大摩预期新世界发展中期净亏损仍将持续 并可能继续暂停派息

Group 1 - The core viewpoint of the report is that New World Development is expected to announce a net loss for the first half of the fiscal year 2026, despite improvements in Hong Kong residential sales and reductions in administrative expenses [1] - The primary focus for New World Development remains on deleveraging, with project sales emphasizing volume over profit margins [1] - The K11 malls under the company are performing well, showing positive sales growth and new tenant signings, which may lead to unexpected positive results [1] Group 2 - Morgan Stanley has assigned a "Reduce" rating to New World Development with a target price of HKD 6.5 [2]