Core Viewpoint - Leading real estate companies are actively constructing a closed-loop ecosystem that integrates "non-heritage IP excavation + community scene embedding + lifestyle cultivation," reflecting a strategic transformation in response to cultural confidence, consumer quality upgrades, and sustainable development [5][28]. Group 1: Innovative Application of Non-Heritage Design Elements - The innovative application of "non-heritage" design elements in residential projects transcends mere aesthetic decoration, becoming a key pathway for the real estate industry to respond to cultural confidence awakening and consumer quality upgrades [5]. - This practice effectively activates the contemporary vitality and practical value of endangered traditional crafts, deeply shaping the unique cultural temperament of communities and significantly enhancing residents' cultural identity and sense of belonging [5]. Group 2: Case Studies of Non-Heritage Integration - The "Poly Bund Sequence" project in Shanghai is the first residential development to integrate "non-heritage craftsmanship" with "low-carbon prefabricated technology," recognized as Shanghai's first "non-heritage historical preservation residential" project [7][8]. - The project features the meticulous replication of the intangible cultural heritage "cement roughening with embedded pebbles," involving 11 processing steps and requiring approximately 80 kg of pebbles per cubic meter of wall surface [7]. - The "Poly Haiyan Tianjun" project in Ningbo transforms traditional crafts like Ningbo bamboo weaving and gold and silver embroidery into modern design elements, creating a cultural backdrop for the community [10][11]. - The "Dongwangfu" project in Wuxi draws inspiration from classical gardens, employing traditional craftsmanship to create a unique spatial layout, showcasing living heritage in contemporary residential design [20][22]. Group 3: Cultural and Community Development - Leading real estate companies are building a model for cultural preservation, urban organic renewal, and effective community governance through the integration of non-heritage IP and community development [28]. - The empowerment effect of non-heritage IP on communities has extended from architectural texture to community operation, marking a significant shift towards a new era driven by "cultural depth" and "spiritual value" [28]. - Culture has become a core capital defining the future of residential living, emphasizing the importance of cultural identity in community development [28].

Core Viewpoint - Swire Properties (1972.HK) reported strong mid-year results for 2025, with revenue of HKD 87.23 billion, a 20% year-on-year increase, and a net profit attributable to shareholders of HKD 44.2 billion, up 15% [1] Group 1: Financial Performance - The company achieved a basic earnings per share of HKD 0.76 and declared an interim dividend of HKD 0.35 per share [1] - Despite a 4% decrease in recurring net profit attributable to shareholders, from HKD 35.7 billion in the first half of 2024 to HKD 34.2 billion in the first half of 2025, the overall performance remained robust [1] Group 2: Market Conditions - The retail market in Hong Kong showed weakness due to increased outbound tourism, changing consumer habits, and economic uncertainty from U.S. tariff policies [1] - However, Swire Properties' shopping malls maintained high occupancy rates, with retail sales rebounding in the second quarter, outperforming the market [1] Group 3: Mainland China Operations - In mainland China, government measures and policy relaxations positively impacted retail sales, with notable occupancy rates and sales growth in key locations: - Beijing Sanlitun Taikoo Li: 99% occupancy, 6.8% sales growth - Shanghai Xinyi Taikoo Hui: 94% occupancy, 13.5% sales growth - Shanghai Qiantan Taikoo Li: 98% occupancy, 4.0% sales growth [2] - Swire Properties has committed to investing HKD 100 billion over the next decade in core markets, with 50% allocated for mainland investments [2] Group 4: New Projects and Developments - The company is set to commence construction on the largest Taikoo Li project in Xi'an in November 2023, aiming for completion in 2027 [3] - The Taikoo Place project in Beijing is expected to start completion in mid-2026, focusing on sustainability and community development [3] - Swire Properties acquired stakes in two companies from Lujiazui Group for HKD 9.70997 billion to develop new landmark projects in Shanghai [3] - The company is also advancing projects in the Greater Bay Area, including the expansion of Guangzhou Taikoo Hui and the first Taikoo Li project in Liwan District [4]

Group 1 - The core viewpoint of the article highlights that Swire Properties reported a strong performance for the first half of 2025, with revenue reaching HKD 87.23 billion, a 20% year-on-year increase, and a 15% rise in shareholder profit to HKD 44.2 billion [1] - The company plans to focus on enhancing shareholder value through capital flow strategies and reallocating funds to high-growth potential markets, including Hong Kong, mainland China, and Southeast Asia [1] - Retail sales in mainland China showed signs of stabilization, with rental income from investment properties totaling HKD 30.73 billion, remaining stable compared to the same period in 2024 [1] Group 2 - Swire Properties has initiated a HKD 100 billion investment plan, with 67% of the funds already allocated, primarily targeting Hong Kong, mainland China, and Southeast Asia [2] - The company plans to invest HKD 50 billion in the mainland market, with 92% of this already secured, focusing on large-scale development projects such as Lujiazui Swire Source and the expansion of Qiantan Swire [2] - Swire Properties is enhancing its commitment to sustainable development and community building in projects like Beijing Taikoo Li, while also advancing innovative retail projects in Sanya and establishing a retail-focused Taikoo Li project in Xi'an [2]