CK Infrastructure Holdings Limited INTERIM RESULTS 2025 13 AUGUST 2025 CK Infrastructure Holdings Limited Contents Highlights Financial Review and Financial Management International Businesses Updates Sustainability Updates Appendices ▪ Regulated Businesses Updates ▪ M&A Outlooks Key Messages | ▪ Solid Financial | Profit contributions from operations +6% y-o-y | | --- | --- | | ▪ Performance in 1H25 | Profit attributable to shareholders was +1% y-o-y to | | | HK$4.3 billion in 1H25 | | Sustainable Dividend ...

金融界8月8日消息，上证指数低开震荡，中证香港100公用事业指数 (H100公用，L11189)报1327.64点。 数据统计显示，中证香港100公用事业指数近一个月上涨1.90%，近三个月上涨1.11%，年至今上涨 1.17%。 据了解，中证香港100行业指数系列将中证香港100指数样本按中证行业分类标准进行分类，再以各自行 业全部证券作为对应行业指数的样本。该指数以2004年12月31日为基日，以1000.0点为基点。 从中证香港100公用事业指数持仓的市场板块来看，香港证券交易所占比100.00%。 从中证香港100公用事业指数持仓样本的行业来看，火电占比61.89%、燃气占比38.11%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当对应的母指数调整样本时， 行业指数样本将相应调整。当样本公司有特殊事件发生，导致其行业归属发生变更时，将对指数进行相 应调整。当样本退市时，将其从指数样本中剔除。样本 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: CK Infrastructure Holdings Limited 長江基建集團有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01038 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 1 HKD | | 4,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 1 HKD ...

格隆汇7月31日丨长江基建集团(01038.HK)宣布，公司将于2025年8月13日（星期三）于香港举行董事会 会议，以（其中包括）批准刊发公司及其附属公司截至2025年6月30日止六个月的中期业绩，以及考虑 派发中期股息。 ...

董事會召開日期 CK Infrastructure Holdings Limited 長江基建集團有限公司（「本公司」）之董事會（「董事 會」）謹此宣佈，本公司將於二零二五年八月十三日（星期三）於香港舉行董事會會議， 以（其中包括）批准刊發本公司及其附屬公司截至二零二五年六月三十日止六個月之 中期業績，以及考慮派發中期股息。 承董事會命 CK Infrastructure Holdings Limited 長江基建集團有限公司 公司秘書 楊逸芝 二零二五年七月三十一日 於本文件日期，本公司之執行董事為李澤鉅先生（主席）、甘慶林先生（集團董事總經理）、 葉德銓先生（副主席）、霍建寧先生（副主席）、陸法蘭先生、甄達安先生（副董事 總經理）、陳來順先生（財務總監）及陳建華小姐；非執行董事為張英潮先生（獨立非執 行董事）、郭李綺華女士（獨立非執行董事）、孫潘秀美女士（獨立非執行董事）、藍鴻震 先生（獨立非執行董事）、 Paul Joseph Tighe 先生（獨立非執行董事）、李王佩玲女士及 麥理思先生；及替任董事為文嘉強先生（為葉德銓先生之替任董事）及楊逸芝女士（為 甘慶林先生之替任董事）。 香港交易及結算所有限公 ...

Group 1 - The core viewpoint of the article highlights the performance of the China Securities Hong Kong 100 Utilities Index, which has shown an increase of 4.62% over the past month, 3.60% over the past three months, and 2.49% year-to-date [1] - The index is classified according to the China Securities industry classification standards, with a base date of December 31, 2004, and a base point of 1000.0 [1] - The index is fully composed of securities listed on the Hong Kong Stock Exchange, with thermal power accounting for 61.92% and gas accounting for 38.08% of the holdings [1] Group 2 - The index sample is adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2] - Adjustments to the index occur in response to changes in the parent index, special events affecting industry classification, or the delisting of sample companies [2]

Group 1 - The core viewpoint of the news is that the China Hong Kong 300 Infrastructure Index has shown positive performance, with a 4.41% increase over the past month, a 7.48% increase over the past three months, and a 7.41% increase year-to-date [1] - The index is composed of selected securities from the China Hong Kong 300 Index, focusing on various industry themes such as banking, transportation, resources, infrastructure, logistics, and leisure [1] - The index was established on December 31, 2004, with a base point of 1000.0 [1] Group 2 - The top ten weighted holdings in the China Hong Kong 300 Infrastructure Index include China Mobile (34.26%), CLP Holdings (8.4%), Cheung Kong (7.42%), China Telecom (5.2%), Hong Kong and China Gas (4.89%), Power Assets Holdings (4.71%), China Unicom (3.61%), ENN Energy (3.12%), China Resources Power (2.52%), and CK Infrastructure Holdings (2.41%) [1] - The index's holdings are entirely composed of securities listed on the Hong Kong Stock Exchange, with a 100% allocation [1] - In terms of industry composition, telecommunications services account for 52.05%, utilities for 40.92%, construction and decoration for 4.75%, and transportation for 2.28% [1] Group 3 - The index sample is adjusted biannually, with adjustments occurring on the next trading day following the second Friday of June and December each year [2] - Weight factors are adjusted in accordance with the sample adjustments, which are fixed until the next scheduled adjustment unless a special circumstance arises [2] - Companies that are delisted or undergo mergers, acquisitions, or spin-offs are handled according to the calculation and maintenance guidelines [2]

Core Viewpoint - The company expresses cautious optimism regarding its business outlook, supported by a total shareholder return of approximately 28% since the beginning of 2024, indicating strong investor support for its stable operations [1] Group 1: Business Performance - The company has consistently increased its dividends annually since its listing in 1996, demonstrating a commitment to creating stable and sustainable value for shareholders [1] - The majority of the company's investment portfolio consists of regulated projects, which provide resilient earnings and cash flow [1] Group 2: Acquisitions and Financial Position - The company completed several acquisitions last year, including projects in Northern Ireland and the UK, which were deemed successful [2] - As of the end of 2024, the company holds approximately 8 billion HKD in cash, with a healthy net debt to net total capital ratio of 7.8%, positioning it well for future growth and acquisition opportunities [1][2] Group 3: Regulatory Environment and Market Conditions - The company’s operations are primarily in regulated sectors, which are relatively stable and less affected by tariffs [2] - The company is preparing for regulatory resets for nine of its regulated businesses in 2025 or 2026, with recent resets showing improved allowed profits and return rates due to inflation and rising capital expenditure [2] Group 4: Future Listing and Financial Discipline - The company is set to officially list on the London Stock Exchange on August 19, 2024, which is expected to enhance financing channels for future acquisitions [2] - The company emphasizes strict financial prudence and discipline in its acquisition strategy, avoiding a "must-win" mentality [2]

Financial Performance - Shareholders' profit attributable to the company reached HKD 8,115 million in 2024, reflecting a 1.1% increase from HKD 8,027 million in 2023[25] - The company declared an interim dividend of HKD 1,814 million and a proposed final dividend of HKD 4,687 million for 2024, resulting in a total dividend of HKD 6,501 million, up from HKD 6,450 million in 2023[25] - The earnings contribution from operational businesses recorded a strong growth of 10% year-on-year[26] - The company’s earnings per share for 2024 was HKD 3.22, slightly up from HKD 3.19 in 2023[22] - CK Infrastructure Holdings Limited reported a strong operational profit growth of 10% year-on-year, with a net profit of HKD 8.115 billion for the year ending December 31, 2024, representing a 1% increase from the previous year[29] - The full-year dividend for 2024 was HKD 2.58 per share, marking 28 consecutive years of dividend growth since the company's listing in 1996[55][57] Financial Position - Total assets amounted to HKD 157,837 million in 2024, a decrease from HKD 165,873 million in 2023[22] - The net debt to total equity ratio stood at 7.8%, indicating stable financial leverage[7] - The company’s cash balance was HKD 8,115 million, reflecting a solid liquidity position[7] - The company held cash of HKD 8 billion as of December 31, 2024, with a net debt to total capital ratio of 7.8%, indicating strong financial stability[49] Business Operations - The company operates a diversified business portfolio across energy infrastructure, transportation, water treatment, and waste management, with investments spanning multiple regions including Hong Kong, mainland China, the UK, and Australia[3] - The company completed several acquisitions, including Phoenix Energy in Northern Ireland and UK Renewables Energy, which immediately contributed to revenue post-transaction[29] - The company launched a brand revitalization initiative for ista, including acquisitions in the electric vehicle charging sector and expanding international operations[42] - The company is focused on sustainable development, with ongoing projects in smart grids and renewable energy integration in the UK and Australia[51] - The company is committed to environmental sustainability and aims to lead the industry in net-zero energy systems through innovative infrastructure projects[83] Regional Performance - The UK business segment recorded a profit contribution of HKD 3.981 billion, a 31% increase year-on-year, with regulated businesses performing well[34] - The Australian business segment's profit contribution decreased by 4% to HKD 1.784 billion, primarily due to increased tax expenses from new capital rules, although profit would have increased by 6% without this tax impact[38] - The European business segment's profit contribution grew by 13% to HKD 670 million, driven by strong performance from ista, which set internal growth records during the year[42] - Canadian business profit contribution fell by 19% to HKD 524 million, attributed to a significant decline in Canadian Power profits and new financing regulations[43] - The profit contribution from New Zealand operations was HKD 185 million, an increase of 10% year-on-year (12% in local currency) driven by strong performance from Enviro NZ[47] - Profit contribution from Hong Kong and mainland China was HKD 132 million, up 13% from last year, with higher contributions from the concrete business in Hong Kong[48] Strategic Initiatives - The company maintains a cautious optimism regarding business prospects for 2025 amid global uncertainties and geopolitical tensions[53] - The group aims to maintain a disciplined investment approach to optimize risk-adjusted returns and generate consistent cash flow[81] - The company focuses on acquiring high-quality businesses that provide substantial recurring returns to strengthen its investment portfolio[81] - The group emphasizes internal growth and value creation within its existing business portfolio, leveraging capital allocation opportunities in energy and water networks[80] - The company promotes a corporate culture that emphasizes health, safety, creativity, diversity, and innovation among its employees[84] Sustainability and Innovation - The company is committed to eliminating coal-fired power generation by 2035, aligning with the government's carbon reduction target of a 50% decrease from 2005 levels[167] - UK Power Networks has set a target to achieve net-zero emissions by 2040, with a verified goal of reducing long-term emissions by at least 90% from a 2019 baseline year[179] - Northumbrian Water launched the UK's first smart sewer system project in 2024, utilizing AI technology and smart sensors to mitigate flooding issues, with an investment of £20 million[185] - Wales & West Gas Networks aims to reduce methane emissions by 16% by utilizing 21 biomethane gas production facilities connected to its pipeline network during the new regulatory period RIIO-GD3[193] - The NextGen Electrolysis project by Wales & West Gas Networks aims to produce green hydrogen from industrial wastewater, significantly reducing energy consumption and financial costs[194] Awards and Recognition - The company was recognized as the UK's Best Big Company to Work For and received multiple awards for its workplace culture and customer service excellence[177] - Phoenix Energy received a five-star rating and 99% score in a GRESB assessment, recognizing its environmental, social, and governance (ESG) performance[197] - Phoenix Energy was awarded the Great Place to Work certification in December 2024, acknowledging its commitment to creating an excellent work environment for employees[199]

智通财经APP获悉，摩根大通发布研报称，随着美国十年期国库券收益率达到约4%，并且该行的美国 经济学家预计未来可能有150个基点的降息，该行建议在当前水平吸纳长江基建集团(01038)和电能实业 (00006)。该两股份本年至今表现较指数和同行分别落后28%和17%。该行认为，这种低迷表现可能在第 二季度逆转。 该行看到三个买入理由：(1)对关税和地缘政治紧张局势的担忧可能导致资金流向防守型股票，而长江 基建和电能实业是该行覆盖的香港公用事业股票中最便宜的，收益率约5.5%至5.9%，相较于同行的约 5%;(2)宏观环境利好这两家公司，美国10年期收益率年至今下降50个基点，美元(美汇指数本年至今累 跌5%)，降息以及可能的监管重置利好。2024年下半年疲软的业绩部分由11月和12月的美元强势推动， 这种情况可能在2025年上半年逆转;(3)当前估值较该行的估计显示其监管资产价值(RAV)有约20%的折 让，比历史平均水平低约10个百分点。这与基本面不符，因为该行预测2022年至2026年间RAV将至少增 长25%，且下一次监管重置的回报率可能趋于上升。 该行的美国经济学家预测今年将降息150个基点，美国10 ...