Great Wall Securities: New investment in Henderson Land Development (00016.HK) will drive growth in the 2026 fiscal year. Target price is HK$103.

According to the Wisdom Financial APP, Dah Sing Securities released a research report stating that New World Development (00016.HK) is expected to see a 0.5% increase in net profit for the 2025 fiscal year, which is in line with expectations. The strong profit from Chinese property development and a decrease in financial costs are the main factors driving this growth. The performance of investment properties varies, with Hong Kong office buildings outperforming the market. The International Commerce Centre (ICC) in Hong Kong and the International Trade Centre (ITC) in Shanghai are expected to be completed and operational in the 2026 fiscal year, supporting recurring income growth. Management has committed to maintaining a dividend payout ratio of 50%. The bank maintains a "Buy" rating for New World Development with a target price of 103 Hong Kong dollars, implying a forecasted earnings yield of 4% for the 2026 fiscal year.