HONG KONG, Aug. 18, 2011 /PRNewswire-Asia/ --
- Operating revenues amounted to RMB6,934
million, representing a year-on-year increase of 9.90%.
- Revenues from passenger transportation rose 10.88% year-on-year
to RMB3,908 million.
- Revenues from freight transportation rose 4.58% year-on-year to
RMB643 million.
- Consolidated profit attributable to equity holders amounted to
RMB915 million, a year-on-year
increase of 47.20%.
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
(collectively the "Group") for the six months ended June 30, 2011 (the "Period").
During the Period, operating revenues of the Company amounted to
RMB6,934 million, representing an
increase of 9.90% over the corresponding period of the previous
year. Profit from operations rose 42.71% year-on-year to
RMB1,298 million. Consolidated profit
attributable to equity holders amounted to RMB915 million, representing a year-on-year
increase of 47.20%. The board of directors of the Company does not
recommend the payment of any interim dividend for 2011.
Guangshen Railway said, "In the first half of 2011, China's economic operation looked sound in
general. The construction of high-speed railways continued to
enhance capacities of passenger transportation and release
capacities of freight transportation of China's railways, strengthening the overall
competitiveness of the railway industry and taking the railway
transportation industry to new development horizons. Faced with a
relatively stable macro-economic environment and a sound
development trend of the industry, 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, continuous
increases in transportation revenues, and a steady improvement in
profitability."
During the Period, passenger delivery volume of the Company was
45,437,600, a year-on-year increase of 6.11%. Revenue from
passenger transportation rose 10.88% year-on-year to RMB3,908 million. Of such amount, the passenger
delivery volumes of Guangzhou-Shenzhen inter-city trains, Hong Kong Through
Trains and long-distance trains amounted to 19,419,100, 1,755,800
and 24,262,700 respectively, representing year-on-year increases of
7.23%, 17.82% and 4.48% respectively, thereby realizing revenues of
RMB1,292 million, RMB219 million and RMB2,397 million respectively, representing
year-on-year increases of 15.74%, 12.23% and 8.31%
respectively.
Both passenger delivery volume and revenue of Guangzhou-Shenzhen inter-city trains increased, mainly
because the volume of business, tourist and labour force passengers
travelling between the inland and the Pearl River Delta region
increased thanks to a steady and relatively fast growth of
China's macro-economy, especially
the economy of Pearl River Delta region. A portion of passenger
flows for highways was transferred to railway transportation as a
result of an increase in travelling costs for highway
transportation. In addition, the Company increased the number of
Guangzhou-Shenzhen inter-city trains stopped at
Guangzhou Railway Station which attracted certain transfer
passengers; and transportation income increased also owning to the
RMB5 ticket price increase on
Guangzhou-Shenzhen inter-city trains.
In respect of long-distance trains, both passenger delivery
volume and revenue rose, mainly because the Company adjusted the
operation schedule of the trains within its jurisdiction and
increased 5 pairs of long-distance trains, leading to a
year-on-year increase in the transportation capacity of
long-distance trains; long-distance trains including
Guangzhou-Tongren and Guangzhou-Xinyang launched by the Company
continued to operate during the Period; and the Shenzhen-Shanghai
Expo special trains were adjusted as scheduled long-distance
trains.
In respect of Hong Kong Through Trains, both passenger delivery
volume and revenue increased, mainly attributable to an increase in
passenger volume between the Mainland and Macau and Hong
Kong as a result of Hong
Kong and Macau being
favoured as the destinations for travelling and shopping by
domestic residents.
During the Period, revenues from freight transportation of the
Company increased 4.58% year-on-year to RMB643 million mainly due to an increase in the
volume of imported coal, coke and refined oil products delivered by
the Company. Meanwhile, since 1 April
2011, the nationwide railway freight transportation tariff
was raised RMB0.20 cent per
tone-kilometer, which also contributed to an increase in revenue on
freight transportation.
Revenue from railway network usage and other transportation
services rose 9.47% year-on-year, mainly because the services
provided by the Company to other railway lines increased.
Looking forward to the Company's development in the second half
of 2011, the Company said, "Although there remains numerous
uncertainties during the process of the global economic recovery
and China's economic operation,
China's economy is expected to
continue a steady and relatively fast development. In addition, the
railway transportation industry will achieve continued improvements
on its passenger and freight transportation capacities and
competitiveness given the push of the high-speed railway. The 26th
Summer Universiade held in August in Shenzhen City will bring to the Company's
passenger transportation business an opportunity of growth. The
Company will capitalize on market opportunities; strive to improve
its transportation efficiency and capacity; continuously intensify
its safety infrastructure construction; endeavor to develop new
growth points of passenger volume on Guangzhou-Shenzhen inter-city trains; strive to operate
more long-distance trains with profitability; and push forward the
logistics development, market promotion and contract-out of railway
goods depot, 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 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 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 Canton-Kowloon Through Train
passenger transportation service in cooperation with MTR
Corporation Limited in Hong Kong.
As at June 30, 2011, the Company
operated 231 pairs of passenger trains in accordance with its daily
train schedules, including 110 pairs of Guangzhou-Shenzhen inter-city trains, 108 pairs of
long-distance trains, and 13 pairs of Hong Kong through-trains (11 pairs of
Canton-Kowloon Through Trains, 1 pair of Zhaoqing-Kowloon Through
Train and 1 pair of Beijing
(Shanghai)-Kowloon Through
Train).
Enclosed: Condensed Consolidated Interim Comprehensive Income
Statement (unaudited)
http://www.prnasia.com/sa/attachment/2011/08/20110818699908.pdf
For further information, please contact:
Mr. Guo Xiangdong / Ms.
Grace Deng
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Ms. Leona Zeng / Ms.
Christy Lai
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Guangshen Railway Company
Limited
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Rikes Hill & Knowlton
Limited
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Tel: (86755) 2558 7920 /
2558 8146
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Tel: (852) 2520
2201
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Fax: (86755) 2559
1480
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Fax: (852) 2520
2241
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Email:irm@gsrc.com
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Email:leona.zeng@rikes.hillandknowlton.com
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christy.lai@rikes.hillandknowlton.com
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SOURCE Guangshen Railway Company Limited