In the first half of the year, Swire Properties reported a profit attributable to shareholders of HK$7.843 billion, an increase of 43% year-on-year.

SWIRE PACIFIC A (00019) and SWIRE PACIFIC B (00087) announced their mid-term results for 2026. The group achieved revenue of HK$49.446 billion, an increase of 8% year-on-year; the shareholders' basic profit attributable to shareholders reached HK$7.843 billion, up 43% year-on-year; the profit attributable as reflected in the financial statements was HK$6.769 billion, a stunning increase of 731%; the interim dividend is HK$1.5 per share for 'A' shares and HK$0.3 per share for 'B' shares. The real estate sector delivered strong performance, benefiting from solid retail sales and a favorable real estate transaction environment. The beverage sector showed improved performance, especially in the Mainland China market. In the aviation sector, Hong Kong Aircraft Engineering Company performed well, while Jiangxi Guotai Group faced pressure from rising aviation fuel prices in the second quarter of 2026, but had an excellent start at the beginning of the year. In the first half of 2026, the shareholders' basic profit (excluding changes in fair value of investment properties) increased to HK$7.843 billion, compared to HK$5.476 billion in the first half of 2025. This growth was primarily driven by profits from residential transactions and the strong performance of Jiangxi Guotai Group in the first half. The results also benefited from non-recurring income related to Jiangxi Guotai Group, including proceeds of HK$318 million from the placement of shares of CATHAY PAC AIR in March 2026 and a gain of HK$646 million arising from the dilution of Jiangxi Guotai Group's equity in Air China following the issuance of shares by Air China in June 2026. The proceeds from property sales decreased. Excluding the aforementioned and other non-recurring items, the recurring basic profit rose from HK$4.712 billion in the first half of 2025 to HK$6.962 billion. The profit attributable shown in the financial statements (including changes in fair value of investment properties and non-recurring items) was HK$6.769 billion, compared to HK$815 million in the first half of 2025. I sincerely thank all those who contributed to the group's excellent performance in the first half of the year. SWIRE PROPERTIES' HK$100 billion investment plan provides a clear framework for its long-term growth, with nearly 70% of the funds already invested. SWIRE PROPERTIES continues to invest in its flagship development projects in Hong Kong. Regarding Taikoo Place, SWIRE PROPERTIES recently successfully acquired a prime plot of land, helping the area to continue its expansion and enhancement, and demonstrating its long-term commitment to Hong Kong. In Mainland China, Taikoo Li in Beijing and Taikoo Li in Sanya are expected to open in phases starting at the end of 2026. The project for Taikoo Li in Guangzhou, located in the Greater Bay Area, is advancing to the next phase of construction. In Shanghai, the project for Qiantan Plaza is underway, which is part of the expansion of Qiantan Taikoo Li's office building section. Construction works are also ongoing for Shanghai Lujiazui Finance & Trade Zone Development's Taikoo Source and Taikoo Li in Xi'an. These development projects showcase the scale and ambition for the next phase of growth for SWIRE PROPERTIES.