China: Beijing-Shanghai High Speed Rail: 60% fewer passengers in the first half
Jinghu High Speed Rail:
Jinghu High Speed Rail is a high-speed rail operator that connects Beijing and Shanghai.
Jinghu High Speed Rail announced the first half financial results on August 27.
First half financial results:
The financial results for the January-June period of 2020 renewed the seriousness of the new Corona.
Jinghu passenger line:
“Dollar box line”, which boasts the highest profitability among railways across China
Sales of theJinghu high-speed railway in the January-June period fell sharply.
It was 10,046 million yuan (about 154.7 billion yen), down 40% from the same period of the previous year.
The drop in net income is even greater.
It decreased by 90% to 530 million yuan (about 8.2 billion yen).
The biggest reason:
According to the financial report,
The total number of passenger transport passengers in the January-June period was 9.59 million, a decrease of 61.7% from the same period of the previous year.
As a result, the two major sources of revenue, fare and track usage fee, both decreased significantly.
National Railways Bureau: Other Factors for Revenue Reduction
The cause of poor performance at the Jinghu high-speed railway is not just the impact Corona has given to the Jinghu passenger line.
In January 2020,Jinghu High-speed Railway acquired Anhui (Keifu Anhui), which is a dedicated passenger line for Keifuku Railway.
According to the financial results report, Keifuku Anhui posted a net loss of 1,229 million yuan (about 18.9 billion yen) in the first six months.
“Fortune” China Biz & Tech