Sou Hu Cai Jing·2025-05-13 04:28Core Viewpoint - Recent actions by Li Ka-shing, including the sale of 43 ports and significant price cuts on luxury properties, have raised questions about his financial strategy and potential cash needs [1][12]. Group 1: Property Sales - Li Ka-shing's company, Cheung Kong Holdings, has drastically reduced the price of its luxury project "Yuxu Garden" in Beijing, with prices dropping from an average of 90,700 to 70,000 yuan per square meter, representing a nearly 30% decrease [3][5]. - The total price for some units has fallen to as low as 9.8 million yuan, which is approximately a 30% reduction compared to the initial launch price [3][5]. - Cheung Kong Holdings has introduced a compensation plan for previous buyers, offering either renovation subsidies or cash compensation ranging from 900,000 to 1 million yuan, indicating the unusual nature of this price drop [5][7]. Group 2: Market Context - The timing of the price cuts is notable, occurring shortly after a government emphasis on stabilizing the real estate market, which raises questions about the company's alignment with policy signals [7][11]. - Historical context shows that the land for "Yuxu Garden" was acquired in 2001 for only 1,750 yuan per square meter, highlighting the significant appreciation in property value over the years [9][11]. - The lengthy development timeline of the project, which only opened in 2024, suggests strategic planning by Li Ka-shing to navigate regulatory frameworks while maximizing returns [11][12]. Group 3: Asset Reallocation - There are ongoing speculations about Li Ka-shing's intentions to shift assets abroad, as evidenced by the sale of prime properties in major cities like Beijing and Shanghai [12][13]. - Since 2023, Cheung Kong Holdings has moved its registration to the Cayman Islands, indicating a potential strategy for asset reallocation and international investment [13]. - Despite rumors of financial distress, Li Ka-shing's public appearances suggest a stable financial position, contradicting claims of an urgent need for cash flow [15].