What do we learn from "Hashem Kanani Reishis Darko"?
Rashi, from Pesachim 54a: Torah was created before the world. There are six other such matters - Teshuvah, Gan Eden, Gehinom, the Kisei ha'Kavod, the Beis ha'Mikdash, and the name of Mashi'ach.)
Pesachim 87b: It is one of Hashem's four acquisitions in His world. (The others are
Kidushin 32b: "Zaken" (whom one must honor and stand in front of him) is Zeh she'KaNah (this one, who acquired) Chachmah.
Malbim: Chachmah is the form of all the worlds, from the beginning to the end. All were made, established, measured and prepared according to the laws of Chachmah. When Hashem Darach (went on) His first way created the creation from nothing, the first revelation of His desire was an Atzeilus (an emanation from Him) revealing how He will conduct the world with Chesed and Gevurah, and His Kadosh Midos - Rachum, Chanun, Erech Apayim and Tif'eres. The beginning of His way was Chachmah. Targum Yerushalmi of "Bereishis" is b'Chuchma.
Why does it say Kedem Mif'alav me'Az"?
Malbim: After revelation of His ways, He began carrying out His deeds. His 'Bechor' was born - Olam ha'Kisei. He sat in it, and began doing His deeds.