Hong Kong · Delayed Price · Currency is HKD New World Development Company Earnings Call Transcripts
Fiscal Year 2026
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Loss narrowed by over 40% year-on-year, with strong Hong Kong property sales and reduced financing costs. Debt exchange and cost controls stabilized finances, while over 1,300 new units are set for launch in the second half.
Fiscal Year 2025
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FY 2025 saw strong property sales and improved cash flow, with total and net debt reduced. Despite a HKD 16.3 billion loss due to non-cash and one-off items, refinancing and cost controls strengthened liquidity. Market conditions remain uncertain, but sales targets and CAPEX reductions are set for FY 2026.
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H1 FY25 saw core operating profit fall 18% year-over-year to HKD 4.4 billion, with a HKD 6.6 billion loss due to one-off items. Debt reduction and cash flow improved, with strong property sales in both Hong Kong and mainland China, and CapEx guidance lowered.
Fiscal Year 2024
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FY 2024 saw a reported loss due to non-cash impairments and weak property markets, but core operating profit only declined 18% year-on-year. The group is focusing on deleveraging, asset-light strategies, and expects market recovery with new policy support and the rate cut cycle.