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Hong Kong conglomerate developer known for K11 lifestyle malls and mixed-use projects in HK and mainland China.
Hong Kong conglomerate developer known for K11 lifestyle malls and mixed-use projects in HK and mainland China.
Revenue splits between selling flats and renting out malls and offices, with flat sales lumpy because income arrives as projects are completed. The Cheng family, with Chow Tai Fook Enterprises, controls it, and financing has tightened since 2023, pushing it to refinance loans and sell assets.
In one line: A HK mixed-use developer under financial stress.
Moat: narrow (brand, installed base). Well-known K11 lifestyle-mall brand and long-held HK/China land bank.
Headquarters: Hong Kong · Founded: 1970 · Employees: 9,200
Size New World Development (0017.HK) is a Hong Kong Real Estate company (Real Estate Development) with a market value of $1.68B, the 460th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$5.22 on 6 Nov 2026.
Performance Over six months the shares fell 45.9%, against -8.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 9.8% over the last twelve months (peer median +1.4%); the operating margin is -7.7% (peer median 22.9%).
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | HK$20.8B | HK$20.8B | HK$27.7B | HK$35.8B | HK$54.6B |
| Revenue growth | — | -25% | -23% | -34% | — |
| Gross profit | HK$9.30B | HK$9.30B | HK$10.6B | HK$11.9B | HK$15.5B |
| EBITDA | -HK$359M | -HK$359M | HK$1.71B | HK$3.74B | HK$9.78B |
| Net income | -HK$28.1B | -HK$28.1B | -HK$16.3B | -HK$11.4B | HK$548M |
| Free cash flow | -HK$10.2B | -HK$10.2B | -HK$656M | -HK$13.2B | HK$373M |
| Capital expenditure | HK$1.96B | HK$1.96B | HK$4.21B | HK$6.05B | HK$11.0B |
| Total debt | n/a | HK$179B | HK$190B | HK$197B | HK$243B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| New World Development 0017.HK | $1.68B | -46% | +10% | -8% | n/a | n/a |
| Shk Ppt 0016.HK | $43.5B | -18% | +17% | 26% | n/a | n/a |
| Wharf (Holdings) 0004.HK | $7.92B | -32% | -1% | 41% | n/a | n/a |
| Henderson Land 0012.HK | $18.3B | -12% | +46% | 20% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0017.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.9% | +0.5% | 9th lowest of 21 |
| 6-month return | -45.9% | -8.8% | 2nd lowest of 20 |
| Distance from 52-week high | -58.0% | -18.5% | lowest of 21 |
| Revenue growth (TTM) | +9.8% | +1.4% | 8th highest of 20 |
| Operating margin | -7.7% | 22.9% | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| New World Development 0017.HK | Hong Kong | $1.68B | -46% | +10% | -8% | n/a | n/a | n/a |
| Jinke Property 000656.SZ | China | $1.68B | -24% | -87% | -1,642% | n/a | n/a | n/a |
| Realia Business RLIA.MC | Spain | $1.68B | -3% | +82% | 41% | n/a | n/a | n/a |
| Jeudan A/S JDAN.CO | Denmark | $1.66B | 0% | +3% | 62% | n/a | n/a | n/a |
| Greater Bay Area AI Computing Tech 1396.HK | Hong Kong | $1.70B | -41% | +76% | -6% | n/a | n/a | n/a |
| Sino Horizon 2923.TW | Taiwan | $1.65B | +40% | +63% | 47% | n/a | n/a | n/a |
| HIAG Immobilien HIAG.SW | Switzerland | $1.64B | -2% | +96% | 50% | n/a | n/a | n/a |
| Altra Fastigheter ALTRA.ST | Sweden | $1.64B | +18% | -2% | 64% | n/a | n/a | n/a |
| Greentown Service 2869.HK | Hong Kong | $1.74B | -9% | +13% | 7% | n/a | n/a | n/a |
| Greentown China 3900.HK | Hong Kong | $1.74B | -48% | +1% | 3% | n/a | n/a | n/a |
| GuocoLand F17.SI | Singapore | $1.75B | -16% | -24% | 7% | n/a | n/a | n/a |
| China-Singapore Suzhou Industrial Park Development 601512.SS | China | $1.75B | -23% | -32% | 22% | n/a | n/a | n/a |
| Shanghai Waigaoqiao Free Trade Zone 600648.SS | China | $1.60B | -15% | -3% | 8% | n/a | n/a | n/a |
| China Jinmao 0817.HK | Hong Kong | $1.77B | -45% | -8% | 5% | n/a | n/a | n/a |
| Dom Development DOM.WA | Poland | $1.59B | -6% | +14% | 24% | n/a | n/a | n/a |
| PPI Public Property Invest PUBLI.ST | Sweden | $1.78B | n/a | n/a | 70% | n/a | n/a | n/a |
| Castellana Properties Socimi YCPS.MC | Spain | $1.57B | -4% | +59% | 63% | n/a | n/a | n/a |
| Yuexiu Property 0123.HK | Hong Kong | $1.55B | -30% | -21% | 0% | n/a | n/a | n/a |
| Intershop ISN.SW | Switzerland | $1.82B | -9% | +5% | 79% | n/a | n/a | n/a |
| Grainger GRI.L | United Kingdom | $1.83B | +19% | -23% | 49% | n/a | n/a | n/a |
| GreatTown 600094.SS | China | $1.51B | -2% | -36% | 4% | n/a | n/a | n/a |