--- title: "CITIC International: New World is expected to improve its liabilities and receive a revaluation, raising the target price to HKD 11.96" type: "News" locale: "en" url: "https://longbridge.com/en/news/278808087.md" description: "Jiangyin International released a research report stating that New World Development's performance in the first half of the year met expectations, achieving HKD 13.8 billion in attributable contract sales, and is expected to launch over 1,300 units for sale in the second half of the year. The sales performance of Hong Kong properties is ideal, and the operation of the K11 brand project is stable. Jiangyin International believes that the company's attributable loss will significantly narrow, and the debt situation is expected to improve, raising the target price from HKD 9.7 to HKD 11.96, maintaining a \"Buy\" rating" datetime: "2026-03-12T02:26:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278808087.md) - [en](https://longbridge.com/en/news/278808087.md) - [zh-HK](https://longbridge.com/zh-HK/news/278808087.md) --- # CITIC International: New World is expected to improve its liabilities and receive a revaluation, raising the target price to HKD 11.96 According to the research report from Bank of Communications International, New World (00017.HK) achieved results in the first half of the year that met the bank's expectations, completing HKD 13.8 billion in attributable contract sales, exceeding half of the full-year target of HKD 27 billion. The property sales performance in Hong Kong was ideal, with attributable contract sales of HKD 10.3 billion during the period. Looking ahead to the second half of the year, more than 1,300 units are expected to be available for sale, and the projects in Fanling Ma Shi Road and Yuen Long Long Tin Estate have already commenced construction, providing a total of approximately 4,100 units, which are expected to be sold as early as the fiscal year 2027. The attributable contract sales in mainland China during the period amounted to RMB 3.2 billion. In terms of investment properties, the rental rates for K11 MUSEA and K11 Art Mall in Hong Kong remained high at 98% and 100%, respectively. Additionally, the group owns approximately 14.5 million square feet of agricultural land reserves awaiting conversion, which will be key to supplementing low-cost land reserves and releasing value in the future. Bank of Communications International believes that the attributable loss for New World shareholders will significantly narrow, as strong sales performance in Hong Kong and stable operations of K11 brand commercial projects demonstrate that the company's fundamentals are improving from a bottoming out. The current price-to-book ratio of approximately 0.14 has fully reflected market sentiment, and with potential external financing and a noticeable improvement in recent sales momentum, the company is expected to improve its debt situation and achieve a revaluation. Based on an estimated net asset value discount of 75%, the target price has been raised from HKD 9.7 to HKD 11.96, maintaining a "Buy" rating ### Related Stocks - [159768.CN](https://longbridge.com/en/quote/159768.CN.md) - [00017.HK](https://longbridge.com/en/quote/00017.HK.md) - [515060.CN](https://longbridge.com/en/quote/515060.CN.md) - [159940.CN](https://longbridge.com/en/quote/159940.CN.md) - [512200.CN](https://longbridge.com/en/quote/512200.CN.md) - [159707.CN](https://longbridge.com/en/quote/159707.CN.md) ## Related News & Research - [ZAWYA: Golden Town injects EGP 8bln into New Administrative Capital projects, continuing its success journey](https://longbridge.com/en/news/282824369.md) - [ZAWYA: Turkey’s Emlak Konut launches Saudi expansion with $400mln villa project in Makkah](https://longbridge.com/en/news/282234974.md) - [China's new home prices extend decline despite improvement in major cities](https://longbridge.com/en/news/282924123.md) - [Redsun Properties Posts RMB402 Million in Preliminary Q1 2026 Contracted Sales](https://longbridge.com/en/news/282165056.md) - [11:24 ETNoticias de Artmarket.com: Artprice confirma el éxito de Artprice News](https://longbridge.com/en/news/282869611.md)