Ck Asset Holdings Limited · HKEX:1113
Ck Asset — FY2025 Earnings Presentation
27 slides from Ck Asset's earnings presentation, Mar 19, 2026
Slide 1: 2025 Annual Results
CK ASSET HOLDINGS LIMITED 2025 ANNUAL RESULTS 19 March 2026
Slide 2: 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 Disclaimer for the use in th
Slide 3: 2025 Annual Results Highlights
2025 Annual Results Highlights 2025 2024 2025 2024 HK$ Million HK$ Million HK$ per share HK$ per share Change Revenue 85,848 71,585 +19.9 % Profit before IP revaluation 11,960 11,688 3.42 3.33 +2.7% IP revaluation (net of tax and (1,113) 1,969 (0.32) 0.56 non-controlling interests) Profit attributab
Slide 4: Increase in 2025 DPS by 2.3% to HK$1.78
Interim: HK$0.39 Final: HK$1.39 HK$113.28 Full Year: HK$1.78 Dividend per share Net book value per share +2.3% +2.3% DPS (HK$/share) 2.5 2 1.5 1.35 1.39 1 0.5 Increase in 2025 DPS by 0 0.39 0.39 2.3% to HK$1.78 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Interim Final Note: (1) Net book value
Slide 5: Principal Activities Analysis
Revenue by 90,000 10,487 264 1,802 1,827 85,848 80,000 Principal 71,585 -115 -2 70,000 Activities 60,000 50,000 Principal Activities HK$ Million 40,000 86% recurrent 76% recurrent Analysis 30,000 HK$61,623M HK$65,399M 20,000 76% of our revenue and 85% of our profit 10,000 contribution are recurrent
Slide 6: 2025 Profit Contribution by Geography
2025 Profit Contribution by Geography 31% contribution from HK, 11% from the Mainland, 58% from Overseas 2025 HK$ Million Profit Contribution Profit Contribution by Geography Hong Kong 5,707 20,000 513 18,347 18,000 17,843 1,322 15 The Mainland 1,930 16,000 -1,346 UK 5,792 14,000 Others 4,918 HK$ Mi
Slide 7: Property Sales
Property Sales Strong sales recognition but low margin due to provision for properties for sales HK$ Million 2025 2024 Change Revenue 20,449 9,962 +105.3% Profit 2,733 2,209 +23.7% contribution Margin 13.4% 22.2% Note: (1) Profit Contribution is after provision of properties for sale of HK$2,350 mil
Slide 8: Property Sales
Property Sales Hong Kong contribution margin impacted by provisions for properties for sales 4.2% 27.8% 11.6% Hong Kong The Mainland Overseas HK$ Million Revenue Profit Contribution & Margin 2025 2024 2025 2024 Hong Kong 8,957 5,718 375 4.2% 1,609 28.1% The Mainland 6,306 3,235 1,756 27.8% 354 10.9%
Slide 9: Property Sales
Property Sales HK$20,702M contracted sales not yet recognized • About HK$19,691 million scheduled for recognition in 2026 Hong Kong The Mainland Overseas HK$19,806M HK$798M HK$98M 9
Slide 10: Property Rental
Property Rental Resilient performance from investment property division HK$ Million 2025 2024 Change Revenue 6,020 6,135 -1.9% Profit 4,614 4,720 -2.2% contribution Margin 76.6% 76.9% 10
Slide 11: Property Rental Analysis
2025 2024 Revenue by use of Change Property Rental Analysis property Increase in social infrastructure properties contribution HK$ Million HK$ Million offsets challenges faced in the HK and Mainland Retail 1,695 1,867 -9.2% markets Office 1,750 1,780 -1.7% Industrial 755 771 -2.1% Social infrastruct
Slide 12: 22.4 million sq.ft. of investment properties
22.4 million sq.ft. of investment properties Decrease in valuation of investment properties of HK$1,099 million (before tax and non-controlling interests) 13.1 4.5 4.8 4% - 8% million million million sq.ft. sq.ft. sq.ft. cap rate Hong Kong The Mainland Overseas Cheung Kong Center II Upper West Shang
Slide 13: Hotel and Serviced Suite Operation
Hotel and Serviced Suite Operation Solid contribution in a competitive market environment HK$ Million 2025 2024 Change Revenue 4,654 4,390 +6.0% Profit 1,658 1,651 +0.4% contribution Margin 35.6% 37.6% 13
Slide 14: Hotel and Serviced Suite Operation
Hotel occupancy improved to 90% from 82% in FY24 HK$ Million Profit Contribution 2025 2024 Hong Kong 1,692 1,700 The Mainland (34) (49) Total 1,658 1,651 Hotel and Average hotel room occupancy rate 90 % Serviced Suite Average serviced suites Operation occupancy rate 90 % 14
Slide 15: Property and Project Management
Property and Project Management 248 million sq. ft under management HK$ Million 2025 2024 Change Revenue 910 912 -0.2% Profit 367 361 +1.7% contribution Margin 40.3% 39.6% 15
Slide 16: Pub Operation
Pub Operation A leading integrated brewer and pub retailer operating about 2,500 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 Fixed asset impairment caused by continued cost pressures and tough macro conditions Pub Pub Brewing & HK$ Million Company Partners Brands 2025 Total 2024 Total Change Revenue 21,742 2,148 2,337 26,227 24,425 +7.4% Profit contribution 1,933 1,772 +9.1% before Asset Impairment Asset (1,
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 5,087 1,471 28.9% CKP (Canada) JV 4,910 1,501 30.6% ista JV 7,369 1,555 21.1% UK Power Networks JV 4,090 1,994 48.8% Northumbrian Water JV 3,281 1,05
Slide 20: Completed Disposal of Eversholt UK Rails
Completed Disposal of Eversholt UK Rails1 Approximately HK$617 million of gain to be recognised in 2026 Eversholt UK Rails Overview • One of the major rolling stock leasing companies in the United Kingdom • Leases a diverse range of rolling stock on long term contracts Disposal Summary Disposal Rati
Slide 21: Proposed Disposal of UK Power Networks
Proposed Disposal of UK Power Networks1 Approximately HK$8.4 billion of gain and HK$22.2 billion of cash proceeds expected UK Power Networks Overview • Electricity distributor owning and maintaining electricity networks across London, South East and East of England • Network approximately 192,000 ki
Slide 22: Interests in Real Estate Investment Trusts
Hui Xian REIT Fortune REIT Prosperity REIT Interests in Real Estate Investment Trusts Interest as of 31 December 35.4% 11.8 25.6% 30 17.4% 1.3 2025 HK$227 million(1) total distribution received Asset under management 11.8 3.0 1.3 (Million sq.ft.) (2) HK$ Million 2025 2024 Share of profit of Hui Xian
Slide 23: Gearing and Maturity Profile
Gearing and Maturity Profile Bank and other loans HK$ Billion with maturities 2.4% Net Debt to Within one year 11.6 Shareholders’ Funds Within two to five years 34.6 Beyond five years 5.2 2.3% Net Debt to Total 51.4 Net Total Capital Bank balances and Moody’s: 41.7 A2 (Stable) deposits S&P: A (Stabl
Slide 24: Landbank Summary
Landbank Summary Total landbank of 122 million sq. ft. Overseas Hong Kong The Mainland Total(1)(2) Million Million sq.ft. Million sq.ft. Million sq.ft. sq.ft. Properties under 6 56 3 65 Development Investment Properties 13 4 5 22 Hotels and Serviced 8 1 - 9 Suites Pub Properties - - 26 26 Total 27 6
Slide 25: ESG – Sustainability Highlights
Decarbonisation Progress and Commitment to SBTi ESG – Sustainability • Track and disclose progress against Group’s science- Highlights based targets, which were validated by SBTi in the prior year • Achieved 38% reduction in Scope 1 and 2 emissions from 2019 levels, driven primarily by energy effici
Slide 26: ESG – Business Unit Highlights
ESG – Business Unit Highlights Property Hotel and Development Property Serviced and Management Operation Investment Pub Infrastructure Operation • Acquired over 350,000 • Awarded the TTG • Goodwell Property hectares of Travel Awards 2025 – Management Limited agricultural land in Travel Hall of Fame
Slide 27: Thank You
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