DBS published a Research Report stating that it maintains a "Buy" rating for SWIREPROPERTIES (01972), with the Target Price adjusted down from HKD 21.86 to HKD 20.35. The bank stated that SWIREPROPERTIES' basic earnings fell by 42% to HKD 6.8 billion last year, consistent with previous guidance, and announced a second interim dividend of HKD 0.76 per share. Since last September, the group has repurchased HKD 1.19 billion worth of shares, reaching 79% of the target, which is believed to support the stock price. DBS noted that the valuation of SWIREPROPERTIES is attractive, estimating a dividend yield of 7% to 7.4% for the years 2025 to 2026.