Full Year 2024 Hang Lung Properties Ltd and Hang Lung Group Ltd Earnings Presentation Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: John Chen - JPMorgan Chase & Co. - Analyst : Thank you, management. So I have two questions. The first question is about the rental reversion. Can you share a bit more about the rental reversion trend in the second half last year? And what's your expectation for this year in 2025? And then the second question is about a comment that we made just now. You said that January has been pretty good so far. Is this based on traffic or is this based on tenant sales? And then can you share a bit more colors on the split between VIP as well as non-VIP. Is VIP doing better? And then yeah, some colors on that would be great. Thank you very much.

Question: John Chen - JPMorgan Chase & Co. - Analyst : And I think you need to use the mic so that online -- Unidentified Participant In relation to that level 4 area, I find it quite interesting because, personal care and beauty product, we were supposed to have a lot of online competitions. You actually have expansion quite aggressively. Just wondering what's going on over there and to your earlier point about food and beverage this year, you see a lot of opportunity there was that strategically trying to try some food traffic over there? And then I think secondly, just want to touch on the CapEx numbers as well as I think you mentioned, you did [probations], wondering on your book, your per square feet costs on your current units. Okay. Never mind the buyer (multiple speakers).