New City Development Group Limited (0456.HK) is an investment holding company principally engaged in property development and investment, as well as the operation of lifestyle supermarket retail in the People's Republic of China; it also sells buses and provides general management services. The Group operates through two main segments, property development and investment, which encompasses the development and leasing of residential and commercial properties including investment properties in Guangzhou and projects under development in Luoyang and Zhuhai, and operation of lifestyle supermarket retail, which generates revenue from retail merchandise sales and related services in the PRC. Its properties under development include the Luoyang project, for which it received construction approval in September 2023 and submitted an application in September 2024 to change land use to mixed residential and commercial pending final government approval as of December 2024, and the Zhuhai project in the Greater Bay Area, where development pace is being monitored amid PRC property market adjustments. The Group conducts its operations primarily in the PRC with over 90% of non-current assets located there, targets rental and retail customers, and maintains investment properties generating rental income and related management services through its key subsidiary Guangdong Changliu Investment Company Limited. Incorporated in 1998 in the Cayman Islands and headquartered at Flat D, 17/F, MG Tower, 133 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong, the company changed its name from New City (China) Development Limited in May 2012. Recent developments include new tenancy agreements entered into on 13 May 2024 for office premises, car parking spaces, and staff quarters in Hong Kong with connected parties for terms commencing 1 June 2024 constituting continuing connected transactions; reduction in supermarket business participation in 2024 to optimize channels amid macroeconomic adjustments; issuance of 21 million new shares on 7 February 2025 at HK$0.325 each raising net proceeds of HK$6.625 million for working capital; impairments recognized in 2024 on property under development, prepayments, intangible assets, and receivables; and ongoing legal proceedings related to prior acquisition disputes with stays of execution granted pending retrials.