In recent years, hk & china gas has stopped distributing bonus shares. Huang Weiyi said that due to changes in the overall environment, they need to manage their finances prudently, reduce costs and increase efficiency, and it is difficult to distribute bonus shares in the short term.
According to the Futu Securities app, HK & China Gas (00003) announced in March that gas prices will be under pressure this year. Executive Director Huang Weiyi said that the last time there was a price increase was two years ago. The group has already communicated with the Hong Kong government on the matter, and the response has been positive. He emphasized that the price increase is reasonable and definitely will not be in double digits. The report on the price increase has been submitted, and when it will start is subject to announcement by the Hong Kong government.
Huang Weiyi pointed out that the Hong Kong business is quite sensitive to temperature changes. As the temperature in Hong Kong rose by 3 degrees in the first half of this year, gas sales decreased by 2.5% for every 1 degree increase in temperature. Gas sales in the first quarter of this year fell 2% mainly due to a decrease in residential use, while commercial use has increased due to the recovery of the aviation industry. It is expected that overall gas sales in Hong Kong will remain stable.
In recent years, hk & china gas has stopped distributing bonus shares. Huang Weiyi said that due to changes in the overall environment, they need to manage their finances prudently, reduce costs and increase efficiency, and it is difficult to distribute bonus shares in the short term. If profits cannot be seen to increase significantly, there is no reason to distribute more shares by an additional 10%.