New World Development (0017) former chief executive Adrian Cheng Chi-kong shared a rare photo on Instagram with his father, chairman Henry Cheng Kar-shun, on Monday to mark his 47th birthday, putting an end to rumors circulating about a rift between them.
In the posted photograph, Henry and Adrian are seen sitting at a dining table with smiles. Two birthday cakes rest on the table, with chocolate plaques bearing the inscription "Happy Birthday To Adrian."
Henry rarely makes public appearances outside shareholder meetings or high-profile commercial and political events. The snapshot shared alongside his eldest son offers a rare glimpse into the family’s private life.
Adrian was initially the highly anticipated third-generation successor to the New World empire.
He joined New World Development as an executive director in 2007 at age 28. The following year, he spearheaded the launch of the K11 brand, pioneering a "cultural retail" model that integrated art, culture, and nature into commercial real estate.
In September 2024, he stepped down as executive vice-chairman and chief executive officer of New World Development, transitioning to the role of a non-executive director. He subsequently resigned from various other positions within the group, including roles at Chow Tai Fook Jewellery (1929) and CTF Services (0659).
At the time, Henry publicly expressed his full respect and support for this decision, thanking his son for his years of hard work and voicing his confidence that Adrian would continue to drive profound, positive change in society.
In 2025, Adrian resigned as non-executive director of New World Development. By the end of June, he also stepped down from his directorship at the family’s flagship holding company, Chow Tai Fook Enterprises, effectively phasing himself out of the core structure of the family’s publicly listed companies.
That same year, Adrian Cheng launched conglomerate ALMAD Group and its "K11 by AC" brand, pivoting to an asset-light management model.
