Core Insights - The company is optimistic about the future of the real estate market, emphasizing the importance of quality in products and services to seize development opportunities [2][3] - The company has successfully secured a record refinancing of HKD 88.2 billion, marking the largest loan of its kind in Hong Kong's history [1] - The company aims to enhance cash flow stability by increasing sales, driven by favorable market conditions such as interest rate cuts and a stabilizing Hong Kong property market [1] Financial Performance - The company achieved a contract sales amount of over HKD 11.4 billion for the Yau Chan project, making it the top performer in Hong Kong's new housing market for 2025 [1] - The company projects a total contract sales amount of approximately HKD 14 billion in mainland China for the 2025 fiscal year, with the southern region, particularly the Greater Bay Area, contributing nearly 52% [3] Strategic Focus - The company is implementing a dual strategy of "sales properties + operating assets" to balance short-term revenue and long-term growth [5] - The company is focusing on urban renewal projects to acquire land, particularly in the Greater Bay Area and Yangtze River Delta regions, which are seen as having strong development potential [2][3] Market Outlook - The company expresses confidence in the demand support from both the Hong Kong and mainland markets, with a particular focus on the ongoing talent attraction initiatives in Hong Kong [2] - The company plans to concentrate investments in residential properties, aiming for a balance between cash input and output for long-term and short-term returns [3] Operational Strategy - The company is enhancing its operational management by integrating the operations of its Hong Kong and mainland subsidiaries, focusing on cost control and profit maximization [5][7] - The company is committed to improving cash flow, managing debt, and optimizing operational efficiency in the upcoming fiscal year [7]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 新世界發展有限公司 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 不適用 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00017 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 2,516,633,171 | | 0 | | 2,516,633,171 | | 增加 / 減少 (-) | | | 0 | | | | | | 本月底結存 | | | 2,516,633,171 | | 0 | | 2,516,633,17 ...

Core Viewpoint - New World Development, a Hong Kong property developer, has initiated a debt exchange offer of up to $1.9 billion to restructure its outstanding perpetual securities in response to a challenging financing environment [1][2][3] Group 1: Debt Restructuring and Financial Strategy - The company plans to issue up to $1.6 billion in new perpetual securities, with an additional $300 million allocated to new notes [1] - The primary objectives of the exchange offer include extending debt maturities, enhancing liquidity and balance sheet flexibility, and strengthening the overall financial position of the company [3] - Earlier this year, the company deferred coupon payments totaling $77.2 million on four perpetual bonds that were due in June [2] Group 2: Market Response and Company Performance - Following the announcement of the exchange offer, the company's shares increased by 3.1%, contrasting with a 1.5% gain in the Hang Seng Properties Index, while its perpetual bonds remained relatively unchanged [6] - New World Development is noted as the most indebted among its peers, having undergone two CEO changes last year, and is actively seeking to refinance its debt amid ongoing pressures from tighter credit conditions and a weak office market [6][8] Group 3: Advisory and Bondholder Engagement - Prior to the exchange offer, investment bank PJT Partners engaged in discussions with New World regarding terms acceptable to holders of senior notes and perpetual bonds [7] - An ad hoc group representing approximately 20% of the bonds is being advised by PJT Partners and law firm Kirkland & Ellis [7] Group 4: Historical Context and Future Needs - The company's debt challenges stem from an aggressive expansion strategy that coincided with Hong Kong's political unrest, the COVID-19 pandemic, and a prolonged real estate downturn [8] - Despite securing an $11.24 billion loan refinancing package earlier this year, the company still requires additional funding to reduce its debt and maintain operations in a weak property market [9][10]

Core Insights - Adrian Cheng Chi-kong has become a shareholder in CBCX Group, a London-based multi-asset broker, which offers a trading platform for various financial instruments and is expanding into digital assets [1][2] - The strategic investment is expected to significantly enhance CBCX's growth in the Asia-Pacific region and global markets, although the specific investment amount was not disclosed [2] - The partnership aims to improve financial trading and investment solutions in the gold and foreign exchange sectors, while also fostering collaboration in commodities, stocks, and brokerage services [3] Company Developments - Cheng's focus will be on traditional and virtual gold trading platforms, reflecting his increasing interest in virtual assets [4] - His new venture, ALMAD Group, targets markets in Southeast Asia, the Middle East, and China, aiming to innovate in digital and virtual assets [5] - ALMAD operates a digital-asset arm named A2Z and emphasizes transformative industries, including culture and healthcare [5] Background Context - Cheng previously served as CEO of New World Development, stepping down after the company reported a record full-year loss of approximately US$2.5 billion due to a property slump in Hong Kong and mainland China [6] - Following his resignation, Cheng expressed intentions to focus more on public services and personal commitments [6] - As an early-stage investor, Cheng has made notable investments in various sectors, including social media and electric vehicles [7]

Acquisition Details - Jardine Matheson Holdings has agreed to acquire the remaining 11.96% stake in Mandarin Oriental for $3.35 per share, which includes $2.75 in cash and a special dividend of $0.60 per share [1][2] - The total consideration for the acquisition values Mandarin Oriental's entire issued ordinary share capital at approximately $4.2 billion, excluding the OCB dividend [2][3] Strategic Context - Jardine Matheson has been the controlling shareholder of Mandarin Oriental, holding 88.04% prior to this announcement, and the acquisition aligns with its strategy for capital allocation across its portfolio in Asia [3][4] - The acquisition will be executed through a scheme of arrangement under section 99 of the Bermuda Companies Act [3] Operational Overview - Mandarin Oriental currently manages 43 hotels, 26 luxury homes, and 12 residences across 27 countries and territories, including major cities like Hong Kong and New York [4] - Jardine Matheson plans to finance the acquisition using cash and committed facilities [4] Market Performance - Mandarin Oriental shares have increased by 37.9% this year, while Jardine Matheson shares have risen by 49.2% [5] - The buyout is expected to close by February 28, 2026, pending the completion of a property sale anticipated by December 31, 2025 [5] Future Plans - Following the acquisition, Mandarin Oriental intends to request the removal of its shares from various stock exchange listings, including the Financial Conduct Authority and the London Stock Exchange [5]

Major Events - Guanghe Tong (00638) has set the offer price at HKD 21.5 per share, with the public offering receiving a subscription rate of 550.99 times [1] - China Biologic Products (01177) announced the Phase III study data of Kymriah combined with Fluvestrant for the first-line treatment of advanced breast cancer will be presented at ESMO 2025 [1] - Derun Holdings (01709) plans to conduct a placement of new shares at a discount of approximately 11.34%, aiming to raise about HKD 761 million [1] - New World Development (00017) clarified media reports, stating that it has not undertaken any debt management projects regarding perpetual and other debt securities [1] - China Shenhua (01088) reported that Unit 4 of the Jiujiang Phase II project has successfully completed a 168-hour trial run [1] - Jingwei TianDi (02477) has acquired a TCSP licensed company and launched a new feature called FOPAY [1] - Rongzun International Holdings (01780) announced that its controlling shareholder intends to place up to 60% of the company's shares, reducing their stake to 15% [1] Financial Performance - Pop Mart (09992) reported a year-on-year revenue growth of 245%-250% for the third quarter [2] - China Telecom (00728) recorded a profit attributable to shareholders of RMB 30.8 billion for the first three quarters, reflecting a year-on-year increase of 5.0% [2] - Luk Fook Holdings (00590) reported that its overall retail value, retail income, and same-store sales for the second quarter exceeded the first quarter, increasing by 18%, 15%, and 10% respectively [2] - Minmetals Resources (01208) produced a total of 127,000 tons of copper in the third quarter, marking an 11% year-on-year increase [2] - Datang Power (00991) achieved a total electricity generation of approximately 2,062.41 billion kilowatt-hours in the first three quarters, up about 2.02% year-on-year [2] - Far East Horizon (03360) reported an increase in profit attributable to ordinary shareholders for the first three quarters [2] - China General Nuclear Power Corporation (01164) produced a total of 644.3 tons of natural uranium in the third quarter [2]

Core Viewpoint - New World Development (00017.HK) clarifies that it is not undertaking any debt management projects for its perpetual securities and has not received any equity financing proposals from investors [1] Group 1 - The company is aware of media reports regarding potential debt management projects related to its perpetual securities [1] - The company confirms that it is not engaged in any debt management projects for its perpetual or other debt securities [1] - The company has not received any suggestions for equity financing from investors [1]

Core Viewpoint - New World Development (00017) clarifies that it is not engaged in any debt management projects for its perpetual securities and has not received any equity financing proposals from investors [1] Group 1 - The company is aware of media reports regarding potential debt management projects related to its perpetual securities [1] - The company explicitly states that it is not undertaking any debt management initiatives for its perpetual and other debt securities [1] - The company has not received any suggestions for equity financing from investors [1]

Core Viewpoint - New World Development (00017) clarifies that it is not undertaking any debt management projects for its perpetual securities and has not received any equity financing proposals from investors [1] Group 1 - The company is aware of media reports regarding potential debt management projects related to its perpetual securities [1] - The company confirms that it is not engaged in any debt management initiatives for its perpetual and other debt securities [1] - The company has not received any suggestions for equity financing from investors [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 (於香港註冊成立之有限公司) (股份代號: 0017) 自願公告 本公告乃由 New World Development Company Limited（新世界發展有限公司） （「本公司」，連同其附屬公司，統稱「本集團」）自願出具。 本公司知悉若干媒體報導指本公司正準備就其永續證券進行債務管理項目, 以及來 自投資者的潛在股權融資。 本公司謹此澄清： 本公司將根據香港聯合交易所有限公司證券上市規則、證券及期貨條例（第 571 章） 及╱或其他適用法律法規的披露要求，適時另行刊發進一步公告。 兹建議股東、債務及其他證券持有人及潛在投資者不要依賴有關本集團的市場傳言。 有關本集團的任何資訊僅應以本公司的官方公告為準。股東、債務及其他證券持有 人及潛在投資者於買賣本公司證券時務請審慎行事。 承董事會命 New World Development Company Limited (新世界發展有限公司) 聯席公司 ...