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HK & CHINA GAS Falls 3% Post-Results; HK Gas Tariffs Likely to Face Upward Pressure This Yr
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HK & CHINA GAS (00003.HK) opened 3% lower today (23rd) and once bottomed at HKD7.01. It last traded at HKD7.11, down 3.13%, with a volume of 13.2562 million shares, involving HKD94.0833 million. The company reported a 4.2% YoY increase in last year's core profit. Managing Director Peter Wong stated that gas tariffs in Hong Kong are likely to face upward pressure this year due to a cumulative local inflation increase of 5-6% over the past two years, rising prices, wage adjustments, and preliminary work related to the Northern Metropolis development. That being said, Wong stressed that it is still difficult to comment on the specific increase, and the government is aware of the company's pricing pressure. AAStocks Financial News |
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