Cheung Kong Group
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|
| Private | |
| Industry | Conglomerate |
| Successor | CK Hutchison Holdings Limited |
| Founded | 1950s |
| Headquarters | Cheung Kong Center, Hong Kong Island, Hong Kong |
|
Key people
|
Li Ka Shing, Chairman Victor Li Tzar-kuoi, Managing Director and Vice Chairman |
| Products | Real estate, Investment, life sciences, IT, Hotels, telecommunications; & internet |
| Revenue | HK$32.863 billion (US$4.2 billion) (2010) |
| HK$26.478 billion (US$3.4 billion) (2010) | |
|
Number of employees
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9,500 (2010) |
| Website | www |
|
Footnotes / references Associates: Hutchison Whampoa Cheung Kong Infrastructure Holdings Limited Hutchison Asia Telecommunications and TOM Group |
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| Cheung Kong Holdings | |||||||
| Traditional Chinese | 長江實業 (集團) 有限公司 | ||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 长江实业 (集团) 有限公司 | ||||||
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| Transcriptions | |
|---|---|
| Standard Mandarin | |
| Hanyu Pinyin | Chángjiāng Shíyè (Jítuán) Yǒuxiàn Gōngsī |
Cheung Kong (Holdings) Limited, was a multinational conglomerate, based in Hong Kong. It was one of Hong Kong's leading multi-national conglomerates. The company merged with its subsidiary Hutchison Whampoa on 3 June 2015, as part of a major reorganisation, to become part of CK Hutchison Holdings.
The Chairman of Cheung Kong Holdings is Li Ka Shing (李嘉誠), while his elder son, Victor Li, is Managing Director and Deputy Chairman. Li Ka Shing founded Cheung Kong Industries in 1950s as a plastics manufacturer. Under his leadership, the company grew rapidly and eventually evolved into a property investment company. "Cheung Kong (Holdings) Limited" was established in 1971.
The Cheung Kong Group was one of the largest developers of residential, office, retail, industrial and hotel properties in Hong Kong. With its long history of property development expertise and residential estates, Cheung Kong Holdings has built many of Hong Kong's most notable landmark buildings and complexes. As part of the reorganisation of the group, a new company composed of the group's property assets was spun-off in June 2015 as Cheung Kong Property Holdings.
The market capitalisation of the Cheung Kong Group's Hong Kong listed companies amounted to HK$1,148 billion as at 31 January 2015. The Group operates in over 50 countries and employs over 240,000 staff worldwide.
The Group had nine companies.
The company was first listed on the Hong Kong Stock Exchange in 1972 as Cheung Kong Holdings, and developed into a property development and strategic investment company, with substantial interests in life sciences and other businesses.
Cheung Kong Group became one of the largest developers in Hong Kong with a long history of property development. About one in twelve of the private residences in Hong Kong were developed by the company.
The company and Sun Hung Kai Properties together became increasingly dominant in the development of new private homes, accounting for 70% of the market in 2010, up from around half of that in 2003. This concentration, with much of the rest of the market occupied by other very large firms, is attributed to the government's policy of auctioning land in expensively large blocks, squeezing out small and mid-sized firms, according to the Consumer Council.
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Wikipedia