New World Development reported a HK$16.3 billion ($2.1 billion) loss for FY2025, mainly due to property revaluation, as revenue fell 22.6% to HK$27.7 billion ($3.5 billion). Core operating profit slipped 12.8% to 6.0 billion HKD ($770 million). The group cut total debt to HK$146.1 billion ($18.7 billion) and net debt to HK$120.1 billion ($15.4 billion), while securing HK$88.2 billion ($11.3 billion) in refinancing. Contracted sales hit HK$26 billion ($3.3 billion), meeting the target, with 14 billion RMB ($1.9 billion) from the mainland. The FY2026 target is lifted to HK$27 billion ($3.5 billion). K11 malls drove a 4% increase in investment property earnings.