新世界发展近期公布的2025财年业绩显示，过去一年公司的持续经营业务的股东应占亏损额仍达到163 亿港元，亏损幅度同比扩大38%。 同时，营收、毛利、核心经营利润等核心经营数据仍在下滑，其被打破的20年不亏损局面仍未得以扭 转。 就在今年2月，公司管理层在中期财报中曾提出"七项减债计划"的新世界发展，截至期末仍有千亿港元 债务，因此在同期的业绩会上，公司管理层仍然将降债作为新财年的重点工作。 在陆续出售了北京新景写字楼、宁波新世界写字楼、启德体育园有限公司股权等资产之后，新世界发展 的管理层在业绩会上表示，2026财年的仍会继续推行出售计划。资产的出售，也是降债的重要方式。 过去一年频繁动荡的新世界发展，仍在试图将公司业绩拉回正轨。 上一财年新世界发展最受关注的举措，便是在财年期末压线拿下了882亿巨额融资，以缓解公司债务压 力。 实际上，新世界的融资举措还在继续。就在财报发布前夕，新世界发展还以Victoria Dockside（维港文 化汇）物业作为抵押，和Deutsche Bank AG（德意志银行）签订了一份最高可达59亿港元的定期贷款融 资，其中初始承诺部份最高达39.5亿港元。 从目前降债、融资的 ...

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].