Cheng Yu-tung Family Trusts Raise Ownership in CTFE's Parent Company to 90.52%
Shareholding Changes: The Cheng Yu-tung family's two trusts increased their stake in Chow Tai Fook (Holding) Ltd (CTFH) from 81.03% to 90.52% as of December 5, 2025, marking a total increase of 9.49 percentage points.
Short Selling Activity: As of January 26, 2026, short selling for CTFH was reported at $22.47 million with a ratio of 17.75%, while Chow Tai Fook (01929.HK) had a short selling amount of $185.95 million and a ratio of 52.579%.
Internal Control Structure: The shareholding disclosure on December 5, 2025, indicated changes in the internal control structure of CTFH within the family trust, aligning with the recent shareholding adjustments.
Market Outlook: JPMorgan has upgraded NEW WORLD DEV to Neutral, anticipating a rebound in developers' earnings in the next fiscal year.
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NEW WORLD DEVELOPMENT: K11 ELYSEA in Shanghai Achieves Over 50% Pre-leasing Rate; Occupancy Expected to Start in Second Half of 2026
Stock Performance: NEW WORLD DEV (00017.HK) saw a stock increase of 1.297%, with short selling amounting to $35.87M and a ratio of 10.425%.
K11 ELYSEA Project: The K11 ELYSEA mixed-use project in Shanghai is set to begin intake in the second half of 2026, with a pre-leasing rate exceeding 50% as of January 2026.
Sales Growth: The K11 locations in mainland China experienced significant growth in footfall and sales since late December 2025, with average daily footfall up over 10% YoY and overall sales increasing nearly 20% YoY.
Category Performance: Notable sales growth was observed in specific categories, with art toy IP sales soaring nearly 44% YoY and electronics sales more than doubling.
NEW WORLD DEV Drops 12%; CTFE Clarifies Potential Investment is Not a General Offer
Stock Performance: NEW WORLD DEV (00017.HK) opened 2.6% lower and is currently trading at HK$9.99, down 12.21%, with significant short selling activity amounting to $65.12M.
Investment Proposals: The company has received proposals from potential investors for possible investment, but none are aimed at a general offer for shares, and discussions are ongoing with no agreements reached yet.
Market Rumors: There are rumors that NWD may experience a change in control, with Blackstone potentially becoming the largest single shareholder, replacing Chow Tai Fook Enterprises (CTFE).
Analyst Outlook: Citi has indicated a positive outlook for HK developers' earnings per share (EPS) in 2026-2027, recommending several companies including SHK PPT and SINO LAND.
HSI Drops 580 Points as Commodity Stocks Decline; CSPC Pharma and CKH Holdings Weigh Down Index
Hong Kong Stock Market Decline: Hong Kong stocks experienced a significant decline, with the HSI dropping 580 points (2.08%) to close at 27,387, while the HSCEI and HSTECH also fell by 2.5% and 2.1%, respectively, amid a total market turnover of $301.612 billion.
Gold and Resource Stocks Performance: Spot gold prices fell over 5%, impacting several gold mining stocks, which tumbled between 10-14%. Resource stocks like Jiangxi Copper and MMG also saw declines of 9-10%, with Jiangxi Copper's short selling ratio reaching 28.3%.
Pharmaceutical Sector Developments: CSPC Pharma's stock dropped 10.2% despite a partnership with AstraZeneca for innovative medicines, involving an upfront payment exceeding $9.3 billion. Other pharma stocks also faced declines ranging from 3.3% to 4.9%.
Corporate News and Market Rumors: CKH Holdings fell 4.6% following a court ruling on port contracts, while New World Development's share price rose 2.2% amid rumors of a potential change in ownership involving Blackstone.
HSI Drops 498 Points at Noon; Commodity Shares Tumble; CSPC Pharma Falls Over 12%
Market Reaction to Fed Chair Nominee: The DXY rose following President Trump's announcement of the Fed Chair nominee, while the Hong Kong stock market experienced significant declines, with the HSI dropping 498 points or 1.8% by the morning session's close.
Gold and Mining Stocks Performance: Gold prices fell over 3%, leading to substantial losses in mining stocks such as SD GOLD and ZIJIN GOLD, which plunged 12.9% and 10% respectively, alongside other mining companies experiencing similar declines.
Pharmaceutical Sector Developments: CSPC PHARMA's stock plummeted 12.5% despite a partnership with AstraZeneca for drug development, which included an upfront payment exceeding HKD9.3 billion.
Corporate News and Market Rumors: The Panama Supreme Court ruled contracts for two local ports unconstitutional, negatively impacting CKH HOLDINGS, while rumors of a potential ownership change at NEW WORLD DEV led to a 3.7% increase in its stock price.
Citi Increases Target Price for NEW WORLD DEV to HKD9.6, Maintains Sell Rating Due to Possible Corporate Actions
Company Actions and Ratings: New World Development (NWD) is focused on refinancing and asset disposal, with Citi maintaining a Sell rating while raising the target price from HKD4.8 to HKD9.6, highlighting potential equity dilution risks from corporate actions.
Market Speculation: There are rumors regarding Blackstone Inc.'s potential takeover of NWD, which has generated market excitement about possible corporate actions that could impact share control and introduce downside risks.
BofAS: Blackstone's Possible Purchase of NWD Anticipated to Offer Short-Term Advantage to Developers
Blackstone's Potential Acquisition: Blackstone Inc. is reportedly considering acquiring a significant stake in New World Development (NWD), which could make it the largest single shareholder, as noted in a BofA Securities report.
NWD's Clarification and Market Impact: NWD clarified that no agreement has been finalized, but it acknowledged receiving investment inquiries. BofA Securities believes this reflects growing confidence in Hong Kong's real estate market, potentially boosting stock prices in the short term.
NEW WORLD DEVELOPMENT: K11 ELYSEA in Shanghai Achieves Over 50% Pre-leasing Rate; Occupancy Expected to Start in Second Half of 2026
Stock Performance: NEW WORLD DEV (00017.HK) saw a stock increase of 1.297%, with short selling amounting to $35.87M and a ratio of 10.425%.
K11 ELYSEA Project: The K11 ELYSEA mixed-use project in Shanghai is set to begin intake in the second half of 2026, with a pre-leasing rate exceeding 50% as of January 2026.
Sales Growth: The K11 locations in mainland China experienced significant growth in footfall and sales since late December 2025, with average daily footfall up over 10% YoY and overall sales increasing nearly 20% YoY.
Category Performance: Notable sales growth was observed in specific categories, with art toy IP sales soaring nearly 44% YoY and electronics sales more than doubling.
NEW WORLD DEV Drops 12%; CTFE Clarifies Potential Investment is Not a General Offer
Stock Performance: NEW WORLD DEV (00017.HK) opened 2.6% lower and is currently trading at HK$9.99, down 12.21%, with significant short selling activity amounting to $65.12M.
Investment Proposals: The company has received proposals from potential investors for possible investment, but none are aimed at a general offer for shares, and discussions are ongoing with no agreements reached yet.
Market Rumors: There are rumors that NWD may experience a change in control, with Blackstone potentially becoming the largest single shareholder, replacing Chow Tai Fook Enterprises (CTFE).
Analyst Outlook: Citi has indicated a positive outlook for HK developers' earnings per share (EPS) in 2026-2027, recommending several companies including SHK PPT and SINO LAND.
HSI Drops 580 Points as Commodity Stocks Decline; CSPC Pharma and CKH Holdings Weigh Down Index
Hong Kong Stock Market Decline: Hong Kong stocks experienced a significant decline, with the HSI dropping 580 points (2.08%) to close at 27,387, while the HSCEI and HSTECH also fell by 2.5% and 2.1%, respectively, amid a total market turnover of $301.612 billion.
Gold and Resource Stocks Performance: Spot gold prices fell over 5%, impacting several gold mining stocks, which tumbled between 10-14%. Resource stocks like Jiangxi Copper and MMG also saw declines of 9-10%, with Jiangxi Copper's short selling ratio reaching 28.3%.
Pharmaceutical Sector Developments: CSPC Pharma's stock dropped 10.2% despite a partnership with AstraZeneca for innovative medicines, involving an upfront payment exceeding $9.3 billion. Other pharma stocks also faced declines ranging from 3.3% to 4.9%.
Corporate News and Market Rumors: CKH Holdings fell 4.6% following a court ruling on port contracts, while New World Development's share price rose 2.2% amid rumors of a potential change in ownership involving Blackstone.
HSI Drops 498 Points at Noon; Commodity Shares Tumble; CSPC Pharma Falls Over 12%
Market Reaction to Fed Chair Nominee: The DXY rose following President Trump's announcement of the Fed Chair nominee, while the Hong Kong stock market experienced significant declines, with the HSI dropping 498 points or 1.8% by the morning session's close.
Gold and Mining Stocks Performance: Gold prices fell over 3%, leading to substantial losses in mining stocks such as SD GOLD and ZIJIN GOLD, which plunged 12.9% and 10% respectively, alongside other mining companies experiencing similar declines.
Pharmaceutical Sector Developments: CSPC PHARMA's stock plummeted 12.5% despite a partnership with AstraZeneca for drug development, which included an upfront payment exceeding HKD9.3 billion.
Corporate News and Market Rumors: The Panama Supreme Court ruled contracts for two local ports unconstitutional, negatively impacting CKH HOLDINGS, while rumors of a potential ownership change at NEW WORLD DEV led to a 3.7% increase in its stock price.
Citi Increases Target Price for NEW WORLD DEV to HKD9.6, Maintains Sell Rating Due to Possible Corporate Actions
Company Actions and Ratings: New World Development (NWD) is focused on refinancing and asset disposal, with Citi maintaining a Sell rating while raising the target price from HKD4.8 to HKD9.6, highlighting potential equity dilution risks from corporate actions.
Market Speculation: There are rumors regarding Blackstone Inc.'s potential takeover of NWD, which has generated market excitement about possible corporate actions that could impact share control and introduce downside risks.
BofAS: Blackstone's Possible Purchase of NWD Anticipated to Offer Short-Term Advantage to Developers
Blackstone's Potential Acquisition: Blackstone Inc. is reportedly considering acquiring a significant stake in New World Development (NWD), which could make it the largest single shareholder, as noted in a BofA Securities report.
NWD's Clarification and Market Impact: NWD clarified that no agreement has been finalized, but it acknowledged receiving investment inquiries. BofA Securities believes this reflects growing confidence in Hong Kong's real estate market, potentially boosting stock prices in the short term.
