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Cheng Jiachun: reducing debt is the top priority, no consideration of acquisitions for now.
New World Dev (00017.HK) held a shareholder meeting today (21st), Chairman Cheng Kar-Shun reiterated that the company's current debt level is high, the primary task is to reduce debt, and how to increase cash flow, adding that if debt can be reduced, dividends will be restored later. In addition, a shareholder proposed at the meeting whether to consider privatizing Lane Crawford (00825.HK), believing that the stock is trading low and difficult to cash out. Cheng Kar-Shun also stated that the current goal is to reduce debt and not consider any acquisitions or situations that may affect cash flow.
Home Prices Set to Rise in Hong Kong, Singapore, Australia in 2025
The transaction of second-hand houses in Hong Kong is slowing down, and the CSI has once again fallen below the 50-point threshold.
Yang Mingyi, Senior Joint Director of the research department of CRIC, pointed out that the CRIC Broker Index CSI (residential sale price) latest report is 49.36 points, a decrease of 1.79 points from last week's 51.15 points.
On a single day, there was a massive purchase of 13.5 billion Hong Kong dollars! Southern capital aggressively rushes to invest, when will the Hong Kong stock market welcome investment opportunities?
Southbound funds are accelerating their purchases of Hong Kong stocks.
Over the past weekend, "The Met. Sublime II" in Hung Fuk Bridge recorded 3 transactions. There is a discrepancy in the transaction data of the top ten estates between two major agencies on weekends.
Last weekend, there were no new properties launched in the city, with most transactions involving remaining stock. The property market focus returned to the secondary market, with the top ten blue-chip estate transactions in Hong Kong reaching double-digit levels again, but Chung Yu recorded only 6 transactions over the weekend, hitting a new low in about 4 months. Asia Standard (00129.HK)'s "Hoi Du II" in Hung Shui Kiu under the Group recorded a total of 3 transactions over the weekend, including unit A09 on the 2nd floor of project 3, with a usable area of 503 square feet, transacting at 5.5741 million yuan, price per square foot 11,082; and unit B02 on the 8th floor of project 1, with a usable area of 452 square feet, transacted at 4.6899 million yuan, price per square foot 10,3
The "Hong Tower" at Kai Tak, "Sky Cascade", has sold 101 units, with upcoming launches of sea view units.
Developed in collaboration by Hang Lung Properties (00012.HK), China Overseas (00688.HK), New World Dev (00017.HK), Henderson Land Group, Empire Group, and Wheelock Properties, the "Sky Oasis" located in Kai Tak opened its new show flats for media visitation today. The developer revealed that a new batch of seaview units will be released tomorrow. Ronnie Chan, Director and General Manager of Sales (2) at Hang Lung Properties, mentioned that since the opening of the show flats at "Sky Oasis," a total of 40 units have been sold, totaling 1.55 billion yuan in cash. With sales up to date, the project has sold 101 units, totaling 4.1 billion yuan in cash, with an average price per square foot of 4,10.
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