CKH HOLDINGS(HK:00001) Sou Hu Cai Jing·2025-11-24 09:55Group 1 - CK Hutchison Holdings Limited (referred to as "CK Hutchison") is considering the spin-off of its Watsons Group, with plans for dual listings in Hong Kong and the UK, aiming to raise up to $2 billion (approximately RMB 14.215 billion) [1] - The IPO plan for Watsons was previously delayed due to the pandemic and a downturn in investor sentiment, but with the recent recovery in the global IPO market, the spin-off is back on the agenda, potentially starting in the first half of 2026 [1] - The listing plan for Watsons is still in the preliminary evaluation stage, with no final decisions made regarding the specific issuance scale and timeline [1] Group 2 - CK Hutchison's retail segment, which includes Watsons Group, reported total revenue of HKD 98.84 billion (approximately RMB 90.271 billion) for the first half of 2025, representing an 8% year-on-year increase [2] - Despite strong global performance, revenue in China totaled HKD 6.666 billion (approximately RMB 6.088 billion), reflecting a year-on-year decline of 3.1% [2] - The announcement indicated that the health and beauty product business in China will continue to face challenges in the second half of the year [2]