Summary by Futu AI
Hsin Chong Group Limited (Stock Code: 00014) announced its unaudited interim business results for the six months ended June 30, 2024. The turnover increased by 5.1% compared to the same period last year, reaching HK$169.3 million, while the recurring basic earnings declined slightly by 0.7% to HK$101.9 million. The business income of the company's shops increased by 10.8%, indicating the initial effectiveness of the optimization strategy in Lei Garden and expecting more international top brands to open in the next 12 months. The office rental rate remained stable, but the overall Hong Kong Grade A office market faces rental pressure. 70% of the office space in Shanghai Lei Garden has been leased, and the Canal Road project is expected to be completed in the second half of 2026, providing advanced sustainable design and commercial facilities. The Group maintains an unchanged interim dividend of HK$0.27 per share. Hsin Chong Group stated that it will continue to leverage its wisdom and flexibility, focus on dealing with complex market situations, and remain optimistic about future development.