Cheung Kong (1113) held its annual general meeting. Chairman Li Zeju said that from time to time, people will introduce Hong Kong and global projects to the group, and they will pay attention to whether the projects are of high quality, stable and good returns.
He pointed out that the new crown epidemic is indeed hard, and many colleagues have been infected, especially colleagues outside Hong Kong.
For the Group, the epidemic is a "stress test", and it is considered that this result is "ok", which highlights the high-quality value of the Group's assets, and at the same time shows that strict financial discipline is sufficient to withstand major storms.
Shareholders asked whether special dividends would be paid after the sale of aircraft leasing and some leasehold projects. He said, “We certainly want to share the profits with our shareholders. Transactions or opening of new projects are also particularly advantageous. For the long-term interests of shareholders, in addition to paying dividends appropriately according to the profit situation, we will also use sufficient funds to promote the future development of the company. We hope that shareholders will be happy with this strategy.”
He reiterated that the investment will not focus on the project location, regardless of whether Hong Kong, the mainland and the United Kingdom will be considered.
In his personal relationship, Hong Kong will be the majority, but he believes that as an international group, investment will not be limited to Hong Kong. "Our DNA is a global company, and we have invested and done business all over the world decades ago. The group has invested in more than 50 countries and In operation, most of the 360,000 employees around the world do not know Chinese and have never been to Hong Kong. For us, every place is a local market.”
Li Zeju said that at present, funds are easy to use, with sufficient cash and low debt ratio, and it is also particularly advantageous to do transactions or open new projects.
(provided by the company)
Repurchase affirms confidence in the group's assets and team
During the epidemic, Li Zeju admitted that he felt hard, and many colleagues fell ill, which was like a stress test for the company.
This time, Cheung Kong's test results are "OK", and he also sees that the assets in his hands are of high quality, and it reflects the two words "Financial Displine (financial discipline)". , can withstand strong wind and waves.
Recently, Li Zeju and his father, Li Ka-shing, a senior consultant of the group, have continued to increase their holdings. When a shareholder asked whether they would continue or even privatize the company, he pointed out that the repurchase must be full of confidence in the group's assets and team, but whether to continue to increase their holdings, Due to regulatory regulations, he said he could not answer.
In addition, he pointed out that reducing carbon emissions is a global issue and has urgency. He has been devoted to the research and development of various environmental protection solutions, and he also pays special attention to everything that can improve the performance of the ecosystem. A particular focus is on projects that could bring about a disruptive carbon reduction transition.
Cheung Kong repurchased a total of 615,000 shares twice in less than a week, involving a capital of 32.61 million yuan. Last month, Cheung Kong won nearly 6 billion yuan for the four-in-one reconstruction project at Kwawan, which was more than 8% higher than the second standard. Cheung Kong completed the sale of aircraft leasing business. The rate of return is close to double digits, and the Fung Lok Wai project in Fau Shan, Cheung Si Lau was approved by the judicial review and the appeal of the Town Planning Board was upheld
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