Zhi Tong Cai Jing·2025-07-31 02:31Core Viewpoint - 恒隆地产's stock rose over 3%, closing at 8.21 HKD with a trading volume of 118 million HKD, despite a significant decline in revenue and profit due to weak property sales and rental income [1] Financial Performance - For the six months ending June 30, 2025, 恒隆地产 reported total revenue of 4.968 billion HKD, a year-on-year decrease of 19% [1] - Property sales revenue plummeted by 87% to 161 million HKD, contributing to the overall revenue decline [1] - Rental income and operating profit both fell by 3%, amounting to 4.678 billion HKD and 3.346 billion HKD respectively [1] - Shareholders' net profit decreased by 9% to 1.587 billion HKD, primarily due to lower rental operating profit and increased financial expenses [1] Dividend and Financial Management - The company declared an interim dividend of 0.12 HKD per share [1] - Citigroup noted that 恒隆地产's basic earnings for the first half of the year fell by 8.5% to 1.587 billion HKD, aligning with expectations [1] - 中金 indicated that the company will continue to actively manage its financial statements, control capital expenditures, and promote project disposals and capital circulation [1] - It is anticipated that capital expenditures will decline after peaking this year, with a net debt ratio expected to remain below 40% [1] - Based on its stable operating trends and manageable debt pressure, the bank believes the company's annual dividend amount is likely to remain stable [1]