Core Viewpoint - China Overseas Property (02669) reported a nearly 5% decline in stock price, with a current price of HKD 5.57 and a trading volume of HKD 362 million. The company announced its mid-year results for 2025, showing a 3.7% year-on-year increase in overall revenue to RMB 7.0895 billion, and a 4.7% increase in gross profit to RMB 1.2024 billion. The profit attributable to ordinary shareholders rose by 4.3% to RMB 769 million. The company plans to distribute an interim basic dividend of HKD 0.09 and a one-time special dividend of HKD 0.01 to celebrate its 10th anniversary of listing. However, Huatai Securities noted that the company's revenue growth has slowed, primarily due to the exit from low-quality projects and the drag from value-added services, while maintaining a stable dividend payout ratio. The firm remains optimistic about the company's ability to achieve steady growth and gradually increase the dividend payout ratio, maintaining a "buy" rating. For the full year, the company is expected to achieve positive year-on-year growth in net profit attributable to shareholders, but it may struggle to reach double-digit growth [1]. Financial Performance - Overall revenue increased by 3.7% year-on-year to RMB 7.0895 billion [1] - Gross profit rose by 4.7% year-on-year to RMB 1.2024 billion [1] - Profit attributable to ordinary shareholders increased by 4.3% to RMB 769 million [1] Dividend Distribution - The company plans to distribute an interim basic dividend of HKD 0.09 [1] - A one-time special dividend of HKD 0.01 will be distributed to celebrate the 10th anniversary of the company's listing [1] Market Outlook - Revenue growth has slowed due to the exit from low-quality projects and challenges in value-added services [1] - Huatai Securities maintains a "buy" rating, expecting steady growth and gradual increases in dividend payout [1] - Full-year net profit attributable to shareholders is expected to show positive year-on-year growth, but may not reach double-digit growth [1]
中海物业跌近5% 公司营收增速有所放缓 中期息连特别息派10港仙