Guangshen Railway Company Limited released its audited 2025 results:

Revenue & Profitability • Operating revenue rose 5.89 % to RMB 28.69 billion, lifted by higher passenger- and freight-related income. • Net profit attributable to shareholders surged 34.49 % to RMB 1.43 billion, with basic EPS at RMB 0.20. • Net profit margin improved to 4.97 % from 3.91 % in 2024. • Net profit after extraordinary items edged up 3.85 % to RMB 1.06 billion.

Segment Performance • Passenger transportation revenue grew 3.11 % to RMB 11.34 billion; passenger volume slipped 7.59 % to 63.86 million. • Entrusted transportation services generated RMB 8.46 billion, up 5.39 %. • Freight transportation revenue increased 14.89 % to RMB 1.86 billion on a 9.80 % rise in outbound tonnage. • Other businesses contributed RMB 1.71 billion, down 4.04 % due to fewer safety-improvement projects.

Costs & Margins • Operating costs climbed 6.64 % to RMB 27.07 billion; gross margin on core operations slipped 0.63 percentage point to 4.82 %. • Equipment rental and service fees rose 8.97 % to RMB 9.46 billion; maintenance costs advanced 21.75 %.

Cash Flow & Balance Sheet • Net operating cash inflow increased 27.72 % to RMB 3.46 billion. • Cash and bank balances more than doubled to RMB 4.15 billion; no interest-bearing bank borrowings remained at year-end. • Total assets stood at RMB 36.94 billion; equity attributable to shareholders reached RMB 28.29 billion, lifting the equity ratio to 76.5 %.

Dividend & Payout History • Board proposes a cash dividend of RMB 0.09 per share (RMB 637.52 million in total), subject to shareholder approval. • The company distributed RMB 0.07 per share for 2024 and has returned about RMB 13.20 billion to investors since listing, a cumulative payout ratio of 62.71 %.

Capital Expenditure & Commitments • Construction in progress closed at RMB 713.77 million, up 71.95 %. • Outstanding capital commitments reached RMB 1.04 billion, mainly for overhaul and power-supply upgrades.

Outlook & Governance • 2026 targets: passenger volume 63.55 million and outbound freight 16.00 million tonnes. • The company updated its Articles, abolished the Supervisory Committee in line with new Company Law requirements, and strengthened the Board Audit Committee.

No instances of fund misappropriation, illegal guarantees or significant litigation were reported, and Deloitte Touche Tohmatsu issued an unqualified audit opinion for 2025.