Core Viewpoint - The overall environment remains challenging, and the company will continue to monitor market trends to implement appropriate strategies to maintain and stabilize performance [1] Group 1: Financial Performance - For the first half of the year, the company reported a distributable income of HKD 476 million, a year-on-year decrease of 12.6% [1] - Total rental income amounted to HKD 1.029 billion, down 7.6% year-on-year, while net property income was HKD 859 million, a decline of 10% [1] - The company maintained a healthy debt-to-asset ratio of 24.5% as of June 30 [3] Group 2: Rental Strategy and Tenant Management - The company aims to maintain high occupancy rates and rental income by using flexible lease terms and actively seeking quality new tenants [1] - The occupancy rate of the flagship property, Langham Place, remains at 99.2%, with a recent increase to 100% following the opening of a new ramen shop [1][2] - The company has secured a new restaurant group to replace a long-standing tenant, with the new rental level expected to be higher [2] Group 3: Market Trends and Future Outlook - The retail market faces challenges, but there is a focus on enhancing customer experience, which includes attracting lifestyle and gadget stores [2] - The office building at Garden Road has an occupancy rate of 80.7%, down 1.9 percentage points, but the renewal rate for expiring leases remains high [3] - There has been an increase in inquiries from financial clients due to a recovering Hong Kong stock market, leading to a double-digit increase in viewings for the office space [3]