NEW WORLD DEV (00017) expects the mid-term core operating profit to be between HK$4.35 billion and HK$4.55 billion.

On February 21st, NEW WORLD DEV (00017) issued a performance forecast, estimating that the core operating profit for the mid-term of the 2025 fiscal year may be between 4.35 billion and 4.55 billion Hong Kong dollars, excluding non-recurring gains and losses. Compared to the first half of the 2024 fiscal year, NEW WORLD DEV's profit was affected by other non-recurring factors such as impairment provisions, reduction in fixed-rate bond redemption gains, and disappearance of one-off gains. Industry insiders pointed out that with weakened market expectations, Hong Kong developers need to make impairment provisions for investments and property development, which is a risk management tool in accounting standards and reflects the prudence principle of real estate enterprises. Recognizing asset impairments does not necessarily mean significant changes in the company's production and operations or direct impact. On the same day, five units were sold in a single day at the Royal Palace project in North Point, Hong Kong, generating nearly 63 million Hong Kong dollars in cash. The project has recorded a total of 238 transactions this week, with an overall clearance rate of 93%, recording a total of 261 transactions and cashing out nearly 3 billion Hong Kong dollars, with an average price per square foot of approximately 22,500 Hong Kong dollars.