Zhi Tong Cai Jing·2025-08-14 06:48Group 1 - The core viewpoint of the report indicates that Kowloon Development's (00004) basic profit for the first half of the year increased by 3% to HKD 2.035 billion, exceeding expectations due to reduced impairment losses and lower-than-expected interest and tax expenses [1] - The interim dividend remains unchanged at HKD 0.20 per share [1] - The target price for Kowloon Development has been lowered from HKD 25.1 to HKD 24.9, while the investment rating has been upgraded from "Hold" to "Buy" [1] Group 2 - Kowloon Development's stock price has dropped by 6% over the past month, underperforming the market by 9 percentage points [1] - The current stock price is trading at a 60% discount to the bank's assessed net asset value, slightly higher than the ten-year average of 59% [1] - The company may see improved market sentiment if the upcoming residential projects receive a positive market response [1]