CK Asset Holdings (1113) AI Stock Analysis

• Market Cap: HK$121.09B
• Dividend Yield: 4.51%
• Average Volume (3M): 6.02M
• Price to Earnings (P/E): 8.9
• Beta (1Y): 0.73
• Revenue Growth: -3.04%
• EPS Growth: -20.01%
• Country: HK
• Employees: 55,000
• Sector: Real Estate
• Sector Strength: 57
• Industry: Real Estate - Development
• EPS (TTM): 1.45
• Shares Outstanding: 3,499,778,300
• 10 Day Avg. Volume: 6,567,786
• 30 Day Avg. Volume: 6,021,016
• PEG Ratio: -1.99
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 41.20
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$38.62
• Price Target Upside: 8.93% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 74 Outperform
• Price Target: HK$38.00 ▲(7.19%Upside)

CK Asset Holdings benefits from an attractive valuation and strong technical momentum, but faces risks due to declining revenue and cash flow inconsistencies. The stock's undervaluation and momentum are significant positives, while financial performance challenges need addressing to sustain long-term growth.

Positive Factors

Acquisitions

With a low gearing of 4.3%, CKAH is well placed to explore more accretive acquisitions in Hong Kong and overseas to bolster its long-term growth prospects and thus stock valuation.

Earnings Base

Improving earnings quality, led by a stronger and more diversified recurrent earnings base, should lead to higher stock valuations.

Valuation

The stock is attractively valued, trading at a 68% discount to the appraised current NAV, justifying a higher stock valuation.

Negative Factors

Residential Demand

Weaker residential demand in Hong Kong/China could pressure CKAH’s earnings and valuations.

CK Asset Holdings Business Overview & Revenue Model

Company Description

CK Asset Holdings Limited operates as a property developer in Hong Kong, the Mainland, Singapore, the United Kingdom, continental Europe, Australia, Canada, and the United States. The company is involved in the leasing of office, industrial, retail, and other properties; residential property investment and development; and pub, and hotel and serviced suite operations. It also provides property and project management, aircraft leasing, investment in infrastructure and utility asset operation, finance, and property agency services. The company was formerly known as Cheung Kong Property Holdings Limited and changed its name to CK Asset Holdings Limited in September 2017. CK Asset Holdings Limited was incorporated in 2015 and is headquartered in Central, Hong Kong.

How the Company Makes Money

CK Asset Holdings generates revenue primarily through its property development and investment activities, where it develops residential, commercial, and industrial projects and sells or leases them for income. The company also earns significant revenue from its hotel and serviced suite operations, which involves managing and operating several hospitality facilities. Additionally, CK Asset Holdings invests in infrastructure and utility assets, providing stable returns through long-term contracts and concessions. The company's diverse portfolio and strategic investments help it maintain a steady revenue stream, supported by its expertise in managing and optimizing these assets.

CK Asset Holdings Financial Statement Overview

Summary

CK Asset Holdings demonstrates strong profitability and financial stability with a solid balance sheet. However, there are challenges in revenue growth and cash flow consistency, which could pose risks if not addressed. The company should focus on revitalizing revenue growth and enhancing cash flow management to improve financial health.

Income Statement

CK Asset Holdings has shown a decline in revenue over the recent years, particularly with a 3.63% decrease from 2023 to 2024. The gross profit margin remains strong at approximately 52.5% in 2024, indicating good cost management, but the net profit margin has decreased to 30.6%, reflecting pressures on profitability. The EBIT and EBITDA margins are robust, suggesting strong operational efficiency. Overall, while the company has maintained strong profitability metrics, the declining revenue trend is a concern.

Balance Sheet

The company maintains a solid balance sheet with a low debt-to-equity ratio of 0.145, indicating conservative leverage. Return on equity is healthy at around 3.52%, demonstrating effective equity utilization. The equity ratio is high at approximately 78.85%, highlighting a strong capital structure with significant equity financing. The balance sheet reflects financial stability and low leverage risk.

Cash Flow

The cash flow statement indicates challenges in cash generation, with free cash flow improving to 9.59 billion in 2024 from a deficit in 2023. The free cash flow to net income ratio is favorable, suggesting efficient cash conversion from profits. However, the operating cash flow to net income ratio has been inconsistent, pointing to potential issues in cash flow management. Despite recent improvements, cash flow stability remains a concern.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	45.53B	47.24B	56.97B	64.69B	60.40B
Gross Profit	23.91B	25.13B	28.28B	35.26B	25.72B
EBITDA	12.01B	23.84B	19.90B	28.73B	27.25B
Net Income	13.94B	17.63B	21.97B	21.48B	16.83B
Balance Sheet
Total Assets	501.78B	508.88B	514.82B	556.71B	520.70B
Cash, Cash Equivalents and Short-Term Investments	36.07B	42.48B	61.20B	63.37B	59.52B
Total Debt	57.63B	60.72B	62.02B	110.91B	91.74B
Total Liabilities	101.58B	109.45B	129.04B	178.37B	159.69B
Stockholders Equity	395.60B	385.84B	379.63B	371.23B	354.64B
Cash Flow
Free Cash Flow	9.59B	-1.36B	4.23B	21.96B	21.88B
Operating Cash Flow	11.81B	1.04B	6.69B	25.15B	23.20B
Investing Cash Flow	-4.45B	-4.02B	44.70B	-6.65B	-8.67B
Financing Cash Flow	-13.64B	-11.99B	-55.87B	-15.22B	-16.44B

CK Asset Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 35.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1113, the sentiment is Positive. The current price of 35.45 is above the 20-day moving average (MA) of 33.79, above the 50-day MA of 32.21, and above the 200-day MA of 31.34, indicating a bullish trend. The MACD of 0.81 indicates Negative momentum. The RSI at 66.62 is Neutral, neither overbought nor oversold. The STOCH value of 74.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1113.

CK Asset Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1113	74 Outperform	HK$121.09B	8.90	3.52%	4.51%	-3.04%	-20.01%
Sector *	59 Neutral	C$1.23B	0.79	-8.20%	5.21%	9.89%	-25.14%
CHVKF		$10.26B	5.74		13.28%	―	―
CAOVF		$18.99B	7.61	4.15%	5.10%	―	―
CRBJF		$24.16B	7.22	9.66%	1.20%	―	―
LNGPF		$8.03B	5.39	6.64%	0.69%	―	―
SNLAF		$10.15B	19.80	2.17%	0.23%	―	―

CK Asset Holdings Corporate Events

CK Asset Holdings AGM: Resolutions Passed with Strong Support

CK Asset Holdings Limited held its Annual General Meeting on May 22, 2025, where all proposed resolutions were passed with significant support. Key resolutions included the approval of audited financial statements, the declaration of a final dividend, the election of directors, and the appointment of auditors. The AGM outcomes reflect strong shareholder confidence and are expected to positively impact the company’s governance and strategic direction.

The most recent analyst rating on (HK:1113) stock is a Hold with a HK$36.00 price target. To see the full list of analyst forecasts on CK Asset Holdings stock, see the HK:1113 Stock Forecast page.

CK Asset Holdings Defines Nomination Committee’s Role to Enhance Governance

CK Asset Holdings Limited has outlined the terms of reference for its Nomination Committee, established to ensure compliance with corporate governance standards. The committee is tasked with reviewing the board’s structure, identifying suitable director candidates, and promoting board diversity, which is crucial for aligning the company’s strategic goals and enhancing shareholder value.

The most recent analyst rating on (HK:1113) stock is a Hold with a HK$36.00 price target. To see the full list of analyst forecasts on CK Asset Holdings stock, see the HK:1113 Stock Forecast page.

CK Asset Holdings Defines Audit Committee’s Role in Governance

CK Asset Holdings Limited has outlined the terms of reference for its Audit Committee, emphasizing its role in overseeing the company’s financial reporting, risk management, and internal control systems. The committee, composed of independent non-executive directors, is tasked with ensuring compliance with corporate governance standards and facilitating communication between the board and external auditors, which is crucial for maintaining transparency and accountability within the company.

The most recent analyst rating on (HK:1113) stock is a Hold with a HK$36.00 price target. To see the full list of analyst forecasts on CK Asset Holdings stock, see the HK:1113 Stock Forecast page.

CK Asset Holdings Announces 2025 Annual General Meeting with Key Resolutions

CK Asset Holdings Limited has announced its Annual General Meeting (AGM) to be held on May 22, 2025, in a hybrid format, allowing both physical and online attendance. The AGM will address key agenda items such as receiving the audited financial statements, declaring a final dividend, electing directors, and appointing auditors. Additionally, the meeting will consider resolutions for granting a mandate to issue additional shares and authorizing the buyback of shares, reflecting the company’s strategic financial management and shareholder engagement.