The Zhitong Finance App learned that on May 18,$CKH HOLDINGS (00001.HK)$Chairman Li Chak-ju mentioned the Group's business situation after the resumption of customs clearance at the annual shareholders' meeting. On the port side, Hong Kong will continue to face serious challenges from the global economic recession, competition in neighboring ports, and interest rate hikes. International trade is expected to gradually improve in the second half of 2023, and Hong Kong's cargo volume is also expected to pick up. Management is currently focusing on improving operational efficiency and cost management to enhance the competitiveness of container terminals.
Li Zeju said that Hong Kong's economic activity is gradually improving, and the number of visitors continues to rise, which is a good thing for the local retail industry. Watson also plans to open more than 300 new stores in the mainland this year. Hutchison Telecom Hong Kong (00215) recorded during the long Easter holiday that the average usage and income of Hong Kong people roaming had exceeded the same period before the 2019 pandemic, with an increase of more than 10% on individual days.
Li Zeju said that the group's dividends have gradually increased over the past two years, and it is impossible to predict whether dividends will continue to be paid. It depends on many factors, including the company's performance, economic environment, external factors, etc., but shareholders can see the track record.
Li Zeju predicted that it is likely that some of the proceeds from the sale of the British launch tower will continue to be used to buy back shares this year, but it also depends on market conditions, and the actual time and quantity cannot be disclosed.
Regarding the merger between Changhe's subsidiary Three UK and Vodafone (Vodafone), Li Zeju said that negotiations are still ongoing. What is important is that the information obtained by the group from the British telecommunications regulator OFCOM is positive.
Li Zeju believes that Changhe's sale of part of Telecom Italia's network infrastructure is in line with Group Telecom's “asset-light” strategy. At the same time, it will release the value of the Italian telecommunications business WINDTRE, improve the allocation of WINDTRE capital, and allow the group to recover network investment costs.