Wu Tianhai: The impact of large shipping companies adjusting their routes has not yet emerged, which may be unfavorable for the prospects of Hong Kong's shipping industry.

On May 13, Peter Woo, chairman and executive director of Wharf Real Estate Investment Company Limited (00004), stated that the progress of the preliminary agreement reached between China and the US is faster than expected. He openly said that there are no winners in a trade war, and various industries are all affected differently. The shipping industry in Hong Kong is also affected by the overall environment and is currently in a transition period. Large shipping companies had already adjusted their routes before the trade war, so the impact has not yet surfaced, which will not be favorable for the future prospects of the Hong Kong shipping industry. Regarding the property market in Hong Kong, he pointed out that with the recent improvement in the stock market and more new listings coming to Hong Kong, the atmosphere in the ultra-luxury market has improved. He also mentioned that in the ultra-luxury market, "there are few buyers and few sellers," so the group will not rush to sell. As for mid-sized units, it depends on location, supply, and pricing, and he described this year's property market as having "opportunities." He also noted a preliminary proposal in mainland China that developers can only sell new properties of existing projects. He believes that the industry needs to readjust and address issues related to funding without the pre-sale of properties. He hopes that the property market in mainland China can gradually recover and develop healthily. He also mentioned that the occupancy rate of their luxury hotels in China has remained similar to last year, but with a slight decrease in average room rates.