New World: The "K11" brand has no affiliation with the "K11 by AC" business.

On September 26, at the annual performance release conference of New World Development for the fiscal year 2025, the media asked about the relationship between K11 by AC Group, founded by former New World Executive Director Adrian Cheng, and K11 under New World Group. The management of New World Group stated that K11 is a registered trademark and brand fully owned by New World Group. Dr. Adrian Cheng, after leaving the group, obtained the group's permission to use the "K11 by AC" brand. The investments, operations, and businesses of K11 by AC, including but not limited to light asset management projects, are currently not related to New World Group.