New World Development (00017): FY2026 core operating profit of HK$7.7 billion increased for the first time in three years

The Zhitong Finance App learned that New World Development (00017) released full-year results for the 2026 fiscal year, and recorded improvements in various indicators of sales, profit and financial management. During the period, the Group's annual contracted sales amounted to HK$29.6 billion, surpassing the annual target of HK$27 billion. Among them, Hong Kong's share of contract sales amounted to approximately HK$22 billion, a record high since FY2021. The Mainland has annual contract sales of approximately RMB 6.8 billion. In terms of profit, net profit from recurring operations after interest and tax was recorded at around HK$2.2 billion, turning a loss into a profit for the first time in three years. Core operating profit increased by about 28% year-on-year to HK$7.7 billion, reflecting continued improvement in the profitability and operating efficiency of the Group's core business.

In terms of asset monetization, New World promoted the first Hong Kong-funded C-REIT and listed Shanghai K11 Art Mall and K11 ATELIER New World Tower in the form of C-REIT. The expected issuance scale is approximately RMB 3.818 billion, and New World Development will subscribe for at least 20% of the equity. After the subscription was completed, the net proceeds of the Group were approximately $3.2 billion. Meanwhile, New World announced the sale of Hangzhou Phase I and Ningbo office projects. These measures help unleash the value of mature mainland assets, broaden asset monetization paths, and reflect the attractiveness of the Group's high-quality assets in the market.

New World management emphasized that optimizing the balance sheet is still a priority. In the future, it will continue to actively manage finances, further expand asset sales channels, and speed up the return of capital.