A research report from UBS states that CKH HOLDINGS (00001) achieved an underlying net profit of HKD 22.3 billion for 2025, representing a 7% year-on-year increase and surpassing the bank's forecast by 4%. This outperformance was primarily driven by better-than-expected results across most of its business segments. The company declared a full-year dividend of HKD 2.31 per share, a 5% increase compared to the previous year, which also exceeded the bank's projection by 3%.

In light of the ongoing tensions in the Middle East, management highlighted that port operations in affected regions account for only 0.5% of total throughput. However, the company stands to benefit from rising oil prices through its stake in Cenovus Energy. UBS estimates that if crude oil prices remain at current levels, CKH HOLDINGS' earnings could have an upside potential of approximately 40%.

UBS has maintained its "Buy" rating on CKH HOLDINGS with a target price of HKD 67, citing the company's resilient business operations and its ability to withstand uncertainties.