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00001
CKH HOLDINGS
HKD
66.3001.000
(1.53%)
1D
AI Analysis for 00001
AI Analysis
High
66.500
Open
66.000
VWAP
66.00
Vol
11.00M
Mkt Cap
220.00B
Low
65.250
Amount
756.00M
EV/EBITDA(TTM)
8.00
Total Shares
4.00B
EV
569.00B
EV/OCF(TTM)
9.00
P/S(TTM)
1.00
CK Hutchison Holdings Ltd is an investment holding company principally engaged in the retail business of health and beauty products. The Company operates its business through four segments. The Retail segment is mainly engaged in the retail business of health and beauty products, supermarkets, consumer electronics and electrical appliances, foreign wines, perfumes and cosmetics, as well as engages in the manufacturing and distribution of bottled water and beverages. The Telecommunication segment mainly provides integrated telecommunications and digital services. The Ports and Related Service segment is mainly engaged in the operation of ports and terminals, and the provision of port-related logistics services. The Infrastructure segment has diversified investments in energy, transportation, water treatment, waste management, waste-to-energy, building services infrastructure and infrastructure-related business. The Company also engages in finance and investment activities.
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News
4.5
01-26aastocksHSI Closes with a 16-Point Gain; Rally in Developers and Commodities; LAOPU GOLD Generates Buzz
Market Performance: The HSI closed slightly up by 16 points at 26,765, while the HSCEI and HSTECH saw declines of 0.15% and 1.2%, respectively, with a total market turnover of HKD261.699 billion.
Developer Stocks Surge: Hong Kong-listed property developers experienced significant gains, with SHK PPT, SINO LAND, and CK ASSET rising between 3% to 4.5%, while NEW WORLD DEV jumped 4.4%.
Gold and Silver Stocks Rally: Gold and silver stocks saw substantial increases, with CHI SILVER GP soaring 19.1% and CHINAGOLDINTL rising 8.1%, reflecting strong demand in the sector.
Tech Stock Movements: Major tech stocks had mixed results, with TENCENT gaining 0.8% and BABA-W dropping nearly 2%, while other tech companies like KUAISHOU-W and BIDU-SW fell over 3%.
4.5
01-26aastocks<Daily Summary> HSI Ends at 26,765, Gaining 16 Points; HSTI Finishes at 5,725, Dropping 72 Points; XINYI SOLAR Falls More Than 5%; ZIJIN MINING, CNOOC, SHK PPT, CKH HOLDINGS, HANG LUNG PPT Reach New Peaks; Market Activity Increases
Market Performance: The Hang Seng Index (HSI) rose by 16 points (0.1%) to close at 26,765, while the Hang Seng Tech Index (HSTI) fell by 72 points (1.2%) to 5,725, and the Hang Seng China Enterprises Index (HSCEI) decreased by 13 points (0.1%) to 9,147, with a total market turnover of $261.70 billion.
Active Heavyweights: Notable movements included Xiaomi down 2.8% to $35.22, Alibaba down 2% to $165.2, and Tencent up 0.8% to $599.5, with significant short selling activity across these stocks.
Constituents on the Move: Xinyi Solar dropped 5.85% to $3.38, while China Shenhua and Zijin Mining saw gains of 4.4% and 4.4%, respectively, with Zijin hitting a new high.
Short Selling Trends: Heavy short selling was observed in several stocks, including XPeng and Kuaishou, both down over 4%, while Fangzhou Jianke surged by 33.2%, indicating varied investor sentiment across the market.
4.5
01-26aastocksHSI Rises 26 Points at Midday; Developers and Commodities Surge; ZIJIN MINING Jumps 5%
Market Performance: The HSI rose by 26 points (0.1%) to 26,775, while the HSCEI fell slightly by 7 points (less than 0.1%) to 9,153, and the HSTECH dropped by 75 points (1.3%) to 5,722, with a total turnover of HKD151.051 billion.
Developer Stocks Rally: Hong Kong developers saw significant gains, with SHK PPT and HANG LUNG PPT rising by 4.5% and 4.1% respectively, while CKH HOLDINGS increased by 4% amid plans to advance a port sale.
Gold and Silver Stocks Surge: Demand for gold and silver stocks increased as spot gold surpassed USD5,000, leading to notable gains for companies like CHI SILVER GP (+11.8%) and CHINAGOLDINTL (+6.4%).
Tech Stocks Mixed Performance: While Tencent gained slightly by 0.3%, Alibaba fell by 2.2%. Other tech stocks like KUAISHOU and BIDU saw declines of 4.4% and 4.4% respectively, amidst varying short selling activities.
4.5
01-26aastocksMidday Update: HSI Ends at 26,775, Gaining 26 Points; HSTI at 5,722, Dropping 75 Points; ZIJIN MINING Rises Over 5%; ZIJIN MINING, SHK PPT, CNOOC, CKH HOLDINGS, and HANG LUNG PPT Reach New Peaks
Market Overview: The HSI rose by 26 points (0.1%) to 26,775, while the HSTI and HSCEI fell by 75 points (1.3%) to 5,722 and 7 points (0.1%) to 9,153, respectively.
Active Heavyweights Performance: Notable movements included Xiaomi down 2.3%, Ping An up 2.2%, Alibaba down 1.2%, Tencent up 0.9%, and Meituan down 0.9%.
Top Gainers and Losers: Zijin Mining and SHK PPT saw significant gains of 5.0% and 4.8%, respectively, while Tingyi and Baidu experienced declines of 4.6% and 4.0%.
Short Selling Insights: High short selling ratios were observed in several stocks, with notable figures including Kuaishou at 22.46% and Baidu at 34.60%, indicating investor caution.
4.5
01-26aastocksHSI Rises 94 Points as Gold and Silver Mining Stocks Soar; POP MART Jumps Over 4%
Market Opening: The HSI, HSCEI, and HSTECH opened higher, with the HSI up 0.4% at 26,844, driven by reports of approvals for major tech companies to purchase Nvidia's H200 chips.
Tech Stock Performance: Alibaba and Tencent saw slight movements, while other tech stocks like Kuaishou and Meituan experienced mixed results, with some stocks like Baidu declining significantly.
Resource Stocks Surge: Gold and silver prices rose, leading to gains in mining stocks such as Zijin Mining and Jiangxi Copper, with Zijin Mining benefiting from the commencement of a new copper mine phase.
Corporate Developments: CKH Holdings advanced due to plans to split a port sale into separate parcels, while Pop Mart's stock rose after launching a trendy phone in collaboration with Honor.
Money Flow
Over the past 66 trading days, overall net money flow is 37.00M, with retail investors contributing 5.00M and major investors adding 7.00M.
Net Buy $ Volume
Net Sell $ Volume
Bank of America Securities
BofAS
Buy
maintain
$62 -> $67
2026-01-21
Reason
The analyst rating from the UBS research report is a "Buy" recommendation for CKH Holdings, driven by optimism about the company's potential to unlock value through asset sales, particularly in light of discussions to sell its Irish telecom operator, Three Ireland. The report highlights that the sale could enhance market expectations for CKH's engagement in mergers and acquisitions (M&A) in other operational markets. The target price set by the broker is HKD67, reflecting confidence in the company's strategic moves.
Bank of America Securities
Buy
Price Target
$62 -> $67
2026-01-21
maintain
The analyst rating from the UBS research report is a "Buy" recommendation for CKH Holdings, driven by optimism about the company's potential to unlock value through asset sales, particularly in light of discussions to sell its Irish telecom operator, Three Ireland. The report highlights that the sale could enhance market expectations for CKH's engagement in mergers and acquisitions (M&A) in other operational markets. The target price set by the broker is HKD67, reflecting confidence in the company's strategic moves.
CLSA
CLSA
Outperform
maintain
$61
2026-01-21
Reason
The analyst rating for CKH HOLDINGS is "Outperform" based on the potential sale of its Irish telecom business to Liberty Global for EUR1.5 billion. This transaction is viewed positively as it allows CKH HOLDINGS to exit a stressed telecom business at an attractive valuation, with an EV/EBITDA multiple of 11.4x for 2026/2027, significantly higher than the industry average of 5.9x. Additionally, the sale is expected to boost the company's overall net asset value by approximately 3% in 2026, although the impact on earnings is anticipated to be minimal. The broker has set a target price of $61 for the stock, reinforcing its position as one of the top picks for 2026.
CLSA
Outperform
Price Target
$61
2026-01-21
maintain
The analyst rating for CKH HOLDINGS is "Outperform" based on the potential sale of its Irish telecom business to Liberty Global for EUR1.5 billion. This transaction is viewed positively as it allows CKH HOLDINGS to exit a stressed telecom business at an attractive valuation, with an EV/EBITDA multiple of 11.4x for 2026/2027, significantly higher than the industry average of 5.9x. Additionally, the sale is expected to boost the company's overall net asset value by approximately 3% in 2026, although the impact on earnings is anticipated to be minimal. The broker has set a target price of $61 for the stock, reinforcing its position as one of the top picks for 2026.
Morgan Stanley
Morgan Stanley
initiated
$61
2026-01-19
Reason
The analyst rating from Morgan Stanley for CKH HOLDINGS (00001.HK) is based on several key factors:
1. Positive Growth Expectations: Morgan Stanley anticipates positive growth in both Earnings Per Share (EPS) and Dividends Per Share (DPS) for CKH, particularly with the upcoming announcement of its 2025 results in March.
2. Corporate Actions: The broker expects that certain corporate actions will add value to the stock price and help narrow the discount to Net Asset Value (NAV).
3. High Probability of Success: Morgan Stanley estimates the probability of these positive outcomes occurring to be over 80%, which they describe as "highly likely."
These factors collectively led to the assignment of an Overweight rating and a target price of HKD61 for the stock.
Morgan Stanley
Price Target
$61
2026-01-19
initiated
The analyst rating from Morgan Stanley for CKH HOLDINGS (00001.HK) is based on several key factors:
1. Positive Growth Expectations: Morgan Stanley anticipates positive growth in both Earnings Per Share (EPS) and Dividends Per Share (DPS) for CKH, particularly with the upcoming announcement of its 2025 results in March.
2. Corporate Actions: The broker expects that certain corporate actions will add value to the stock price and help narrow the discount to Net Asset Value (NAV).
3. High Probability of Success: Morgan Stanley estimates the probability of these positive outcomes occurring to be over 80%, which they describe as "highly likely."
These factors collectively led to the assignment of an Overweight rating and a target price of HKD61 for the stock.
UBS
UBS
upgrade
$67
2026-01-19
Reason
The analyst rating from UBS is influenced by several factors. They noted that the stock performance of Hong Kong conglomerates in 2025 was driven by asset sales and capital recovery activities. UBS observed a shift in investor focus towards valuing companies based on their price-to-book (P/B) ratio rather than dividend yield. Additionally, they anticipate that upcoming Federal Reserve rate cuts will further encourage asset sales. As a result, UBS has given CKH HOLDINGS a Buy rating, raising its target price from HKD 58.8 to HKD 67, indicating a positive outlook based on these market dynamics. In contrast, SWIRE PACIFIC A has been rated as Neutral, with a lowered target price, reflecting a more cautious stance.
UBS
Price Target
$67
2026-01-19
upgrade
The analyst rating from UBS is influenced by several factors. They noted that the stock performance of Hong Kong conglomerates in 2025 was driven by asset sales and capital recovery activities. UBS observed a shift in investor focus towards valuing companies based on their price-to-book (P/B) ratio rather than dividend yield. Additionally, they anticipate that upcoming Federal Reserve rate cuts will further encourage asset sales. As a result, UBS has given CKH HOLDINGS a Buy rating, raising its target price from HKD 58.8 to HKD 67, indicating a positive outlook based on these market dynamics. In contrast, SWIRE PACIFIC A has been rated as Neutral, with a lowered target price, reflecting a more cautious stance.
BofA Securities
BofA Securities
maintain
$62
2026-01-16
Reason
The analyst rating for CKH Holdings (00001.HK) is maintained as a Buy due to several reasons:
1. A.S. Watson Group's Dual Listing: The subsidiary's plan for a dual listing in Hong Kong and London could significantly enhance its valuation, potentially exceeding the current estimates used for CKH's net asset value (NAV) for FY2026.
2. Valuation Potential: The IPO of A.S. Watson is expected to raise around USD2 billion, which would positively impact CKH's overall valuation.
3. Solid Performance Expectations: The broker anticipates strong performance for CKH in FY2025.
4. Attractive Current Valuation: The current valuation of CKH is considered attractive, especially as the company is perceived to be more open to actions that could unlock value.
5. Target Price: A target price of HKD62 has been set, indicating confidence in the stock's potential for growth.
Overall, these factors contribute to the positive outlook and Buy rating from the analyst.
BofA Securities
Price Target
$62
2026-01-16
maintain
The analyst rating for CKH Holdings (00001.HK) is maintained as a Buy due to several reasons:
1. A.S. Watson Group's Dual Listing: The subsidiary's plan for a dual listing in Hong Kong and London could significantly enhance its valuation, potentially exceeding the current estimates used for CKH's net asset value (NAV) for FY2026.
2. Valuation Potential: The IPO of A.S. Watson is expected to raise around USD2 billion, which would positively impact CKH's overall valuation.
3. Solid Performance Expectations: The broker anticipates strong performance for CKH in FY2025.
4. Attractive Current Valuation: The current valuation of CKH is considered attractive, especially as the company is perceived to be more open to actions that could unlock value.
5. Target Price: A target price of HKD62 has been set, indicating confidence in the stock's potential for growth.
Overall, these factors contribute to the positive outlook and Buy rating from the analyst.
BofA Securities
BofA Securities
Buy
maintain
$57 -> $62
2026-01-06
Reason
The analyst rating for CKH HOLDINGS (00001.HK) was reiterated as Buy by BofA Securities for several reasons:
1. Normalization of Valuation: The target price was raised by 9% to $62, reflecting the normalization of the valuation of its retail business.
2. Enhanced Net Asset Value: There is an enhancement in the net asset value of its subsidiary, AS Watson (ASW).
3. Attractive Valuation: The current valuation shows a 54% discount to net asset value, which is considered attractive.
4. Optimism About Value Unlocking: The broker expressed optimism regarding CKH HOLDINGS' willingness to take actions that can unlock value.
5. Risk Assessment: Although there are uncertainties related to the proposed disposal of its port business, the risks have been adequately reflected in media reports, suggesting that the market has already priced in these uncertainties.
Overall, these factors contributed to the positive outlook and Buy rating for the company.
BofA Securities
Buy
Price Target
$57 -> $62
2026-01-06
maintain
The analyst rating for CKH HOLDINGS (00001.HK) was reiterated as Buy by BofA Securities for several reasons:
1. Normalization of Valuation: The target price was raised by 9% to $62, reflecting the normalization of the valuation of its retail business.
2. Enhanced Net Asset Value: There is an enhancement in the net asset value of its subsidiary, AS Watson (ASW).
3. Attractive Valuation: The current valuation shows a 54% discount to net asset value, which is considered attractive.
4. Optimism About Value Unlocking: The broker expressed optimism regarding CKH HOLDINGS' willingness to take actions that can unlock value.
5. Risk Assessment: Although there are uncertainties related to the proposed disposal of its port business, the risks have been adequately reflected in media reports, suggesting that the market has already priced in these uncertainties.
Overall, these factors contributed to the positive outlook and Buy rating for the company.
CLSA
CLSA
Outperform
maintain
$8.8
2025-12-31
Reason
The analyst rating from the article is based on several key factors:
1. Catalysts for Growth: The year 2026 is expected to be filled with catalysts for Hong Kong conglomerates, particularly for CTF SERVICES, Jardines, and FIRST PACIFIC, which suggests potential for significant stock performance.
2. Dividend Compensation: Investors are anticipated to be well compensated through dividends while waiting for these catalysts. The expectation of a 5% growth in recurring earnings for the sector, along with a projected 3% year-over-year increase in sector dividends, supports this view.
3. Risk-Reward Profiles: CLSA identifies CTF SERVICES and CKH HOLDINGS as top picks due to their attractive risk-reward profiles, indicating that these stocks are expected to perform well relative to their risk.
4. Target Prices: The broker has set specific target prices for the stocks, with CTF SERVICES at $8.8 and CKH HOLDINGS at $61, both rated at Outperform, which reflects a positive outlook on their future performance.
5. Overall Sector Outlook: The combination of expected earnings growth, stable dividends, and favorable market conditions (like a weak USD) contributes to a positive overall outlook for the sector, reinforcing the analyst's ratings.
These factors collectively lead to the recommendation to invest in the highlighted stocks.
CLSA
Outperform
Price Target
$8.8
2025-12-31
maintain
The analyst rating from the article is based on several key factors:
1. Catalysts for Growth: The year 2026 is expected to be filled with catalysts for Hong Kong conglomerates, particularly for CTF SERVICES, Jardines, and FIRST PACIFIC, which suggests potential for significant stock performance.
2. Dividend Compensation: Investors are anticipated to be well compensated through dividends while waiting for these catalysts. The expectation of a 5% growth in recurring earnings for the sector, along with a projected 3% year-over-year increase in sector dividends, supports this view.
3. Risk-Reward Profiles: CLSA identifies CTF SERVICES and CKH HOLDINGS as top picks due to their attractive risk-reward profiles, indicating that these stocks are expected to perform well relative to their risk.
4. Target Prices: The broker has set specific target prices for the stocks, with CTF SERVICES at $8.8 and CKH HOLDINGS at $61, both rated at Outperform, which reflects a positive outlook on their future performance.
5. Overall Sector Outlook: The combination of expected earnings growth, stable dividends, and favorable market conditions (like a weak USD) contributes to a positive overall outlook for the sector, reinforcing the analyst's ratings.
These factors collectively lead to the recommendation to invest in the highlighted stocks.
Morgan Stanley
Morgan Stanley
Overweight
maintain
$61
2025-11-24
Reason
The analyst rating for CKH Holdings is based on several key factors:
1. Demerger Plans: CKH is planning to demerge its retail business, AS Watson, for a dual listing in Hong Kong and the UK, which is expected to raise approximately USD2 billion. This strategic move is seen as a way to unlock value from its unlisted businesses.
2. Strong Performance of Retail Business: The retail segment is performing well, with an EBITDA of about USD1 billion in the first half of 2025, reflecting a year-over-year growth of 12.5%. This strong performance supports the potential for value creation through the demerger.
3. Market Valuation: The report highlights that the market currently assigns an implied valuation of zero to CKH's unlisted businesses, including ports, retail, and telecom. The expectation is that listing or selling these assets will unlock significant value.
4. Positive Stock Outlook: The stock price is anticipated to outperform the market over the next 60 days, leading to a target price set at HKD61 and an Overweight rating from the analyst.
Overall, the combination of strategic demerger plans, strong business performance, and the potential to unlock value from unlisted assets contributes to the positive analyst rating for CKH Holdings.
Morgan Stanley
Overweight
Price Target
$61
2025-11-24
maintain
The analyst rating for CKH Holdings is based on several key factors:
1. Demerger Plans: CKH is planning to demerge its retail business, AS Watson, for a dual listing in Hong Kong and the UK, which is expected to raise approximately USD2 billion. This strategic move is seen as a way to unlock value from its unlisted businesses.
2. Strong Performance of Retail Business: The retail segment is performing well, with an EBITDA of about USD1 billion in the first half of 2025, reflecting a year-over-year growth of 12.5%. This strong performance supports the potential for value creation through the demerger.
3. Market Valuation: The report highlights that the market currently assigns an implied valuation of zero to CKH's unlisted businesses, including ports, retail, and telecom. The expectation is that listing or selling these assets will unlock significant value.
4. Positive Stock Outlook: The stock price is anticipated to outperform the market over the next 60 days, leading to a target price set at HKD61 and an Overweight rating from the analyst.
Overall, the combination of strategic demerger plans, strong business performance, and the potential to unlock value from unlisted assets contributes to the positive analyst rating for CKH Holdings.
Citi
Buy
upgrade
$53 -> $61
2025-08-15
Reason
The analyst rating for CKH HOLDINGS was influenced by several key factors highlighted in the article. Firstly, the company delivered remarkable operational performance across all business segments in the first half of 2025. Additionally, there are ongoing discussions with major strategic investors in China regarding the sale of port assets, which is expected to be mutually beneficial, although the completion of this deal may take time due to regulatory complexities.
Furthermore, Citi raised its net asset value (NAV) forecast for CKH HOLDINGS from HKD118.31 to HKD138.69 per share, taking into account the potential sale of port assets and the revaluation of all listed subsidiaries at market price. As a result, the broker increased its target price for CKH HOLDINGS from HKD53 to HKD61, while maintaining a Buy rating, reflecting a 56% discount to NAV. These factors collectively contributed to the positive analyst rating.
Citi
Buy
Price Target
$53 -> $61
2025-08-15
upgrade
The analyst rating for CKH HOLDINGS was influenced by several key factors highlighted in the article. Firstly, the company delivered remarkable operational performance across all business segments in the first half of 2025. Additionally, there are ongoing discussions with major strategic investors in China regarding the sale of port assets, which is expected to be mutually beneficial, although the completion of this deal may take time due to regulatory complexities.
Furthermore, Citi raised its net asset value (NAV) forecast for CKH HOLDINGS from HKD118.31 to HKD138.69 per share, taking into account the potential sale of port assets and the revaluation of all listed subsidiaries at market price. As a result, the broker increased its target price for CKH HOLDINGS from HKD53 to HKD61, while maintaining a Buy rating, reflecting a 56% discount to NAV. These factors collectively contributed to the positive analyst rating.
JPMorgan
JPMorgan
Overweight
maintain
$54 -> $58
2025-08-15
Reason
JPMorgan
Overweight
Price Target
$54 -> $58
2025-08-15
maintain
Valuation Metrics
Forward PE
5Y Average PE
6.76
Current PE
9.04
Overvalued PE
7.83
Undervalued PE
5.69
Forward EV/EBITDA
5Y Average EV/EBITDA
8.55
Current EV/EBITDA
8.14
Overvalued EV/EBITDA
9.65
Undervalued EV/EBITDA
7.44
Forward PS
5Y Average PS
0.42
Current PS
0.47
Overvalued PS
0.50
Undervalued PS
0.34
Financials
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