New World Group personnel changes, K11 Hotels clarifies that the group and brand will not be sold, New World stock price once rose over 15%

Earlier, foreign media cited sources indicating that the chairman of New World (017), Cheng Ka-shun, is exploring the possibility of selling part of the Rosewood Hotel Group's assets. Recently, the market has also reported that Marriott International is planning a strategic acquisition of Rosewood Hotels, even suggesting that Marriott has internally named the acquisition project the Pegasus Plan. However, the Rosewood Hotel Group responded to the media, stating that the group and its brands will not be sold, and all hotels will continue to operate as usual, "We will steadfastly fulfill our long-term commitments to all stakeholders." Reports indicate that a letter from Marriott International's legal department circulated in the market, instructing the team to submit all necessary legal documents to the U.S. Federal Trade Commission and the U.S. Department of Justice by February 28 or earlier. It specifically warned that the transaction involving the Rosewood Hotel Group is closely intertwined with the stock prices of its connected companies, New World (017) and Chow Tai Fook (1929), and any delays or uncertainties will exacerbate volatility. Notably, New World shares experienced unusual movements this morning, with New World Department Store China (825) rising 6.9% to HKD 0.31; the same company's New World Development (017) even rose over 15% at one point, peaking at HKD 9.5, and continued to rise over 12% to close at HKD 9.24. Huang Shaomei Temporarily Takes Charge of New World Department Store China On the other hand, New World Department Store China announced personnel changes after yesterday's market close. The announcement stated that the executive director and CEO, Xie Huifang, has resigned to devote more time to personal development, effective from February 14, and will no longer serve as a member of the executive committee, nomination committee, and remuneration committee under the board. Under the transitional arrangement, the company's vice chairman and executive director, as well as the chairman of the executive committee under the board, Huang Shaomei, will be responsible for the overall leadership of the group's daily management and operations, providing strategic guidance to the management team, effective from January 14. On another note, several major banks have recently expressed optimism about property prices, and local real estate stocks have also shown improvement. In addition to New World, New World Development (016) rose over 2% in half a day, Sun Hung Kai Properties (083) rose 1.9%, and Cheung Kong (1113) also rose 1.5%. Related articles: Citigroup is optimistic about the Hong Kong property market, raising its price forecast to an 8% increase, expecting real estate stocks to outperform rental stocks. Morgan Stanley indicates that the Hong Kong property market has regained an upward cycle after 8 years, expecting residential property prices to rise by 10% this year