New World Development (0017) reported revenues of HK$8.39 billion for the period ended 31 December 2025, representing a year-on-year decrease of around 50%. Gross profit declined 25% to HK$5.04 billion, while core operating profit decreased 18% to HK$3.64 billion. Due to one-off losses and lower property handovers, the loss attributable to shareholders amounted to HK$3.73 billion, although narrower by 44% year-on-year. The Board resolved not to declare an interim dividend.

According to the announcement, overall attributable contracted sales reached approximately HK$13.80 billion. In Hong Kong, attributable contracted sales amounting to about HK$10.30 billion were booked, primarily from residential developments such as Deep Water Pavilia, House Muse, The Pavilia Forest, and The Knightsbridge. Meanwhile, the Chinese Mainland contributed RMB3.20 billion in attributable contracted sales, with around 60% from projects in the Greater Bay Area.

The Group maintained a disciplined approach to capital allocation, reducing capital expenditure by 29% to HK$3.50 billion and administrative expenses by 18% year-on-year. Cash and bank balances stood at HK$21.54 billion, and undrawn banking facilities reached HK$15.87 billion. Total debt was lowered by around HK$1.70 billion to HK$144.30 billion, taking net debt to HK$122.72 billion. As a result, the net gearing ratio was 59.7%, compared with 58.1% as at 30 June 2025.

During the period, the Group completed a debt exchange covering perpetual securities and guaranteed notes worth around HK$20.00 billion, aimed at improving its debt structure. Management indicated that the Group will continue stringent cost-control measures, accelerate property sales, and pursue balance sheet enhancements for sustainable growth.