New World Development faces stock decline and debt concerns while sticking to corporate strategy

New World Development's shares fell 6.7% to HK$5.27 on Wednesday, marking a 55% decline this year. This drop follows a record annual loss and increased debt, raising concerns about the company's financial stability. The company stated it will maintain its current corporate strategy despite these challenges. It also addressed rumors about its financial situation but did not provide specific details. New World appointed Echo Huang Shaomei as CEO on November 29, replacing Eric Ma Siu-cheung. The firm has significant debt, with HK$123.7 billion reported as of June 30, and is seeking waivers from lenders due to breached loan conditions.