Li Ka-shing’s CK Life expects annual loss on higher R&D outlay, lower vineyard value

The company said the loss for 2024 could come in at HK$126.6 million (US$16.3 million) versus a profit of HK$17.3 million the previous year

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An undated view of the Edinger Estate vineyard in Western Australia. Photo: Handout

Published: 11:07am, 7 Mar 2025Updated: 4:36pm, 7 Mar 2025

CK Life Sciences International, the biotech unit controlled by the Li Ka-shing family, is expected to post a loss for last year due to an increase in R&D spending and a decline in the value of its vineyard assets.

The company may report an annual loss of HK$126.6 million (US$16.3 million), compared with a profit of HK$17.3 million in 2023, CK Life said in a statement to the Hong Kong stock exchange on Thursday night. The company will announce its results on March 18.

“The change from profit to loss is attributable to the company’s conscious decision to increase research and development investments and a decline in the fair value of the vineyard portfolio,” CK Life said. “Overall, the operations of the group remained stable.”

Shares of CK Life dropped by as much as 7.4 per cent before closing 1.9 per cent higher at HK$0.55 on Friday. They have gained 35 per cent this year, outperforming the 21 per cent advance in the Hang Seng Index.

CK Life’s profit warning contrasts sharply with the hefty investment income parent company CK Hutchison, the conglomerate controlled by the Li family, is bringing in from a sale of ports it announced on Wednesday. The deal will bring in US$19 billion from the sale of 43 port assets globally, including two Panama ports that have been the target of US President Donald Trump’s ire.

CK Hutchison’s stock jumped by a record 22 per cent on Wednesday after the deal’s announcement.