Guangshen’s First Half In Line; It Takes a Further Step Amid Railway Land Monetization
Guangshen’s first-half result, with net profit rising 29% to CNY 654 million, contained little in the way of surprises and implies an 8% fall in second-quarter earnings from a year ago, as the majority of overhaul costs were booked in during the quarter. Core operations were decent, and passenger volume on the Guangzhou-Shenzhen intercity express and Guangzhou-Kowloon train rose 9.7% and 11.2%, respectively, driving revenue up by 13.4% from a year ago. With 74% of the planned overhaul completed,...
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