Core Viewpoint - The company reported a modest growth in revenue and recurring profit for the first half of the fiscal year, driven by stable performance in its core business segments and improved sales [1] Financial Performance - The company's revenue for the six months ending June 30, 2025, was HKD 1.73 billion, representing a year-on-year increase of 2.2% [1] - Recurring basic profit was HKD 1.03 billion, up 1.2% compared to the previous year [1] - The reported profit was HKD 75 million, a significant decrease from HKD 427 million in the same period last year [1] - Basic earnings per share were HKD 0.07, with a proposed interim dividend of HKD 0.27 per share [1] Business Segments - The resilience of the Hong Kong retail business contributed to the revenue growth, supported by portfolio optimization and improved sales performance [1] - The office rental rate increased from 90% to 92%, which helped mitigate the impact of rental price reductions [1] - Strong expansion in Shanghai and a recovery in rental rates at Zhulin Garden since last year also contributed to the overall revenue and profit growth during the period [1] Operational Impact - Approximately 4% of the retail space was closed due to significant optimization works in the Liyuan area, and this impact has been reflected in the retail revenue [1]