Hong Kong’s New World Development announced its 2024/2025 interim results, reporting a 1.6% YoY drop in revenue to HK$16.79 billion ($2.15 billion) for the second half of 2024. Core operating profit declined 18% to HK$4.42 billion ($563 million), leading to a shareholder loss of HK$6.63 billion ($848 million). Property development in Hong Kong contributed HK$1.73 billion ($221 million) in revenue, while mainland China brought in HK$6.64 billion ($851 million). New World plans to open several major Mainland projects in 2025, including K11 Ecoast in Shenzhen.