply, but the company's office portfolio showed improvement in occupancy rates [1] - Hotel occupancy rates increased, although room rates are under pressure due to regional competition and consumer sentiment [1] Asset Management - The company's investment properties recorded impairment losses due to soft asset values in the current market [1] - The company maintained prudent financial management, reducing net debt to HKD 33.3 billion, the lowest level since its listing [1] - The average interest cost decreased to 4.4%, resulting in a 27% saving in borrowing costs, with a healthy debt ratio of 17.6% [1]