Brief: ANE (Cayman) Announces Intention To Repurchase Shares Of Co

ANE (Cayman)

18/02/2022 01:37

Feb 18 (Reuters) - ANE (Cayman) Inc  9956.HK :
    * INTENTION TO EXERCISE POWERS UNDER GENERAL MANDATE TO
REPURCHASE
SHARES OF CO
    * SHARE REPURCHASE PLAN IS PROPOSED TO USE UP TO HK$100
MILLION IN
FUNDS FOR REPURCHASE
    * INTENDS TO FINANCE SHARE REPURCHASE PLAN BY OWN FINANCIAL
RESOURCES OTHER THAN PROCEEDS FROM LISTING OF SHARES
    * TO REPURCHASE UP TO 10% OF TOTAL NUMBER OF SHARES IN ISSUE
    * EXPECTS TO RECORD INCREASE OF NOT LESS THAN 20% IN FREIGHT
VOLUME FOR YEAR
    * SEES INCREASE OF NOT LESS THAN 30% IN REVENUE FOR YEAR
    * SEES A DECREASE OF AROUND 50% IN FY OPERATING PROFIT AND A
DECREASE OF AROUND 30-40% IN ADJUSTED NET PROFIT
    * EXPECTED REASON DUE TO RAPID INFLATION IN FUEL PRICE,
MAJOR COST
COMPONENT FOR LINE-HAUL TRANSPORTATION, AMONG OTHERS
    * NOTED DECREASE IN TRADING PRICE BETWEEN FEB 14 & FEB 15,
CONFIRMS GROUP OPERATIONS REMAIN NORMAL
    * EXPECTED TO RECORD A NET LOSS OF NOT LESS THAN RMB2.0
BILLION
FOR YEAR

Further company coverage:  9956.HK 

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