New World Development (NWWDF) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, friends of the investment world. Welcome to the All-Year Employee Online Analysis Conference of the New World Economic Year 2023. I am Patrick Chong, the Director of the Investment Relations, the host of today's conference. First, let me introduce the managers of the conference, including the Vice President and Executive President of the New World Economic Year, Mr. Zheng Zhiguang, Adrian. If you have any questions, please type them in the chat box in the webcast. We will pick some questions to answer. Please welcome Adrian. First of all, I would like to clarify that the market is in a very sensitive state. There are also a lot of outside rumors that have caused a lot of vibrations. There are rumors about the loss of wealth in the market. I suspect that someone has borrowed the opportunity to control the market. We have a three-month blackout period, so we cannot take any actions in the market. and made some false statements. But we immediately made a statement and reported it to the law enforcement agency. So I hope that with this opportunity, we can explain it once and for all. Secondly, we can tell everyone about our future strategies. First of all, the financial strength of the New World is very stable. The reserve of cash is very strong. The first-hand cash can be used for funds up to 910 billion HKD. In addition, in the past six months, the group has received a low-cost bank loan of 3 billion HKD. The interest rate is also at a high of 1.1%. and the total interest rate of the group is 4%. We can see that our financing capacity is quite strong. There are many rumors out there, saying that our bank has cut lines. I can tell you that the group has been doing business with 60 banks for a long time, for almost 50 years. Our relationship with those 60 banks is...