CK Asset Holdings Limited (CHKGF) Q4 2025 Earnings Call Transcript

Lai Chee Ma
General Manager of Corporate Business Development Department

Good afternoon. Welcome to the CK Asset Holdings Limited 2025 Annual Results Analyst Presentation. My name is Gerald. On my right are two of my fellow ExCo members, Simon Man and Yue Seng Chiu. Our Chairman, Mr. Victor Li, will join us shortly for the Q&A session after the presentation.

So we’ll quickly go into it, 2025 results highlights. Revenue came to HKD 85.85 billion, up 19.9%. Profit before investment property revaluation, HKD 11.96 billion or HKD 3.42, up 2.7%. We recorded an IP revaluation deficit of HKD 1.11 billion last year or HKD 0.32, leading to a profit attributable to shareholders of HKD 10.85 billion or HKD 3.10, down 20.3%. We declared a final dividend of HKD 1.39, making full year dividend HKD 1.78. Dividend per share, hence up 2.3% over last year. Net book value per share also has risen by 2.3% to HKD 113.28.

Turning to our principal activities. 76% of our revenue and 85% of our profit contribution are now recurring in nature. By geography, 31% of contribution from Hong Kong, 11% from the Mainland and 58% from overseas, making us a very different company compared to other property companies in Hong Kong.

Looking at divisional performances, property sales. So we recorded much stronger sales recognition this year — last year, but margins were low due to provisions for properties for sale. Revenue came to HKD 20.45 billion, up 105.3%. Profit contribution after provisions at HKD 2.7 billion, up 24%. Overall margin post provision was 13.4%.