CLSA Foresees Multiple Catalysts for Hong Kong Conglomerates in 2025, Top Picks CKH Holdings (00001) and CTF Services (00659)

Stock News11-18

CLSA released a research report stating that Hong Kong conglomerates are expected to see multiple catalysts in 2025. The firm forecasts a 5% growth in recurring profits for these conglomerates in 2026, supported by a weaker US dollar. It believes these companies will continue actively enhancing shareholder returns, with dividends projected to rise by approximately 3% year-on-year. Investors are advised to seek reasonable returns through dividends while awaiting these catalysts.

The report highlights that Hong Kong conglomerates currently trade at a 32% discount to net asset value per share, with an estimated 2026 dividend yield of 4.6%, slightly above the 10-year average of 4.5%. CLSA's top picks are CKH Holdings (00001) and CTF Services (00659), citing attractive risk-reward profiles, with target prices raised to HK$61 and HK$9.6, respectively. The firm also favors First Pacific (00142) and Swire Pacific A (00019), with target prices of HK$8.2 and HK$74, all rated "Outperform."

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