星展发表研报指，新世界(00017.HK) 近期推出北角“皇都”获得热烈回响，项目的72%单位已售出，套现金额约32亿港元。自去年7月(现财年)起，新世界在本港已售出价值79亿港元的物业，占其全年度销售目标72%。在去年12月底止2025财年上半年，新世界在中国的合约销售额达到75亿元人民币，占其修订销售目标53%。
星展提及，新世界2025财年上半年的融资前现金流接近收支平衡，总债务按半年比较下降3.4%至1,465亿港元；短期债务减少94亿港元，至322亿港元。然而，由于赎回永续证券，净债务和杠杆比率略有上升。
星展认为，投资者将关注新世界的债务再融资情况，这将在决定该公司股价走向中发挥关键作用。该行将新世界目标价由6.82港元下调至4.61港元，维持“持有”评级。(js/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-04 16:25。)
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