New World Development posts HK$28.15 billion net loss for fiscal 2026
The loss compares with HK$16.3 billion a year earlier, after the developer had told investors its losses were narrowing.
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New World Development reported a net loss of HK$28.15 billion for the year ended June 30, 2026, compared with a loss of HK$16.3 billion the year before.
The full-year shortfall is nearly double the prior year's loss. It comes after the developer had told investors that losses were narrowing: in the first half of fiscal 2026, the six months to December 31, New World reported a net loss of HK$3.73 billion, which it said had narrowed 44% from a year earlier, according to the South China Morning Post.
As of that first half, total debt stood at about HK$144.3 billion and net debt at about HK$122.7 billion, according to the company's interim report cited by MarketScreener. The board decided not to declare an interim dividend for the year. In December 2025, New World completed a debt exchange covering perpetual securities and guaranteed notes totalling about HK$20 billion, the interim report said.
The fiscal 2026 loss marks a second consecutive annual loss, after New World posted its first annual loss in two decades in fiscal 2025, according to Macau Business, which cited AFP. The same report described New World as carrying one of the heaviest debt burdens among Hong Kong developers amid weak property markets in both Hong Kong and mainland China. Sister company New World Department Store China separately warned it expects to swing to a loss of up to about HK$780 million for fiscal 2026, from a HK$25.3 million profit the year before, according to a filing reported by Futu News.