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Finance

CK Asset Holdings Ltd.

Company Background

CK Asset Holdings is one of Hong Kong's foremost property developers. It is led by Li Ka-shing, one of Asia's richest men. formerly known as Cheung Kong Property Holdings, the company ranks among the top three based on property development revenue and has a market share of around 10% in the region's commercial real estate market. Its total assets exceed $23 billion. It engages in not only commercial properties, but also residential and industrial properties, hotel operations and project management.

 

The company was founded in 2015 as part of Li's broader group reorganization, with the intention of improving the group's fundraising efficiency and corporate value. The Hong Kong tycoon moved to integrate Cheung Kong Holdings and core unit Hutchison Whampoa. As a result, CK Hutchison Holdings oversees telecommunications companies, retail chains and infrastructure development operations, as well as energy and non-property assets. It grouped real estate assets into CK Asset.

 

Li's family and trust combined are CK Asset's largest shareholder, with a 30.15% stake. Deputy Chairman Victor Li Tzar-kuoi is Li's eldest son and successor at Cheung Kong group.

 

Business Summary

CK Asset Holdings Ltd. engages in the property development business. It also specializes in property management, infrastructure and utility assets, and aircraft leasing. The company was founded on January 2, 2015 and is headquartered in Hong Kong.

Financial Highlights

Dec 2020 HKDUSD
Revenue64,815M8,356.76M
Gross Profit28,932M3,730.27M
Operating income28,128M3,626.61M
Income before tax24,499M3,158.71M
Net income16,332M2,105.72M
EBITDA31,573M4,070.78M
Diluted EPS4.420.57
Dividends Per Share1.800.23
Total Assets520,703M67,154.12M
Total liabilities159,685M20,594.28M
Total equity354,639M45,737.15M
Operating cash flow23,205M2,991.87M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 70,157M 60,508M 54,556M 87,470M 64,815M
Gross Profit 27,087M 28,625M 26,157M 36,517M 28,932M
Operating income 25,775M 26,860M 24,519M 34,330M 28,128M
Income before tax 27,174M 38,127M 48,537M 36,748M 24,499M
Net income 19,415M 30,125M 40,117M 29,134M 16,332M
EBITDA 27,199M 29,655M 27,369M 37,813M 31,573M
Diluted EPS 5.05 8.07 10.85 7.88 4.42
Dividends Per Share 1.53 1.70 1.90 2.10 1.80
Total Assets 396,836M 453,339M 475,945M 508,057M 520,703M
Total liabilities 120,562M 155,829M 146,587M 158,495M 159,685M
Total equity 270,199M 291,552M 323,520M 344,253M 354,639M
Operating cash flow 38,291M 47,930M 14,117M 41,224M 23,205M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 9,037.98M 7,764.58M 6,960.85M 11,163.72M 8,356.76M
Gross Profit 3,489.48M 3,673.25M 3,337.39M 4,660.63M 3,730.27M
Operating income 3,320.46M 3,446.76M 3,128.40M 4,381.51M 3,626.61M
Income before tax 3,500.69M 4,892.58M 6,192.88M 4,690.11M 3,158.71M
Net income 2,501.14M 3,865.73M 5,118.56M 3,718.34M 2,105.72M
EBITDA 3,503.91M 3,805.42M 3,492.03M 4,826.04M 4,070.78M
Diluted EPS 0.65 1.03 1.38 1.00 0.57
Dividends Per Share 0.19 0.21 0.24 0.26 0.23
Total Assets 51,183.84M 57,991.76M 60,789.85M 65,204.06M 67,154.12M
Total liabilities 15,550.06M 19,933.86M 18,722.75M 20,341.25M 20,594.28M
Total equity 34,850.22M 37,295.74M 41,321.43M 44,181.44M 45,737.15M
Operating cash flow 4,932.84M 6,150.53M 1,801.20M 5,261.38M 2,991.87M

Valuation Measures

Dec 2020
PER9.00
ROA3.17%
ROE4.67%
Operating margin43.39%
Profit margin25.19%

Key executives

  • Chairman & Managing Director: Tzar Kuoi Li
  • Deputy Chief Manager-Information Technology: Man Fai Lum
  • Senior Manager-Administration: Po Lung Ng
  • Chief Corporate Affairs Officer: Wai Che Tong-Barnes
  • Executive Director & Deputy Managing Director: Tak Chuen Ip

Shareholders

  • LI FAMILY (31.8%)
  • Li Ka Shing Foundation Ltd. (2.9%)
  • First Eagle Investment Management LLC (1.7%)
  • The Vanguard Group, Inc. (1.6%)
  • Capital Research & Management Co. (Global Investors) (1.5%)
  • Li Ka Shing Global Foundation (1.3%)
  • Dodge & Cox (1.3%)
  • BlackRock Fund Advisors (1.2%)
  • Norges Bank Investment Management (1.0%)
  • LVM Castle Ltd. (0.9%)

Contact Details

Related Companies

  • CK Bidco Pty Ltd.
  • Panther Ventures Ltd. (Virgin Islands)
  • Bristow Investments Ltd. (Hong Kong)
  • Winchesto Finance Co., Ltd.
  • Vember Lord Ltd.
  • Team Ace Enterprises Ltd.
  • Swiss Investments Ltd.
  • Shanghai Heya Property Development Co., Ltd.
  • Queen Investments Ltd.
  • Hutchison Whampoa Properties (Wuhan Jianghan South) Ltd.
  • Hutchison Whampoa Properties (Qingdao) Ltd.
  • Hutchison Whampoa Properties (Nanjing) Ltd.
  • Hutchison Whampoa Properties (Chengdu) Ltd.
  • Hutchison Estate Agents Ltd.
  • Harbour Plaza Resort City Ltd.
  • Harbour Plaza Metropolis Ltd.
  • CK Noble (UK) Ltd.
  • Elbe Office Investments Ltd.
  • CK Property Finance Ltd.
  • Bradford Investments Ltd. (Hong Kong)
  • Almeisan BV
  • Albany Investments Ltd.
  • Happy Lion Ventures Ltd.
  • Chinex Ltd.
  • CK Global Holdings Ltd.
  • Accipiter Investments Finance (Ireland) Designated Activ
  • CKA Holdings UK Ltd.
  • Beijing Chang Le Real Estates Development Co., Ltd.
  • Ultimate Sino Investments Ltd.
  • Albaby Investments Ltd.

Competitors

  • Pacific Century Premium Developments Limited
  • J D Wetherspoon plc
  • CK Infrastructure Holdings Limited
  • Power Assets Holdings Limited
Last Updated on 22 Oct, 2021

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