The Zhitong Finance App learned that Hang Lung Properties (00101) rose more than 5% in the intraday period. As of press release, it had risen 4.87% to HK$7.645, with a turnover of HK$704.403 million.

According to the news, Hang Lung Properties announced first-half results. Property rental revenue increased 5% year over year to HK$4.92 billion, operating profit increased 4% year over year to HK$3.47 billion; property sales business accrued impairment provisions of HK$120 million, causing overall shareholders' basic net profit to fall 10% year on year to HK$1.44 billion, lower than market expectations; and the interim dividend remained flat at HK12 cents year on year.

Xiaomo believes that the market's view on Hang Lung Properties is too pessimistic. The sales volume of its mainland shopping malls increased 17% year-on-year in the first half of the year, and management expected that merchant sales could record high unit growth in the second half of the year. The guidelines were better than the bank's expectations, reflecting the strong performance of non-luxury brand tenants and the continued diversification of the brand portfolio. Citi, on the other hand, expects the Group's profit growth to emerge in 2027.

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