Guangshen Railway Announces 2010 Interim Results
HONG KONG, Aug. 24 /PRNewswire-Asia/ --
-- Operating revenues amounted to RMB6,310 million, representing a
year-on-year increase of 7.71%.
-- Revenues from passenger transportation rose 6.35% year-on-year to
RMB3,735 million.
-- Revenues from freight transportation rose 21.35% year-on-year to RMB615
million.
-- Consolidated profit attributable to equity holders amounted to RMB622
million, representing a year-on-year increase of 6.47%.
Guangshen Railway Company Limited (“Guangshen Railway” or the “Company”)
(HKEx Share Code: 525; SSE Share Code: 601333; American Depositary Shares
(“ADS”) Ticket Symbol: GSH) today announced the unaudited interim results of
the Company and its subsidiaries (the “Group”) for the six months ended
30, 2010
During the Period, operating revenues of the Company amounted to
million
year. Profit from operations rose 6.61% year-on-year to
Consolidated profit attributable to equity holders amounted to
representing a year-on-year increase of 6.47%. The board of directors of the
Company does not recommend the payment of any interim dividend for 2010.
Mr.
owing to a continued improvement in the global economy, a significant recovery
of
on the
Shanghai Expo, the demand for passenger and freight transportation within the
Company’s service territory picked up steadily. Faced with a favorable
operating environment, the Company continuously stepped up its marketing
efforts, timely adjusted the organization of transportation, optimized
transportation resources, and actively controlled costs and expenses, thereby
achieving safety and stability in its transportation and production and steady
increases in transportation revenues.”
During the Period, passenger delivery volume of the Company was 42,822,200,
a year-on-year increase of 3.65%. Revenue from passenger transportation rose
6.35% year-on-year to
volumes of
long-distance trains amounted to 18,110,100, 1,490,200 and 23,221,900
respectively, representing year-on-year increases of 11.98% and 10.22% and a
decrease of 2.40% respectively, thereby realizing revenues of
increases of 12.78%, 7.51% and 3.54% respectively.
Both passenger delivery volume and revenue of
inter-city trains increased, mainly attributable to an increase in the volume
of business and tourist passengers travelling between the inland and the Pearl
River Delta region as a result of the recovery of
especially the regional economies of
addition,
stop-at-all-stations operating model which has been in use since
thereby boosting passenger volume.
In respect of long-distance trains, the launching and operating of
long-distance trains which used to run between the
thereby leading to a decrease in passenger delivery volume of long-distance
trains. Nevertheless, the Company’s launching of long-distance trains for
Guangzhou-Tongren and Guangzhou-Xinyang successively, as well as the
Shenzhen-Shanghai Expo special trains, has led to an increase in revenue of
long-distance trains.
In respect of Hong Kong Through Trains, both passenger delivery volume and
revenue increased, mainly attributable to an increase in the volume of
business and tourist passengers travelling between the inland and the Pearl
River Delta region. The opening of Shanghai Expo has also enhanced the growth
on passenger delivery volume.
During the Period, volume of freight transported by the Company rose
21.85% year-on-year to 32,340,000 tonnes. Revenues from freight transportation
increased 21.35% year-on-year to
revenues from freight transportation registered year-on-year increases mainly
due to a significant rebound of the railway freight transportation business
resulting from an improvement of the global economy and a recovery of
macro-economy. In addition, the Company fully captured the favorable
opportunity of the release of freight transportation capacity on the
strengthened the marketing of freight transportation and the organization of
its loading/unloading capacity, thereby achieving good performance as a result.
From
raised by
increase in freight transportation revenue.
Looking forward to the Company’s development in the second half of 2010,
Mr. Xu said, “The reducing impact of the global financial crisis upon the real
economy, the further recovery of
Shanghai Expo and the Guangzhou Asia Games will have positive impacts on the
Company’s passenger and freight transportation businesses. The Company will
capitalize on market opportunities, strive to develop its core business of
railway transportation, actively develop new growth points on passenger and
freight transportation businesses, try to operate more freight through trains,
increase revenues and control expenses, with a view to enhancing the
harmonious development of the Company.”
Guangshen Railway Company Limited was established in 1996. The H shares
and ADS issued by the Company were listed on The Stock Exchange of Hong Kong
Limited and the New York Stock Exchange respectively in
is currently the only PRC railway enterprise with its shares listed overseas.
In
listed its shares on the Shanghai Stock Exchange. The Company holds the sole
operating rights of Guangshen Railway, one of the most modern railways in the
PRC. The Company is mainly engaged in railway passenger and freight
transportation businesses between
long-distance passenger transportation services, and the Canton-Kowloon
Through Train passenger transportation service in cooperation with MTR
Corporation Limited in
215 pairs of passenger trains in accordance with its daily train schedules,
including 100 pairs of
long-distance trains, and 13 pairs of Canton-
Enclosed: Condensed Consolidated Interim Comprehensive Income Statement
(unaudited)
http://www.prnasia.com/sa/attachment/2010/08/20100824229402.pdf
For further information, please contact:
Mr. Guo Xiangdong / Ms. Grace Deng
Guangshen Railway Company Limited
Tel: +86-755-2558-7920 / 2558-8146
Fax: +86-755-2559-1480
Ms. Christy Lai / Ms. Leona Zeng
Rikes Hill & Knowlton Limited
Tel: +852-2520-2201
Fax: +852-2520-2241
SOURCE Guangshen Railway Company Limited
