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]

智通财经APP获悉，港股今早探底回升，午后涨幅有所扩大，恒生指数成功站上两万五大关。截止收 盘，恒生指数涨0.69%或171点，报25081.63点，全日成交额为2457.48亿港元；恒生国企指数涨0.55%， 报8981.73点；恒生科技指数涨0.26%，报5546.73点。 国泰海通证券指出，年初以来的中国资产重估行情中，港股整体涨幅较A股更为可观，创新药、新消 费、AI应用等方向亮点纷呈。借鉴历史上港股占优行情，该行认为本轮行情或和其中的2012-2014年具 有一定相似性，港股表现强劲源于部分资产更具稀缺性。展望未来，港股稀缺性资产基本面更优，或吸 引南下持续流入，支撑港股继续向上。 蓝筹股表现 至6%，这带来显著的正向经营杠杆、竞争减少和盈利预估的提升。尽管近期表现优异，但如果增长得 以维持，该行认为该行业估值仍偏低。 1. 苹果概念表现亮眼。截至收盘，高伟电子(01415)涨9.62%，报29.86港元；鸿腾精密(06088)涨6.91%， 报3.25港元；舜宇光学(02382)涨3.3%，报76.75港元；蓝思科技(06613)涨2.93%，报21.1港元。 美国当地时间8月6日，苹果公司宣布追 ...

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]

Core Viewpoint - The financial performance of Kowloon Warehouse Properties in 2024 indicates unprecedented operational pressure, with significant declines in revenue and profit due to the ongoing downturn in the Hong Kong commercial real estate market [1] Group 1: Financial Performance - The company reported total revenue of HKD 12.912 billion, a year-on-year decrease of 3% [1] - Shareholder profit dropped to HKD 0.891 billion, down 81% from HKD 4.766 billion in 2023 [1] Group 2: Retail Sector Challenges - Core assets, Harbour City and Times Square, showed performance divergence; Harbour City saw a 2% increase in revenue, but operating profit remained stable [3] - Despite a high occupancy rate of 94%, tenant sales declined, impacting rental income [3] - Times Square experienced a 6% drop in both revenue and operating profit, despite efforts to attract new tenants [3] Group 3: Office Market Conditions - The office market faces oversupply and increased competition, leading to soft demand [4] - Overall occupancy rates improved to 90%, but rental rates are under downward pressure due to new supply [4] - Financial metrics showed a decline in earnings per share from HKD 2.67 to HKD 1.35, and return on equity fell from 2.50% to 0.47% [4] Group 4: Debt Management - The company effectively reduced net debt to HKD 34.2 billion, the lowest since its listing, improving its financial structure [5] - The debt-to-asset ratio decreased from 20.27% to 19.36% [5] - However, the company faces interest rate risks, with cash flow metrics indicating a negative financing cash flow of HKD 1.96 per share [5] Group 5: Future Outlook - The external environment remains complex, with trade conflicts and global economic uncertainties posing challenges [6] - The completion of the Hong Kong International Airport's three-runway system and government initiatives may support market recovery [6]

Core Viewpoint - Kowloon Warehouse Properties is facing unprecedented operational pressure, with a significant decline in profits and revenue due to the ongoing downturn in the Hong Kong commercial real estate market [1][3]. Group 1: Financial Performance - The company's total revenue for 2024 was HKD 12.912 billion, a year-on-year decrease of 3% [1]. - Shareholder profit dropped to HKD 0.891 billion, down 81% from HKD 4.766 billion in 2023 [1]. - Earnings per share fell from HKD 2.67 in 2023 to HKD 1.35 in 2024, indicating a decline in operational efficiency and profitability [4]. Group 2: Retail Sector Challenges - The core assets, Harbour City and Times Square, showed performance divergence, with Harbour City’s revenue increasing by 2% but operating profit remaining stable [3]. - Despite a high occupancy rate of 94%, tenant sales decreased, impacting overall revenue due to structural issues in the Hong Kong retail market [3]. - Times Square experienced a 6% decline in both revenue and operating profit, despite efforts to attract new tenants and adjust the tenant mix [3]. Group 3: Office Market Conditions - The office market is facing oversupply, leading to increased competition and soft demand [4]. - The overall occupancy rate improved to 90%, but rental rates are under downward pressure due to new supply entering the market [4]. - The financial data indicates a decrease in net asset return from 2.50% to 0.47%, reflecting weakened profitability [4]. Group 4: Debt Management and Financial Stability - The company successfully reduced its net debt to HKD 34.2 billion, the lowest since its listing, improving its financial structure [5]. - The debt-to-asset ratio decreased from 20.27% in 2023 to 19.36% in 2024, indicating a more robust financial position [5]. - However, the company faces interest rate risks, with the actual borrowing rate rising, and cash flow from financing activities showing a negative trend [5]. Group 5: Future Outlook - The external environment remains complex, with trade conflicts and global economic uncertainties posing challenges to Hong Kong's growth [6]. - The completion of the Hong Kong International Airport's three-runway system and government initiatives may support market recovery [6]. - A potential shift in cyclical factors could boost the retail and hotel sectors if comprehensive measures are effective [6].

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 interim results for the first half of 2025, showing a revenue of HKD 6.407 billion, a year-on-year decrease of 1.45% [1] - The company recorded a loss attributable to shareholders of HKD 2.406 billion, which represents a significant year-on-year increase of 128.71% [1] Group 2 - Excluding the impairment of investment properties, the unaudited basic net profit for the period was HKD 3.119 billion, slightly down from HKD 3.123 billion in the same period last year [1] - The company declared its first interim dividend of HKD 0.66 per share, compared to HKD 0.64 per share in the same period last year [1]

Core Viewpoint - Kowloon Development (01997) shares rose over 6%, currently up 6.37% at HKD 26.06, with a trading volume of HKD 115 million [1] Financial Performance - For the first half of 2025, the group reported revenue of HKD 6.407 billion, a year-on-year decrease of 1.45% [1] - The attributable loss to shareholders was HKD 2.406 billion, an increase of 128.71% year-on-year [1] - Excluding the impairment of investment properties, the unaudited basic net profit was HKD 3.119 billion, compared to HKD 3.123 billion in the same period last year [1] Dividend Information - The first interim dividend declared is HKD 0.66 per share, compared to HKD 0.64 per share in the same period last year [1]

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。 ...