Market Performance: The Hang Seng Index (HSI) fell by 580 points (2.1%) to 27,387, with significant declines in other indices, including HSTI and HSCEI, and a market turnover of $301.61 billion.

Active Heavyweights: Major stocks like CCB, Xiaomi, Tencent, and Alibaba experienced notable declines, with short selling ratios indicating increased market activity against these stocks.

Significant Declines: CSPC Pharma, Chinahongqiao, and Zijin Mining saw substantial drops of over 9%, reflecting a broader trend of falling stock prices among HSI and HSCEI constituents.

Gainers and New Highs: New Oriental and Huabao International were among the few gainers, with New Oriental hitting a new high, while several other stocks, including SD Gold and Jiangxi Copper, faced significant losses.

Annual Results Overview: Hang Lung Group reported a turnover decline of 11.4% year-on-year, totaling HK$10.414 billion for the year ending December 2025.

Profit and Earnings: The net profit decreased by 15.1% to HK$1.37 billion, with earnings per share (EPS) reported at HK$1.01.

Dividend Declaration: A final dividend of HK65 cents was declared, maintaining the same amount as the previous year, resulting in a total annual dividend of HK86 cents, unchanged year-on-year.

Market Activity: The stock experienced a short selling of $166.01K, with a short selling ratio of 5.366%.

CEO Retirement Announcement: Weber Lo will retire as CEO and Executive Director of Hang Lung Group and Hang Lung PPT on or before August 31, 2026.

Market Reaction: Following the announcement, Hang Lung PPT's share price dropped by 2.9%, but JPMorgan views this as a good entry point, maintaining an Overweight rating with a target price of $10.

Minimal Operational Impact: JPMorgan believes Lo's retirement will have minimal impact on Hang Lung PPT's operations, as major decisions are still made by the family and there are no significant strategic shifts dependent on Lo.

Short Selling Data: Short selling activity for Hang Lung Group was $385.80K with a ratio of 24.306%, while Hang Lung PPT had $9.84M in short selling with a ratio of 30.508%.

CEO Retirement Announcement: Weber Lo will retire as CEO and Executive Director of Hang Lung Group and Hang Lung PPT by August 31, 2026, with a search for his successor currently underway.

Leadership Transition Support: The Boards expressed gratitude for Lo's leadership and indicated he will continue to provide advisory support in an official capacity after his retirement.

Financial Performance: HANG LUNG GROUP reported a total revenue of $5.202 billion for 1H25, marking an 18% year-over-year decline.

Property Sales Decline: The company experienced a significant drop in property sales revenue, which fell by 87% to $161 million.