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HK Electric Investments Flags Higher Fuel Charges as International Prices Surge HK Electric Investments warned that soaring international fuel prices linked to the Middle East war are putting “significant upward pressure” on its fuel clause charge in the second half of the year, while distributable income for the six months to June was HK$1.4b and described as flat.
The company said its priority is to maintain supply reliability by securing enough fuel and complying with emission limits, while also trying to limit the tariff impact on customers. This highlights a balance between cost pressures, regulatory expectations and service reliability.
HK Electric Investments units last traded at HK$6.45, with the stock up 3.2% over the past 30 days.
Rising fuel costs introduce a clear cost risk for HK Electric Investments, and the key question is how much of this will flow through to future fuel charges and tariffs versus being absorbed in margins. Announcement • Jul 30
HK Electric Investments and HK Electric Investments Limited to Report First Half, 2026 Results on Aug 11, 2026 HK Electric Investments and HK Electric Investments Limited announced that they will report first half, 2026 results on Aug 11, 2026 Reported Earnings • Apr 23
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: HK$0.36 (up from HK$0.35 in FY 2024). Revenue: HK$12.1b (flat on FY 2024). Net income: HK$3.15b (up 1.2% from FY 2024). Profit margin: 26% (in line with FY 2024). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 3.5%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 02
Upcoming dividend of HK$0.16 per share Eligible shareholders must have bought the stock before 08 April 2026. Payment date: 22 April 2026. Trailing yield: 4.9%. Lower than top quartile of Hong Kong dividend payers (6.9%). Higher than average of industry peers (4.4%). Declared Dividend • Mar 19
Final dividend of HK$0.16 announced Dividend of HK$0.16 is the same as last year. Ex-date: 8th April 2026 Payment date: 22nd April 2026 Dividend yield will be 4.8%, which is lower than the industry average of 5.5%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (123% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 8.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 18
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: HK$0.36 (up from HK$0.35 in FY 2024). Revenue: HK$12.1b (flat on FY 2024). Net income: HK$3.15b (up 1.2% from FY 2024). Profit margin: 26% (in line with FY 2024). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 3.5%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 17
HK Electric Investments and HK Electric Investments Limited, Annual General Meeting, May 20, 2026 HK Electric Investments and HK Electric Investments Limited, Annual General Meeting, May 20, 2026. Announcement • Mar 05
HK Electric Investments and HK Electric Investments Limited to Report Fiscal Year 2025 Results on Mar 17, 2026 HK Electric Investments and HK Electric Investments Limited announced that they will report fiscal year 2025 results on Mar 17, 2026 Price Target Changed • Sep 23
Price target increased by 8.3% to HK$7.10 Up from HK$6.56, the current price target is an average from 5 analysts. New target price is 18% above last closing price of HK$6.01. Stock is up 11% over the past year. The company is forecast to post earnings per share of HK$0.37 for next year compared to HK$0.35 last year. Declared Dividend • Aug 15
First half dividend of HK$0.16 announced Dividend of HK$0.16 is the same as last year. Ex-date: 26th August 2025 Payment date: 8th September 2025 Dividend yield will be 5.2%, which is lower than the industry average of 5.5%. Sustainability & Growth Dividend is covered by earnings (89% earnings payout ratio) but not covered by cash flows (119% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share is expected to grow by 9.8% over the next 3 years, which should maintain adequate earnings cover for the dividend. Reported Earnings • Aug 14
First half 2025 earnings released: EPS: HK$0.11 (vs HK$0.11 in 1H 2024) First half 2025 results: EPS: HK$0.11 (up from HK$0.11 in 1H 2024). Revenue: HK$5.57b (flat on 1H 2024). Net income: HK$1.00b (up 5.7% from 1H 2024). Profit margin: 18% (in line with 1H 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. Announcement • Jul 30
HK Electric Investments and HK Electric Investments Limited to Report First Half, 2025 Results on Aug 12, 2025 HK Electric Investments and HK Electric Investments Limited announced that they will report first half, 2025 results on Aug 12, 2025 Announcement • Jun 20
HK Electric Investments and HK Electric Investments Limited Announces Board and Committee Changes, Effective July 1, 2025 HK Electric Investments Limited announced that Mr. KWAN Ying Leung will resign as an Executive Director of the Boards and will concurrently cease to be a member of the Sustainability Committee of the Company, effective July 1, 2025. Mr. Kwan will also resign as a Director of The Hongkong Electric Company, Limited, a wholly-owned subsidiary of the Company, and will thereafter act as an adviser to HK Electric. Mr. CHOI Wai Man will be appointed as an Executive Director of the Boards and a member of the Sustainability Committee of the Company, effective July 1, 2025. Mr. Choi, aged 65, currently the General Manager (Customer Services) of HK Electric, will also be appointed as a Director of HK Electric and promoted to the position of Operations Director. He has been with the Group since October 1981, with over 43 years of experience in electricity supply and customer services. Mr. Choi holds a Bachelor of Science degree in Engineering and a Master's degree in Business Administration. He is a Chartered Engineer, a Fellow of The Hong Kong Institution of Engineers, and a member of The Institution of Engineering and Technology in the United Kingdom. Buy Or Sell Opportunity • May 16
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.7% to HK$5.53. The fair value is estimated to be HK$4.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has grown by 2.7%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 3.1% per annum over the same time period. Reported Earnings • Apr 18
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: HK$0.35 (down from HK$0.36 in FY 2023). Revenue: HK$12.1b (up 5.7% from FY 2023). Net income: HK$3.11b (down 1.4% from FY 2023). Profit margin: 26% (down from 28% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 03
Upcoming dividend of HK$0.16 per share Eligible shareholders must have bought the stock before 09 April 2025. Payment date: 23 April 2025. Trailing yield: 5.9%. Lower than top quartile of Hong Kong dividend payers (7.5%). In line with average of industry peers (5.4%). Declared Dividend • Mar 20
Final dividend of HK$0.16 announced Dividend of HK$0.16 is the same as last year. Ex-date: 9th April 2025 Payment date: 23rd April 2025 Dividend yield will be 6.0%, which is higher than the industry average of 5.5%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (68% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 1.1% to bring the payout ratio under control. EPS is expected to grow by 11% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Mar 19
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: HK$0.35 (down from HK$0.36 in FY 2023). Revenue: HK$12.1b (up 5.7% from FY 2023). Net income: HK$3.11b (down 1.4% from FY 2023). Profit margin: 26% (down from 28% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Mar 05
HK Electric Investments and HK Electric Investments Limited to Report Fiscal Year 2024 Results on Mar 18, 2025 HK Electric Investments and HK Electric Investments Limited announced that they will report fiscal year 2024 results on Mar 18, 2025 Reported Earnings • Aug 15
First half 2024 earnings released: EPS: HK$0.11 (vs HK$0.11 in 1H 2023) First half 2024 results: EPS: HK$0.11 (down from HK$0.11 in 1H 2023). Revenue: HK$5.57b (up 6.6% from 1H 2023). Net income: HK$947.0m (down 3.6% from 1H 2023). Profit margin: 17% (down from 19% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 15
Final dividend of HK$0.16 announced Shareholders will receive a dividend of HK$0.16. Ex-date: 27th August 2024 Payment date: 6th September 2024 Dividend yield will be 5.9%, which is higher than the industry average of 5.5%. Sustainability & Growth Dividend is covered by both earnings (89.7% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share is expected to grow by 9.2% over the next 3 years, which should maintain adequate earnings cover for the dividend. Buy Or Sell Opportunity • Aug 09
Now 20% undervalued Over the last 90 days, the stock has risen 13% to HK$5.42. The fair value is estimated to be HK$6.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.2%. For the next 3 years, revenue is forecast to grow by 2.4% per annum. Earnings are also forecast to grow by 2.0% per annum over the same time period. Reported Earnings • Apr 20
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: HK$0.36 (up from HK$0.33 in FY 2022). Revenue: HK$11.4b (up 5.7% from FY 2022). Net income: HK$3.16b (up 6.8% from FY 2022). Profit margin: 28% (in line with FY 2022). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 10%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Mar 21
HK Electric Investments and HK Electric Investments Limited Announces Final Dividend for the Year Ended 31 December 2023, Payable on 17 April 2024 HK Electric Investments and HK Electric Investments Limited announced final dividend of HKD 0.1609 per share for the year ended 31 December 2023. Ex-dividend date is 05 April 2024, Record date is 08 April 2024 and Payment date is 17 April 2024. Announcement • Mar 20
HK Electric Investments and HK Electric Investments Limited, Annual General Meeting, May 22, 2024 HK Electric Investments and HK Electric Investments Limited, Annual General Meeting, May 22, 2024. Reported Earnings • Mar 20
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: HK$0.36 (up from HK$0.33 in FY 2022). Revenue: HK$11.4b (up 5.7% from FY 2022). Net income: HK$3.16b (up 6.8% from FY 2022). Profit margin: 28% (in line with FY 2022). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 10%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Mar 06
HK Electric Investments and HK Electric Investments Limited to Report Fiscal Year 2023 Results on Mar 19, 2024 HK Electric Investments and HK Electric Investments Limited announced that they will report fiscal year 2023 results on Mar 19, 2024 Reported Earnings • Aug 17
First half 2023 earnings released: EPS: HK$0.11 (vs HK$0.10 in 1H 2022) First half 2023 results: EPS: HK$0.11 (up from HK$0.10 in 1H 2022). Revenue: HK$5.23b (up 6.9% from 1H 2022). Net income: HK$982.0m (up 9.8% from 1H 2022). Profit margin: 19% (in line with 1H 2022). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 08
Upcoming dividend of HK$0.16 per share at 6.7% yield Eligible shareholders must have bought the stock before 15 August 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 6.7%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (5.9%). Announcement • Aug 02
Hk Electric Investments and Hk Electric Investments Limited Announces Dividend for the Six Months Ended 30 June 2023 ,Payable on 25 August 2023 HK Electric Investments and HK Electric Investments Limited announces dividend of HKD 0.1594 per share for the six months ended 30 June 2023. Ex-dividend date is 15 August 2023, Record date is 16 August 2023 and Payment date is 25 August 2023. Price Target Changed • Aug 02
Price target decreased by 11% to HK$5.79 Down from HK$6.48, the current price target is an average from 4 analysts. New target price is 19% above last closing price of HK$4.88. Stock is down 31% over the past year. The company is forecast to post earnings per share of HK$0.34 for next year compared to HK$0.33 last year. Upcoming Dividend • Mar 21
Upcoming dividend of HK$0.16 per share at 6.4% yield Eligible shareholders must have bought the stock before 28 March 2023. Payment date: 12 April 2023. Trailing yield: 6.4%. Lower than top quartile of Hong Kong dividend payers (8.2%). In line with average of industry peers (6.0%). Reported Earnings • Mar 15
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: HK$0.33 (up from HK$0.33 in FY 2021). Revenue: HK$10.8b (down 4.9% from FY 2021). Net income: HK$2.95b (flat on FY 2021). Profit margin: 27% (up from 26% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) exceeded analyst estimates by 1.9%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Electric Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 09
Upcoming dividend of HK$0.16 per share Eligible shareholders must have bought the stock before 16 August 2022. Payment date: 26 August 2022. Payout ratio is on the higher end at 96%, and the cash payout ratio is above 100%. Trailing yield: 4.5%. Lower than top quartile of Hong Kong dividend payers (8.4%). Lower than average of industry peers (5.0%). Reported Earnings • Aug 03
First half 2022 earnings released: EPS: HK$0.10 (vs HK$0.10 in 1H 2021) First half 2022 results: EPS: HK$0.10 (up from HK$0.10 in 1H 2021). Revenue: HK$4.89b (down 6.8% from 1H 2021). Net income: HK$894.0m (up 1.6% from 1H 2021). Profit margin: 18% (up from 17% in 1H 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 6.3%, compared to a 3.5% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buying Opportunity • Jun 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.1%. The fair value is estimated to be HK$9.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings is also forecast to grow by 2.6% per annum over the same time period. Upcoming Dividend • Mar 22
Upcoming dividend of HK$0.16 per share Eligible shareholders must have bought the stock before 29 March 2022. Payment date: 11 April 2022. Payout ratio is on the higher end at 96% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Hong Kong dividend payers (7.9%). Lower than average of industry peers (4.6%). Reported Earnings • Mar 16
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: HK$0.33 (up from HK$0.31 in FY 2020). Revenue: HK$11.3b (up 9.2% from FY 2020). Net income: HK$2.93b (up 7.4% from FY 2020). Profit margin: 26% (in line with FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 2.4%, compared to a 3.2% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has remained flat. Upcoming Dividend • Aug 10
Upcoming dividend of HK$0.16 per share Eligible shareholders must have bought the stock before 17 August 2021. Payment date: 27 August 2021. Trailing yield: 4.0%. Lower than top quartile of Hong Kong dividend payers (6.5%). Lower than average of industry peers (4.7%). Reported Earnings • Aug 04
First half 2021 earnings released: EPS HK$0.10 (vs HK$0.092 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: HK$5.25b (up 9.4% from 1H 2020). Net income: HK$880.0m (up 8.5% from 1H 2020). Profit margin: 17% (in line with 1H 2020). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Apr 03
Full year 2020 earnings released: EPS HK$0.31 (vs HK$0.26 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: HK$10.4b (down 3.3% from FY 2019). Net income: HK$2.73b (up 17% from FY 2019). Profit margin: 26% (up from 22% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of HK$0.16 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 13 April 2021. Trailing yield: 4.1%. Lower than top quartile of Hong Kong dividend payers (6.1%). Lower than average of industry peers (4.8%). Reported Earnings • Mar 18
Full year 2020 earnings released: EPS HK$0.31 (vs HK$0.26 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: HK$10.4b (down 3.3% from FY 2019). Net income: HK$2.73b (up 17% from FY 2019). Profit margin: 26% (up from 22% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 16
New 90-day high: HK$7.77 The company is up 1.0% from a price of HK$7.73 on 16 December 2020. Underperformed the Hong Kong market, which is up 12% over the last 90 days. Lagged the Electric Utilities industry, which is up 8.0% over the same period. Simply Wall St's valuation model estimates the intrinsic value at HK$8.70 per share. Is New 90 Day High Low • Feb 08
New 90-day low: HK$7.61 The company is down 4.0% from its price of HK$7.94 on 10 November 2020. The Hong Kong market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$4.50 per share. Is New 90 Day High Low • Jan 19
New 90-day low: HK$7.62 The company is down 3.0% from its price of HK$7.88 on 21 October 2020. The Hong Kong market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$4.51 per share. Is New 90 Day High Low • Dec 31
New 90-day low: HK$7.63 The company is down 5.0% from its price of HK$8.00 on 30 September 2020. The Hong Kong market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$4.43 per share. 
