Core Insights - New World Development reported a solid performance for the fiscal year 2025, achieving a contract sales target of HKD 26 billion and raising the sales target for fiscal year 2026 to HKD 27 billion [1][3] - The company successfully completed bank refinancing of HKD 88.2 billion, leading to a decrease in total and net debt, and a significant improvement in cash flow [1][4] - Core operating profit reached HKD 6 billion, indicating a stabilization of the company's financial condition [3][4] Financial Performance - Total debt and net debt decreased by HKD 5.7 billion and HKD 3.6 billion respectively compared to the previous year [4] - Capital expenditures (CAPEX) decreased by 15% year-on-year, while operating expenditures (OPEX) fell by 16% [4] - The average interest rate and total financing costs significantly declined due to interest rate cuts in the US and Hong Kong, contributing to lower financing costs [4] Market Performance - The core real estate business showed strong performance, with contract sales in Hong Kong and mainland China reaching HKD 26 billion, with HKD 11 billion from Hong Kong and RMB 14 billion from mainland sales [5][6] - Several projects, including "滶晨" in Hong Kong and "广粤观邸" in Guangzhou, achieved remarkable sales, with the latter generating RMB 2 billion on its opening day [6] - The K11 series malls in Hong Kong experienced record foot traffic, with a 20% year-on-year increase [6] Strategic Initiatives - The company is focusing on its core business and has a robust pipeline of projects, with over 2,100 units expected to be available in fiscal year 2026 [8] - New World is actively collaborating with strategic partners to enhance development potential, including projects with 招商蛇口 and 华润置地 [8] - The company plans to leverage its land reserves in the Northern Metropolis area to accelerate value realization and improve cash flow [8] Future Outlook - The company is optimistic about the market recovery and aims to capitalize on the improving conditions to boost sales and enhance cash flow [9] - New World is committed to maintaining a balanced approach to growth while prioritizing debt reduction as a key objective for the year [9]

Core Insights - New World Development (00017) reported a solid performance for the fiscal year 2025, achieving a core operating profit of HKD 6 billion and setting a sales target of HKD 27 billion for fiscal year 2026 [1][2] Financial Performance - The company successfully completed bank refinancing of HKD 88.2 billion, extending the earliest loan maturity to June 30, 2028, which significantly improved liquidity [2] - Total debt and net debt both decreased during the reporting period, with capital expenditures (CAPEX) down 15% and operating expenditures (OPEX) down 16% year-on-year [2] - The average interest rate and total financing costs decreased due to interest rate cuts in the US and Hong Kong, contributing to a more favorable financial structure [2] Real Estate Business - The core real estate business performed strongly, achieving contract sales of HKD 26 billion, with HKD 11 billion from Hong Kong and RMB 14 billion from mainland China [3] - Notable projects included the "滶晨" project in Hong Kong, which became the top seller with over HKD 10.7 billion in sales, and the "广粤观邸" project in Guangzhou, which sold RMB 2 billion upon opening [3] Future Development Plans - The company has a robust land bank and plans to launch over 2,100 units in Hong Kong for fiscal year 2026, including projects in Kowloon City and West Kowloon [4] - Ongoing collaborations with partners like China Merchants Shekou and China Resources Land will yield additional residential units, enhancing the company's project pipeline [4] - New investment properties, including the second K11 in Guangzhou and upcoming projects in Shanghai and Hangzhou, are set to expand the company's portfolio [4]

Core Viewpoint - New World Development has reported a solid performance for the fiscal year 2025, achieving a core operating profit of HKD 6 billion and setting a sales target of HKD 27 billion for fiscal year 2026, indicating a positive outlook for the company's financial health and operational efficiency [1] Financial Performance - The company successfully completed bank refinancing of HKD 88.2 billion, extending the maturity of bank loans to June 30, 2028, which significantly enhances liquidity [2] - Average interest rates and total financing costs have decreased due to interest rate cuts in the US and Hong Kong, alongside a reduction in debt levels [2] - Capital expenditures (CAPEX) decreased by 15% year-on-year, while operating expenditures (OPEX) fell by 16%, reflecting improved operational efficiency [2] Real Estate Business - The core real estate business performed strongly, achieving contract sales of HKD 26 billion, with contributions of HKD 11 billion from Hong Kong and RMB 14 billion from mainland China [3] - Notable projects include the "滶晨" project in Hong Kong, which achieved sales of over HKD 10.7 billion, and the "广粤观邸" project in Guangzhou, which sold RMB 2 billion on opening day [3] Future Development Plans - The company has a robust land bank and plans to launch over 2,100 units in Hong Kong for fiscal year 2026, including projects in Kowloon City and West Kowloon [4] - Collaborative projects with partners such as China Merchants Shekou and China Resources Land are underway, aiming to provide thousands of residential units [4] - The investment property segment is also set for expansion, with new K11 projects opening in Guangzhou and Shanghai, contributing to future revenue growth [4]

Group 1 - The K11 division of New World Development achieved a 4% growth in performance during the reporting period [1] - K11 is a registered trademark and brand fully owned by New World Group [1] - The former CEO of New World, Zheng Zhigang, has permission to use the "K11 by AC" brand, but it operates independently from New World Group [1] Group 2 - New World Group does not manage any properties developed by third parties outside of its own companies [1] - The latest financial report indicates a 4% growth in the K11 division's performance [1]

Group 1 - New World Development confirmed that K11 is a wholly owned trademark and brand of the group, and K11 by AC has no relationship with it [1] - K11 by AC, established by former New World CEO Dr. Zheng Zhigang, operates independently and has obtained permission to use the K11 brand [1] - The K11 division of New World Development reported a 4% growth in performance for the fiscal year 2025 [1] Group 2 - In early September, Zheng Zhigang announced a partnership with Qingdao West Coast New Area Management Committee and Changkun Group to build a multifunctional complex [2] - Zheng Zhigang also founded ALMAD Group, under which K11 by AC operates as a cultural brand [2]

Core Viewpoint - New World Development Limited has secured a financing agreement with Deutsche Bank for up to HKD 5.9 billion, aimed at supporting the group's daily financing activities [1][2]. Financing Details - The initial commitment for the financing is HKD 3.95 billion, with the financing secured against Victoria Dockside properties and related assets, including K11 ARTUS, K11 ATELIER, K11 MUSEA, and the Rosewood Hong Kong hotel [1][2]. - The company retains the right to further leverage these assets for additional financing to support future business needs [1]. Debt Management Strategy - New World Development has been facing significant short-term debt repayment pressures, with a total borrowing of HKD 146.49 billion as of December 31, 2024, of which HKD 32.21 billion is due within 12 months [3]. - The company has cash and bank deposits amounting to HKD 21.42 billion, which is insufficient to cover its short-term debt obligations [3]. Recent Developments - The financing agreement follows a previous announcement regarding a major refinancing arrangement covering approximately HKD 88.2 billion of existing unsecured offshore financial debt, aimed at improving short-term repayment capabilities and reducing cash flow pressure [2]. - The company has publicly stated that reducing debt is a core strategic priority, especially in light of recent rumors regarding potential privatization offers from its controlling shareholder and Blackstone Group, which the company has denied [4]. Market Implications - The HKD 5.9 billion financing is seen as a crucial liquidity support measure amidst ongoing debt management efforts, although it primarily serves as a buffer given the company's overall debt levels and upcoming short-term obligations [4].

（於 香 港 註 冊 成 立 之 有 限 公 司） (Stock Code 股份代號：0017) (incorporated in Hong Kong with limited liability) You may access the Documents by clicking "Interim/Annual Reports" under "Reports and Presentations" and clicking "Announcements" under "Investor's Column", both under "INVESTOR RELATIONS" section of the Company's website. Please note that the 2025 annual general meeting of the Company will be held at Meeting Room N201 (Expo Drive Entrance), Level 2, Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wa ...

登記股東姓名及地址 回 條 致： 新世界發展有限公司（「公 司」）（股 份 代 號：0017） 經卓佳證券登記有限公司轉交 香 港 夏愨道16號 遠東金融中心17樓 本 人╱吾 等 希 望 以 下 列 方 式 收 取 公 司 所 有 日 後 公 司 通 訊*（「公司通訊」）： （請 僅在其中一個 空 格 內 劃 上「X」號。） □ 僅 收取所有日後公司通訊之 英 文 版 印 刷 本；或 □ 僅 收取所有日後公司通訊之 中 文 版 印 刷 本；或 □ 收取所有日後公司通訊之 中、英 文 版 印 刷 本；或 □ 瀏覽公司網站www.nwd.com.hk 登載之所有日後公司通訊（「網上版本」），以 代 替 印 刷 本，並 以 本 人╱吾 等 的 電 郵 地 址 收 取 關 於 日 後 公 司 通訊在公司網站登載的通知（附 註3）： 電郵地址 登記姓名（以 英 文 正 楷 填 寫） 聯 絡 電 話 號 碼 簽 名 日 期 附 註： 1. 請 閣 下 清 楚 填 妥 所 有 資 料。倘 未 有 在 任 何 一 個 空 格 或 在 超 過 一 個 空 格 劃 上「X」號，公 司 保 留 權 利 將 本 表 格 視 為 無 ...

選擇公司通訊之語言版本及收取方式 （於 香 港 註 冊 成 立 之 有 限 公 司） （股 份 代 號：0017） 致 列 位 新 登 記 股 東： 本公司之2025年股東週年大會將於2025年11月20日（星 期 四）上 午11時45分假座香港灣仔博覽道1號 香港會議展覽中心二樓會議室N201室（博 覽 道 入 口）舉 行。 根據香港聯合交易所有限公司證券上市規則第2.07A與2.07B條 及 本 公 司 之 組 織 章 程 細 則，本 公 司 現 向 閣下提供若干方案，以便收取本公司日後之公司通訊（「公司通訊」），即本公司發出或將予發出以供 其任何證券持有人或投資大眾參照或採取行動之任何文件，其中包括但不限於：(a)董事會報告、其年 度賬目連同核數師報告及（如適用）財務報告摘要；(b)中期報告及（如適用）中期報告摘要；(c)會議通告； (d)上 市 文 件；(e)通 函；及(f)代 表 委 任 表 格。 閣 下 可 選 擇： 為 響 應 環 保 及 節 省 印 刷 及 郵 遞 費 用，本 公 司 建 議 閣 下 選 擇 收 取 網 上 版 本。在 行 使 上 述 選 擇 權 時， 請 閣下在隨本函附上的回 ...

(incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） (Stock Code 股份代號：0017) New World Development Company Limited ( 新世界發展有限公司 ) (the "Company") — Notice of Publication of (1) the annual report for the year ended 30 June 2025, (2) the circular dated 29 September 2025 including notice of 2025 annual general meeting and (3) proxy form (collectively the "Current Corporate Communications") English and Chinese versions of the Current Corporate Communications are available on the Company's website at ...