Beijing-Shanghai High-Speed Railway (601816) H2 2024 earnings summary

Executive summary

• Achieved total operating revenue of ¥42.16 billion, up 3.62% year-over-year; net profit attributable to shareholders was ¥12.77 billion, up 10.59% year-over-year.

• Maintained stable high-speed rail operations, with mainline passenger volume reaching 52.02 million and cross-line train mileage up 11.4% year-over-year.

• Enhanced cost control and efficiency, with significant reductions in financing costs and energy expenditures.

• Continued to strengthen corporate governance, internal controls, and investor relations, including a share repurchase program to stabilize market value.

• Recognized for high-quality development and awarded multiple industry honors.

Financial highlights

• Operating revenue: ¥42.16 billion, up 3.62% year-over-year.

• Net profit attributable to shareholders: ¥12.77 billion, up 10.59% year-over-year.

• Gross margin for railway transport: 46.92%, up 1.63 percentage points year-over-year.

• Operating cash flow: ¥20.07 billion, down 4.82% year-over-year.

• Total assets: ¥284.66 billion; net assets attributable to shareholders: ¥202.40 billion.

Outlook and guidance

• Focus on optimizing train operations, enhancing service quality, and integrating with tourism to drive demand.

• Emphasize safety, technological innovation, and cost control to support high-quality growth.

• Continue to implement smart railway upgrades and deepen reforms for world-class railway enterprise status.