Guangshen’s First-Half 2016 Result Beats; High-Speed Delegated Service Becomes a Key Growth Driver
Despite weakness in both passenger and freight traffic, Guangshen Railway posted strong first-half 2016 results that beat market expectations, with recurring net profit increasing 21% to CNY 682 million on 9.5% revenue growth and 0.7% margin expansion, making up 60% of our full-year forecast. Notably, the company’s transport service segment, which mainly comprises its high-speed rail operations, contributed 94% of overall revenue growth, becoming the key growth driver. We increase our 2016 earni...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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