Changjiang Infrastructure Reports 2% Profit Increase for Last Year

Changjiang Infrastructure Holdings Limited reported a profit of 8.265 billion yuan for the previous year, marking a nearly 2% increase compared to the previous year. According to RTHK, the company announced a final dividend of 1.88 yuan per share, representing a growth of approximately 1%. Including the interim dividend of 0.73 yuan, the total annual dividend reached 2.61 yuan, continuing the group's 29-year streak of annual dividend growth since its listing. The group's revenue for the year was 41.68 billion yuan, an increase of nearly 7% year-on-year. Profits from the United Kingdom and Australia remained stable at 3.98 billion yuan and 1.78 billion yuan, respectively. However, profits from Hong Kong and mainland China fell by over 48% to 68 million yuan, attributed to weak sales in the mainland cement business and price pressures in Hong Kong's concrete sector. Earnings from Power Assets Holdings Limited rose by approximately 2% to 2.25 billion yuan, while European profits increased by about 58% to 960 million yuan. At the end of last year, the group held cash reserves of 7.4 billion yuan, with a net debt-to-total capital ratio of 8.9%. Chairman Victor Li expressed that the group's world-class infrastructure asset portfolio holds significant value, which, combined with strategic business development, provides growth momentum. He acknowledged the challenging macroeconomic environment but emphasized the potential for growth and expansion. Current market conditions, including tight liquidity and rising capital costs, are seen as favorable for the group's development. Benefiting from strategic partnerships among Changjiang Group members, Changjiang Infrastructure, Cheung Kong Holdings, and Power Assets Holdings can jointly invest in acquisitions that align with their shared investment philosophy.