| The Group's core business, namely property development and investment in Hong Kong and China, contributes to more than 90% of profit in FY21. Its attributable contracted sales in Hong Kong ranked the first among peers, while gross contracted sales of the Greater Bay Area accounted for 65% of mainland China in the same period. The Group's business areas also include investment in and/or operation of roads, commercial aircraft leasing, construction, insurance, hotels and so on. New World Development is a constituent stock of the Hang Seng Index, while its fellow companies NWS Holdings and New World Department Store China are both Hong Kong listed companies. |
| Competitive Advantages |
- Higher earnings stability
Rental income from fellow investment properties K11 is expected to grow at a 30% CAGR in the coming 1 to 4 years on the back of the outperforming sales growth compared to the retail market. The Group's recurrent underlying profit contribution is expected to increase to over 50% in FY24, as 23 investment properties projects are scheduled to be completed in the next five fiscal years. Higher proportion of recurring rental income will help enhancing business stability.
- Strong financial strength
As at the end of FY21, the Group's net gearing ratio was 35.6% while interest coverage ratio stood at 6.9x. The plan to dispose additional HK$10b of assets in FY22 will further improve liquidity and the quality of property investment portfolio.
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| Sustainable development |
As at 30 Jun 2021, the Group had over 80% or about 14m square feet of its farmland located in the Northern Metropolis area highlighted in the 2021 Hong Kong Policy Address, giving the company opportunities to monetise its farmland. |
| Market Capitalization |
Over HKD 84.8 billion |
Webinar Details
| Date: |
29 Nov, 2021 (Mon) |
| Time: |
7:00pm – 8:00pm
(Preparation time:6:30pm - 7:00pm) |
| Language: |
Cantonese |
| Moderator: |
Mr. Ivan Ip Kwok Pong
Strategist, UOB Kay Hian (Hong Kong)
|
| Guest Speakers |
Mr. Edward Lau
Chief Financial Officer,
New World Development
Ms. Christy Lam
Head of Investor Relations,
New World Development
Ms. Ellie Tang
Head of Sustainability,
New World Development
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Register now!
Disclosures/Disclaimers
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