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HK & CHINA GAS Expects HK 2025 Gas Sales Vol. to Drop by Max. 1%, Closely Monitors Operating Cost Changes
Recommend 16 Positive 23 Negative 16 |
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HK & CHINA GAS (00003.HK) increased its prices by 4.8% in August 2024. Executive Director and Managing Director Peter Wong said that there are currently no plans for price adjustments, but the Company will closely monitor changes in operating costs. An annual fee review is conducted, and he admitted that if costs hike significantly, 'even if there is no hike this year, the rate of increase will be recovered next year.' In 5M25, residential gas sales in Hong Kong rose significantly, increasing by about 160 terajoules, which is believed to be due to lower temperatures at the beginning of the year compared to the same period last year, leading to increased usage by residents, Wong added. However, outbound travel and consumption in mainland China by Hong Kong residents led to a decline in commercial gas usage in sectors such as catering. He predicted that the trend of consumption in mainland China will continue in the short term. Coupled with rising temperature in the long term, the annual gas sales volume may decrease by up to 1%. TG SMART ENERGY (01083.HK) has listed its first REIT-like product on the Shenzhen Stock Exchange (SZSE), involving distributed photovoltaic assets. AASTOCKS Financial News Website: www.aastocks.com |
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