The 4-day "Hong Kong Holiday & Travel Expo 2025" concluded successfullytoday, with attendance reaching a new record high.HONG KONG, Feb 24, 2025 - (ACN Newswire via SeaPRwire.com) - The "Hong Kong Holiday & Travel Expo 2025," a premier travel carnival, concluded today with resounding success, which marks a significant 27% increase in attendance compared to the expo last year. The exhibition hall was abuzz with activity, and exhibitors reported robust business performance, underscoring the public's unwavering enthusiasm for travel products and experiences.Mr. Carl Wong, Chairman of Exhibition Group Limited, commented, "We are thrilled to see the record-breaking attendance at this year's expo, which validates our strategic focus on delivering an immersive, carnival-style experience for visitors. In addition to offering premium travel products and a series of informative seminars, we introduced a mascot parade for the first time, featuring mascots from various regions engaging directly with attendees. This initiative received overwhelmingly positive feedback, not only driving higher footfall but also creating enhanced business opportunities for our exhibitors."As the co-organizer of the expo, the Travel Industry Council of Hong Kong is thrilled that attendance at the "Hong Kong Holiday & Travel Expo 2025" has once again set a record. Mr. Tommy Tam, Chairman of the Travel Industry Council of Hong Kong, remarked, "exhibitors are extremely satisfied with both the visitor turnout and the sales results from this expo, and the attendees also left very pleased. I hope the Exhibition Group will continue to provide high-quality travel purchasing experiences for travelers in Hong Kong and the Greater Bay Area in the future, offering them more benefits and further developing the exhibitions into the travel expos that travelers truly enjoy attending!"Exhibitors highlighted the vibrant, festive atmosphere as a key factor in attracting larger crowds and boosting visitor engagement. Goldjoy Travel Limited reported that their sales on the first day alone doubled their initial targets. Overseas Property Tour Limited noted a 40% year-on-year increase in sales for small group tours, while property viewing tours saw a remarkable 60% surge. Similarly, EAT PLAY TRAVEL expressed great satisfaction with this year's results, achieving a 40% increase in sales compared to September 2024. Encouraged by the strong performance, EAT PLAY TRAVEL has already planned to participating in future editions of the expo.In line with the government's emphasis on "silver economy," this year's expo introduced special initiatives to cater to the elderly demographic, including free admission and exclusive gifts for visitors aged 65 and above. These measures proved highly effective, with elderly attendance rising by nearly 20% compared to September 2024. Exhibitors welcomed this trend, recognizing the immense potential of the silver-hair market. For instance, TravPholer reported that senior visitors showed particular interest in long-haul tours to destinations such as Africa, Latin America, and the Middle East, with this demographic accounting for 70% of all travel product inquiries. First-time exhibitor Hualien Tour also noted that seniors made up 60% of their customer base, with a strong preference for three-day, two-night packages. Given the success of these initiatives, Mr. Carl Wong confirmed that the group will continue to roll out tailored offers for seniors at future events.Mr. Carl Wong concluded, "We are deeply gratified by the overwhelming support from both exhibitors and the public for the 'Hong Kong Holiday & Travel Expo.' Given its growing popularity, we are committed to establishing the expo as a regular flagship event, providing an unparalleled one-stop platform for travel enthusiasts and industry professionals alike."Photo with caption: The four-day event set a new attendance record, marking a 27% increase in visitor numbers compared to the expo held in 2024. The exhibition hall was bustling with activity, clearly reflecting the public's ongoing enthusiasm and strong demand for travel products. This year's expo provided free admission and special gifts for seniors aged 65 and older, successfully boosting the proportion of elderly attendees at the event. The Organizer introduced a mascot parade for the first time, featuring mascots from various regions engaging directly with attendees, which not only driving higher footfall but also creating enhanced business opportunities for exhibitors.About Hong Kong Holiday & Travel ExpoThe first consumer-oriented travel carnival in Hong Kong, the “Hong Kong Holiday & Travel Expo” was created by the Exhibition Group Limited and was first organized in February 2024. The expo aims to allow the general public to directly purchase travel products from over 300 booths, including travel agencies, airlines, theme parks, hotels, restaurants, tourism boards, and travel experience platforms. It truly satisfies the travel needs of citizens in terms of dining, shopping, entertainment, flights and accommodation at the travel carnival.About Exhibition Group LimitedExhibition Group Limited is one of Hong Kong's leading exhibition planning companies. Established in 2003 by a core group of innovative, experienced and professional exhibition experts, it is a leading event management company specializing in the planning and management of world-class public exhibitions, conventions and trade shows across a wide range of industries. With many years of experience in the industry, we are renowned in the exhibition industry for our commitment to the development of the exhibition and marketing business.This press release is issued by Strategic Communication Consultants Limited (SCC) on behalf of Exhibition Group Limited.Strategic Communications Consultants Limited (SCC)Vincent Ip Tel:2114 4341 / 5498 9705Email:vincent.ip@sprg.com.hk Fax:2114 0880 Andico TsuiTel:2114 4346 / 6902 3831Email:andico.tsui@sprg.com.hkFax:2114 0880 Copyright 2025 ACN Newswire via SeaPRwire.com.

ACN Newswire

CALB (3931.HK) Included in the Hang Seng Composite Index

HONG KONG, Feb 19, 2025 - (ACN Newswire via SeaPRwire.com) - Champion Real Estate Investment Trust (stock code: 2778), the owner of Three Garden Road and Langham Place, announces its financial results for year ended 31 December 2024.Summary of financial results FY 2024FY 2023ChangeTotal Rental Income (HK$ million)2,1852,312- 5.5%Net Property Income (HK$ million)1,8201,946- 6.5%Distributable Income (HK$ million)9581,122- 14.6%Distribution per unit (HK$)0.14220.1683- 15.5% 31 Dec 202431 Dec 2023ChangeGross Value of Portfolio (HK$ million)60,10462,950- 4.5%Net Asset Value per unit (HK$)7.167.72- 7.3%Gearing Ratio23.7% 22.8%+ 0.9 pp Ms. Christina Hau, Chief Executive Officer (Left) & Ms. Amy Luk, Investment and Investor Relations Director (Right)OverviewAmid the volatile macro environment, the occupancy of the Trust’s properties portfolio demonstrated resilience in 2024. While tenants’ sales of Langham Place Mall continued to outperform the market in 2024, office rental remained under pressure in view of the poor demand and supply situation. As a result, total rental income of the Trust decreased by 5.5% to HK$2,185 million. Net property income dropped 6.5% to HK$1,820 million. The higher-for-longer interest rate environment remained unfavourable for the Trust. The Trust recorded a drop in distributable income by 14.6% to HK$958 million and distribution per unit (“DPU”) decreased by 15.5% to HK$0.1422.Three Garden RoadDespite the sluggish momentum of the overall Central Grade A office leasing in 2024, occupancy of Three Garden Road continued to demonstrate resilience and was 82.6% as at 31 December 2024, similar to end of 2023. Rental income dropped 7.4% to HK$1,132 million (2023: HK$1,222 million) as a result of negative rental reversion.Langham Place Office TowerThe property remains an enviable lifestyle and wellness hub with lifestyle tenants accounting for 67% of the area as at 31 December 2024. Occupancy stood at 87.2% as at 31 December 2024. Rental income declined by 7.3% to HK$324 million (2023: HK$350 million). The “Six Dimensions Wellness Hub” programme was launched to continue promoting it as a one-stop wellness hub and cultivate prospects for medical and wellness tenants.Langham Place MallLangham Place Mall continued to outperform the market. Occupancy of the mall maintained a high level at 99.3% as at 31 December 2024 (31 December 2023: 98.6%). Tenants’ sales of the mall declined by 4.3% in 2024, compared with a 7.3% drop in Hong Kong retail sales. Overall, rental income of the mall dropped slightly by 1.6% to HK$728 million (2023: HK$740 million).DistributionDistributable income of the Trust dropped 14.6% to HK$958 million (2023: HK$1,122 million) and DPU for 2024 amounted to HK$0.1422 (2023: HK$0.1683). Based on the closing unit price of HK$1.73 recorded on 31 December 2024, the total DPU represented a distribution yield of 8.2%.Asset ValueThe appraised value of the Trust’s property portfolio was HK$60.1 billion as at 31 December 2024, compared with HK$62.9 billion as at 31 December 2023.Sustainability We have achieved the prestigious title of “Global Listed Sector Leader” and the highest five-star rating in the 2024 GRESB Real Estate Assessment. Three Garden Road has secured two Platinum certifications in Leadership in Energy and Environmental Design (LEED) and WiredScore, marking it the first “Quadruple Platinum” Grade A existing office building in Hong Kong. During the year, we launched our inaugural “Champion REIT ESG Week”, collaborating with more than 20 partners and organisations from various sectors. Expanding upon the well-received Green Champion Challenge last year, we took a step forward by organising the EcoChampion Pledge. Additionally, in partnership with social enterprise V Cycle and more than 40 beauty tenants, we initiated the Langham Beauty’s Green Vitality Beauty Empties Recycling initiative at Langham Place Mall.OutlookLooking ahead, the macro economy outlook appears to be uncertain amid growing global geopolitical tensions. The unfavourable competitive operating landscape of the office market should continue to impact market rental in 2025. As a retail pioneer, Langham Place Mall will endeavour to provide one-of-a-kind experience for our patrons and will celebrate its 20th anniversary through a series of novel initiatives. We will remain agile while deepening collaboration with our stakeholders under the dynamic market environment. About Champion REIT (stock code: 2778)Champion Real Estate Investment Trust is a trust formed to own and invest in income producing office and retail properties. The Trust focuses on Grade A commercial properties in prime locations. It currently offers investors direct exposure to nearly 3 million sq. ft. of prime office and retail floor area. These include two Hong Kong landmark properties, Three Garden Road and Langham Place, as well as a joint venture stake in 66 Shoe Lane in Central London. The Trust has been awarded the top five-star rating by GRESB for two consecutive years since 2023.Website: www.championreit.com Copyright 2025 ACN Newswire via SeaPRwire.com.

Goldman Sachs Raises Everest Medicines’ Target Price to HK$48.32 on Stronger Commercial and R&D Outlook

Februari 19, 2025

HONG KONG, Feb 19, 2025 - (ACN Newswire via SeaPRwire.com) - Goldman Sachs’ latest report on China’s biotechnology sector highlights Everest Medicines (1952.HK) as a company on track to achieve EBITDA break-even by the end of 2025. This outlook is driven by the accelerated commercialization of Nefecon®, which was recently included in China’s National Reimbursement Drug List (NRDL). The report underscores that expanded reimbursement coverage is expected to significantly boost market potential in treating IgA Nephropathy (IgAN) and address a substantial unmet medical need. Goldman Sachs notes, “Everest targeted EBITDA break-even by YE25, expecting the NRDL coverage to unleash the significant patient need in IgAN.”Beyond Nefecon®, Everest’s BTK inhibitor EVER001 is emerging as a promising pipeline asset, with encouraging early clinical data in primary membranous nephropathy (pMN). According to Everest’s Phase 1b/2a trial results, EVER001 demonstrated quick disease remission in pMN patients, with 82% of low-dose and 86% of high-dose patients achieving clinical remission based on 24-hour proteinuria reduction, and 91% and 100% achieving immunological complete remission, respectively, based on anti-PLA2R autoantibody decrease. The data also showed clear dose-dependency across key biomarkers, reinforcing the drug’s mechanism of action. With no major safety concerns reported, EVER001 has the potential to be a best-in-class therapy for pMN.Goldman Sachs also highlights EVER001’s global development potential, as Everest prepares for multinational clinical trials to evaluate its benefits across different ethnic populations. The report notes that while pMN is a smaller market than IgAN, it shares strong synergies in disease mechanism and treatment approaches, making it a strategically valuable addition to Everest’s renal disease franchise.The report further emphasizes China’s evolving biotech landscape, where global licensing and partnerships are becoming key drivers of growth. Everest’s consistent execution of its renal and mRNA-focused strategy, combined with its emphasis on global expansion, positions the company well for sustained success.Reflecting these positive developments, Goldman Sachs has raised its 12-month target price for Everest Medicines to HK$48.32, nearly doubling from the previous HK$24.50. The upgrade factors in stronger commercial visibility, EVER001’s potential in pMN, and an improved financial outlook as Everest advances toward profitability. Copyright 2025 ACN Newswire via SeaPRwire.com.

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