The Zhitong Finance App learned that Hang Lung Properties (00101) fell more than 5%. As of press release, it fell 5.45% to HK$11.44, with a turnover of HK$56.6751 million.

According to the news, Hang Lung Properties announced interim results for the six months ended June 30, 2023, with revenue of HK$5.237 billion, a year-on-year decrease of 1.23%; net profit attributable to shareholders of HK$2,394 billion, an increase of 22.9%; profit of HK$0.53 per share; and proposed interim dividend of HK$0.18 per share.

Lyon released a research report saying that Hang Lung Real Estate's median results were in line with expectations, but the dividend per share remained flat below expectations in the medium term, mainly due to delays in the receipt of real estate sales from the second half of this year to next year. The bank lowered its earnings estimates for each year from this year to 2025 by 17.5%, 7% and 11.2%, respectively, and lowered its target price from HK$18.7 to HK$15.9.