Ck Asset Holdings Limited · HKEX:1113
Ck Asset — H1 2025 Earnings Presentation
23 slides from Ck Asset's earnings presentation, Aug 14, 2025
Slide 1: 2025 Interim Results
CK ASSET HOLDINGS LIMITED 2025 INTERIM RESULTS 14 August 2025
Slide 2: Disclaimer
Disclaimer Potential investors and shareholders of the Company (the “Potential Investors and Shareholders”) are reminded that information contained in this Presentation comprises extracts of operational data and financial information of the Group. The information included is solely for the use in th
Slide 3: 2025 Interim Results Highlights
2025 Interim Results Highlights 2025 2024 2025 2024 HK$ Million HK$ Million HK$ per share HK$ per share Change Revenue 39,126 34,727 +12.7% Profit before IP revaluation 6,805 6,726 1.94 1.91 +1.6% IP revaluation (net of tax and (503) 1,877 (0.14) 0.53 non-controlling interests) Profit attributable t
Slide 4: Interim DPS same as 1H24
HK$0.39 HK$112.65 Dividend per share Net book value per share Unchanged +1.7% DPS (HK$/share) 2.5 2 1.5 1 0.5 Interim DPS same as 1H24 0.39 0.39 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Interim Final Note: (1) Net book value per share is based on 3,499,778,333 shares in issue on 30 June 2
Slide 5: Principal Activities Analysis
Revenue by 45,000 1,022 39,126 Principal 40,000 34,727 2,731 -116 62 -1 701 35,000 Activities 30,000 25,000 Principal Activities HK$ Million 20,000 87% recurrent 81% recurrent Analysis 15,000 HK$31,760M HK$30,092M 81% of our revenue and 83% of our profit 10,000 5,000 contribution are recurrent in na
Slide 6: 2025 Half Year Profit Contribution by Geography
2025 Half Year Profit Contribution by Geography 27% contribution from HK, 15% from the Mainland, 58% from Overseas 2025 HK$ Million Profit Contribution Profit Contribution by Geography Hong Kong 2,769 12,000 211 10,264 The Mainland 1,547 9,963 469 10,000 708 UK 3,472 -1,087 8,000 Others 2,476 HK$ Mi
Slide 7: Property Sales
Property Sales Decent overall margin but weaker compared with 2024 HK$ Million 2025 2024 Change Revenue 7,366 4,635 +58.9% Profit 1,768 1,821 -2.9% contribution Margin 24.0% 39.3% Note: (1) Profit contribution is after provision of properties for sale of HK$1,100M. 7
Slide 8: Property Sales
Property Sales Hong Kong contribution margin impacted by provisions for projects 2.6% 38.4% 30.6% Hong Kong The Mainland Overseas HK$ Million Revenue Profit Contribution & Margin 2025 2024 2025 2024 Hong Kong 2,803 2,601 74 2.6% 1,044 40.1% The Mainland 3,827 1,761 1,469 38.4% 710 40.3% Overseas 736
Slide 9: Property Sales
Property Sales HK$28,553M contracted sales not yet recognized • About HK$22,898 million scheduled for recognition in 2025 Hong Kong The Mainland Overseas HK$22,102M HK$2,180M HK$4,271M 9
Slide 10: Property Rental
Property Rental Overall occupancy of Hong Kong and European portfolios approximately 86% and 99% respectively HK$ Million 2025 2024 Change Revenue 3,002 3,118 -3.7% Profit 2,315 2,444 -5.3% contribution Margin 77.1% 78.4% 10
Slide 11: Property Rental Analysis
2025 2024 Revenue by use of Change Property Rental Analysis property Contribution resilient despite the expiry of HK$ Million HK$ Million Shanghai Westgate Mall and Tower joint venture Retail 859 971 -11.5% Office 871 890 -2.1% Industrial 386 385 +0.3% Social infrastructure 671 648 +3.5% Others 215
Slide 12: 22.4 million sq.ft. of investment properties
22.4 million sq.ft. of investment properties Decrease in fair value of investment properties of HK$542 million (before tax and non-controlling interests) 13.1 4.6 4.7 4% - 8% million million million sq.ft. sq.ft. sq.ft. cap rate Hong Kong The Mainland Overseas Cheung Kong Center II Upper West Shangh
Slide 13: Hotel and Serviced Suite Operation
Hotel and Serviced Suite Operation Solid contribution in a competitive environment HK$ Million 2025 2024 Change Revenue 2,192 2,130 +2.9% Profit 794 823 -3.5% contribution Margin 36.2% 38.6% 13
Slide 14: Hotel and Serviced Suite Operation
HK$ Million Profit Contribution 2025 2024 Hong Kong 816 853 The Mainland (22) (30) Total 794 823 Average hotel room Hotel and 89 % occupancy rate Serviced Suite Average serviced suites 88 % Operation occupancy rate 14
Slide 15: Property and Project Management
Property and Project Management 248 million sq. ft under management HK$ Million 2025 2024 Change Revenue 444 445 -0.2% Profit 182 180 +1.1% contribution Margin 41.0% 40.4% 15
Slide 16: Pub Operation
Pub Operation A leading integrated brewer and pub retailer operating about 2,600 pubs restaurants and hotels across England, Wales and Scotland Pub Pub Brewing & Company Partners Brands Operates food-led Owns a portfolio of Sells and distributes a and drink-led mainly drink-led pubs wide range of be
Slide 17: Pub Operation
Pub Operation Macro conditions still very tough for the sector Pub Pub Brewing & 2025 2024 HK$ Million Change Company Partners Brands Total Total Revenue 10,392 1,003 1,129 12,524 11,823 +5.9% Profit 403 247 (21) 629 597 +5.4% contribution Margin 3.9% 24.6% (1.9)% 5.0% 5.0% 17
Slide 18: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Interest Principal Activity in Joint Venture CK William JV Owner and operator of energy utility assets in Australia, 40% the United Kingdom, the United States and Canada CKP (Canada) JV A building equipment and service provider under the 75% consumer brand
Slide 19: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Steady contribution across the portfolio 47.3% HK$ Million Revenue Profit Contribution Margin CK William JV 2,482 742 29.9% CKP (Canada) JV 2,356 694 29.5% ista JV 3,791 1,027 27.1% UK Power Networks JV 2,028 1,071 52.8% Northumbrian Water JV 1,536 496 32.3
Slide 20: Interests in Real Estate Investment Trusts
Hui Xian REIT Fortune REIT Prosperity REIT Interests in Real Estate Investment Trusts Interest as of 30 June 2025 35.4% 11.8 25.7% 30 17.6% 1.3 HK$110 million(1) total distribution received Asset under management 11.8 3.0 1.3 (Million sq.ft.) (2) HK$ Million 2025 2024 Share of profit/(loss) of Hui X
Slide 21: Gearing and Maturity Profile
Gearing and Maturity Profile Bank and other loans HK$ Billion with maturities 5.4% Net Debt to Within one year 11.0 Shareholders’ Funds Within two to five years 37.5 Beyond five years 5.9 5.0% Net Debt to Total 54.4 Net Total Capital Bank balances and Moody’s: 33.0 A2 (Stable) deposits S&P: A (Stabl
Slide 22: Landbank Summary
Landbank Summary Total landbank of 124 million sq. ft. Hong Kong The Mainland Overseas Total(1)(2) Million sq.ft. Million sq.ft. Million sq.ft. Million sq.ft. Properties under 6 58 3 67 Development Investment Properties 13 4 5 22 Hotels and Serviced 8 1 - 9 Suites Pub Properties - - 26 26 Total 27 6
Slide 23: Thank You
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