---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/23618235.md"
description: "$NEW WORLD DEV(00017.HK) New World Development's stock dropped over 10% today. How could such a big event go unnoticed? Summary of what happened:1. New World Development issued a profit warning: Expected to shift from profit to loss in FY2024, with a net loss of up to HKD 20 billion2. New World Development's debt ratio reached 87%3. New World Development plans to sell Tsim Sha Tsui's K11 ART MALL for survival, rumored price at HKD 9 billion4. Chow Tai Fook Enterprises (the board of the Cheng family) established a CEO office, but New World Development's helmsman Adrian Cheng (eldest son) was not included5. Adrian Cheng remains obsessed with art Personal interpretation:The bearded artist (Adrian Cheng) was "deposed as heir." It's still too early to say if "wealth never survives three generations" will come true again."
datetime: "2024-09-02T03:06:35.000Z"
locales:
  - [en](https://longbridge.com/en/topics/23618235.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/23618235.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/23618235.md)
author: "[躺平致富](https://longbridge.com/en/profiles/8547308.md)"
---

# $NEW WORLD DEV(00017.HK) New World Development's s…


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## Comments (1)

- **laurence · 2024-09-02T06:06:08.000Z · 👍 1**: 😱