Core Viewpoint - The Cheung Kong Group and its subsidiary, CK Asset Holdings, are facing scrutiny due to their strategy of aggressively discounting properties, which has led to increased sales but significant losses in company performance [2][5]. Financial Performance - For the first half of the year, CK Asset reported revenue of approximately HKD 25.386 billion, a year-on-year increase of 15.3% [2]. - Shareholder profit was HKD 6.302 billion, a substantial decline of nearly 27%, primarily due to a significant reduction in the valuation of investment properties [2]. Property Sales - The company confirmed property sales revenue of HKD 7.366 billion, a year-on-year increase of nearly 59% [5]. - Mainland property sales accounted for about 52% of total sales, generating HKD 3.83 billion, which represents a year-on-year growth of approximately 117% [5]. - However, the sales revenue from the business segment showed a decline of about 3%, with Hong Kong sales revenue plummeting over 92% to approximately HKD 74 million [5]. Discounting Strategy - Since 2024, CK Asset has frequently discounted various projects in Hong Kong, with the Blue Coast project selling at HKD 21,900 per square foot, which is 30% lower than the surrounding second-hand property prices and 22% below the cost price [5]. - Other projects in Hong Kong, such as the LYOS project and the Tuen Mun project, have also seen varying degrees of discounts [5]. Future Outlook - The low-interest environment in Hong Kong has led to a rebound in transaction volumes, particularly for smaller units, but overall property prices lack upward momentum due to high supply [6]. - The company plans to maintain a flexible pricing strategy to reduce inventory, although the discounting approach will continue to impact performance [6]. - The land reserve is at a relatively low level, with approximately 67 million square feet of developable land, including 6 million square feet in Hong Kong, 58 million square feet in mainland China, and 3 million square feet overseas [6].

Core Viewpoint - The article discusses the financial performance of Cheung Kong Group and its subsidiary, CK Asset Holdings, highlighting the impact of aggressive discounting strategies on property sales and overall profitability [3]. Financial Performance - In the first half of the year, CK Asset Holdings reported revenue of approximately HKD 25.386 billion, a year-on-year increase of 15.3% [3]. - Shareholder profit was HKD 6.302 billion, a significant decline of nearly 27%, primarily due to a substantial reduction in the valuation of investment properties [3]. Property Sales - The company confirmed property sales revenue of HKD 7.366 billion, a year-on-year increase of nearly 59% [5]. - Mainland property sales accounted for about 52% of total sales, achieving HKD 3.83 billion, a year-on-year growth of approximately 117% [5]. - However, the sales revenue from the Hong Kong region dropped significantly, with only HKD 74 million realized, a decrease of over 92% [5]. Discounting Strategy - Since 2024, CK Asset has frequently discounted various projects in Hong Kong, with the Blue Coast project selling at HKD 21,900 per square foot, which is 30% lower than the surrounding second-hand property prices and 22% below the cost price [5]. - Similar discounting strategies were observed in mainland projects, such as the discounted pricing for high-end properties in Beijing and Dongguan [5]. Future Outlook - The company anticipates that the profitability from property development will not be significant in the coming years, as stated by the financial management team [6][7]. - As of June, CK Asset's land reserves were at a relatively low level, with approximately 67 million square feet available for development, distributed across Hong Kong, mainland China, and overseas [7].

Core Viewpoint - The Cheung Kong Group, led by the Li Ka-shing family, is facing scrutiny due to its strategy of aggressively discounting properties for sale, which, while boosting sales volume, has negatively impacted the company's financial performance [2][4]. Financial Performance - For the first half of the year, Cheung Kong Group reported revenues of approximately HKD 25.386 billion, a year-on-year increase of 15.3% [2]. - The net profit attributable to shareholders was HKD 6.302 billion, representing a significant decline of nearly 27%, primarily due to substantial reductions in the valuation of investment properties [2]. Property Sales - The confirmed property sales revenue for the first half reached HKD 7.366 billion, marking a substantial year-on-year increase of nearly 59% [4]. - Sales from mainland properties accounted for about 52% of total sales, generating HKD 3.83 billion, which is a year-on-year growth of approximately 117% [4]. - However, the sales revenue from the business segment showed a decline in profit, with a revenue of HKD 1.768 billion, down about 3% [4]. Discounting Strategy - Since 2024, Cheung Kong Group has frequently discounted various projects in Hong Kong, with the Blue Coast project selling at HKD 21,900 per square foot, which is a 30% discount compared to surrounding second-hand property prices [4]. - Other projects, such as the LYOS project and the Tuen Mun project, have also seen varying degrees of price reductions [4]. Future Outlook - The company’s management indicated that the current low-interest environment in Hong Kong has led to a rebound in transaction volumes, particularly for small to medium-sized units, but overall property prices remain under pressure due to high supply [5]. - The strategy of discounting properties is expected to continue affecting the company's performance, with future profitability from property development anticipated to be limited [5]. - As of June, the company's land reserves are at a relatively low level, with approximately 67 million square feet of developable land, including 6 million square feet in Hong Kong, 58 million square feet in mainland China, and 3 million square feet overseas [5].