Recently, China National Railway Group Co., Ltd. (hereinafter referred to as China Railway Group) disclosed its final financial accounts for the first three quarters of 2020. In the first three quarters, China Railway Group achieved revenue of 679.5 billion yuan, a year-on-year decrease of 130.6 billion yuan, a decrease of 16.1%, and a decrease of 7.4 percentage points from the first half of the year. Among them, the third quarter achieved revenue of 275.5 billion yuan, turning losses into profits in the first three quarters; The quarterly net profit loss was 78.7 billion yuan, which was a significant reduction from the first half of the year, and the operating results were better than expected.
In the third quarter, the national railway fixed asset investment was 227.2 billion yuan, and the total completed in the first three quarters was 553.1 billion yuan. 1,926 kilometers of new lines were put into operation, 15 new projects were started, and the scale of new investment exceeded 480 billion yuan.
At the same time, with more efforts in operation and development, the income of railway tourism, hotels, catering and other non-transportation industries continued to rise; through various measures such as releasing the effectiveness of the equipment repair system reform and improving the efficiency of fund utilization, vigorously implemented cost-saving and consumption reduction. Driven by the rapid growth of railway passenger and freight traffic, in the third quarter, China Railway Group’s passenger and freight transportation revenue completed 180.2 billion yuan, an increase of 39.3 billion yuan or 27.9% from the second quarter.