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HANS GP HLDGS: Subsidiary Citybus Directly Exposed to Rising Fuel Costs; Financial Performance Expected to be Affected
2026-07-17 17:53:23 HANS GP HLDGS (00554.HK) said the ongoing Middle East crisis has triggered a sharp surge and significant volatility in international fuel prices. Since late February 2026, diesel prices have more than doubled, rising from approximately US$90 per barrel to over US$200 per barrel. Citybus, a non-wholly owned subsidiary of the Company, has been directly exposed to the rising fuel costs. On 9 April, the HKSAR Government announced a series of short-term targeted measures to alleviate the impact of rising fuel prices. Although the HKSAR Government measures, together with Citybus’s own cost-control initiatives, have provided a degree of relief, Citybus has still had to bear a substantial portion of the impact of elevated fuel costs. With the recent cessation of key short-term relief measures, the Group anticipates there to be continued adverse impact on its financial performance in the coming periods in view of the elevated fuel prices. The elevated fuel costs will continue to exert significant pressure on the Group’s operating expenses in the transportation business and may affect the Group’s overall financial performance in the future. The Group has been closely monitoring market developments and fuel price trends. It will continue to carry out regular assessments of the situation and explore suitable operational and financial measures with the HKSAR Government, to mitigate the impact of elevated fuel costs. ~ AASTOCKS Financial News Website: www.aastocks.com | |