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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 2021 HKDUSD
Revenue64,688M8,322.31M
Gross Profit35,262M4,536.56M
Operating income26,545M3,415.09M
Income before tax28,736M3,696.97M
Net income20,824M2,679.07M
EBITDA28,731M3,696.33M
Diluted EPS5.770.74
Dividends Per Share2.200.28
Total Assets556,711M71,407.08M
Total liabilities178,365M22,878.16M
Total equity371,228M47,615.92M
Operating cash flow25,150M3,235.62M
Currency in HKDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 60,508M 54,556M 87,470M 60,396M 64,688M
Gross Profit 28,625M 26,157M 36,517M 25,718M 35,262M
Operating income 26,860M 24,519M 35,621M 25,001M 26,545M
Income before tax 38,127M 48,537M 36,748M 23,946M 28,736M
Net income 30,125M 40,117M 29,134M 15,742M 20,824M
EBITDA 29,655M 27,369M 37,813M 27,247M 28,731M
Diluted EPS 8.07 10.85 7.88 4.42 5.77
Dividends Per Share 1.70 1.90 2.10 1.80 2.20
Total Assets 453,339M 475,945M 508,057M 520,703M 556,711M
Total liabilities 155,829M 146,587M 158,495M 159,685M 178,365M
Total equity 291,552M 323,520M 344,253M 354,639M 371,228M
Operating cash flow 47,930M 14,117M 41,224M 23,205M 25,150M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 7,764.58M 6,960.85M 11,163.72M 7,787.00M 8,322.31M
Gross Profit 3,673.25M 3,337.39M 4,660.63M 3,315.88M 4,536.56M
Operating income 3,446.76M 3,128.40M 4,546.27M 3,223.44M 3,415.09M
Income before tax 4,892.58M 6,192.88M 4,690.11M 3,087.41M 3,696.97M
Net income 3,865.73M 5,118.56M 3,718.34M 2,029.65M 2,679.07M
EBITDA 3,805.42M 3,492.03M 4,826.04M 3,513.02M 3,696.33M
Diluted EPS 1.03 1.38 1.00 0.57 0.74
Dividends Per Share 0.21 0.24 0.26 0.23 0.28
Total Assets 57,991.76M 60,789.85M 65,204.06M 67,154.12M 71,407.08M
Total liabilities 19,933.86M 18,722.75M 20,341.25M 20,594.28M 22,878.16M
Total equity 37,295.74M 41,321.43M 44,181.44M 45,737.15M 47,615.92M
Operating cash flow 6,150.53M 1,801.20M 5,261.38M 2,991.87M 3,235.62M

Valuation Measures

Dec 2021
PER8.50
ROA3.86%
ROE5.73%
Operating margin41.03%
Profit margin32.19%

Key executives

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

Shareholders

  • LI FAMILY (31.8%)
  • Li Ka Shing Foundation Ltd. (10.0%)
  • Li Ka Shing Global Foundation (2.9%)
  • Dodge & Cox (2.2%)
  • First Eagle Investment Management LLC (1.9%)
  • The Vanguard Group, Inc. (1.6%)
  • BlackRock Fund Advisors (1.2%)
  • Capital Research & Management Co. (Global Investors) (1.1%)
  • LVM Castle Ltd. (0.9%)
  • Wellington Management Co. LLP (0.8%)

Contact Details

Related Companies

  • Accipiter Finance SARL
  • 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)
  • Albany Investments Ltd.
  • Panther Ventures 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.

Competitors

  • Pacific Century Premium Developments Limited
  • Loungers Plc
  • CK Infrastructure Holdings Limited
  • Power Assets Holdings Limited
Last Updated on 30 Sep, 2022

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