Shanghai New World Co., Ltd (600628.SS)

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7.49

+0.12

+(1.63%)

At close: April 3 at 3:00:04 PM GMT+8

New World Seeks $2 Billion Loan Pledging Prized Hong Kong Asset

(Bloomberg) -- Hong Kong developer New World Development Co. has proposed using one of its most valuable assets, Victoria Dockside, as collateral for an additional loan of as much as HK$15.6 billion ($2 billion), according to people familiar with the matter, as liquidity pressure continues to mount.Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?How SUVs Are Making Traffic WorseTrump Slashed Inter

Bloomberg 10 days ago

600628.SS
+1.63%
Ares Seeks to Buy New World Development Debt From Banks

(Bloomberg) -- Ares Management Corp. approached at least two banks in recent weeks to purchase their holdings of debt issued by Hong Kong developer New World Development Co., according to people familiar with the matter. Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsNYC Congestion Pricing Toll Gains Support Among City ResidentsElectric Construction Equipment Promises a Quiet RevolutionOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsProspect Medical’s

Bloomberg 24 days ago

600628.SS
+1.63%
ARES
Debt cut plans lift New World Development, but analysts remain cautious

HONG KONG (Reuters) -New World Development's shares and bonds rallied on Monday after the major Hong Kong developer said it would increase cash flow and cut debt, but analysts said a more concrete deleveraging plan is needed. New World's market value has shrunk to about $1.7 billion from $14 billion in mid-2019. After reporting an interim net loss of HK$6.63 billion ($852.63 million) on Friday, the company said it plans active property sales and diminishing capital expenditure, and reiterated it was not discussing a holistic debt restructuring plan.

Reuters last month

600628.SS
+1.63%
New World Development Co Ltd (NWWDF) (H1 2025) Earnings Call Highlights: Navigating Challenges ...

Despite a significant loss, New World Development Co Ltd (NWWDF) focuses on debt reduction and achieves impressive sales, maintaining high occupancy rates in key projects.

GuruFocus.com last month

600628.SS
+1.63%
New World Development says will raise cash, cut debt after first-half loss

HONG KONG (Reuters) -New World Development, one of the biggest property developers in Hong Kong, reported an interim net loss of HK$6.63 billion ($852.45 million) on Friday, following a prolonged property downturn and high interest costs. CEO Echo Huang, who has led the company since November, said she would increase cashflow and cut debt by accelerating asset sales and lowering capital expenditure. Financial markets are watching New World closely because any deepening of its debt problems could trigger a crisis reminiscent of the one in mainland China that started in 2021 and led to scores of company defaults.

Reuters last month

600628.SS
+1.63%
HSBC cuts rates on fixed mortgages in Hong Kong amid slumping sales

Hong Kong's largest banks are likely to offer new mortgages to ease the burden on homebuyers amid elevated interest rates, but experts doubt that the trend would overcome the factors weighing down the struggling property market. HSBC, one of the city's three currency-issuing lenders, unveiled on Wednesday new mortgage plans offering a fixed rate of 3.18 per cent for the first three years, or 3.03 per cent for the first five years. In both cases, the rate for subsequent years is the prime interes

South China Morning Post last month

HSBC

600628.SS
+1.63%
Hong Kong's New World Development says business 'as usual' amid Bloomberg's coverage of potential default

Bloomberg News reported PJT Partners Inc., a global advisory-focused investment bank, has discussed with New World's dollar bondholders the possibilities of a potential bond default, set off by the developer's ongoing loan talks. PJT Partners, which is also working with developers like Country Garden Holdings, Kaisa Group Holdings, and Logan Group, warned that insolvency clauses in New World's dollar bonds could be triggered if the company engages with its bank lenders, according to Bloomberg.

Reuters 2 months ago

600628.SS
+1.63%
Hong Kong developer NWD's shares slump amid slow progress on cutting debt

New World Development (NWD) shares are down nearly 30 per cent since a new CEO was appointed in November and could continue declining as the highly leveraged Hong Kong developer has not yet made any headway in reducing debt, according to HSBC. The company's shares have fallen 7 per cent in the new year, after having lost more than 50 per cent of their value last year. The shares dropped 2.65 per cent to close at HK$4.78 on Wednesday. NWD, controlled by one of Hong Kong's richest families, has ma

South China Morning Post 2 months ago

600628.SS
+1.63%
New World loses more market value as developer strives to contain debt crisis

New World Development (NWD) can't seem to catch a break. Two rounds of top management shake-up to tackle its debt load and the loss of blue-chip stock status are threatening to spiral into a crisis of confidence. The stock slumped 1.2 per cent on Tuesday to HK$5.65, bringing the losses this year to more than 50 per cent while the benchmark Hang Seng Index advanced 17 per cent. The highly indebted developer is said to have sent out a letter to its bank lenders, seeking a waiver on loan conditions

South China Morning Post 3 months ago

600628.SS
+1.63%
Hong Kong developer New World to focus on managing debt, SCMP reports

Hong Kong property developer New World Development aims to focus on its debt load before any consideration of mergers or acquisitions, according to chairman Henry Cheng, the South China Morning Post reported (SCMP). New World will not take on new corporate activities that could hurt its cash flow, SCMP cited Cheng as telling a shareholders' meeting on Thursday, adding that the company's priority for now is to reduce its debt. New World had HK$123.7 billion ($15.9 billion) of consolidated net debt as of June 30, according to its latest financial report.

Reuters 4 months ago

600628.SS
+1.63%
New World Development Co Ltd (NWWDF) (Q4 2024) Earnings Call Transcript Highlights: Key ...

Despite significant challenges, New World Development Co Ltd (NWWDF) outlines a resilient strategy and future growth plans.

GuruFocus.com 6 months ago

600628.SS
+1.63%
Adrian Cheng Resigns as CEO of New World Development

Cheng, fashion investor and the heir apparent to the family conglomerate, will be succeeded by the company's chief operating officer Eric Ma Siu-cheung, effective immediately.

WWD 6 months ago

600628.SS
+1.63%
There is no quick recovery from Hong Kong’s property slump

Hong Kong’s own succession drama is unfolding at a pivotal moment for the city’s property sector. Shares of New World Development, the developer...

PREMIUM
Financial Times 6 months ago

600628.SS
+1.63%
Adrian Cheng: Hong Kong’s third-generation property scion under pressure

Adrian Cheng, the heir apparent to one of Hong Kong’s wealthiest families, became chief executive of the family property business in 2020, when...

PREMIUM
Financial Times 6 months ago

600628.SS
+1.63%
Hong Kong developer suffers historic loss in wake of Xi Jinping crackdown

One of Hong Kong’s biggest developers is bracing for its first loss in two decades, as President Xi Jinping’s crackdown on China’s property market and an exodus of Western businesses batter the sector.

The Telegraph 6 months ago

600628.SS
+1.63%
Hong Kong property developer warns of first annual loss in 20 years

One of Hong Kong’s largest property developers has said it expects to post its first annual loss in two decades due to the territory’s real estate...

PREMIUM
Financial Times 6 months ago

600628.SS
+1.63%
Shares in Hong Kong's New World Development plunge after loss estimate

Shares in major Hong Kong property developer New World Development plunged 13% after it estimated a net loss of as much as HK$20 billion ($2.6 billion) for the financial year that ended in June. "Together with the continuous interest rate hikes experienced during the year as well as the depreciation of (the) renminbi, the group expects to record a (net) loss," it said. New World has one of the highest debt-to-equity ratios among Hong Kong's property developers, and its plan to cut debt has been closely watched over the past year.

Reuters 6 months ago

600628.SS
+1.63%
NWD to report US$2.4 billion loss in past financial year amid property sector woes

New World Development (NWD), controlled by one of Hong Kong's richest families, looks set to report a loss for its financial year ending June, as property market woes continue to beset the city and the Chinese mainland. According to its statement to the Hong Kong stock exchange on Friday, NWD said it expects to record a loss attributable to shareholders of the company that range from HK$19 billion (US$2.4 billion) to HK$20 billion for the 12 months ended June 30. That preliminary estimate stems

South China Morning Post 7 months ago

600628.SS
+1.63%
New World touts US$4.5 bn in loans, debt payments since January as proof of funding health

New World Development (NWD), the conglomerate owned by one of Hong Kong's wealthiest families, said it has completed around HK$35 billion (US$4.5 billion) in "low-interest and long-tenure" loans and debt repayments since January. NWD announced on Monday that it was able to secure multiple low-cost new loans to replenish its liquidity and increase the proportion of yuan loans to reduce overall financing costs. The average interest rate for its offshore loans was about 1.1 per cent above Hibor, th

South China Morning Post 9 months ago

600628.SS
+1.63%

Performance Overview

Return	600628.SS	SSE Composite Index (000001.SS)
YTD	-8.32%	-0.29%
1-Year	+17.27%	+8.89%
3-Year	+2.24%	+1.81%

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Shanghai New World Co., Ltd (600628.SS)

New World Seeks $2 Billion Loan Pledging Prized Hong Kong Asset

Ares Seeks to Buy New World Development Debt From Banks

Debt cut plans lift New World Development, but analysts remain cautious

New World Development Co Ltd (NWWDF) (H1 2025) Earnings Call Highlights: Navigating Challenges ...

New World Development says will raise cash, cut debt after first-half loss

HSBC cuts rates on fixed mortgages in Hong Kong amid slumping sales

Hong Kong's New World Development says business 'as usual' amid Bloomberg's coverage of potential default

Hong Kong developer NWD's shares slump amid slow progress on cutting debt

New World loses more market value as developer strives to contain debt crisis

Hong Kong developer New World to focus on managing debt, SCMP reports

New World Development Co Ltd (NWWDF) (Q4 2024) Earnings Call Transcript Highlights: Key ...

Adrian Cheng Resigns as CEO of New World Development

There is no quick recovery from Hong Kong’s property slump

Adrian Cheng: Hong Kong’s third-generation property scion under pressure

Hong Kong developer suffers historic loss in wake of Xi Jinping crackdown

Hong Kong property developer warns of first annual loss in 20 years

Shares in Hong Kong's New World Development plunge after loss estimate

NWD to report US$2.4 billion loss in past financial year amid property sector woes

New World touts US$4.5 bn in loans, debt payments since January as proof of funding health

Performance Overview