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New World Development Company Limited's (HKG:17) 55% Share Price Surge Not Quite Adding Up
Market Chatter: More Apartments Up for Sale in Hong Kong Following Interest Rate Cuts
New World Dev (00017.HK): When there is wind, one must sail with full mast, waiting quietly for good news at the industry turning point.
With the improvement of the macroeconomic environment and the gradual recovery of market demand, the financial situation of new world dev is expected to be further strengthened, laying a solid foundation for the company's long-term development.
Hong Kong property stocks rose in the morning session, with r&f properties (02777) up more than 24%, as expectations of fiscal measures continue to heat up and boost the outlook for rental income.
hong kong property stocks rose in the morning, as of the close of the press release, r&f properties (02777) rose by 24.55%, to 1.37 Hong Kong dollars; hang lung ppt (00101) rose by 10.65%, to 7.48 Hong Kong dollars; new world dev (00017) rose by 4.62%, to 10.44 Hong Kong dollars; wharf reic (01997) rose by 4.14%, to 27.65 Hong Kong dollars.
[Brokerage Focus] Haitong International trims new world dev (00017) target price by 17.1%, indicating dim profit prospects but improving financial condition.
Golden financial news | CCB International issued research reports, as indicated by the earlier profit warning, new world dev (00017) incurred a huge loss in the 2024 fiscal year and therefore suspended dividends. The bank pointed out that the profit prospects are dim but the financial situation is stabilizing. Due to poor performance, the eldest son of the third generation of the family and former CEO, Cheng Zhigang, resigned, and was replaced by the former Director of Development Bureau, Ma Shaoxiang, as the new CEO of new world dev. Considering the succession history of new world dev, we expect this appointment to be transitional, and the suspense of the third-generation successor may impede the operation of the company. Therefore, we hold a neutral view on the current management changes.
New World Development (HKG:17) Use Of Debt Could Be Considered Risky
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