New World Development (NWWDF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. Welcome to New World Development's FY2026 Interim Presentation, Online Analyst and Investors Meeting. I am IR Director, Patrick Chong. I am the moderator for this meeting. First of all, let me introduce our management in attendance. They are New World Development Executive Director and CEO, Ms. Echo Wang. New World Development Executive Director, Mr. Sidnam Hoy. New World Development Executive Director and CFO and Joint Company Secretary, Mr. Edward Lau. New World Development Executive Director and New World China CEO, Mr. Benny Chan. If you have any questions, please feel free to type into the chat box on webcast. During Q&A session, I will read out your questions. Now I will pass the floor to Echo. Friends from the investment community, greeting. A year ago, at the interim results announcement for FY 2025, when I first appeared before you as CEO, I proposed seven strategies to reduce debt. Namely, one, accelerate property sales. Two, sell non-core assets. Three, unlock the value of farmland. Four, increase rental return. Five, streamline costs. Six, suspension of dividend payments. Seven, proactive treasury management. At the same time, at last September's annual results announcement, I also pointed out that after completing HK$88.2 billion in refinancing and implementing a series of measures by the group, our company's situation has begun to stabilise. Today, I can tell you that our company's operations and finances remain stable. The seven strategies to reduce debt have worked. Among them, I would like to highlight three points. First, our business continues to improve. Our contracted sales in the first half reached HK$13.8 billion, more than half of our full-year target of HK$27 billion. Leasing for our shopping malls and office spaces has also s...