Group 1 - The core viewpoint of the report indicates that the technology sector is the main driver of leasing transactions in Beijing's Grade A office market, accounting for 34% of the total transaction area in the first half of the year [1][2] - The vacancy rate of Grade A office buildings in Beijing decreased by 0.2 percentage points quarter-on-quarter by the end of Q2, indicating a slight recovery in market demand [1] - The report highlights that the supply of Grade A office buildings in Beijing is limited, with a significant project delayed until the end of 2026, which may impact future market dynamics [1] Group 2 - The report notes that the Zhongguancun area experienced the largest decline in vacancy rates, dropping by 3.2 percentage points, reflecting strong demand from the technology sector [2] - It is projected that 2026 will be a peak year for office supply in Beijing, with an expected addition of 757,000 square meters, including four projects in the CBD area providing a total of 409,000 square meters [2] - Major companies like ByteDance have contributed significantly to leasing activity, with new leases in various locations supporting market activity in the Zhongguancun and Asia-Olympic regions [1]