MB-PWRA@EC2701A

CCOE

STARCOIN GROUP

ONEFORCE HLDGS

ROYAL DELUXE

STELUX HOLDINGS

TE HEALTHCARE

ASIAPAC FIN INV

WELIFE TECH

DRINDA

TIMELESS

HGKGY

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ENGIY

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UBS released a report stating that CKI Holdings and Power Assets Holdings, both under CK Hutchison Holdings, will sell their respective 40% stake in UK Power Networks to Engie, with a total transaction amount of £10.5 billion. It is expected that CK Hutchison will confirm an effective gain of HKD 14.5 billion, and the net debt ratio will decrease to 11.7%. The bank maintains a "Buy" rating on CK Hutchison, with a target price of HKD 67

AASTOCKS

Power Assets Holdings

CKI HOLDINGS

POWER ASSETS

CKH HOLDINGS

ADOMANI

Penghua CSI All Share Utilities ETF

Bosera CSI All Share Electric Utilities ETF

Select Sect Spdr Util

VG Utilities

GF CSI All Share Power Public Service ETF

ISHRS S&P Glb Utilities

ChinaAMC Green Electricity ETF

"Big Banks" UBS: Selling UK Power Networks is slightly positive for CKH HOLDINGS, rating "Buy"

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UBS pointed out that the transaction in which CK Infrastructure, Power Assets, and CK Asset sold UKPN to Engie is overall positive for Power Assets, with an expected revenue of approximately HKD 10.7 billion. The transaction valuation is attractive, but the likelihood of a special dividend distribution in the short term is low, and Power Assets may be more inclined to use the funds for new acquisitions. The "Buy" rating on Power Assets is maintained, with a target price of HKD 70

CK ASSET

UBS: Selling UKPN is positive for POWER ASSETS

Daiwa released a research report stating that CKI HOLDINGS, POWER ASSETS, and Cheung Kong Infrastructure will sell their entire stake in UK Power Networks (UKPN) to the French utility company Engie, with a transaction value of approximately £10.55 billion. CKI HOLDINGS expects this transaction to generate HKD 44 billion in revenue and is expected to turn its net debt into net cash. Daiwa has given CKI HOLDINGS an "outperform" rating, believing that this sale will enhance long-term returns and maximize cash flexibility

Daiwa: CKI HOLDINGS' sale of UKPN offers excellent long-term returns, maintaining "Outperform the Market"

CK ASSET's basic profit is expected to drop by 4% to HKD 13.2 billion last year, with a full-year dividend per share rising by 2% to HKD 1.77. CK Infrastructure, POWER ASSETS, and CK ASSET announced the sale of their entire stake in UK Power Networks to the French utility company Engie, with a transaction value of approximately GBP 10.548 billion. Morgan Stanley expects CK ASSET to achieve a profit of HKD 8.4 billion, with a net income of HKD 22.2 billion and a dividend payout ratio of 47%. The target price remains at HKD 47, with a rating of "Overweight."

Morgan Stanley expects CK ASSET's basic profit last year to drop by 4% to HKD 13.2 billion, estimating a 2% increase in annual dividend per share to HKD 1.77

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The Hong Kong stock ADR is expected to open 204 points higher this morning, reporting at 26,586 points. The relative stock prices and the premium situation of Hong Kong stocks to American Depositary Receipts are as follows: CKH Holdings HKD 63.893 (premium 1.42%), CLP Holdings HKD 73.278 (premium 0.17%), HK & China Gas HKD 7.155 (premium 5.24%), Wharf Holdings HKD 25.182 (premium 3.49%), HSBC HOLDINGS HKD 147.806 (discount -1.90%), Power Assets HKD 62.72 (premium 1.40%), PCCW HKD 6.163 (discount -4.11%), HENDERSON LAND HKD 33.706 (premium 2.18%), SHK PPT HKD 139.282 (discount -2.14%), NEW WORLD DEV HKD 10.167 (premium 3.08%), SWIRE PACIFIC A HKD 82.036 (discount -0.41%), BANK OF E ASIA HKD 15.563 (discount -2.40%), GALAXY ENT HKD 44.154 (discount -6.15%), HANG LUNG PPT HKD 9.916 (discount -0.26%), Geely Automobile HKD 19.101 (discount -14.61%), CITIC Limited HKD 12.302 (premium 0.39%), CATHAY PAC AIR HKD 13.86 (discount -1.15%)

HSBC HOLDINGS

CLP HOLDINGS

NEW WORLD DEV

HENDERSON LAND

CATHAY PAC AIR

HANG LUNG GROUP

HK & CHINA GAS

WHARF REIC

SWIRE PACIFIC A

SWIRE PACIFIC B

HANG LUNG PPT

WHARF HOLDINGS

SHK PPT

BANK OF E ASIA

MIRAMAR HOTEL

PCCW

GALAXY ENT

The Hong Kong stock ADR is expected to open 204 points higher this morning, reporting at 26,586 points

Engie has raised its 2026 earnings guidance following its $14.2 billion acquisition of UK Power Networks. Despite a decline in full-year net profit to €3.83 billion from €4.11 billion in 2024, the company anticipates a recurring net profit of €4.6 to €5.2 billion in 2026, up from previous estimates. The adjustments are attributed to restructuring costs and impairment charges totaling €1.08 billion. Engie also set a new target for 2028, aiming for a recurring net profit of €5.2 to €5.8 billion.

MorningStar

Engie Raises Guidance After $14.2 Billion UK Power Networks Acquisition

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CK Hutchison subsidiaries Power Assets, CK Infrastructure, and CK Asset plan to sell UK Power Networks to France's Engie for £10.5 billion (US$14.24 billion). Power Assets expects a gain of HK$10.7 billion (US$1.37 billion) from its 40% stake, while CK Asset anticipates HK$8.4 billion from its 20% stake. CK Infrastructure estimates a gain of HK$14.5 billion from its 40% stake. The sale is pending shareholder and regulatory approvals, with an enterprise value of approximately £15.8 billion.

marketscreener

CK Hutchison Holdings

CK Hutchison Subsidiaries, CK Asset to Sell U.K. Electricity Distributor to France's Engie

On the settlement day of the Hong Kong stock index futures, the Hang Seng Index fell 109 points to 26,656 points. CK Infrastructure led a consortium to sell UKPN, with its stock price rising by 5.5%. CKH HOLDINGS and POWER ASSETS rose by 3.8% and 5.3%, respectively. In the technology sector, Alibaba fell by 2.1%, and Baidu fell by 2.6%. AI stocks Zhipu and MiniMax rose by 1.1% and 3.3%, respectively. The total turnover of the market for the half day was HKD 130.935 billion

"Hong Kong Stocks" Hang Seng Index futures settlement day down 109 points, CKH HOLDINGS up, CATL down over 5%

CK Infrastructure Holdings, CK Asset Holdings, and Power Assets Holdings have agreed to sell UK Power Networks to Engie for £10.5 billion (US$14.2 billion). This sale will allow the CK group to realize a significant accounting gain and generate cash for future investments. UK Power Networks, which serves 8.3 million consumers, was acquired by the CK group in 2010 for £5.77 billion. The group aims to pursue further investment opportunities in regulated industries and other promising markets.

南华早报

CK group agrees to sell UK electricity operator for US$14.2 billion

Hong Kong stocks ADR is expected to open 386 points higher this morning, at 27,152 points. The relative stock prices and the premium of Hong Kong stocks over ADRs are as follows: CKH HOLDINGS HKD 62.113 (-0.18%), CLP HOLDINGS HKD 75.569 (-0.69%), HK & CHINA GAS HKD 7.51 (1.46%), WHARF HOLDINGS HKD 25.19 (3.53%), HSBC HOLDINGS HKD 147.383 (-3.18%), POWER ASSETS HKD 61.41 (-0.18%), PCCW HKD 6.164 (-3.31%), HENDERSON LAND HKD 34.186 (1.15%), SHK PPT HKD 137.918 (-1.10%), NEW WORLD DEVELOPMENT HKD 10.814 (3.01%), SWIRE PACIFIC A HKD 83.196 (-0.48%), BANK OF E ASIA HKD 15.568 (-1.98%), GALAXY ENT HKD 44.278 (-2.25%), HANG LUNG PPT HKD 10.201 (-1.97%), GEELY AUTO HKD 19.107 (-12.86%), CITIC LIMITED HKD 12.305 (0.93%), CATHAY PAC AIR HKD 13.502 (0.36%)

SWIREPROPERTIES

GLORIOUS PPT H

GEELY AUTO

PCPD

HENDERSON INV

The Hong Kong stock ADR is expected to open 386 points higher this morning, reporting at 27,152 points

CK Hutchison Holdings and CK Infrastructure Holdings are selling their combined 100% stake in UK Power Networks, a major electricity distribution operator in the UK. The deal involves divesting 40%, 40%, and 20% interests from CKI, PAH, and CKA, respectively. This disposal aims to monetize a long-held investment at an attractive valuation, generating significant accounting gains and freeing cash for future investments. The transaction is subject to conditions and requires shareholder approvals under Hong Kong listing rules. The current analyst rating for CK Hutchison stock is a Hold with a price target of HK$67.00.

Tip Ranks

CK Hutchison Group to Exit UK Power Networks in Major Disposal

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HSBC's research report indicates that the Hong Kong utilities sector has outperformed the Hang Seng Index, influenced by macroeconomic factors and market sentiment. CK Infrastructure is regarded as the top choice, with the target price raised to HKD 75 and a rating of "Buy." The target price for HKELECTRIC has been raised to HKD 7.8, also with a "Buy" rating. Other utility stocks such as CLP Holdings and POWER ASSETS have also been given "Buy" or "Hold" ratings

HKELECTRIC-SS

HSBC Research: The Hong Kong utilities sector outperformed the Hang Seng Index, with CKI Holdings as the top pick

The Hong Kong stock ADR is expected to open 191 points lower this morning, reporting at 26,891 points. The relative stock prices and the premium situation of Hong Kong stocks to the American Depositary Receipts are as follows: CKH HOLDINGS HKD 63.301 (premium 1.50%), CLP HOLDINGS HKD 77.954 (premium -0.71%), HK & CHINA GAS HKD 7.314 (premium 5.14%), WHARF HOLDINGS HKD 25.164 (premium 4.51%), HSBC HOLDINGS HKD 136.605 (premium -0.52%), POWER ASSETS HKD 59.628 (premium 3.98%), PCCW HKD 6.338 (premium -6.12%), HENDERSON LAND HKD 33.526 (premium 3.20%), SHK PPT HKD 139.536 (premium 0.33%), NEW WORLD DEV HKD 10.708 (premium 1.51%), Swire Properties A HKD 81.588 (premium 0.08%), BANK OF E ASIA HKD 15.552 (premium -0.91%), GALAXY ENT HKD 44.233 (premium -0.98%), HANG LUNG PPT HKD 10.191 (premium 0.28%), Geely Automobile HKD 19.088 (premium -9.94%), CITIC Limited HKD 12.723 (premium -2.46%), CATHAY PAC AIR HKD 12.957 (premium -0.90%)

HKT-SS

The Hong Kong stock ADR is expected to open 191 points lower this morning, reporting at 26,891 points

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Hong Kong stocks ADR is expected to open 400 points lower this morning, reporting at 26,632 points. The relative stock prices and the premium situation of Hong Kong stocks to the American Depositary Receipts are as follows: CK Hutchison Holdings 63.243 HKD (premium 0.41%), CLP HOLDINGS 77.236 HKD (premium -0.44%), Hong Kong and China Gas 7.27 HKD (premium 5.50%), Wharf Real Estate Investment 24.742 HKD (premium 9.21%), HSBC Holdings 135.694 HKD (premium 2.80%), POWER ASSETS 60.976 HKD (premium 1.02%), PCCW 6.047 HKD (premium -0.12%), Henderson Land Development 32.274 HKD (premium 1.44%), Sun Hung Kai Properties 133.208 HKD (premium 0.22%), NEW WORLD DEV 11.304 HKD (premium -5.34%), Swire Properties A 80.597 HKD (premium 0.44%), BANK OF E ASIA 15.478 HKD (premium 2.79%), Galaxy Entertainment 44.246 HKD (premium -2.86%), Hang Lung Properties 9.78 HKD (premium 0.10%), Geely Automobile 19.094 HKD (premium -11.44%), CITIC Limited 12.727 HKD (premium -1.55%), Cathay Pacific Airways 12.817 HKD (premium 1.19%)

Hang Seng Index

TRACKER FUND

Hong Kong stocks ADR expect the Hang Seng Index to open 400 points lower this morning, reporting at 26,632 points

MB-PWRA@EC2701A(25711.HK)

"Big Banks" UBS: Selling UK Power Networks is slightly positive for CKH HOLDINGS, rating "Buy"

UBS: Selling UKPN is positive for POWER ASSETS

Daiwa: CKI HOLDINGS' sale of UKPN offers excellent long-term returns, maintaining "Outperform the Market"

Morgan Stanley expects CK ASSET's basic profit last year to drop by 4% to HKD 13.2 billion, estimating a 2% increase in annual dividend per share to HKD 1.77

The Hong Kong stock ADR is expected to open 204 points higher this morning, reporting at 26,586 points