Equity Analysis /
Hong Kong

HK : CK Asset Holdings Limited - Speeding up capital recycling

    Raymond Cheng
    Raymond Cheng

    Head of Hong Kong Research

    Contributors
    Steven MAK
    Will Chu
    CGS-CIMB
    25 March 2022
    Published by

    CK Asset (CKA) reported a 10% yoy increase in underlying profit in FY21, with a 22% yoy increase in DPS supported by newly-acquired assets. Having secured a few asset disposals in the past six months, we think CKA will engage in more landbanking in HK and a new round of share buyback. Reiterate Add with an unchanged TP of HK$58.1 (45% discount to NAV).