智通财经网·2026-03-20 08:14Group 1 - Goldman Sachs reported that CK Hutchison's (00001) 2025 performance met expectations, with a basic net profit of HKD 22.3 billion, a 7% year-on-year increase, excluding a one-time loss of HKD 10.5 billion from the merger of 3UK and Vodafone UK [1] - The group's EBITDA grew by 7% year-on-year in local currency, indicating stable performance across various business segments [1] - The company declared a final dividend of HKD 1.6, with an annual dividend of HKD 2.3, representing a 5% increase and a stable payout ratio of approximately 40% [1] Group 2 - Goldman Sachs raised its earnings per share forecast for CK Hutchison by 11% for this year, while maintaining the forecast for next year and introducing projections for 2028 [2] - For the fiscal year 2026, Goldman Sachs predicts a 16% year-on-year growth in core earnings to HKD 25.9 billion, driven by synergies from the UK telecom merger and the benefits from rising oil prices for Cenovus Energy [2] - Sensitivity analysis indicates that a USD 1 increase in oil prices could lead to an increase in CK Hutchison's earnings by approximately HKD 300 million or 1-2% [2]