Core Viewpoint - Country Garden Services reported a decline in profit for the first half of the year, indicating ongoing challenges in the industry. However, the company announced an increase in its dividend payout ratio from 32.6% last year to 60% for the current year, along with a share buyback plan of 500 million yuan, which is expected to enhance shareholder returns [1] Company Summary - The profit decline reflects the challenging fundamentals of the industry [1] - The company has increased its dividend payout ratio significantly, which is a positive signal for shareholders [1] - A share buyback of 500 million yuan is being implemented to further boost shareholder value [1] - 20% of the company's shares are held in a charitable trust, and 16.26% are pledged, suggesting that the controlling family's shares will remain locked for the next five years, reducing the likelihood of a change in control [1] Financial Forecast - The profit forecasts for Country Garden Services for the next two years have been adjusted, with a 3.2% increase for this year and a 5.8% decrease for the following year, reflecting impairment adjustments [1] - The target price for the company's shares has been raised from 5.2 HKD to 7.1 HKD, while maintaining a "hold" rating [1]