Beijing-Shanghai High Speed Railway sees fourfold net profit increase in H1

The increase in net profits of Beijing-Shanghai High Speed Railway Co Ltd more than quadrupled in the first half of this year, The Paper reported on Monday.

The operating revenue of the Beijing-Shanghai High Speed Railway Co Ltd witnessed a 50.3 percent year-on-year increase, reaching 15.1 billion yuan ($2.33 billion) in the first half of the year.

Net profit attributable to shareholders of the listed company grew 417.28 percent year-on-year to reach 2.74 billion yuan in this period, with 0.06 yuan of basic earnings per share.

The railway line transported 18.76 million passenger trips in H1, up 95.6 percent year-on-year, according to The Paper, which cited the company's half-year report.

The main reason behind the increasing number of transported passenger trips was effective control of the COVID-19 pandemic, the report said.

Recovery of the transportation industry continues to improve, with operating passenger traffic volume increasing 11.1 percent year-on-year to reach 4.4 billion people in H1, according to Beijing-Shanghai High Speed Railway.

The share price of Beijing-Shanghai High Speed Railway was at 4.54 yuan as of the close of trading on Aug 30.