Guangshen Railway Announces 2011 Q1 Results
HONG KONG, April 14, 2011 /PRNewswire-Asia/ — Guangshen Railway Company Limited (“Guangshen Railway” or the “Company”) (HKEx Share Code: 525; SSE Share Code: 601333; ADS Ticket Symbol: NYSE: GSH) today announced the unaudited operating results of the Company and its subsidiaries (the “Group”) for the three months ended March 31, 2011 (the “Period”).
During the Period, under the PRC Accounting Standards, combined revenues from operation of the Group amounted to approximately RMB3,411 million, representing an increase of approximately 12.81% over the same period of 2010. Net profit attributable to shareholders of the parent amounted to approximately RMB419 million, representing a year-on-year increase of approximately 48.02%. Basic earnings per share was RMB0.059 (Corresponding period of 2010: RMB0.040).
Mr. Xu Xiaoming, Chairman of the Company said, “In the first quarter of 2011, net profit increased significantly because the passenger and freight businesses continued to grow, while the Company adopted effective measures to curb the growth in costs. Looking ahead toward 2011, the PRC’s economy will continue to recover at a moderate rate. This, together with the 26th Summer Universiade to be held in Shenzhen in August, is expected to enable the passenger and freight businesses to maintain steady growth trends.”
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 May 1996. The Company is currently the only PRC railway enterprise with its shares listed overseas. In December 2006, the Company returned to the A share market and successfully listed its shares on the Shanghai Stock Exchange. The Company holds the sole operating rights of the Guangshen Railway, one of the most modern railways in the PRC. The Company is mainly engaged in railway passenger and freight transportation businesses between Shenzhen, Guangzhou and Pingshi, long-distance passenger transportation services, and the Hong Kong Through Train passenger service in cooperation with MTR Corporation in Hong Kong. As at December 31, 2010, the Company operated 224 pairs of passenger trains in accordance with its daily train schedules, including 110 pairs of Guangzhou-Shenzhen trains, 101 pairs of long-distance trains, and 13 pairs of Hong Kong through-trains.
Please visit the following link for the Combined Statement of Profit prepared in accordance with the PRC Accounting Standards (unaudited): http://www.prnasia.com/sa/attachment/2011/04/2011041480018.pdf
For further information, please contact: Mr. Guo Xiangdong / Ms. Grace Deng Guangshen Railway Company Limited Tel: (86755) 2558 7920 / 2558 8146 Fax: (86755) 2559 1480 Ms. Karen Lee / Ms. Christy Lai Rikes Hill & Knowlton Limited Tel: (852) 2520 2201 Fax: (852) 2520 2241
SOURCE Guangshen Railway Company Limited