HONG KONG, March 24, 2011 /PRNewswire-Asia/ -- Guangshen
Railway Company Limited ("Guangshen Railway" or the "Company")
(HKEx Share Code: 525; SSE Share Code: 601333; American Depositary
Shares ("ADS") Ticker Symbol: NYSE: GSH) today announced the
audited operating results for the year ended December 31, 2010 (the "Year") of the Company and
its subsidiaries (the "Group").
In 2010, under International Financial Reporting Standards
(IFRS), operating revenues of the Company amounted to RMB13,484 million, representing an increase of
8.87% over the previous year. Profit attributable to equity holders
amounted to RMB1,486 million, an
increase of 10.70% year-on-year. Basic earnings per share amounted
to RMB0.21 (2009: RMB0.19). The board of directors of the Company
recommended the payment of a final cash dividend of RMB0.09 per share for 2010 (2009: RMB0.08 per share), accounting for 42.86% of the
basic earnings per share of the Year.
Mr. Xu Xiaoming, Chairman of the
Company said, "In 2010, with the global economy continuing to
improve, the PRC's macro-economy recovered significantly.
Benefiting from the gradual release of freight transportation
capacity on the Wuhan-to-Guangzhou section of the Beijing-Guangzhou
Railway, and the success of the Shanghai World Expo and the Asian
Games in Guangzhou, the demand of
passenger and freight delivery in the Company's main operating area
increased steadily. Faced with an advantageous operating
environment, the Company continuously strengthened its marketing
strategies, timely adjusted its transportation structure,
rationally improved transportation resources and stringently
controlled costs and expenses. The Company achieved safety and
stability in its transportation operation with steady increases in
transportation revenue and profitability."
During the Year, passenger delivery volume of the Company was
84,922,600. Revenue from passenger transportation rose 12.62%
year-on-year to RMB8,104 million. Of
such amount, the passenger delivery volumes of Guangzhou-Shenzhen trains, long-distance trains and Hong
Kong Through Trains amounted to 33,947,800, 44,881,200 and
3,093,600 respectively, representing an increase of 10.31%, a
decrease of 1.46% and an increase of 10.53% year-on-year
respectively. The three operations realised revenues of
RMB2,361 million, RMB5,329 million and RMB414 million respectively, representing
year-on-year increases of 15.37%, 11.71% and 9.32%
respectively.
Both passenger delivery volume and revenue of Guangzhou-Shenzhen trains increased, mainly because the
volume of business and leisure travels between the mainland region
and the Pearl River Delta region has increased thanks to a recovery
of the Guangdong/Hong Kong/Macau's regional economy. Added on top is the
fact that the Guangzhou-Shenzhen inter-city express trains continued
to implement the stop-at-all-stations operating model, thereby
boosting passenger volume. In addition, since June 18, 2010, the cost of a one-way ticket of
the Guangzhou-Shenzhen inter-city trains was raised to
RMB5, leading to an increase in
transportation income; and since July 1,
2010, the number of the Guangzhou-Shenzhen inter-city trains increased to 110
pairs, leading to an increase in the overall capacity.
In respect of long-distance trains, after the launching of the
Wuhan-to-Guangzhou high-speed railway, in order to
optimize railway transportation resources, the Company cancelled
part of the long-distance trains which used to run between
Wuhan and Guangzhou, resulting in a slight year-on-year
decrease in passenger delivery volume of long-distance trains in
2010. The revenue from long-distance trains recorded an increase
mainly because the Company increased pairs of long-distance trains
and the occupancy rate of long-distance trains operated by the
Company increased, thereby leading to an increase in passenger
volume of the trains operated by the Company.
In respect of Hong Kong Through Trains, the increases in
passenger delivery volume and revenue of Hong Kong Through Trains
were mainly due to an increase in business and travel passenger
volume between the mainland and Macau and Hong
Kong, as well as the holding of the Shanghai World Expo and
the Asian Games in Guangzhou,
thereby boosting the traveler volume between Hong Kong, Macau and Shanghai and Guangzhou.
During the Year, tonnage of freight transported by the Company
amounted to 67,931,700 tonnes (2009: 61,987,100 tonnes). Revenues
from freight transportation reached RMB1,361
million (2009: RMB1,210
million). The Company's revenues from freight transportation
and freight volume increased mainly because the railway freight
transportation business rebound steadily, and the Company
pro-actively strengthened the marketing and the load/unload
arrangement of the freight operation, thereby significantly
increasing the tonnage of freight especially outbound freight. In
addition, the nationwide basic freight transportation tariff was
raised RMB0.7 cent per tonne
kilometer, which also contributed to the increase in the revenue of
freight transportation.
Looking forward toward the Company's development in 2011, Mr. Xu
said, "2011 is a critical year for railway enterprises to achieve
the modern construction stage by 2012, and is also a critical
moment for China's macro-economic
policies and railway operations to strive for a stable change of
operational mode. However, the Group is still facing a challenging
and changing operating environment. The Company will earnestly
intensify its safety foundation, actively coordinate transportation
organization and vigorously regulate operation management, so as to
ensure the achievement of its annual operating goals and create
greater operating results."
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.
Enclosed: Condensed Consolidated Income Statement for 2010
(audited):
http://www.prnasia.com/sa/attachment/2011/03/2011032448406.pdf
For further information, please
contact:
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Mr. Guo Xiangdong / Ms. Grace
Deng
Guangshen Railway Company
Limited
Tel: (86755) 2558 7920 / 2558
8146
Fax: (86755) 2559
1480
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Ms. Christy Lai / Ms. Leona
Zeng
Rikes Hill & Knowlton
Limited
Tel: (852) 2520 2201
Fax: (852) 2520 2241
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SOURCE Guangshen Railway Company Limited