HONG KONG, Aug. 21, 2014 /PRNewswire/ -- Guangshen
Railway Company Limited ("Guangshen Railway" or the "Company")
(HKEx Stock Code: 525; SSE Stock Code: 601333; American Depositary
Shares ("ADS") Ticker Symbol: GSH) today announced the unaudited
results of the Company and its subsidiaries (the "Group") for the
six months ended June 30, 2014 (the
"Period").
During the Period, in accordance with International Financial
Reporting Standards ("IFRS"), operating revenue of the Company
reached RMB7,168 million, with
revenue from passenger transportation, freight transportation,
railway network usage and other transportation related services,
and other businesses accounting for 48.84%, 11.86%, 33.39% and
5.91% of the total revenue, respectively. Profit from operations
was RMB527 million, and consolidated
profit attributable to equity holders was RMB329 million. Basic earnings per share was
RMB0.05.
Guangshen Railway said, "The first half year of 2014 was an
important period for intensified adjustments in the domestic and
international macroeconomies, with recovery taking place in
Europe and the US at a moderate
pace. The Chinese government persisted in its core strategy of
making progress while maintaining stability in social and economic
development. Despite the impact of decelerated domestic economic
growth, increased efforts in industrial restructuring in the Pearl
River Delta region and intensified competition, which brought about
a slowdown in overall demand in the transportation market, the
Company continued to adhere to the operating objectives established
by the Board of Directors at the start of the year, promoted safety
and risk management, accelerated the transformation of the
Company's operations and development model, further regulated
operations management and improved service quality, which helped us
to ensure the security and stability of our transportation
operation and our overall business."
During the Period, the Company recorded passenger delivery
volume of 42.76 million persons. Revenue from passenger
transportation was RMB3,501 million.
Of this, passenger delivery volume of Through Trains was 1.95
million, and passenger volume of long-distance trains amounting to
23.02 million. Through Trains realized revenue of RMB261 million, marking a year-on-year increase
of 10.21%, while revenue from long-distance trains amounted to
RMB1,968 million. The passenger
delivery volume of Guangzhou-Shenzhen trains amounted to 17.80 million,
realizing revenue of RMB1,044
million. The passenger transportation revenue was affected
by the implementation of the pilot policy within the railway
transportation industry in which business tax has been replaced
with value-added tax ("BT to VAT") since January 1, 2014.
During the Period, freight transportation revenue increased by
32.54% year-on-year to RMB850 million
and freight tonnage (outbound and inbound) reached 24.64 million
tonnes. The increase in freight transportation revenue was mainly
due to the acquisition of the freight transportation business and
assets related to luggage transportation previously operated by the
Dalang Handling Station of China Railway Container and the
Guangzhou Branch Company of China
Railway Express. In addition, the freight transportation business
of the Guangzhou-Pingshi section of the Beijing-Guangzhou Railway
raised the price of freight transportation.
In respect of railway network usage and other transportation
related services, the business recorded revenue of RMB2,394 million. Although revenue from railway
network usage services declined, revenue from other transportation
related services increased by 38.94%, mainly due to an increase in
related revenue subsequent to an increase in the provision of
railway operation services to highspeed trains by the Company
during the reporting period.
Looking forward to the second half of 2014, the Company stated
that "Despite the challenging operating environment, the Company
will continue to drive the restructuring of its transportation
business; to develop its core businesses of passenger
transportation and freight transportation; to enhance the
management of railway operation and services; to reinforce
operations, development and management;, and to further promote
diversified development."
In respect of passenger transportation, the Company will
continue to tap into the potential of the passenger transportation
market, further enhance the operating plans of the Guangzhou-Shenzhen inter-city express trains and
extraordinary holiday passenger trains, and fully leverage the
transportation potential of Dongguan station and Shenzhen East
station to increase the running of long-distance passenger trains.
In addition, the Company will optimize the organization and
management of passenger transportation, capitalize on the
advantages of shared resources and numerous selling points under
joint network ticketing, and increase the selling of return tickets
and cross-region tickets.
In respect of freight transportation, the Company will fortify
reforms in the freight transportation, improve the services and
facilities for freight transportation, and enhance the progress of
the renovation of the goods yards at Dalong station, Yingde
station, Shaoguan East station and other stations.
The Company will also continue to promote diversified
operations, and will establish and commence CRH express
transportation services at stations within the Company's channels,
including Guangzhou station and Shenzhen station, by taking
advantage of the high frequency, high passenger volume, safety and
high speed of the Guangzhou-Shenzhen inter-city express trains. The
Company will also carry out preliminary research and preparatory
work for consolidated land development pursuant to the relevant
national policy to improve its overall competitiveness.
For the 2014 Interim Results Main Accounting Data, please visit:
http://photos.prnasia.com/prnk/20140821/8521404710
About Guangshen Railway Company Limited
Guangshen Railway Company Limited was established in
March 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 in May 1996. In December
2006, the Company returned to the A share market and
successfully listed its shares on the Shanghai Stock Exchange. The
Company is currently the only PRC railway enterprise with its
shares listed on the Shanghai,
Hong Kong and New York stock exchanges. The Company is
engaged in the railway passenger business between Shenzhen, Guangzhou and Pingshi, providing Guangzhou-Shenzhen inter-city train service,
long-distance passenger transportation service, freight
transportation service, and the Hong Kong Through Train passenger
service in cooperation with MTR Corporation in Hong Kong, as well as entrustment
transportation service for other domestic railway companies. As at
December 31, 2013, the Company
operated 229 pairs of passenger trains in accordance with its daily
train schedules, including 105 pairs of Guangzhou-Shenzhen trains (includes 19.5 pairs of spare
trains), 13 pairs of Hong Kong Through Trains (Canton-Kowloon
Through Train: 11 pairs, Zhaoqing-Kowloon Through Train: 1 pair and
Beijing (Shanghai)-Kowloon Trough Train: 1 pair), and
111 pairs of long-distance trains.
For further enquiries, please contact
Guangshen Railway
Company Limited
|
Hill + Knowlton
Strategies Asia
|
Mr. Guo
Xiangdong
|
|
Ms. Daphne
Chan
|
|
Tel:
(86755) 2558 8150
|
Tel: (852) 2894
6217
|
Fax: (86755) 2559
1480
|
Email:
daphne.chan@hkstrategies.com
|
Ms. Grace
Deng
|
|
Ms. Renee
Chen
|
|
Tel: (86755) 2558
8150
|
Tel: (852) 2894
6232
|
Fax: (86755) 2559
1480
|
Email:
renee.chen@hkstrategies.com
|
SOURCE Guangshen Railway Company Limited