New World Development Faces 2026 Loss on Persisting Debt Challenges -- Market Talk

Dow Jones

2025/10/02

2356 GMT - New World Development's loss is may narrow in FY 2026, UOB Kay Hian analysts Jieqi Liu and Damon Shen say. They raise NWD's FY 2026 sales target to HK$27 billion, supported by abundant saleable units in Hong Kong and two new mainland projects. Policy support should help China sales, while pragmatic pricing will drive Hong Kong performance. Still, impairments may hinder profitability, and the real estate focused business will take time to manage debt and resume dividends. Fed rate cuts could reduce finance expenses by HK$0.8 billion for every 100bp cut, but NWD is challenged given HK$7.4 billion in finance costs with only HK$1.5 billion in recurring EBIT. UOB KH maintains a sell rating and HK$6.90 target on NWD, which closed at HK$7.82.(jason.chau@wsj.com)

(END) Dow Jones Newswires

October 01, 2025 19:56 ET (23:56 GMT)

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They raise NWD's FY 2026 sales target to HK$27 billion, supported by abundant saleable units in Hong Kong and two new mainland projects. Policy support should help China sales, while pragmatic pricing will drive Hong Kong performance. Still, impairments may hinder profitability, and the real estate focused business will take time to manage debt and resume dividends. Fed rate cuts could reduce finance expenses by HK$0.8 billion for every 100bp cut, but NWD is challenged given HK$7.4 billion in finance costs with only HK$1.5 billion in recurring EBIT. UOB KH maintains a sell rating and HK$6.90 target on NWD, which closed at HK$7.82.(jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 01, 2025 19:56 ET (23:56 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>New World Development Faces 2026 Loss on Persisting Debt Challenges -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNew World Development Faces 2026 Loss on Persisting Debt Challenges -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-10-02 07:56</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2356 GMT - <a href=\"https://laohu8.com/S/NWC.AU\">New World</a> Development's loss is may narrow in FY 2026, UOB Kay Hian analysts Jieqi Liu and Damon Shen say. They raise NWD's FY 2026 sales target to HK$27 billion, supported by abundant saleable units in Hong Kong and two new mainland projects. Policy support should help China sales, while pragmatic pricing will drive Hong Kong performance. Still, impairments may hinder profitability, and the real estate focused business will take time to manage debt and resume dividends. Fed rate cuts could reduce finance expenses by HK$0.8 billion for every 100bp cut, but NWD is challenged given HK$7.4 billion in finance costs with only HK$1.5 billion in recurring EBIT. UOB KH maintains a sell rating and HK$6.90 target on NWD, which closed at HK$7.82.(jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 01, 2025 19:56 ET (23:56 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0588545490.SGD","symbol_name":"Eastspring Investments - Asian Equity Income AS SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2572156960","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2572156960","pubTimestamp":1759362960,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2356 GMT - New World Development's loss is may narrow in FY 2026, UOB Kay Hian analysts Jieqi Liu and Damon Shen say. They raise NWD's FY 2026 sales target to HK$27 billion, supported by abundant saleable units in Hong Kong and two new mainland projects. Policy support should help China sales, while pragmatic pricing will drive Hong Kong performance. Still, impairments may hinder profitability, and the real estate focused business will take time to manage debt and resume dividends. Fed rate cuts could reduce finance expenses by HK$0.8 billion for every 100bp cut, but NWD is challenged given HK$7.4 billion in finance costs with only HK$1.5 billion in recurring EBIT. UOB KH maintains a sell rating and HK$6.90 target on NWD, which closed at HK$7.82.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","NDVLY":"新世界发展ADR","LU0823417653.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) ACC","LU0831093199.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM3\" (SGDHDG) INC","LU2506952170.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) INC","SG9999014492.USD":"NIKKO AM ASEAN EQUITY \"A\" (USD) ACC","LU0251143029.SGD":"Fidelity ASEAN A-SGD","LU0441851309.USD":"JPM ASEAN EQUITY \"A\" ACC","BK1559":"蓝筹地产股","SGXZ58947870.SGD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (SGDHDG) INC","SG9999002414.USD":"LIONGLOBAL SINGAPORE TRUST (USD) ACC","LU2152927971.USD":"NORDEA 1 ASIAN STARS EQUITY \"BP\" (USD) ACC","LU0762540952.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AC\" (USD) ACC","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU2506951958.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) INC","BK1216":"多样化房地产活动","BK4193":"多样化房地产活动","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","00017":"新世界发展","LU2506952097.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) ACC","LU0831103253.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","LU2663582299.SGD":"BSF BLACKROCK SYSTEMATIC ASIA PACIFIC EQUITY ABSOL \"A2\" (SGDHDG) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","U11.SI":"大华银行","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","SG9999014302.SGD":"RHB Singapore Income Fund SGD","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","BK6523":"ESG概念","BK6516":"银行与投资服务概念","LU2238330802.EUR":"AZ EQUITY - ASEAN COUNTRIES \"AAZ\" (EUR) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0414403682.SGD":"Blackrock Asia Pacific Equity Income A5 SGD-H","LU1508157978.USD":"BSF BLACKROCK SYSTEMATIC ASIA PACIFIC EQUITY ABSOLUTE RETURN \"A\" (USD) ACC","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","LU0210637038.USD":"HSBC GIF THAI EQUITY \"AD\" INC","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU0577902371.SGD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (SGD) ACC","LU0738912210.USD":"Blackrock Asia Pacific Equity Income A6 USD","LU0261945553.USD":"FIDELITY ASEAN \"A\" ACC","LU0950375773.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC A","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU0532188223.SGD":"JPMorgan Funds - ASEAN Equity A (acc) SGD","LU2506951875.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) ACC","SG9999001135.SGD":"United ASEAN Fund SGD","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD"},"translate_title":"新世界发展因持续的债务挑战而面临2026年亏损——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NDVLY":0.9,"U11.SI":0.9,"00017":0.9},"content_text":"2356 GMT - New World Development's loss is may narrow in FY 2026, UOB Kay Hian analysts Jieqi Liu and Damon Shen say. They raise NWD's FY 2026 sales target to HK$27 billion, supported by abundant saleable units in Hong Kong and two new mainland projects. Policy support should help China sales, while pragmatic pricing will drive Hong Kong performance. Still, impairments may hinder profitability, and the real estate focused business will take time to manage debt and resume dividends. Fed rate cuts could reduce finance expenses by HK$0.8 billion for every 100bp cut, but NWD is challenged given HK$7.4 billion in finance costs with only HK$1.5 billion in recurring EBIT. UOB KH maintains a sell rating and HK$6.90 target on NWD, which closed at HK$7.82.(jason.chau@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 01, 2025 19:56 ET (23:56 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}