日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

High-speed rail operator's shares zoom by 43.24%

By Liu Zhihua | China Daily | Updated: 2020-01-17 09:24
Share
Share - WeChat
Beijing-Shanghai High Speed Railway Co Ltd is listed on the Shanghai Stock Exchange on Thursday. [Photo provided to China Daily]

Beijing-Shanghai High Speed Railway Co Ltd, the operator of the high-speed railway linking the two most developed cities of China, saw its shares rising by 43.24 percent to 6.99 yuan ($1.02) on debut before closing at 6.77 yuan on Thursday, up 38.73 percent from its initial public offer price of 4.88 yuan.

The strong debut signaled investors' confidence in the State-owned railway operator, as it owns China's most lucrative high-speed rail network, and has been deepening reforms to enhance performance and operation efficiency, analysts said.

MSCI Inc, the world's largest index provider, said on Thursday that it would include the company's shares in two of the indexes for China's stocks, starting Feb 6.

Ping An Asset Management Co, the representative of an insurance fund consortium, said it remains confident on the high-speed railway's growth, and will hold the company shares for the long term.

The company, founded in 2007, has reported sustained profitability for five consecutive years since 2014, according to national railway operator China State Railway Group Co Ltd, the parent of Beijing-Shanghai High Speed Railway's controlling shareholder China Railway Investment Co Ltd.

The company's 1,318-kilometer railway line between Beijing and Shanghai, which started operations in 2011, is the world's longest high-speed railway line constructed in a single phase with highest quality standards, and covers 66 counties of seven provinces and municipalities in two of China's most densely-populated and busy economic areas-Beijing-Tianjin-Hebei and Yangtze River Delta regions.

It earned a net profit of 9.52 billion yuan on revenue of 25 billion yuan by the end of September 2019, and earned profit of 10.25 billion yuan in 2018, up 13.2 percent on a yearly basis, the company said.

"The company's performance on its first trading day was not a surprise, with its promising profitability and its inherent advantage as a State-owned company and its huge customer base," said Dong Dengxin, director of the Wuhan University of Science and Technology's Finance and Securities Institute.

"The main significance of the company's listing is not just raising funds, but the fact that it sets an example for a State-owned railway company to use the capital market to deepen reforms and enhance operations."

Once listed and subject to capital market rules, the company will become more transparent and regulated in its operations and management and could use the IPO proceeds and capital market tools to better implement its strategic plans to expand, including mergers and acquisitions, he said.

That means, the company's operation and management efficiency will be enhanced, and it will accumulate experiences for the State-owned asset owners to leverage on the capital market to bring in diversified investors, to strategically manage industry resource allocation, and to improve the optimal distribution of State-owned capital and the operational efficiency, he said.

The company got approval for an IPO from the China Securities Regulatory Commission on Nov 14, after submitting a request on Oct 22.

It raised 30.7 billion yuan by selling 6.29 billion shares at 4.88 yuan apiece and had a price-to-earnings ratio of 23.39 times, above the current cap of 23 times for the first time in new shares issuance.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产成人综合亚洲动漫在线 | 欧美黄色免费网站 | 91视频青娱乐 | 亚洲综合色播 | 99热精品在线 | 免费无码一区二区三区A片18 | 欧美日韩国产一区二区三区 | 91文字幕巨乱亚洲香蕉 | 亚洲高清中文字幕综合网 | a天堂资源在线观看 | 色偷偷888欧美精品久久久 | 一区二区中文 | 国产精品1区2区3区 一级电影免费 | 欧美在线黄 | 97超碰免费| 婷婷综合 在线 | 欧美成人免费毛片 | 一区二区成人 | wwwwxxxx免费 | 天干夜天天夜天干天国产电影 | 日韩欧美亚洲综合 | 欧美91精品国产自产 | 国产高清一区二区 | 黄色片视频观看 | 日本黄色小视频在线观看 | 国产精品视频免费的 | 精品视频入口 | 国产原创视频在线 | 超级碰在线视频 | 亚洲欧美日本人成在线观看 | 欧美男人天堂 | 欧美aⅴ| 免费网站色 | 九九热在线免费观看 | 啪啪啪毛片 | 小优视频为爱而生懂你更多茄子 | 国产成人福利精品视频 | 成人黄页在线观看 | 国产美女自卫慰视频福利 | 国产欧美日韩精品a在线观看高清 | 国产综合久久 |