Core Viewpoint - Goldman Sachs maintains a "neutral" relative rating on Cheung Kong Infrastructure Holdings (01038), adjusting profit forecasts for 2026 and 2027 based on recent business trends and realized gains from the sale of UK rail assets [2] Group 1: Financial Performance - Cheung Kong Infrastructure's profit attributable to shareholders for 2025 is projected at HKD 8.3 billion, with core earnings (excluding one-off items) expected to grow by 6% year-on-year to HKD 8.5 billion, aligning with Goldman Sachs' expectations [2] - Contributions from Europe and New Zealand significantly boosted performance, with Europe showing a year-on-year increase of 58% to HKD 1 billion, and New Zealand up 8% to HKD 200 million [2] Group 2: Strategic Moves - The proposed sale of UKPN to Engie for GBP 10.5 billion is expected to allow the company to realize investments, confirming an accounting gain of HKD 14.5 billion and cash proceeds of HKD 45 billion [3] - Following the transaction, Cheung Kong Infrastructure anticipates holding over HKD 30 billion in net cash, assuming the cash proceeds are received [3] Group 3: Market Performance and Valuation - The stock price of Cheung Kong Infrastructure has risen 13% year-to-date, potentially benefiting from favorable currency movements and market expectations of profit recovery post-regulatory reset [3] - The stock appears reasonably valued with a projected price-to-earnings ratio of 15 times for 2026 and a dividend yield of 4.1%, compared to a 4.2% yield on 10-year U.S. Treasury bonds [3]

Group 1 - The core viewpoint of the article is that Citigroup maintains a "buy" rating for Cheung Kong Infrastructure Holdings (01038) due to its low business risk and significant hidden asset value from the sale of a 40% stake in UK Power Networks, which generated HKD 45 billion or HKD 17.9 per share [1] - The report highlights that the company's target price has been raised by 18% from HKD 62.5 to HKD 73.5, using a sum-of-the-parts (SOTP) valuation method that includes expected asset sales in the first half of the year [1] - Although the expected dividend yield of 4.1% for 2026 is not high, there is potential for an increase if large mergers and acquisitions occur, or if the company distributes proceeds from asset sales as special dividends, similar to past practices [1]

Group 1 - The core viewpoint of the article is that Changjiang Infrastructure Group (01038) is expected to achieve a 2% year-on-year increase in net profit to HKD 8.27 billion in 2025, which is stable and meets market expectations [1] - The company has increased its dividend for 29 consecutive years, with an annual dividend of HKD 2.61, representing a 1.2% year-on-year increase and a payout ratio of 80%, resulting in a dividend yield of 4% [1] - The report suggests that Changjiang Infrastructure provides a safe haven for investors amid current macroeconomic fluctuations, as the group has ample cash after asset sales and stable dividend distributions, along with favorable regulatory resets [1] Group 2 - The brokerage maintains an "outperform" rating for the company, with a target price of HKD 63 [1]

Group 1 - The core viewpoint of the report is that Citigroup maintains a "Buy" rating on Cheung Kong Infrastructure Group due to its low business risk and significant hidden asset value from the sale of a 40% stake in the UK power network, which generated HKD 45 billion or HKD 17.9 per share [1] - The report highlights the potential for profit growth from mergers and acquisitions, indicating that the company may see increased earnings from future deals [1] - Citigroup raised the target price for Cheung Kong Infrastructure from HKD 62.5 to HKD 73.5 using a sum-of-the-parts valuation method, factoring in expected sales activities in the first half of the year [1] Group 2 - The expected dividend yield of 4.1% for 2026 is considered low, but there is potential for an increase if significant mergers occur [1] - If no major acquisitions take place within the next 12 to 18 months, the company may distribute the proceeds from the sale as a special dividend, similar to the approach taken by its associate company, Power Assets Holdings, after the spin-off of Hongkong Electric Investments [1]

Core Viewpoint - Citigroup reaffirms a "Buy" rating for Cheung Kong Infrastructure Group, citing low business risk and significant hidden asset value from the sale of a 40% stake in the UK electricity network, which generated HKD 45 billion or HKD 17.9 per share [1] Group 1: Business Performance - The majority of the group's revenue comes from regulated return assets, indicating stability in earnings [1] - The potential for profit growth from mergers and acquisitions is highlighted as a key factor for future performance [1] Group 2: Valuation and Target Price - Citigroup employs a Sum-of-the-Parts (SOTP) valuation method, adjusting the target price for Cheung Kong Infrastructure from HKD 62.5 to HKD 73.5, factoring in expected asset sales in the first half of the year [1] Group 3: Dividend Outlook - The expected dividend yield of 4.1% for 2026 is considered low, but there is potential for an increase if significant mergers occur [1] - In the absence of major acquisitions within the next 12 to 18 months, the company may distribute sale proceeds as a special dividend, similar to the approach taken by its affiliate, Power Assets Holdings, after the spin-off of Hongkong Electric Investments [1]

Group 1 - The core viewpoint of the article highlights that Changjiang Infrastructure Group reported a revenue of HKD 41.679 billion for the fiscal year 2025, representing a year-on-year increase of 6.91% [2] - The net profit attributable to shareholders was HKD 8.265 billion, reflecting a year-on-year growth of 1.85% [2] - The earnings per share (EPS) for the company stood at HKD 3.28, with a proposed final dividend of HKD 1.88 per share [2] Group 2 - The announcement indicates that the macroeconomic environment remains challenging, with geopolitical tensions, trade barriers, interest rate fluctuations, and inflation pressures being prominent issues [2] - Despite the turbulent circumstances, the company continues to demonstrate the advantages of its operational model and the resilience of its business [2]

Core Viewpoint - Changjiang Infrastructure Group (01038) announced a final dividend of HKD 1.88 per share for the year ending December 31, 2025, to be distributed on June 10, 2026 [1] Group 1 - The company will distribute the final dividend on June 10, 2026 [1] - The dividend amount is set at HKD 1.88 per share [1]

Group 1 - The core viewpoint of the report is that China Longjiang Infrastructure Group is expected to achieve a net profit growth of 2% year-on-year to HKD 8.27 billion in 2025, which is stable and in line with market expectations [1] - The company has increased its dividend for 29 consecutive years, with an annual dividend of HKD 2.61, representing a year-on-year increase of 1.2%, and a payout ratio of 80%, resulting in a dividend yield of 4% [1] - The report suggests that China Longjiang Infrastructure provides a safe haven for investors amid current macroeconomic volatility, as the group holds ample cash after asset sales, maintains stable dividend distributions, and benefits from regulatory resets [1] Group 2 - The firm maintains an "outperform" rating for China Longjiang Infrastructure, with a target price set at HKD 63 [1]

Core Viewpoint - The company, Changjiang Infrastructure Group, announced a final dividend of HKD 1.88 per share for the year ending December 31, 2025, to be distributed on June 10, 2026 [1] Group 1 - The final dividend amount is set at HKD 1.88 per share [1] - The dividend distribution date is scheduled for June 10, 2026 [1] - The dividend pertains to the financial year ending December 31, 2025 [1]

EF001 免責聲明 | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | CK Infrastructure Holdings Limited 長江基建集團有限公司 | | 股份代號 | 01038 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年12月31日止年度之末期股息 | | 公告日期 | 2026年3月18日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 1.88 HKD | | 股東批准日期 | 2026年5月20日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 ...