Cheung Kong Holdings

{{Short description|Hong Kong conglomerate}} {{distinguish|CK Hutchison Holdings|CK Asset Holdings|CK Infrastructure Holdings}} {{Advert|date=March 2023}} {{Use Hong Kong English|date=February 2017}} {{Use dmy dates|date=December 2020}} {{Infobox company | name = Cheung Kong (Holdings) Limited <br /> {{lang|yue-HK|長江企業控股有限公司}} | logo = Cheung Kong Holdings.svg | logo_size = 220px | type = Private | image = Cheung Kong Center.jpg | image_size = 220px | image_caption = Headquarters at the Cheung Kong Center | traded_as = | foundation = {{sda|1972}} | defunct = | location = Cheung Kong Center, Hong Kong Island, Hong Kong | key_people = {{ubl|Li Ka-shing (chairman)|Victor Li Tzar-kuoi (Managing Director & vice chairman)}} | industry = Conglomerate | products = Real estate, Investment, life sciences, IT, Hotels, telecommunications; & internet | revenue = HK$32.863 billion (US$4.2 billion) (2010) | operating_income = | net_income = HK$26.478 billion (US$3.4 billion) (2010) | num_employees = 9,500 (2010) | successor = | parent = CK Hutchison Holdings Limited | subsid = | homepage = | footnotes = Associates: Hutchison Whampoa <br /> Cheung Kong Infrastructure Holdings Limited <br />Hutchison Asia Telecommunications and TOM Group }}

{{Infobox Chinese | t = 長江實業 (集團) 有限公司 | s = 长江实业 (集团) 有限公司 | p = Chángjiāng Shíyè (Jítuán) Yǒuxiàn Gōngsī | j = {{kCantonese|長江實業集團有限公司}} | first = t }} '''Cheung Kong (Holdings) Limited''' is a multinational conglomerate, based in Hong Kong. It was one of Hong Kong's leading multi-national conglomerates. The company merged with its subsidiary Hutchison Whampoa on 3 June 2015, as part of a major reorganisation,<ref>{{cite news|last1=Sito|first1=Peggy|last2=Li|first2=Sandy|title=Li Ka-shing's two firms set for merger as Cheung Kong shareholders approve revamp|url=https://www.scmp.com/business/companies/article/1722910/cheung-kong-shares-suspended-shareholders-meet-talk-revamp|accessdate=12 March 2015|work=South China Morning Post|date=25 February 2015}}</ref> to become part of CK Hutchison Holdings.

The Chairman of Cheung Kong Holdings was Li Ka-shing, while his elder son, Victor Li, was managing director and deputy chairman. Li Ka-shing founded Cheung Kong Industries in the 1950s as a plastics manufacturer. Eventually the company evolved into a property investment company. Cheung Kong (Holdings) Limited was established in 1971.<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=1:HK|title=cheung kong holdings ltd (1:Hong Kong)|publisher=Businessweek|accessdate=21 March 2013|archive-url=https://web.archive.org/web/20130618203127/http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=1:HK|archive-date=18 June 2013|url-status=dead}}</ref>

The Cheung Kong Group develops residential, office, retail, industrial and hotel properties in Hong Kong, with a history of property development and residential estates. As part of a reorganisation, a new company composed of the group's property assets was spun-off in June 2015 as Cheung Kong Property Holdings.<ref>{{Cite web |last=张津 |title=Mighty Li takes stock of empire |url=https://www.chinadaily.com.cn/a/201601/15/WS5a30cc80a3108bc8c672ee28.html |access-date=2023-04-06 |website=www.chinadaily.com.cn}}</ref>

==Component companies== <!--The group structure of Cheung Kong Holdings is shown below: 500px|center --> The market capitalisation of the Cheung Kong Group's Hong Kong-listed companies amounted to HK$1,148 billion on 31 January 2015. The group operates in over 50 countries and employs over 240,000 staff worldwide.<ref>{{Cite news |date=2010-07-30 |title=Li Ka-shing to bring his business drive to Britain |language=en |work=Reuters |url=https://www.reuters.com/article/us-likashing-idUSTRE66T1VC20100730 |access-date=2023-04-06|author-first1=Sui-Lee|author-last1=Wee}}</ref>

The group had nine companies: *Hutchison Whampoa Limited ({{sehk|13}}) *Cheung Kong Infrastructure Holdings Limited ({{sehk|1038}}) *Power Assets Holdings Limited ({{sehk|6}}) *CK Life Sciences Int'l., (Holdings) Inc. ({{sehk|775}}) *Hutchison Asia Telecommunications Limited *TOM Group Limited ({{sehk|2383}}) The company was first listed on the Hong Kong Stock Exchange in 1972 as Cheung Kong Holdings, and developed into a property development and strategic investment company, with interests in life sciences and other businesses.<ref>{{cite web|url=https://www.reuters.com/finance/stocks/companyProfile?symbol=0001.HK|title=Cheung Kong (Holdings) Ltd|publisher=Reuters|accessdate=18 April 2013}}</ref>

The company and Sun Hung Kai Properties together became increasingly dominant in the development of new private homes, accounting for 70% of the market in 2010, up from around half of that in 2003. This concentration, with much of the rest of the market occupied by other very large firms, is attributed to the government's policy of auctioning land in expensive large blocks, squeezing out small and mid-sized firms, according to the Consumer Council.<ref>{{cite news |last = Kwok | first = Vivian | title = Two developers tower over market | newspaper = South China Morning Post | date = 12 August 2010 | url = http://www.scmp.com/portal/site/SCMP/menuitem.2af62ecb329d3d7733492d9253a0a0a0/?vgnextoid=9808d8fed026a210VgnVCM100000360a0a0aRCRD&ss=&s=News | accessdate =12 August 2010}}</ref>

===Restructuring=== In January 2015, Li Ka-shing confirmed the business would be restructured and its property business spun-off as a separately listed company, Cheung Kong Property.<ref>{{cite news|last1=Yun|first1=Michelle|last2=Chan|first2=Vinicy|title=Cheung Kong to Buy Out Hutchison in $24 Billion Restructuring|url=https://www.bloomberg.com/news/articles/2015-01-09/cheung-kong-to-buy-out-hutchison-whampoa-spin-off-property-arm|accessdate=12 March 2015|work=Bloomberg Business|date=9 January 2015}}</ref> Under the plans, Cheung Kong Holdings purchased the shares in Hutchison Whampoa that it did not already own, and merged the companies under a new single holding company, CK Hutchison Holdings. The new holding company was established on 18 March 2015, based in the Cayman Islands, but listed in Hong Kong.<ref>{{cite news|last1=Sito|first1=Peggy|last2=Li|first2=Sandy|title=Li Ka-shing's two firms set for merger as Cheung Kong shareholders approve revamp|url=https://www.scmp.com/business/companies/article/1722910/cheung-kong-shares-suspended-shareholders-meet-talk-revamp|accessdate=12 March 2015|work=South China Morning Post|date=25 February 2015}}</ref>

Hutchison Whampoa was delisted on 3 June 2015, on the same day that a new company comprising the group's existing property assets, Cheung Kong Property Holdings, began trading.<ref>{{cite news|last1=Wong|first1=Imogene|title=Curtains down for Hutchison Whampoa|url=http://www.thestandard.com.hk/news_detail.asp?pp_cat=1&art_id=157349&sid=44548697&con_type=1|accessdate=31 May 2015|work=The Standard|date=27 May 2015}} {{dead link|date=December 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref>{{cite news|last1=Yun|first1=Michelle|title=Li Ka-shing's Property Spin Off Debuts at HK$70 in Hong Kong|url=https://www.bloomberg.com/news/articles/2015-06-03/li-s-cheung-kong-property-spin-off-debuts-at-hk-70-in-hong-kong|accessdate=25 August 2015|work=Bloomberg Business|date=3 June 2015}}</ref>

==Shareholdings==

===Telecommunications=== {{main article|Hutchison 3G}} The company operates mobile telephone services under the '''3''' brand in 10 countries, inherited from Hutchison Whampoa.{{Citation needed|date=March 2023}}

CK Hutchison's telecommunications subsidiaries in Hong Kong and Australia are listed companies; the company holds 66.09% and 87.87% stakes in these respectively.{{Citation needed|date=March 2023}}

===Cheung Kong Infrastructure Holdings Ltd=== {{main article|Cheung Kong Infrastructure Holdings}} The chairman of Cheung Kong Infrastructure Holdings Limited (CKI) is Victor Li Tzar-kuoi. CKI is the largest diversified infrastructure company listed on the Hong Kong Stock Exchange. It is a Hong Kong-based diversified infrastructure company, focused on the development, investment and operation of infrastructure businesses in countries such as China, Australia, and the United Kingdom.<ref>Cheung Kong Infrastructure Holdings Limited: ''[http://www.cki.com.hk/english/about_CKI/home/index.htm Chairman's message]''</ref>

CK Hutchison holds a 75.67% stake in the company.<ref>{{Cite web |last=Liu |first=Christoph |date=2019-06-13 |title=CK Hutchinson Holdings: A Hong Kong Conglomerate Relying On Europe (OTCMKTS:CKHUF) {{!}} Seeking Alpha |url=https://seekingalpha.com/article/4270210-ck-hutchinson-holdings-hong-kong-conglomerate-relying-on-europe |access-date=2023-03-24 |website=seekingalpha.com |language=en}}</ref>

===Power Assets Holdings Limited=== {{main article|Power Assets Holdings}} The chairman of Power Assets Holdings Limited is Canning Fok Kin-ning. The listed Hongkong Electric group of companies are<ref>Hongkong Electric Holdings Limited: ''[http://www.heh.com/hehWeb/AboutUs/CompanyProfile/Index_en.htm About us] {{webarchive |url=https://web.archive.org/web/20070928014958/http://www.heh.com/hehWeb/AboutUs/CompanyProfile/Index_en.htm |date=28 September 2007 }}''</ref> *The Hongkong Electric Company Limited (HEC), *Hongkong Electric International Limited (HEI), *Associated Technical Services Limited (ATS); and *some minor subsidiaries. The Hongkong Electric Company Limited mainly concentrates on the generation and supply of electricity on Hong Kong Island and Lamma Island. Hongkong Electric International Limited pursues overseas investment opportunities and Associated Technical Services Limited's principal activity is engineering consultancy and project management.{{Citation needed|date=March 2023}}

CK Hutchison holds a 38.87% stake in the company.{{Citation needed|date=March 2023}}

===CK Life Sciences Int'l., (Holdings) Inc.=== {{main article|CK Life Sciences}} CK Life Sciences is engaged in the business of research and development, commercialisation, marketing and sale of biotechnology products. Products developed by CK Life Sciences are categorised into two areas, human health and environmental sustainability.

CK Hutchison holds a 45.32% stake in the company.<ref>{{Cite web |date=2023-12-01 |title=2021 Annual Results Operations Analysis |url=https://www.ckh.com.hk/upload/assets/downloads/en/e_AR_2021_Operations_Analysis_20220317.pdf.pdf |access-date=2023-03-30}}</ref>

==Other investments== Apart from the core business of property development, CK Hutchison's ventures include TOM Group Limited.<ref>TOM Group: ''[http://www.tomgroup.com/eng/tom/tom.asp Company Overview] {{webarchive |url=https://web.archive.org/web/20070814094616/http://www.tomgroup.com/eng/tom/tom.asp |date=14 August 2007 }}''</ref> {{proper name|iMarkets}} Ltd, {{proper name|iBusiness}} Corporation Limited, CK Communications Ltd, Excel Technology International Holdings Ltd, {{proper name|mReferral}} Corporation (HK) Ltd and Beijing Net-Infinity Technology Development Co., Ltd.{{Citation needed|date=March 2023}}

Hutchison Whampoa's 34% stake in the Canadian energy company Husky Energy passed to CK Hutchison on completion of the merger.<ref>{{cite news|url=https://www.economist.com/sites/default/files/images/print-edition/20150117_WBC969.png|format=png|title=The Li shuffle|newspaper=The Economist |access-date=2023-08-20}}</ref>

==See also== *List of Chinese companies *3G

==References== {{reflist|colwidth=30em}}

==External links== *{{official website|https://web.archive.org/web/20040228125230/http://www.ckh.com.hk:80/eng/}}

{{CK Hutchison Holdings}} {{Authority control}}

Category:Predecessors of CK Hutchison Holdings Category:Land developers of Hong Kong Category:Conglomerate companies of Hong Kong Category:Multinational companies headquartered in Hong Kong Category:1950 establishments in Hong Kong Category:2015 mergers and acquisitions