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Finance

Cheung Kong Property 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 2019 HKDUSD
Revenue87,470M11,163.72M
Gross Profit36,517M4,660.63M
Operating income34,330M4,381.51M
Income before tax36,748M4,690.11M
Net income29,134M3,718.34M
EBITDA37,813M4,826.04M
Diluted EPS7.881.00
Dividends Per Share2.100.26
Total Assets508,057M65,204.06M
Total liabilities158,495M20,341.25M
Total equity344,253M44,181.44M
Operating cash flow41,224M5,261.38M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 57,983M 70,157M 60,508M 54,556M 87,470M
Gross Profit 22,413M 27,087M 28,625M 26,157M 36,517M
Operating income 21,061M 25,775M 26,860M 24,519M 34,330M
Income before tax 24,213M 27,174M 38,127M 48,537M 36,748M
Net income 17,113M 19,415M 30,125M 40,117M 29,134M
EBITDA 22,118M 27,199M 29,655M 27,369M 37,813M
Diluted EPS 4.43 5.05 8.07 10.85 7.88
Dividends Per Share 1.40 1.53 1.70 1.90 2.10
Total Assets 371,805M 396,836M 453,339M 475,945M 508,057M
Total liabilities 102,118M 120,562M 155,829M 146,587M 158,495M
Total equity 263,096M 270,199M 291,552M 323,520M 344,253M
Operating cash flow 17,607M 38,291M 47,930M 14,117M 41,224M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 7,479.19M 9,037.98M 7,764.58M 6,960.85M 11,163.72M
Gross Profit 2,891.04M 3,489.48M 3,673.25M 3,337.39M 4,660.63M
Operating income 2,716.64M 3,320.46M 3,446.76M 3,128.40M 4,381.51M
Income before tax 3,123.22M 3,500.69M 4,892.58M 6,192.88M 4,690.11M
Net income 2,207.39M 2,501.14M 3,865.73M 5,118.56M 3,718.34M
EBITDA 2,852.98M 3,503.91M 3,805.42M 3,492.03M 4,826.04M
Diluted EPS 0.57 0.65 1.03 1.38 1.00
Dividends Per Share 0.18 0.19 0.21 0.24 0.26
Total Assets 47,973.90M 51,183.84M 57,991.76M 60,789.85M 65,204.06M
Total liabilities 13,176.26M 15,550.06M 19,933.86M 18,722.75M 20,341.25M
Total equity 33,947.21M 34,850.22M 37,295.74M 41,321.43M 44,181.44M
Operating cash flow 2,271.11M 4,932.84M 6,150.53M 1,801.20M 5,261.38M

Valuation Measures

Dec 2019
PER7.13
ROA5.92%
ROE8.72%
Operating margin39.24%
Profit margin33.30%

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 (31.4%)
  • Capital Research & Management Co. (Global Investors) (4.2%)
  • The Vanguard Group, Inc. (2.5%)
  • First Eagle Investment Management LLC (1.6%)
  • Capital Research & Management Co. (World Investors) (1.3%)
  • Li Ka Shing Global Foundation (1.3%)
  • Templeton Global Advisors Ltd. (1.2%)
  • BlackRock Fund Advisors (1.1%)
  • Norges Bank Investment Management (1.0%)
  • Li Ka Shing Foundation Ltd. (1.0%)

Contact Details

Related Companies

  • Happy Lion Ventures Ltd.
  • Chinex Ltd.
  • Accipiter Investments Finance (Ireland) Designated Activ
  • CKA Holdings UK Ltd.
  • Albaby Investments Ltd.
  • Kovan Treasure Pte Ltd.
  • Center International Ltd.
  • Sarvana S.a r.l
  • Rich Heights Ltd.
  • Cheung Kong Property Provident Fund
  • Cheung Kong Property Provident & Retirement Plan
  • Radiant Access Ltd.
  • CKP (Canada) Holdings Ltd.
  • Accipiter Investments Ltd.
  • Highsmith Ltd.
  • CK Property Finance (MTN) Ltd.
  • Hutchison Property Group Ltd.
  • Mighty State Ltd.
  • Greene King Plc

Competitors

  • Pacific Century Premium Developments Limited
  • Mitchells & Butlers plc
  • Restaurant Group plc
  • SSP Group Plc
  • J D Wetherspoon plc
  • CK Infrastructure Holdings Limited
Last Updated on 10 Aug, 2020

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