The Beijing-Shanghai high-speed railway expects to make a net loss of up to 1.5 billion yuan (US$230 million) in H1, compared with a profit of 2.7 billion yuan in the same period last year. This is the first time the railway has recorded a loss since its listing in 2020.
The Guangzhou-Shenzhen railway also made a loss in the first half, expected to be about 700 million. The same period last year generated a profit of more than 4 million yuan.
Due to pandemic prevention and control measures and stricter controls, passengers and cargo shipments dropped significantly, resulting in losses in operating performance.
