Core Viewpoint - Songdu Service (09608.HK) has signed a letter of intent with Greenland Holdings to purchase a property in Hangzhou for RMB 6.65 million, highlighting the opportunity for capital preservation and investment in a prime location [1] Group 1: Property Acquisition Details - The property is located at the 17th floor, unit 1702 of Building 2, Hangzhou Century Center, in the Xiaoshan District of Hangzhou, with a total area of approximately 228.83 square meters [1] - The acquisition is seen as advantageous due to the property's location in a landmark building with strong market demand for both purchase and rental [1] Group 2: Investment Rationale - The property is expected to have strong value retention and appreciation potential, supported by high occupancy rates and strong liquidity [1] - The prestige of the landmark building enhances the property's reputation, creating a positive cycle that maintains favorable rental levels and high occupancy [1] - The current downturn in the real estate market provides a favorable opportunity for acquisition at lower prices, which is expected to yield significant capital gains [1]

Core Viewpoint - Songdu Service (09608.HK) has signed a letter of intent with Greenland Holdings to acquire a property in Hangzhou for RMB 6.65 million, which is seen as a good opportunity for capital preservation and investment due to its prime location and strong market demand [1] Summary by Relevant Sections - **Property Acquisition Details** - The property is located at the 17th floor, unit 1702 of Building 2, Hangzhou Century Center, in the Xiaoshan District of Hangzhou, with a total area of approximately 228.83 square meters [1] - **Investment Rationale** - The asset is situated in a landmark building in a prime location, which provides strong capital preservation and appreciation potential [1] - High occupancy rates and strong liquidity are expected due to significant market demand for both purchase and rental [1] - The reputation of the landmark building enhances the property’s standing, creating a positive cycle that maintains favorable rental levels and high occupancy [1] - **Strategic Advantages** - The property’s location offers strategic advantages for industry communication and collaboration for large listed companies [1] - Anticipated tenant profiles may provide predictable and reliable rental returns, contributing to stable income streams [1] - **Market Conditions** - The current downturn in the real estate market presents a favorable opportunity for acquisition at lower prices, supporting the expectation of capital gains [1] - The property’s robust fundamentals further bolster the outlook for appreciation [1]

Core Viewpoint - Herald Hold plans to purchase a property for HKD 81.5 million, indicating a strategic investment opportunity in the improving Hong Kong residential market [1] Group 1: Property Acquisition - The company’s indirect wholly-owned subsidiary, Xingli Property Limited, intends to buy a property located at 23 Old Peak Road, Block 2, Unit B, for HKD 81.5 million [1] - The property includes a parking space on the LG4 level of the same building [1] Group 2: Current Leasing Situation - The property is currently leased by HMPL to the seller as part of a rental reimbursement plan for Dr. Zhang Zengji, who resides there as part of his compensation [1] - HMPL is familiar with the property's actual condition and its commercial value due to the existing lease agreement [1] Group 3: Market Conditions and Investment Rationale - The board believes that the purchase is an attractive investment opportunity due to recent interest rate cuts and signs of improvement in the Hong Kong residential property market [1] - The acquisition is expected to diversify the company’s investment portfolio [1]

Core Viewpoint - The company has entered into a conditional sale agreement to acquire all issued shares of 卓益, which will enhance its real estate asset portfolio at a reasonable price given the current market conditions [1][2] Group 1: Transaction Details - The sale agreement was made on October 10, 2025, between Easyknit Properties (as the seller) and the company (as the buyer) [1][2] - The acquisition price is approximately HKD 295 million, which is the net amount of outstanding payments expected to be paid to 卓益's ultimate holding company and its subsidiaries on the completion date [1] - 卓益's significant asset includes a property located at 19 Garden Street, Mong Kok, Kowloon, with a total saleable area of 13,544 square feet [1] Group 2: Asset Composition - 卓益's other assets primarily consist of listed equity securities in Hong Kong, including 42,308,000 shares of 百福控股有限公司 valued at approximately HKD 46.3 million as of March 31, 2025 [1] - The 42,308,000 shares of 百福控股有限公司 will be transferred to another wholly-owned subsidiary of Easyknit Properties before completion [1] Group 3: Strategic Implications - The acquisition aligns with the company's core business of property investment and is seen as a strategic move to strengthen its real estate asset portfolio [2] - The company maintains a cautiously optimistic outlook on the Hong Kong real estate and securities market, indicating a commitment to seek suitable investment and divestment opportunities [2] - The terms of the sale agreement were negotiated fairly, and the board believes it is in the overall interest of the company and its shareholders [2]

Group 1 - The company reported a revenue of HKD 27.681 billion from continuing operations for the fiscal year ending June 30, 2025, with a gross profit of HKD 11.626 billion and a core operating profit of HKD 6.016 billion, indicating strong performance and profitability in its core business [1] - In the core real estate segment, the company achieved contract sales of HKD 26 billion, with contributions of HKD 11 billion from Hong Kong and RMB 14 billion from mainland China, where the southern region, led by the Greater Bay Area, accounted for nearly 52% of sales [1] - The company raised its sales target for fiscal year 2026 to HKD 27 billion, reflecting optimism about market prospects and confidence in its sales capabilities [1] Group 2 - The company reported property development revenue of HKD 2.696 billion from Hong Kong and HKD 12.344 billion from mainland China, with segment profits of HKD 0.877 billion and HKD 4.703 billion, respectively [1] - In the investment property sector, rental rates and sales for office buildings and shopping malls in both Hong Kong and mainland China showed steady growth, with recurring income continuing to rise [1] - The company generated HKD 3.234 billion in investment property revenue from Hong Kong and HKD 1.821 billion from mainland China, with segment profits of HKD 2.401 billion and HKD 0.843 billion, respectively [1] Group 3 - The CEO expressed confidence in the company's ability to capitalize on market improvements, driven by declining interest rates and a recovering real estate market, and emphasized the commitment to accelerate sales and cash flow [2]

Core Viewpoint - The company, Jiekou Holdings (00064), has announced the acquisition of ten apartments for a total consideration of HKD 108.9 million, which aligns with its strategic objectives to expand its property investment business [1] Group 1: Acquisition Details - The buyer, Jiekou International Limited and Jiekou (Yinji) Wine Industry Limited, both indirect wholly-owned subsidiaries of the company, entered into a provisional sale and purchase agreement [1] - The apartments are located at 6G, 7G, 8G, 9G, 10G, 11G, 18G, 19G, 20F, and 21F of Block 2, Hong Ye Dao, Huan Chen II, Wong Chuk Hang, with a total net internal area of approximately 5,026 square feet [1] Group 2: Strategic Implications - The acquisition is in line with the company's strategic direction and will help to expand its existing property investment business [1] - The company plans to hold the apartments for investment purposes to generate rental income [1] - The board believes that the terms of the provisional sale and purchase agreement are established on normal commercial terms, deemed fair and reasonable, and in the overall interest of the company and its shareholders [1]

Core Viewpoint - Morgan Stanley's research report indicates that Sun Hung Kai Properties' annual earnings per share remained flat, with dividends meeting expectations and a payout ratio maintained at 50%, resulting in a dividend yield of 4.1% [1] Financial Performance - The company's contract sales for local property development in Hong Kong reached HKD 42.3 billion, compared to HKD 25.6 billion in the same period last year [1] - The property development profit margin decreased to 12%, down from 26% in the previous year [1] - Morgan Stanley anticipates that Sun Hung Kai Properties will record over HKD 30 billion in unrecognized sales for the fiscal year 2026, with a similar profit margin [1] Market Outlook - Despite negative growth in renewal rents, the company maintains a constructive outlook on the Hong Kong office and retail market [1] - For the fiscal years 2026 to 2027, significant revenue growth is expected from investment properties at the Kowloon High-Speed Rail Station and Shanghai Xujiahui Center [1] Investment Recommendation - Morgan Stanley has set a target price of HKD 102.3 for Sun Hung Kai Properties, with a rating of "Overweight" [1]

Core Viewpoint - Hong Kong Ferry (Group) Limited announced a temporary agreement for the acquisition of a property for HKD 260 million, which aligns with the company's strategy to expand its existing property investment business [1] Group 1: Acquisition Details - The buyer, Xingling Investment Limited, a wholly-owned subsidiary of the company, will acquire multiple shops and a signage area located at 55 Chung On Street, Tsuen Wan, Hong Kong, with a total floor area of approximately 12,720 square feet [1] - The acquisition is subject to the terms of the temporary agreement between the buyer and the seller, Minxi International Investment Limited [1] Group 2: Strategic Implications - The board believes that the acquisition will generate rental income and enhance the company's revenue base due to the property's advantageous location in Tsuen Wan and existing leases and franchises [1]

Group 1 - The core point of the article is that Hong Kong Small Wheel (Group) Limited has announced a temporary agreement to acquire a property for HKD 260 million [1] - The property is located at 55 Chung On Street, Tsuen Wan, and consists of multiple shops with a total floor area of approximately 12,720 square feet [1] - The acquisition aligns with the company's strategy and represents an expansion of its existing property investment business [1] Group 2 - The board believes that the acquisition will generate rental income and enhance the company's revenue base due to the property's advantageous location and existing leases [1]

Core Viewpoint - Meirui Health International (02327.HK) expects a significant increase in shareholder profit for the six months ending June 30, 2025, projecting between approximately HKD 14 million to HKD 16 million, compared to approximately HKD 8.2 million for the six months ending June 30, 2024 [1] Group 1: Profit Expectations - The anticipated increase in profit is primarily due to growth in property-related business revenue and profit, driven by increased rental income and stable fair value of investment properties [1] - The fair value of investment properties experienced a significant decline for the six months ending June 30, 2024, contrasting with the stability expected for the upcoming period [1] Group 2: Revenue Sources - The company has benefited from utilizing idle funds to provide short-term interest-bearing loans and long-term revolving financing to clients and related parties, resulting in increased interest income [1] - However, this positive impact is partially offset by a challenging domestic operating environment, leading to a decrease in trade sales and revenue from health and medical-related products [1]