Core Viewpoint - The company reported a mixed performance for the first half of 2025, with increased property sales revenue but declining sales profit due to market weakness and discounting strategies [2][3][4]. Group 1: Financial Performance - The company achieved a revenue of HKD 25.386 billion, representing a year-on-year growth of 15.3% [2]. - Shareholder profit was HKD 6.302 billion, a decrease of 26.7% compared to the previous year, with a loss of HKD 0.503 billion from the revaluation of investment properties [2]. - Property sales revenue reached approximately HKD 7.366 billion, a significant increase of 58.92% from HKD 4.635 billion in the same period last year [3]. Group 2: Market Dynamics - The company adopted a strategy of offering discounts to stimulate sales amid cautious market sentiment, leading to a decline in sales profit despite increased revenue [4][5]. - In the Hong Kong market, property sales revenue increased by 7.77%, but sales profit plummeted by 92.91% from HKD 1.044 billion to HKD 0.074 billion [4]. - The company is focusing on clearing inventory, which is expected to continue influencing pricing strategies [8]. Group 3: Future Outlook - The company anticipates a significant increase in revenue in the second half of 2025, with approximately HKD 28.553 billion in signed but unrecognized property sales expected to contribute around HKD 22.898 billion in revenue [9]. - The company holds a land reserve of approximately 67 million square feet, with expectations for stable profit contributions from property development in the coming years [9]. - The company is exploring new investment opportunities, particularly in commercial and retail properties in Hong Kong, leveraging its financial strength and low capital debt ratio [10][11].