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,...Guangshen Railway Company Limited is engaged in the provision of passenger and freight transportation on railroads. The Company also operates certain other businesses, which include services offered in railway stations, and sales of food, beverages and merchandises on board the trains and in the railway stations. Its segments include The Railway Transportation Business and All other segments. The railroad and related business is conducted by the Company (the Railway Transportation Business). Other segments include on-board catering services, leasing, sales of materials, sale of goods and other businesses related to railway transportation provided by the subsidiaries of the Company. The Company is engaged in the provision of integrated services in relation to railway facilities and technology, commercial trading and other industrial businesses. It also operates with other railway companies in the People's Republic of China (PRC) for the provision of freight transportation services.
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