WHARF REIC(HK:01997) 智通财经网·2025-08-07 05:08Core 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]