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Power Assets Holdings Limited, an investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally. It generates energy from thermal, renewable energy, and waste sources. The company also develops green energy; distributes oil and gas; and provides trust administration and management services. Power Assets Holdings Limited was formerly known as Hongkong Electric Holdings Limited and changed its name to Power Assets Holdings Limited in February 2011. The company was founded in 1889 and is based in Central, Hong Kong.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Power Assets Holdings is a Hong Kong-based utility investor with equity interests in electricity and gas networks and related infrastructure in Hong Kong and overseas, emphasizing regulated and long-term contracted assets. Long-term growth may be supported by steady cash flows from regulated businesses, returns from renewable investments and network upgrades, and selective acquisitions, which could appeal to income-focused investors.
Investors should monitor regulatory changes affecting tariffs and returns, commodity and currency exposure, and execution risk in integrating overseas assets and shifting to low-carbon generation.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 6452.52M | 6352.00M | 6252.00M | 5838.00M | 6272.00M |
| Net income | 6234.57M | 6119.00M | 6003.00M | 5649.00M | 6140.00M |
| Gross profit | 6601.00M | 6350.00M | 1292.00M | 1265.00M | 1276.00M |
| Reconciled depreciation | 4.00M | 3.00M | 4.00M | 3.00M | 3.00M |
| Ebit | 473.89M | 6521.00M | 6395.00M | 5942.00M | 6397.00M |
| Ebitda | 477.89M | 6524.00M | 6399.00M | 5945.00M | 6400.00M |
| Depreciation and amortization | 4.00M | 3.00M | 4.00M | 3.00M | 3.00M |
| Operating income | 473.89M | 6314.00M | 1131.00M | 1164.00M | 1501.00M |
| Other operating expenses | 352.00M | 460.00M | 161.00M | 159.00M | 143.00M |
| Interest expense | 227.95M | 169.00M | 143.00M | 104.00M | 125.00M |
| Tax provision | 218.00M | 233.00M | 249.00M | 189.00M | 132.00M |
| Interest income | 105.00M | 123.00M | 218.00M | 68.00M | 12.00M |
| Net interest income | -123.00M | -46.00M | -143.00M | -36.00M | -113.00M |
| Income tax expense | 217.95M | 233.00M | 249.00M | 189.00M | 132.00M |
| Total revenue | 6913.00M | 6774.00M | 1292.00M | 1265.00M | 1276.00M |
| Total operating expenses | 40.00M | 36.00M | 161.00M | 159.00M | 143.00M |
| Cost of revenue | 312.00M | 424.00M | 421.00M | - | - |
| Total other income expense net | 5978.63M | 38.00M | 5121.00M | 4674.00M | 4771.00M |
| Net income from continuing ops | 6236.00M | 6119.00M | 6003.00M | 5649.00M | 6140.00M |
| Net income applicable to common shares | - | - | - | 5649.00M | 6140.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 98302.46M | 94077.00M | 95702.00M | 94527.00M | 94304.00M |
| Other current assets | 0.00M | 725.00M | 29.00M | 852.00M | 223.00M |
| Total liab | 7598.26M | 7001.00M | 6950.00M | 7670.00M | 7537.00M |
| Total stockholder equity | 90704.20M | 87076.00M | 88752.00M | 86857.00M | 86767.00M |
| Other current liab | 186.16M | 0.00M | 119.00M | 121.00M | 168.00M |
| Common stock | 6608.48M | 6610.00M | 6610.00M | 6610.00M | 6610.00M |
| Capital stock | 6610.00M | 6610.00M | 6610.00M | 6610.00M | 6610.00M |
| Retained earnings | 4347.00M | 85987.00M | 4348.00M | - | 87143.00M |
| Other liab | - | - | - | 395.00M | 547.00M |
| Other assets | - | - | - | 1893.00M | 1086.00M |
| Cash | 2530.42M | 2733.00M | 2456.00M | 5894.00M | 4610.00M |
| Total current liabilities | 5047.84M | 4077.00M | 3249.00M | 4038.00M | 3554.00M |
| Current deferred revenue | - | - | 231.00M | - | - |
| Net debt | 788.82M | -224.00M | 645.00M | -2655.00M | -1172.00M |
| Short term debt | 1400.68M | 3.00M | 3.00M | 2.00M | 2.00M |
| Short long term debt | 1399.00M | 0.00M | - | - | 0.00M |
| Short long term debt total | 3319.24M | 2509.00M | 3101.00M | 3239.00M | 3438.00M |
| Other stockholder equity | 0.00M | 80466.00M | 77794.00M | 80247.00M | 80157.00M |
| Property plant equipment | - | - | - | 18.00M | 20.00M |
| Total current assets | 3018.31M | 3488.00M | 4359.00M | 6880.00M | 4963.00M |
| Net tangible assets | - | - | - | 86857.00M | 86767.00M |
| Short term investments | 389.91M | 3.00M | 1745.00M | - | - |
| Net receivables | 487.89M | 30.00M | 129.00M | 132.00M | 128.00M |
| Long term debt | 1920.00M | 2505.00M | 3097.00M | 3236.00M | 3433.00M |
| Inventory | - | - | -153.00M | - | - |
| Accounts payable | 3461.00M | 3967.00M | 2896.00M | 3915.00M | 3384.00M |
| Accumulated other comprehensive income | 79748.72M | -5521.00M | 77794.00M | - | - |
| Non currrent assets other | 8.00M | 2057.00M | 6.00M | 87629.00M | 89276.00M |
| Non current assets total | 95284.15M | 90589.00M | 91343.00M | 87647.00M | 89341.00M |
| Capital lease obligations | 1.00M | 4.00M | 4.00M | 3.00M | 5.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -497.00M | 5686.00M | 4612.00M | 4008.00M | 1226.00M |
| Change to liabilities | - | - | - | 0.00M | -220.00M |
| Total cashflows from investing activities | 3875.00M | 5686.00M | 4200.00M | - | 5931.00M |
| Net borrowings | 654.00M | -335.00M | -179.00M | - | 3.00M |
| Total cash from financing activities | -5359.00M | -6348.00M | -6190.00M | -6142.00M | -6016.00M |
| Change to operating activities | - | - | - | - | 44.00M |
| Net income | 6454.00M | 6352.00M | 6003.00M | 5838.00M | 6272.00M |
| Change in cash | -592.00M | 277.00M | -427.00M | -1358.00M | 853.00M |
| Begin period cash flow | 2733.00M | 2456.00M | 2883.00M | 4241.00M | 3388.00M |
| End period cash flow | 2141.00M | 2733.00M | 2456.00M | 2883.00M | 4241.00M |
| Total cash from operating activities | 884.00M | 941.00M | 1550.00M | 772.00M | 939.00M |
| Depreciation | 4.00M | 3.00M | 4.00M | 3.00M | 3.00M |
| Other cashflows from investing activities | 3933.00M | 6468.00M | 5478.00M | - | 4705.00M |
| Dividends paid | 6010.00M | 6010.00M | 6009.00M | -6019.00M | -6019.00M |
| Change to account receivables | -117.00M | 80.00M | 1.00M | - | -53.00M |
| Sale purchase of stock | - | - | 0.00M | -121.00M | - |
| Other cashflows from financing activities | -3.00M | -3.00M | -2.00M | -2.00M | 3682.00M |
| Change to netincome | - | - | - | - | -4975.00M |
| Capital expenditures | 1.00M | 0.00M | 2.00M | 1.00M | 0.00M |
| Change in working capital | 734.00M | 821.00M | 31.00M | -503.00M | -229.00M |
| Other non cash items | -6308.00M | -6235.00M | -4488.00M | -4566.00M | -5107.00M |
| Free cash flow | 883.00M | 941.00M | 1136.00M | 771.00M | 939.00M |
Sector: Utilities Industry: Utilities - Independent Power Producers
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| HGKGF Power Assets Holdings Limited |
- -% |
7.60 | 6.78 | 22.52 | 21.55 | 1.22 | 12.46 | 4.83 |
| CEG Constellation Energy Corp |
10.30 4.30% |
249.95 | 37.58 | 25.19 | 3.94 | 7.18 | 4.29 | 18.38 |
| VST Vistra Corp. |
11.91 10.55% |
124.80 | 23.87 | 13.55 | 2.47 | 15.71 | 3.60 | 10.56 |
| CGNWF CGN Power Co. Ltd |
- -% |
0.35 | 11.83 | 11.49 | 0.24 | 1.06 | 4.23 | 14.44 |
| HGKGY Power Assets Holdings Ltd |
0.19 2.35% |
8.27 | 7.42 | 23.75 | 22.95 | 1.29 | 12.46 | 4.83 |
Power Assets Holdings Limited, an investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally. It generates energy from thermal, renewable energy, and waste sources. The company also develops green energy; distributes oil and gas; and provides trust administration and management services. Power Assets Holdings Limited was formerly known as Hongkong Electric Holdings Limited and changed its name to Power Assets Holdings Limited in February 2011. The company was founded in 1889 and is based in Central, Hong Kong.
| Name | Title | Year Born |
|---|---|---|
| Mr. Kin Ning Fok B.A., BA, DFM, F.C.A., FCA (ANZ) | Chairman | 1951 |
| Mr. Chao Chung Tsai BAppScMechEng, BSME, CPEng | CEO & Exec. Director | 1957 |
| Mr. Andrew John Hunter M.A., M.B.A., MA, MBA, MDBA, MHKICPA, MICAS | Exec. Director | 1958 |
| Mr. Chi Tin Wan | Exec. Director | 1950 |
| Mr. Neil Douglas McGee | Exec. Director | 1951 |
| Mr. Loi Shun Chan FCCA, FCPA | Exec. Director | 1963 |
| Mr. Kee Ham Chan | Chief Financial Officer | 1963 |
| Mr. Wai Cheong Ng LLB | Group Legal Counsel & Company Sec. | 1969 |
| Mr. Andrew John Hunter M.A., M.B.A., MDBA, MHKICPA, MICAS | Executive Chairman | 1958 |
| Mr. Chao Chung Tsai BAppScMechEng, BSME, CPEng | CEO & Executive Director | 1957 |
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