Core Viewpoint - The report from Credit Lyonnais indicates that the basic profit of the company increased by 1.2% year-on-year in the first half of the year, aligning with the interim dividend [1] Group 1: Financial Performance - Despite a decline in rental income, the company's recurring income remained stable due to robust growth in bar operations and infrastructure projects [1] - The target price for the company has been raised from HKD 31.3 to HKD 34.1, while maintaining a "Hold" rating [1] Group 2: Future Outlook - It is believed that the profit drag from residential properties in Hong Kong will decrease starting in 2026, as the company plans to launch major projects by the end of 2025 [1] - Sufficient provisions have been made for these projects, including Blue Coast and Flower Language Sea, which are both high-cost land projects [1]

打破香港人居桎梏，平衡都市与自然 城市的每次蜕变都伴随着居住形态的革命，更丰富多元的城市文化内涵的挖掘和梳理，更高品质的城市 公共空间的重塑和焕新，必然要求配备更能代表全球居住理念的高品质住宅。维港都会公园圈内全新住 宅项目"花语海"，第1期及第2期共723伙即将重磅登场。 一直以来，香港居住给人的印象要么是价格贵到离谱，要么就是局促窘迫的生活空间，即使是市区高端 项目，也只是螺蛳壳里做道场。启德大片区建设起来之后，不管是启德地铁站附近还是处于启德机场跑 道区的住宅项目，微观环境依旧"良莠不齐"，有的出行不便、生活氛围欠佳，有的视线受阻，看不到维 港风景。有的绿化有欠缺，受困于建筑群的视觉压迫。这种顾此失彼的空间焦虑感始终挥之不去。 作为连接香港过去与未来的世界一流滨水城区，维港都会公园圈不仅见证城市的又一次起飞，也重新定 义了香港的居住标准。因为归根结底，城市是人的城市，是人生活的地方，人类一切的创造，都是为了 美好的生活。 所以，当一个项目贴上文化、滨海、公园等标签时，已是毫无疑问的顶尖人居品相。人们需要考虑的问 题，往往不是它够不够好，而是起笔香港未来人居新篇，它凭什么？ "花语海"的破局之道，在于将人 ...

城市向水而生，因水而发展。19世纪中期，上海开始了它依附于黄浦江而起的城市文明，一座东方滨水 之城也由此兴起。如今，上海展开了新一轮的城市更新运动，伴随着"一江一河"战略性规划的浩浩铺 展，顺着黄浦江直流南下，在中央活动区前滩，一场极为成功的滨水复兴在这里上演。 当下的城市更新从产业、人居、生态等多方面入手，更注重城市整体空间的重塑和焕新，挖掘丰富、多 元的城市价值和文化内涵。所以前滩的建设高瞻远瞩，从一开始就着眼于顶层设计作了前瞻性的规划， 选择以东方体育中心圈为能量核心，建设成为以生态体验、文化艺术、健康宜居为主导的21世纪海派生 活实践区，达到区位、功能、居住、环境的完美融合。 城市规划专家简·雅各布斯在《美国大城市的死与生》这本书里曾提出，判断城市空间好坏的唯一标 准，就是这个空间是不是充满生机、充满活力。 滨水复兴，则是全世界大都市的空间演化史中绕不过去的话题，它们已成为城市发展的核心命题。从巴 黎塞纳河畔到伦敦金丝雀码头，从新加坡滨海湾到上海黄浦江岸，滨水区不仅是城市空间现代化的试验 场，更是高品质生活的代名词。位于维港都会公园圈的高端住宅项目"花语海"，正是这一全球趋势的缩 影。作为维港滨水更新 ...

Core Insights - The Kai Tak Sports Park in Hong Kong, which officially opened in March, will host significant events such as the 2025 Snooker World Grand Prix and the Hong Kong International Rugby Sevens, marking a transformation of the area from an old airport to a new urban center [1][2] - The development of the Kai Tak area, including the sports park, the largest urban park in Hong Kong, and the new residential project "Flower Sea," signifies a new urban energy core that redefines Hong Kong's future lifestyle and injects new momentum into urban development [1][2][4] Group 1: Development Overview - The Kai Tak Sports Park, with an investment exceeding HKD 30 billion, is a centerpiece of the Kai Tak development plan initiated in 2007, which includes various core projects such as parks, hotels, and residential areas [2][4] - The area is designed to be a "city engine" for Hong Kong's future, showcasing a new development philosophy and continuing to lead the city’s upward trajectory [2][4] Group 2: Urban Features - The Victoria Harbour Metropolitan Park Circle, which includes the Kai Tak Sports Park, the largest urban park, and the upcoming "Flower Sea" residential project, creates a unique combination of sports, ecological leisure, and high-end living [4][5] - The "Flower Sea" project, featuring 723 high-end residential units, is positioned as a key element within this urban park circle, offering proximity to cultural, sports, and waterfront resources [5][8] Group 3: Economic Impact - The development is expected to enhance Hong Kong's attractiveness for businesses, with over 500 companies expanding or establishing operations in the region, reflecting a 50% increase compared to the previous year [17] - The area has seen a significant rise in property values, with residential prices in similar high-demand areas increasing from HKD 80,000 per square meter in 2015 to around HKD 200,000 per square meter recently, indicating strong investment potential [19]