Ge Long Hui·2026-03-19 05:45Group 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]