<div id="readability-page-1">CK Hutchison Holdings, one of the flagship companies owned by Hong Kong billionaire Li Ka-shing’s family, reported a 7 per cent increase in underlying profit for 2025, as the company predicted its businesses would face “new and perhaps unforeseen challenges” in 2026. The ports-to-telecoms conglomerate said on Thursday that underlying profit reached HK$22.3 billion (US$2.85 ‌billion) last year, compared with HK$20.8 billion a year earlier. Including a one-time ⁠accounting loss, net profit fell ⁠31 per cent from a year earlier to HK$11.84 ‌billion, it said. The one-time non-cash loss of HK$10.92 billion was related to the UK telecoms merger of 3UK with Vodafone. CK Hutchison received about £1.3 billion (US$1.73 billion) in net cash from the merger, according to its filing with the Hong Kong stock exchange. “Geopolitical pressure has led to a meaningful legal conflict with the Panamanian state relating to the group’s container terminal operations there,” said chairman Victor Li Tzar-kuoi. “Notwithstanding this backdrop, the group’s highly diversified business and geographic spread largely mitigates the impact of adverse developments in any particular sector or country. Strong cash generation in the year has placed the group in a solid financial position.” He added that the group would continue to “look for opportunities to enhance value for our shareholders through major transaction activity”. CK Hutchison’s net debt to net total capital ratio stood at 13.9 per cent at the end of 2025, he said. “Without doubt, the group’s businesses will face new and perhaps unforeseen challenges in 2026,” Li said. “However, as usual, the group will maintain its disciplined capital allocation, cash flow and liability management, as well as its strong financial profile to ensure it continues to deliver a stable performance.” In a results briefing, Li said the group faced “absolutely no pressure” to sell any assets, but would consider divestments where value could be realised. With an energy crunch gripping the global economy owing to the Iran conflict, Li noted that the company’s diversified global operations had allowed it to offset pressures, with its investment in Canada’s Cenovus Energy benefiting from rising oil prices. Meanwhile, profit at CK Asset Holdings, the group’s other flagship company, fell more than a fifth to HK$10.84 billion, dragged by a negative investment property revaluation, it said in a separate filing. Without the revaluation, its underlying profit rose 2.7 per cent to HK$11.96 billion, it said. “The group is well-positioned to meet the challenges of an increasingly volatile operating environment with its well-diversified and resilient portfolio of high-quality investments and assets that span across various geographies and sectors,” Li said. The developer said it expected a busy year ahead, with Hong Kong’s residential market sustaining a recovery that began in the second quarter of 2025, according to official data. New launches would include projects on Borrett Road in the Mid-Levels and Kai Tak in East Kowloon, alongside potential projects in To Kwa Wan, the company said. Meanwhile, infrastructure and energy company CK Infrastructure reported that its 2025 profit increased 2 per cent to HK$8.26 billion. It expected to complete the £10.5 billion sale of UK Power Networks to French multinational electric utility Engie, which was announced last month, in the first half of the year. </div>

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<p>CK Hutchison Holdings reported a 7% increase in underlying profit for 2025, reaching HK$22.3 billion, despite a 31% drop in net profit to HK$11.84 billion due to a one-time accounting loss from a telecom merger. Chairman Victor Li noted geopolitical pressures and legal conflicts but emphasized the company's diversified operations and strong cash generation. The firm plans to seek opportunities for shareholder value enhancement while maintaining disciplined financial management. CK Asset Holdings also reported a profit decline, while CK Infrastructure saw a 2% profit increase, expecting to complete a major sale in the coming months.</p>

Hong Kong’s CK Hutchison reports 7% gain in underlying profit