Yangtze Infrastructure Announces Financial Report: Last Year’s Revenue and Net Profit Doubled

Hong Kong billionaire Li Ka-shing and his conglomerate have been in the spotlight following the announcement of the sale of assets including a port in the Panama Canal. On March 19, the CK Infrastructure Holdings Group released its 2024 performance, showing growth in both operating income and net profit compared to the previous year.

According to reports from the Hong Kong Economic Times and Daily Economic News, CK Infrastructure Holdings Group reported an operating revenue of HK$38.985 billion in 2024, representing a 1.04% increase year-on-year. Net profit attributable to shareholders was HK$8.115 billion, up 1.1% compared to the previous year.

The UK business portfolio showed strong growth with a profit contribution of HK$3.98 billion, a 31% year-on-year increase. In Australia, the profit contribution was HK$1.78 billion, a 4% decrease attributed to increased tax expenses due to revised capital weakening rules introduced last year. Excluding this tax impact, profit contribution increased by 6%.

Driven by strong performance from its ISTA division, the European continental business saw a 13% increase in profit contribution to HK$610 million. Profit contribution from the Canadian business decreased by 19% to HK$520 million, attributed to a significant drop in profits from Canadian Power and the introduction of the EIFEL regulations restricting excess interest and financing costs.

The New Zealand business contributed HK$190 million, a 10% year-on-year increase. Meanwhile, profit contribution from Hong Kong and mainland China reached HK$130 million, a 13% increase. CK Infrastructure Chairman Li Tzar-koo stated that global markets continue to be affected by uncertainty, geopolitical tensions, higher interest rates, and inflation. Despite the volatile environment, CK Infrastructure remains a stable and reliable investment option.

As shown on the CK Infrastructure Group’s official website, the company is one of the world’s largest global infrastructure groups with diversified businesses including energy infrastructure, transportation infrastructure, water treatment infrastructure, waste management, turning waste into energy, building services infrastructure, and related businesses.

CK Infrastructure’s mainland China investment portfolio includes multiple toll roads and bridges in Guangdong Province. Notably, Li Ka-shing’s real estate companies in mainland China and Hong Kong have been offering discounts on property sales, with discounts reaching up to 50%, sparking public attention.

According to reports by Red Star News last October, Li Ka-shing’s “Yu Cui Yuan” project in Beijing’s Chaoyang District recently opened with a direct discount sale at 24% off. Nearby resale prices for second-hand properties generally range from RMB 90,000 to RMB 110,000.

Public records show that “Yu Cui Yuan” was developed by Cheung Kong Property Holdings under Hutchison Whampoa Real Estate (Beijing Chaoyang) Limited. The land plot for the Yaojiayuan project, where “Yu Cui Yuan” is located, was acquired by Hutchison Whampoa for 700 million yuan in 2001. More than 20 years after acquiring the land, the second phase of the project, “Yu Cui Yuan,” was only launched to market last year.

Apart from discounting property sales, Li Ka-shing’s enterprises have been reducing their holdings in Chinese companies. Based on disclosures from the Hong Kong Stock Exchange, Li Ka-shing, Li Tzar-koo, and the Li Ka Shing (Canada) Foundation decreased their holdings of 20.82 million H shares of China Postal Savings Bank in December last year, reducing their stake from 5.07% to 4.96%. This marked their fifth reduction in holdings of China Postal Savings Bank H shares.