CK Asset's first-half profit falls 26% amid Hong Kong property market challenges
Profit attributable to shareholders fell 26.2 per cent to HK$6.3 billion (US$806.4 million) in the six months to June, according to a filing to the Hong Kong stock exchange on Thursday. The earnings were way below analysts' expectations of about HK$14.2 billion polled by Bloomberg. Revenue grew 15.34 per cent to HK$25.39 billion.
Earnings per share dropped to HK$1.8 from HK$2.44.
CK Asset's property sales in Hong Kong came in at HK$2.8 billion, compared with HK$2.6 billion a year earlier on rising presales. But profit fell sharply to HK$74 million from HK$1.04 billion a year earlier. The gain included sales of half of the completed units in phase one of The Coast Line in Yau Tong.
CK Asset's logo is seen The Coast Line residential development in August 2023. Photo: Dickson Lee
Chairman Victor Li Tzar-kuoi said the residential property market in Hong Kong remained challenging, and the retail and commercial property sector remained weak during the first half of 2025.
'The Hong Kong government has introduced various measures to support the real estate market and improve investor sentiment,' he said. 'Housing and land policies and interest rate movements will continue to be determining factors for the property market.'
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