Hong Kong’s New World shares drop 14% after first loss warning in 20 years

New World has been grappling with higher debt levels than its peers and a plunging share price — adding pressure on 44-year-old CEO Adrian Cheng, the third generation to run the business, to turn things around.

The company said late on Friday it expects to post a loss of as much as HK$20 billion ($3.35 billion) for the financial year ended in June — its first annual loss in two decades.https://t.co/AqRxDJc332

— Isaac (@watsnex101) September 2, 2024