NEW CENTURY GP (00234) announced its annual performance with a net loss of HK$28.46 million attributable to shareholders, representing a 48.9% narrowing year-on-year.

NEW CENTURY GP (00234) announced its annual performance for the year ended on March 31, 2026. The revenue was 66.796 million Hong Kong dollars, a decrease of 26% compared to the previous year. The company's owners' share of the loss was 28.46 million Hong Kong dollars, a decrease of 48.9% compared to the previous year. Basic loss per share was 0.49 Hong Kong cents. The decrease in losses during the period was mainly due to (i) a decrease in fair value loss of the group's investment properties in Hong Kong, and (ii) a decrease in net impairment losses on receivables, loans and debt securities. The positive impact of the above factors was partially offset by a significant decrease in interest income from lending activities. Since the second quarter of 2025, the residential property market has started to rebound, leading to an increase in cases of borrowers selling their mortgaged properties to repay their loans. This, coupled with intense competition from traditional banks, has resulted in a decrease in mortgage loan portfolio.