Guangshen Railway Company (525) H2 2025 earnings summary

Executive summary

• Operating revenue reached RMB28.69 billion in 2025, up 5.89% year-over-year; net profit attributable to shareholders rose 34.49% to RMB1.43 billion; basic EPS was RMB0.20.

• Passenger delivery volume declined 7.59% to 63.86 million, while freight volume increased 9.80% to 15.48 million tonnes.

• The Board proposed a cash dividend of RMB0.09 per share, totaling RMB637.5 million, subject to AGM approval.

Financial highlights

• Operating income: RMB28.69 billion (+5.89% YoY); operating profit: RMB1.79 billion (+21.52% YoY).

• Net profit attributable to shareholders: RMB1.43 billion (+34.49% YoY); net cash from operating activities: RMB3.46 billion (+27.72% YoY).

• Basic and diluted EPS: RMB0.2013 (+34.47% YoY); weighted average ROE: 5.16%.

• Extraordinary gains included RMB368 million from asset disposals and RMB133 million in government grants.

Outlook and guidance

• For 2026, targets are 63.55 million passenger deliveries and 16 million tonnes of outbound freight.

• Focus areas: safety, supply optimization, service quality, logistics transformation, and risk management.