Financial Data and Key Metrics Changes - The underlying profit for the company was $5.5 billion, and the recurring underlying profit was $4.7 billion, remaining close to the prior year [10][12] - Statutory profits decreased to $815 million due to changes in the value of investment properties [10] - The company declared a 4% increase in ordinary dividend per A share to HKD 130 [7][10] Business Line Data and Key Metrics Changes - The Property division saw a 15% growth in underlying profit, driven by higher disposal gains, while recurring profit was down 4% [15][16] - In Beverages, revenue from the Chinese Mainland increased by 3%, with EBITDA margin improving to 12.8% [22][26] - Aviation division's recurring profit increased by 40%, with Cathay Pacific's passenger revenue up 14% [28][29] Market Data and Key Metrics Changes - The retail market in the Chinese Mainland is performing well, offsetting softness in the Hong Kong office market [8][20] - The Chinese Mainland's attributable gross rental income has shown a healthy CAGR of 11% from 2016 to 2024 [20] - Revenue from the Chinese Mainland and Hong Kong grew, while revenue declined slightly in Taiwan and Vietnam due to market challenges [26] Company Strategy and Development Direction - The company is committed to investing HKD 100 billion over the next ten years, with 67% of that already committed [3][16] - There is a strong pipeline of projects in the Chinese Mainland, with several major developments underway [17][20] - The company is focusing on sustainability, with significant investments in renewable energy across its core divisions [13] Management's Comments on Operating Environment and Future Outlook - The management expects continued uncertainty in core markets, particularly in Hong Kong's office sector and Southeast Asia's beverage market [34][35] - The aviation sector is anticipated to maintain robust travel demand, while cargo market conditions remain uncertain [36] - The company is optimistic about the performance of its healthcare investments, particularly in Indonesia and Shanghai [32][51] Other Important Information - The company has completed significant land sales in Miami, contributing to its capital recycling strategy [15] - The beverage division is expanding production capacity with new plants in China and Vietnam [6][21] Q&A Session Summary Question: Regarding beverage ASP growth in Mainland China and outlook - Management noted that revenue grew by 3% and profit by 8% in the Chinese Mainland, driven by pricing initiatives, with a positive sparkling growth rate of 2.7% [40][41] - The company remains cautious about the outlook in China, focusing on long-term strategic initiatives to adapt to consumer trends [42] Question: On Southeast Asia challenges and share buyback plans - Management acknowledged the challenges in Southeast Asia but did not provide a specific timeline for a turnaround [39] - The share buyback program was completed, with a focus on long-term strategic investments over short-term solutions [43][44] Question: Strategic outlook for the next three to five years - The company has a strong pipeline of investments across core divisions, particularly in aviation and property, with a focus on the Chinese Mainland [49][50] - In healthcare, the company is taking a cautious approach, focusing on existing investments before pursuing new opportunities [52]

Core Viewpoint - The Xi'an Market Supervision Administration's Qujiang New District branch conducted a food safety inspection, revealing that all 30 sampled batches of various food products met safety standards, with no non-compliant batches reported [3][4]. Group 1: Inspection Overview - A total of 30 batches from 13 categories of food products were sampled, including biscuits, nuts, condiments, honey products, alcoholic beverages, grain products, dairy products, edible agricultural products, oils, snacks, seafood, fruit products, and beverages [3][4]. - The inspection results showed that all 30 batches were compliant with national food safety standards, indicating a 100% pass rate [3][4]. Group 2: Product Categories and Compliance - The breakdown of compliant samples includes: - Biscuits: 1 batch - Nuts and fried foods: 2 batches - Condiments: 1 batch - Honey products: 2 batches - Alcoholic beverages: 2 batches - Grain products: 3 batches - Dairy products: 3 batches - Edible agricultural products: 6 batches - Oils and fats: 1 batch - Snacks: 2 batches - Seafood: 1 batch - Fruit products: 1 batch - Beverages: 5 batches [3][4].