Core Viewpoint - Link REIT celebrates its 20th anniversary of listing, marking significant growth and commitment to creating value for stakeholders in the real estate investment sector [3][4][10] Group 1: Company Growth and Development - Since its listing in 2005, Link REIT has evolved from a single market and asset type to a leading real estate investor and manager in the Asia-Pacific region, managing 154 properties across five regions, including Hong Kong, mainland China, Australia, Singapore, and the UK [4] - The property portfolio value has reached HKD 222.9 billion, growing nearly sixfold over the past 20 years [4] - Link REIT has launched a fund management business, marking a strategic transformation to manage a more comprehensive real estate investment platform [4] Group 2: Commitment to Sustainability - Link REIT is the largest private operator of public electric vehicle charging networks in Hong Kong, providing over 3,000 charging facilities [7] - The company is also one of the largest private solar power operators in Hong Kong, with 58 solar power facilities generating approximately 4.2 million kilowatt-hours annually [7] - Link REIT has signed over 4,600 green leases with tenants to encourage reductions in energy, water, and waste consumption, achieving a 46.1% reduction in electricity usage since 2010 [7] Group 3: Community Investment and Social Responsibility - Through the "Love. Gather Plan," Link REIT has invested over HKD 174 million since 2013 to support over 200 community projects, benefiting more than 20 million people [8] - The company has awarded over 2,000 scholarships to outstanding local university students from first-generation families, promoting social mobility [8] - Link REIT has launched the "Link REIT 20th Anniversary Outstanding Student Scholarship" to recognize 100 high school students for their academic and social service achievements [8] Group 4: Future Outlook - As Link REIT celebrates its 20th anniversary, it remains committed to creating long-term commercial and social benefits, enhancing community connections and improving quality of life [10]

Core Viewpoint - Link REIT demonstrates resilience in its interim performance for the six months ending September 30, 2025, despite facing significant macroeconomic challenges and a complex market environment [1][2]. Financial Performance - Total revenue and property net income decreased by 1.8% and 3.4% year-on-year, reaching HKD 70.23 billion and HKD 51.78 billion, respectively, primarily due to negative rental adjustments in Hong Kong and mainland China [8]. - The total distributable amount fell by 5.6% year-on-year to HKD 32.83 billion, with the distribution per fund unit down by 5.9% to HKD 1.2688 [8]. - The net debt ratio remained low at 22.5% as of September 30, 2025 [8]. Property Performance - The retail property portfolio maintained a stable occupancy rate of 97.6%, reflecting effective asset management strategies [6][11]. - The rental adjustment rate for renewals was negative 6.4%, with retail sales declining by 2.1% year-on-year [11]. - In mainland China, the retail property portfolio's occupancy rate remained high at 95.9%, despite a negative rental adjustment rate of 16.4% [9]. Regional Insights - Hong Kong's retail sector shows signs of recovery, although the full realization of rental income will take time [11]. - The Australian retail property portfolio saw a rental adjustment rate of 16.3% and an occupancy rate of 98.1%, with tenant sales increasing by 15.3% year-on-year [14]. - Singapore's retail assets maintained strong performance with occupancy rates at 99.8% and a rental adjustment rate of 12.9% [14]. Capital Management - The company benefits from a solid capital base and liquidity, with a slight increase in the debt ratio to 24.1% as of September 30, 2025 [16]. - The total debt amount rose to HKD 55 billion, with fixed-rate debt comprising 65.8% of total debt [16]. - The average borrowing cost decreased from 3.58% to 3.22% [16].