NWS Holdings Ltd
OTC:NWSZF

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NWS Holdings Ltd
OTC:NWSZF
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Price: 1 USD Market Closed
Market Cap: 4B USD

NWS Holdings Ltd
Investor Relations

NWS Holdings Ltd., a prominent player in the infrastructure and services sector, operates at the intersection of essential services and strategic investments. The company is rooted in a diverse portfolio that spans across transportation, construction, environment, and insurance. At the heart of its operations is the ability to capitalize on large-scale projects and leverage its expertise to ensure efficiency and profitability. For instance, its transportation segment, which includes road and port operations, is a vital artery for Hong Kong's connectivity, facilitating everything from public convenience to regional trade. Through these infrastructural projects, NWS Holdings generates a robust stream of revenue, ensuring its foothold in critical sectors that form the backbone of urban and suburban development.

Additionally, NWS Holdings extends its prowess into facilities management and insurance, bridging gaps in essential services and risk management. By managing a suite of corporate operations, including toll roads and logistics, the company not only secures steady revenue through long-term contracts but also strategically positions itself in sectors with recurring demand. Its insurance business, meanwhile, provides a cushion against market volatility through risk-adjusted returns. In essence, NWS Holdings crafts a business model that integrates core infrastructure investments with a service-oriented approach, paving the way for sustainable financial performance and growth.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Sep 25, 2025
AI Summary
Q4 2025

Profit Growth: Annual operating profit (AOP) increased by 7% year-on-year to HKD 4.5 billion, with profit attributable to shareholders up 4% to HKD 2.2 billion.

Solid Dividend: The Board approved a total dividend of HKD 0.95 per share for the year, including a special dividend, maintaining a 22-year track record of payouts and offering an 8.3% yield on ordinary dividends.

Financial Services Expansion: The company rebranded its insurance business as Financial Services, completed two acquisitions (uSmart and Blackhorn), and expanded offshore insurance to target high net worth clients.

Logistics Strategy: Logistics assets were rebranded as CTF Logistics, with a focus on acquiring undervalued assets in the Greater Bay Area and Yangtze River Delta; occupancy recovery is expected after a strategic tenant reshuffle.

Construction Focus: The construction segment is capitalizing on a rising share of government-related projects (61% of order book) amid fewer competitors, aiming for steady growth.

Exchangeable Bond Issued: A HKD 2.2 billion exchangeable bond was announced, set at a 0.75% coupon, providing funding at a negative yield and flexibility for a potential gain.

ESG Progress: Achieved a 19% reduction in Scope 1 and 2 emissions since FY 2023 and expanded green financing to 39% of total funding.

Portfolio Optimization: The company disposed of several non-core businesses and investments, maintaining a focus on stable cash flow and resilient earnings across a diversified portfolio.

Key Financials
Annual Operating Profit (AOP)
HKD 4.5 billion
Adjusted EBITDA
HKD 7.3 billion
Profit Attributable to Shareholders
HKD 2.2 billion
Dividend per Share (Total)
HKD 0.95
Ordinary Dividend per Share
HKD 0.65
Dividend Yield
8.3%
Cash on Hand
HKD 20.2 billion
Total Available Liquidity
HKD 30 billion
Net Debt
HKD 14.7 billion
Net Gearing Ratio
37%
Net Debt to Adjusted EBITDA Ratio
2x
Average Borrowing Cost
4.1%
AOP – Road Segment
HKD 1.4 billion
AOP – Financial Services
HKD 1.24 billion
AOP – Logistics
HKD 740 million
AOP – Construction
HKD 790 million
AOP – Facility Management
HKD 89 million
AOP – Strategic Investment
HKD 237 million
CSM Release
HKD 1.1 billion
CSM Balance (Net of Reinsurance)
HKD 9.2 billion
Investment Yield (Fixed Income Portion)
4.6%
VONB Margin
30%
Solvency Ratio (Financial Services)
279%
Embedded Value (Insurance)
HKD 25 billion
Investment Portfolio AUM
HKD 91 billion
ATL Occupancy Rate (Hong Kong Logistics)
80%
Occupancy Rate (7 Mainland Logistics Properties)
87%
Suzhou Logistics Occupancy
40%
Gross Value of Construction Contracts on Hand
HKD 58 billion
Construction Backlog
HKD 38 billion
Newly Awarded Construction Contracts
HKD 23.9 billion
Government-Related Projects (Construction)
61% of order book
GHK Hospital Bed Utilization
HKD 337 million
GHK Hospital Average Occupancy Rate
64%
KTSP Shopping Mall Occupancy
80% (end of financial year), now over 90%
Scope 1 & 2 Emissions Reduction
19% reduction versus FY 2023
Green Financing Proportion
39%
Earnings Call Recording
Other Earnings Calls
2025
2022
2021

Management

Dr. Kar-Shun Cheng BA, DBA(Hon), GBM, GBS, LLD(Hon), MBA
Executive Chairman of the Board
No Bio Available
Mr. Chi Hang Ho B.Com., FCPA, L.L.B.
Group Co-CEO & Executive Director
No Bio Available
Mr. Jim Lam CPA
Group Chief Operating & Financial Officer and Executive Director
No Bio Available
Mr. Chi Leong Cheng
Executive Director
No Bio Available
Ms. Sze Wai Fun
Head of Group Investor Relations
No Bio Available
Mr. Wai Yau Tang
Company Secretary & Head of Legal
No Bio Available
Mr. Tat Chi Chu
Managing Director of Hip Hing Construction Company Limited
No Bio Available
Ms. Yuk Har Lee
Managing Director of Hong Kong Convention & Exhibition Centre (Management) Limited
No Bio Available
Ms. Oi-ling Ngai
Head of Group ESG
No Bio Available

Contacts

Address
28/F, New World Tower, 18 Queen's Road Central, Central
Contacts
+85221310600.0
www.nws.com.hk