Hong Kong, Sept 26, 2025 (AFP) - Hong Kong's New World Development posts $2.1 bn loss on falling revenue

NAMPA / AFP

2025-09-26

Debt-heavy Hong Kong property firm New World Development reported an annual loss of $2.1 billion dollars on Friday, its second consecutive year of losses, after a sharp decline in revenue. New World, run by Hong Kong tycoon Henry Cheng's family empire, reported its first annual loss in two decades last year and has one of the highest debt burdens among the city's developers. The property giant has been grappling with weak property markets in both......

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