On August 15th, UBS released a report stating that CKI Holdings' interim performance met expectations, with a net profit of HK$4.3 billion, a 2% increase compared to the same period last year, roughly in line with market expectations of low single-digit growth. The bank believes that the earnings growth of the UK and Australia investment portfolios will remain robust from 2025 to 2028. The interim dividend is HK$0.72, a 1.4% annual increase. The bank rates it as a 'buy' with a target price of HK$73. UBS points out that it sees two major directions in the management's merger and acquisition pipeline and potential dual listing. The management has a positive attitude towards potential M&A activities and has a strong project pipeline. The company has a solid track record in acquisitions and mergers, and the bank believes that this will bring further opportunities for profit growth. For the acquisition of onshore wind farms in the UK by a consortium led by CKI, the bank estimates that it will bring about a 1-2% increase in profits. In addition, the progress of CKI's dual listing is smooth and is expected to bring more M&A opportunities.