CK Hutchison, under the fire from Beijing for ‘Without Spin’s’ panam channels, reports are declining 2024.
Built -in Hong Kong conglomerate CK Hutchison Holdings, caught UA USA-kina spit over control The Panaman Channel, said Thursday that the profit fell 27% in 2024.
CK Hutchison this month crowded His global job of the port outside China – including surgery in the channel – a group led by a giant weed manager of Blackkrock assets for $ 19 billion in cash.
The parties are expecting to sign a “final agreement” by April on April 2 with Panama Ports Company, which has been governing two of the five ports on the channel since 1997 since 1997 by a government concession.
The deal followed Weekly pressure From US President Donald Trump, who refused to exclude a military invasion of Panama to “bring back” a vital waterway from alleged Chinese control.
The announcement of the results on Thursday did not mention the Blackkock contract.
“On the whole, the basic operational results of the group were relatively stable” last year, despite a one-off edition related to her Vietnamese telecommunications job, chairman Victor Li, son of the Bilian Li Billy Party founder, said in applying to the HONG KONG Stock Exchange.
But CK Hutchison said his “Luke and Related Services Division” recorded a 11% revenue jump to $ 5.8 billion.
Earnings before interest, tax, depreciation and depreciation increased by 19% a year to $ 2.1 billion, the company said.
“There may be winds with a supply chain disorders that are expected in the early part of the year due to the shipping lines that passed into their new alliances, as well as the continuous geopolitical risk that affects the global trade,” he said as part of the ports of the Department of 2025.
Control in Beijing
Sections at CK Hutchison jumped more than 20% in Hong Kong after the port contract was first published on March 4th.
But Beijing became known last week known through two government offices monitored by Hongbong’s jobs, which Published newspaper articles criticizing the agreement as “without spin” and “betraying and selling all the Chinese.”
Hong Kong leader John Lee also said on Tuesday that concerns about sales “deserves serious attention”, adding that the city “will handle it in accordance with the law and regulations”.
CK Hutchison canceled his press conference on Thursday after earning and did not respond to multiple AFP inquiries.
Bloomberg News informed the unnamed sources that higher Chinese leaders ordered government agencies, including the State Market Regulation Administration to carefully review the agreement.
The conglomerate is registered on the Kajman islands, and the property selling are outside China.
After years of diversification, operations in continental China and Hong Kong made up only 12% of CK Hutchison revenue last year, according to Thursday results.
The conglomerate has previously claimed that it has a “worldwide port net”, which covers 53 ports in 24 countries.
But in terms of revenue, the Division of Luka CK Hutchison fades compared to its world business interests in finances, retail, infrastructure and telecommunications.
In Hong Kong, CK Hutchison is known for his founder, Li Ka-Shing, the richest city men and the nickname “Superman” in his businesswoman.
The 96-year-old enjoyed close relationships with three generations of the best Chinese leaders, but Bonhomie faded after Xi Jinping took power.
Over the past decade, the Chinese state media has criticized whether because of its apparent decision to separate from some Chinese markets and allegedly shows compassion for the 2019 pro-democracy protesters in 2019.
This story is originally shown on Fortune.com
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