CK ASSET(HK:01113) 智通财经网·2026-02-23 07:29Core Viewpoint - DBS has released a report indicating that Cheung Kong Group's (01113) Kai Tak project "Floral Sea" has received pre-sale consent for its first and second phases, making it a key focus for the group this year. The bank believes the group's balance sheet is robust, raising the target price from HKD 45.2 to HKD 51.6 while maintaining a "Buy" rating [1] Group 1: Market Conditions - Since the fourth quarter of last year, the Hong Kong residential market has emerged from its low point, with improved demand across various property types, which will benefit the sales of "Floral Sea" [1] - The report anticipates a positive response to the launch of "Floral Sea" along with two other projects in Yuen Long and Kam Tin, providing upward potential for the stock price [1] Group 2: Business Operations - The UK pub business is facing ongoing cost inflation pressures, and macroeconomic challenges are limiting consumer spending, resulting in limited pricing power [1] - In contrast, the earnings from infrastructure and utility assets remain stable [1] - The group agreed to sell its stake in UK railway assets, expecting to realize substantial sale proceeds in the fiscal year 2026 [1]