Core Viewpoint - The company reported a decline in total revenue for the first half of 2025, while net profit increased significantly, indicating mixed performance in different segments of its operations [1] Financial Performance - Total revenue for the first half of 2025 was HKD 27.36 billion, a decrease of 6.5% year-on-year [1] - Net profit attributable to shareholders was HKD 7.71 billion, an increase of 27.5% year-on-year, with earnings per share at HKD 1.24 [1] - The interim dividend per share remains unchanged at HKD 0.42 [1] Segment Performance - Revenue from Hong Kong passenger services increased by nearly 2.6% to HKD 14.13 billion, but profit contribution fell by nearly 18% to approximately HKD 1.9 billion [1] - Revenue from operations rose over 3% to HKD 11.5 billion, yet profit plummeted over 76% to HKD 98 million [1] - Revenue from station commercial activities decreased by over 5% to nearly HKD 1.8 billion [1] Passenger Volume - Total passenger volume for rail and bus services was approximately 964 million, a year-on-year increase of 0.7% [1] - Local rail service passenger volume was 786 million, a slight decline of 0.2% year-on-year [1] - High-speed rail (Hong Kong section) and intercity passenger volume increased by over 16% to 14.7 million, while airport express passenger volume rose by over 2% to 6.4 million [1] Pricing Strategy - The company announced that ticket prices for the 2025/26 fiscal year will remain unchanged, with a calculated adjustment of 1.45% to be applied in the 2026/27 fiscal year [1] - The previously planned adjustment of 1.91% has also been postponed to the next fiscal year [1]