New World Development (NWWDF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Welcome to the meeting of the New World Development and Intermediate Employment Analysts. My name is Patrick. I will be hosting today's meeting. First of all, I would like to introduce the management of today's meeting. First of all, we have Mr. Zheng Zhiguang. He is the Executive Vice President and CEO of the Group, and Mr. Ma Xiucheng is the Executive Director and CEO. Mr. Liu Fuqiang, CFO. If you have any questions, you can ask them on the webcast platform. We will respond to the selection questions. Next, I will hand over to Mr. Zheng Zhiguang. Hello, everyone. First of all, I would like to say a few words about the government's announcement yesterday on the full-scale settlement of the financial and budget case. This is a positive news for the Hong Kong real estate market and for the development of the new world. In addition, the Gold and Gold Administration will expand the relevant regulations of the bill, including the I believe it will attract a lot of real estate investors. For non-residential properties, there is a 60% to 70% increase in the total number of properties. This will be helpful for our private property sales, especially for the sale of properties on LCK Road 888 and Changsha Road. Our contract sales will be 20 to 25 billion Hong Kong dollars. Last year, after some of the government's decisions were made, in the last two months, the amount of payment increased by 20%. Now, the government has announced that it will make a comprehensive decision. We believe that the amount of payment In the next 1-2 weeks or months, it will increase by at least 4-5%. There are a few reasons. First, Hong Kong's local market is in dire need. With the suspension of interest rates, I believe the purchasing power of middle-class families will be release...