To Our Shareholders,

“Benefiting from Society, Giving back to Society” has always been the philosophy of New World Group, because we firmly believe that when China succeeds, Hong Kong will prosper and we will benefit. Therefore, the Group is determined to achieve business success while furthering social progress, and creating positive impact on society.

For more than half a century, New World Group has been actively participating in urban development, growing together with cities, and improving people’s livelihood. Recalling more than two decades ago when the Group took on the important and challenging task of building the Hong Kong Convention and Exhibition Centre II to become the main venue for the Celebration of the Reunification of Hong Kong with China. With our great effort and determination, we achieved success and can still remember the scene clearly and enjoy that honor. Till today, the Group still adheres to the mission of urban development while developing its business. In Hong Kong, we actively promote the development of farmland and building the “Northern Metropolis”. New World China, the Group’s flagship property arm in Mainland China, set up its headquarters in Guangzhou last year, which has played a positive role in the promotion and development of projects in various cities on the Mainland, as well achieving talent localisation. We will continue to uphold the mission of building urban landmarks, leading the improvement of living environment, quality of life and urban vitality.

Meanwhile, K11 is the driving force of the Group, where art and commerce merge in an enjoyable and inspiring way, creating a dynamic and stage-like shopping experience. We look forward to FY2026, when 28 K11 projects will blossom in Hong Kong and the Mainland, bringing this unique shopping experience to all over the country. The Group commits to sustainable development and creation of shared value for society. We have formulated the “Sustainability Vision 2030”, focusing on four pillars: Green, Wellness, Smart and Caring. In addition, at the end of 2021, we founded a not-for-profit social housing enterprise “New World Build for Good” to relieve the young generation’s pressure on home ownership, and solve the problems of people’s livelihood in Hong Kong.

2022 is a challenging year for the real estate industry under the backdrop of the pandemic and global economic instability. "Pursuing the Path of High-Quality Development with Steady and Sustainable Growth" is the development pace that the Group has always adhered to, and also the core of our strategy, which has led the Group come through ups and downs in various cycles for more than 50 years. Today, in the face of such a complex and volatile economic environment, it is still the belief of "stability" that leads the Group through cycles and braves the wind and waves.

Looking forward, New World Group will continue to contribute to Hong Kong’s growth and serving the needs of the country, integrate into the overall development of the country and open up new development areas for economic growth and social advancement. The Group will bring new growth momentum to build a better future, and work together with the nation to ensure steady and sustainable growth.

Dr. Cheng Kar-Shun, Henry
Chairman
Hong Kong, China, 30 September 2022