7月14日，信达地产（600657.SH）发布2025年半年度业绩预告。 根据公告，信达地产预计2025年上半年归属于母公司所有者的净利润亏损35亿元至39亿元，较2024年同 期的出现大幅下降。扣除非经常性损益后的净利润同样预计亏损，金额在34.2亿元至38.2亿元之间。 导致本期预亏的主要原因包括房地产开发项目交付规模减少，影响营业收入和毛利率同比下降，以及部 分房地产开发项目及对外财务性投资存在减值迹象，公司相应计提减值准备。（智通财经记者 李晓 青） ...

2025年中期业绩摘要： 财务表现 恒隆集团及恒隆地产的总收入分别下跌18%及19%至港币52.02亿元及港币49.68亿元，主要受物业销售 收入减少影响。 恒隆业务保持稳定，收入亦持续改善。核心物业租赁收入表现稳健，仅下跌3%。恒隆集团及恒隆地产 的内地商场整体租出率保持在94%的高水平；香港零售物业整体租出率分别为93%及94%，主要得益于 租户信心充足及品牌组合持续优化。 恒隆集团及恒隆地产的股东应占基本纯利分别下跌7%及9%至港币11.91亿元及港币15.87亿元，主要由 于财务费用上升所致。 我们通过改善租户组合的策略、推出具影响力的市场营销活动，以及恪守审慎的财务管理原则，并在中 央政府利好消费政策的支持下，进一步巩固核心竞争力。为庆祝恒隆成立65周年，我们在全国举办一系 列活动及推广，不仅带来可观的客流量，也加强了与顾客的联结。我们下一个增长引擎——杭州恒隆广 场将按计划于2025年下半年起分阶段落成，为业务前景注入新动能。 我们与百大集团签订了为期20年的营运租赁合同，租用杭州百货大楼的南北两座大楼。若该交易获得百 大集团股东批准，杭州恒隆广场将新增约42,000平方米的零售面积，较现有规模提 ...

Hang Lung Properties Limited (00101) H1 2025 Earnings Call July 30, 2025 12:30 AM ET Company ParticipantsJoyce Kwock - GM - IRAdriel Chan - ChairWeber Wai Pak Lo - CEOKenneth Ka Kui Chiu - CFORaymond Liu - Director - Real Estate ResearchKarl Chan - Executive Director - Equity ResearchCindy Li - Wealth Relationship ManagerMark Leung - Director - Equity ResearchJoyce KwockGood afternoon, ladies and gentlemen. My name is Joyce Kwok, and I'm the General Manager of Investor Relations at Hanlong. Welcome to the a ...

恒隆地产(00101)发布公告，该公司将于2025年9月24日派发中期股息每股0.12港元。 ...

2025 Interim Results Presentation July 2025 Contents 47 Appendix Please scan or click on the QR codes to view 2025 Interim Results Announcement 2025 Interim Results Investor Presentation 2Hang Lung Properties Limited 3 2025 Interim Results Highlights 20 Development Highlights 27 ESG Highlights 38 Mainland China Portfolio 42 Hong Kong Portfolio 48 HLP – Financial Highlights and Position 51 HLG – Financial Highlights and Position 2025 Interim Results Highlights Hang Lung Properties (101.HK) | | | | Operating ...

Core Viewpoint - Hang Lung Properties (00101.HK) reported a significant decline in total revenue for the first half of 2025, primarily due to a sharp drop in property sales revenue and ongoing challenges in the rental market [1] Financial Performance - Total revenue for the six months ending June 30, 2025, was HKD 4.968 billion, a decrease of 19% compared to the same period last year [1] - Property sales revenue fell by 87% to HKD 161 million, contributing to the overall revenue decline [1] - Operating profit decreased by 5% to HKD 3.255 billion, reflecting the impact of reduced rental income [1] Rental and Hotel Operations - Rental income and operating profit both declined by 3%, amounting to HKD 4.678 billion and HKD 3.346 billion, respectively, due to a slowdown in consumer spending and weak demand for office space in Hong Kong and mainland China [1] - Revenue from the hotel segment increased by 84% to HKD 129 million, although the operating loss after depreciation rose to HKD 34 million [1] Profitability Metrics - Shareholders' basic net profit decreased by 9% to HKD 1.587 billion, primarily due to lower rental operating profit and increased financial expenses [1] - Basic earnings per share fell to HKD 0.33 [1] - After accounting for a net revaluation loss of HKD 675 million on properties, the company recorded a shareholders' net profit of HKD 912 million, with corresponding earnings per share of HKD 0.19 [1] Dividend Announcement - The board of directors announced an interim dividend for the 2025 fiscal year of HKD 0.12 per share, to be distributed to shareholders listed on the register as of August 15, 2025 [1]

智通财经7月30日电，恒隆地产上半年实现营收49.7亿港元，净利润9.12亿港元。 ...

Investment Rating - The report maintains a "Recommendation" rating for the real estate sector [2] Core Insights - The real estate index increased by 4.1% in the 30th week, ranking 7th among 31 primary industry sectors [8][10] - New housing and second-hand housing transactions showed a slight increase, with new housing transactions up by 16% week-on-week and second-hand housing transactions up by 2% [5][21] - The report emphasizes the importance of effective policies and fiscal measures to stabilize the market, particularly focusing on urban renewal and the adjustment of housing loan policies [13][28] Summary by Sections Industry Basic Data - Total number of stocks: 107 - Total market value: 1,205.52 billion - Circulating market value: 1,153.12 billion [2] Sales Performance - New housing transaction area in 20 cities was 1.57 million square meters, with a year-on-year decrease of 13% [18] - Second-hand housing transaction area in 11 cities was 1.87 million square meters, with a year-on-year decrease of 2% [21] Policy News - Chengdu announced measures to promote stable development in the real estate market, including the gradual lifting of housing sales restrictions and adjustments to housing provident fund loan rules [13][15] - Shanghai released new residential design standards to enhance safety, comfort, and sustainability [5][13] Investment Strategy - The report suggests focusing on companies with strong product moats and stable rental income from quality commercial real estate [28] - Key companies to watch include Greentown China, China Resources Land, Swire Properties, and Beike-W [28]

Core Viewpoint - The report by JLL highlights the recovery and stabilization of the real estate market in the Greater Bay Area's mainland cities, driven by policy easing and financial support for developers [1][3]. Residential Market Summary - In the first quarter, the overall sales figures and prices of new residential properties performed well, but the market sentiment weakened in April due to the instability caused by the trade war, leading to a cautious buyer attitude [3][4]. - Overall new residential sales in the Greater Bay Area increased by 3% year-on-year in the first half of the year [3]. - The average monthly new residential transactions are expected to reach 27,000 to 28,000 in the second half, with an annual total projected at around 300,000 units; however, there is a potential price decline of up to 5% for the year [4]. Commercial Property Investment Summary - The attitude of property owners has shifted to a more pragmatic approach, with industrial logistics transactions accounting for over 50% of the market in the first half of 2025, including significant deals in large logistics asset packages [3][5]. - The community commercial sector is gaining traction, with stable rental yield projects attracting investor interest, suggesting a potential increase in quality commercial asset transactions in the second half of the year [3][5]. - The logistics and commercial sectors are expected to outperform other segments, driven by strong demand from the expanding cross-border e-commerce market [4][5]. Market Outlook - The easing of demand-side policies and the construction of quality housing are anticipated to release pent-up demand for both rigid and improved housing [3]. - The implementation of special bond storage and acquisition of residential properties is expected to alleviate financial pressures on developers and promote a balance between supply and demand in the real estate market [3]. - Despite the anticipated recovery, market confidence is expected to take time to restore, with ongoing uncertainties likely to maintain a cautious atmosphere into the third quarter [4].

Investment Rating - The report maintains a cautious outlook on the Chinese real estate market, predicting a decline in sales and prices, with a potential bottoming out in Q4 2024 [7][8]. Core Insights - The Chinese real estate market is experiencing significant challenges, with a 2.9% year-on-year decline in new home sales expected to worsen in June 2024 [1][3]. - The inventory of new homes remains high, averaging 24 months across 70 cities, with second and third-tier cities facing particularly severe pressure [1][5]. - The shopping center market is undergoing positive consolidation, with leading operators like CR Land expanding market share through acquisitions and a light-asset model [2][9]. Summary by Sections Real Estate Market Overview - The report highlights a 3.8% year-on-year decline in national real estate sales, with top developers experiencing an 11% drop in sales in the first half of the year [3][4]. - Land sales in 300 key cities have decreased by over 6%, marking a 15-year low [4]. Housing Inventory and Prices - New home prices have been on a downward trend, with a 4% year-on-year decline in May and an 11% drop in second-hand home transaction prices in June [6][8]. - The report anticipates that new home sales will hit a low of 8.4 trillion RMB in 2025, with a reduction in new construction and completion areas [8]. Shopping Center Market Dynamics - The shopping center sector is seeing growth, with over 6,300 centers operational by 2024, primarily in lower-tier cities [9]. - CR Land's same-store sales growth significantly outpaces competitors, achieving a 16% increase compared to 8-9% for others [9][10]. Future Projections - By 2040, CR Land plans to expand its heavy-asset shopping center count by 90%, reaching 174 centers [10][18]. - The report predicts that the real estate market will stabilize in early 2026 for first-tier cities and late 2026 for second-tier cities [8]. Property Management Sector - In 2024, 74% of property management revenue will come from basic management services, with a significant decline in value-added services from developers [21][22]. - Leading companies are focusing on third-party expansion to drive future growth, with a notable decrease in reliance on parent company support [22][25]. Shareholder Returns - The property management industry is characterized by strong cash reserves, with many companies increasing dividends and share buybacks to enhance shareholder returns [27].