HONG KONG, March 27, 2014 /PRNewswire/ -- Guangshen Railway
Company Limited ("Guangshen Railway" or the "Company") (HKEx Share
Code: 525; SSE Share Code: 601333; American Depositary Shares
("ADS") Ticker Symbol: GSH) today announced the audited operating
results of the Company and its subsidiaries (the "Group") for the
year ended December 31, 2013 (the
"Year").
In 2013, under International Financial Reporting Standards, the
Company's operating revenue reached RMB
15,801 million, up 4.70% year-on-year. Consolidated profit
attributable to equity holders reached RMB
1,274 million, with basic earnings per share of RMB 0.18. The Board of Directors recommends a
final dividend of RMB 0.08 per share
for 2013, which is equivalent to 44% of the basic earnings per
share this year.
Guangshen Railway said, "In 2013, the Company kept a focus on
its operational objectives and strived to overcome the impact of
unfavorable factors such as slowing macroeconomic growth, sluggish
demand in the railway freight transportation market, intense
competition and frequent natural disasters. Through these efforts,
the Company reinforced infrastructure safety and enhanced the
operational plan for its trains. It also undertook reforms for the
freight transportation organization, implemented measures to grow
transportation volume and revenue, expanded the scope of
diversified operations, and ensured the safety and stability of
transportation and production. Operating revenue and passenger
delivery volume increased while freight tonnage staged a rebound
since July, reflecting the initial outcomes of the freight
reform."
During the year, the Company recorded passenger delivery volume
of 90.9568 million, up 7.52% year-on-year. Revenue from passenger
transportation rose 2.77% year-on-year to RMB 8,058 million, of which passenger delivery
volumes of through trains rose 3.86% year-on-year to 3.9094
million, and passenger volumes of long-distance trains reached
50.0683 million, up 11.14% year-on-year. Long-distance trains and
through trains achieved revenues of RMB
5,144 million and RMB 498
million respectively, marking year-on-year increases of
3.15% and 3.76%. Passenger delivery volume of Guangzhou-Shenzhen trains rose 3.34% to 36.9791 million,
delivering revenue of RMB 2,416
million.
The increase in delivery volume and revenues from passenger
transportion of Guangzhou-Shenzhen inter-city trains, long-distance
trains and through trains was mainly due to the significant
increase in passenger delivery volume of long-distance trains. This
was the result of the opening of a number of long distance train
routes in 2012 and 2013, including that of Guangzhou-Yantai. In
addition, Guangzhou-Shenzhen inter-city trains implemented a new
train schedule from December 21, 2012
that increased the number of trains and hence contributed to an
increase in the passenger delivery volume. Further, more travelers
chose to travel to Hong Kong and
Macau by the Canton-Kowloon
Through Trains due to continuous appreciation of the Renminbi and
the installation of more comfortable trains from December 21, 2012 for the Canton-Kowloon Through
Trains.
Freight tonnage (outbound and inbound) was 59.5564 million
tonnes during the Year, down 4.97% year-on-year mainly due to
sluggish market demand for bulk goods such as metal ores, non-metal
ores and coal arising from slower domestic economic growth and the
State's increasing effort to restructure the industry. Moreover,
part of the freight volume of Guangzhou Port was diverted to Gaolan
Port, Zhuhai upon the opening and operation of GZR. The freight
transportation business was RMB 1,603
million, up 19.28% year-on-year. The increase in revenue was
mainly due to the implementation of reform of freight
transportation organization for railways across the PRC in
June 2013 (under which the Company
has undertaken some of the freight transportation business and
assets previously operated by the Guangzhou Branch Company of China Railway
Express and the Dalang Handling Station of China Railway Container)
as well as an increase of RMB 1.5
cents in average transportation cost of railway freight
transportation across the PRC from February
20, 2013.
Revenue from railway network usage and services and other
transportation related services rose 2.95% year-on-year to
RMB 5,035 million. This was mainly
due to an increase in railway operation services provided by the
Company, related to increased train frequency of GZIR, WGPR and
GSHER, as well as new railway operation services provided to GZR
and XSR.
Looking ahead to 2014, the Company said, "In the long term, the
railway transportation industry is expected to undergo a new period
of development, where the capacity for railway passenger and
freight transportation will grow. As the PRC maintains stable
growth, the State's high-speed railway network, with four East-West
Lines and four South-North Lines and numerous inter-city railways,
will complete its construction and commence operation. The
marketization reform of the railway industry will also be
intensified. Further, the competitive structure of the railway
transportation industry is expected to undergo substantial changes
in the future, with more intense competition not only from other
industries such as highway, aviation and water transportation
industries, but also within the industry itself.
"Under the sound leadership of the Board, the Company will
leverage the historic opportunity of extensive railway construction
and proactively adapt to the railway system reforms, to establish a
steadfast foothold in the Pan Pearl River Delta. Further, the
Company will enhance its business portfolio centered around railway
passengers and freight transportation, complemented by the
railway-related businesses. With an eye to become a top-notch
railway transportation services enterprise in the PRC of increased
scale and enhanced strengths, the Company will also focus on
improving service quality as well as management innovation and
technology innovation."
With respect to its passenger transportation business, the
Company will strive to enhance the operational plan of Guangzhou-Shenzhen inter-city passenger trains, to
expedite the construction of the Pinghu inter-city passenger
transportation station. It will spare no effort to further explore
new growth opportunities for the Guangzhou-Shenzhen intercity passenger trains. The
Company will also fully leverage on the transportation potential of
Dongguan station and Shenzhen East station to enhance the
operational plan of long-distance trains in the Dongguan and Shenzhen regions, step up marketing for the
passenger transportation services of the Canton-Kowloon Through
Trains in response to rising numbers of Mainland visitors to
Hong Kong, improve the hardware
for passenger transportation services as well as raise the quality
of passenger transportation services to cater to travelers'
needs.
With respect to freight transportation, the Company will step up
the reforms of freight transportation organization to promote the
expansion of a fully open and demand-oriented freight business,
which is driven by logistics and a market-centric orientation. The
Company will also identify emerging freight transportation markets
and improve the competitiveness of the railway on the high
value-added freight transportation market.
For the 2013 Annual Results Main Accounting Data, please visit:
http://photos.prnasia.com/prnk/20140327/8521401803
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