China News Service, August 31. Recently, China National Railway Group Co., Ltd. (hereinafter referred to as China Railway Group) disclosed its financial results for the first half of 2020. In the first half of the year, China Railway Group achieved revenues of 403.9 billion yuan, a year-on-year decrease of 124.2 billion yuan due to the epidemic; a net profit loss of 95.5 billion yuan, including a net profit loss of 34.2 billion yuan in the second quarter, a reduction of 27.2 billion yuan from the first quarter. In the first half of the year, the national railway fixed asset investment was 325.9 billion yuan, an increase of 3.9 billion yuan year-on-year, and the investment task was overfulfilled. Among them, 245.9 billion yuan was completed in the second quarter, an increase of 166 billion yuan from the first quarter.
The relevant person in charge of the National Railway Group introduced that in the first half of the year, the National Railway Group fully implemented the central "six stability" and "six guarantees" decisions and arrangements, adopted effective and effective measures to actively respond to the impact and impact of the new crown pneumonia epidemic, and always maintain the safety of the railway artery Unblocked, continue to promote the high-quality development of railways.
First, the railway epidemic prevention and control is active. A total of 18,700 batches of anti-epidemic materials were delivered to Hubei and Wuhan, and 512,000 tons were delivered, and 458 batches of 13,900 people were transported to Hubei medical personnel; 206 million refunds were processed for passengers free of charge, and 401 trains for workers and students were opened to transport passengers. 454,000 people; strictly control the entry, boarding, and exit of railway stations and check 35,000 passengers with fever, effectively cutting off the spread of the epidemic on the railway.
The second is to promote high-quality railway construction. 1310 kilometers of new lines were put into operation, including 733 kilometers of high-speed railways. The world's first Shanghai-Sutong Yangtze River Highway Bridge with a kilometer-level main span was completed and opened to traffic. A number of new lines were put into operation. The road network structure was more reasonable, which effectively served the regional economic and social development. .
The third is the obvious effect of increasing goods and replenishing customers. The national railway freight forwarding volume achieved growth against the trend, completing 1.694 billion tons, a year-on-year increase of 3.6%. Among them, the average daily load of vehicles reached 152,600 vehicles, an increase of 3.4% year-on-year; the strategic channel for China-Europe freight trains played a prominent role, with 5122 trains operating, an increase of 36% year-on-year. The number of national railway passenger dispatches rebounded month by month, completing 806 million people, a year-on-year decrease of 53.5%. Promptly launch intercity railway fare discount measures, implement large-scale e-ticket services, and continue to operate 81 pairs of non-profit slow trains. In June, the average daily passenger volume was 5.45 million, an increase of 4.22 million from the lowest point in February. . In the second quarter, passenger and cargo transportation revenues rebounded month by month, of which the month-on-month increase from April to June was 500 million yuan, 8 billion yuan, and 2.1 billion yuan. At the same time, important progress has been made in railway technological innovation, targeted poverty alleviation, and going global.
The person in charge said that in order to maintain the health and safety of passengers and railway employees, China National Railway Group made every effort to ensure various expenditures for epidemic prevention and control, vigorously implement cost-saving and consumption reduction, effective cost control, and stable and orderly transportation operations. The main reasons for the decrease in revenue and net profit loss are: Railway, as a service industry, was directly affected by the epidemic. In the first half of this year, passenger transportation revenue decreased by 99.5 billion yuan year-on-year, a decrease of 52.7%; non-transportation revenue from hotels, tourism, and catering decreased by 133 year-on-year 100 million yuan. At the same time, the freight forwarding policy was implemented, and freight revenue decreased by 3.7 billion yuan year-on-year. China Railway Group is an asset-heavy enterprise. Depreciation provision is a rigid expenditure, and debt service is also a rigid expenditure.
The person in charge said that the assets and liabilities of China National Railway Group are mainly formed by accelerating railway construction and maintaining large-scale investment in fixed assets. This is essentially different from operating liabilities that maintain simple reproduction, which corresponds to high-quality assets. China Railway Group raises funds through various methods such as issuing bonds and bank loans, continuously reducing financing costs, and has a reasonable debt structure that is generally at a controllable level. In the first half of this year, despite the impact of the epidemic, which caused a sharp drop in passenger flow, the railway has always maintained safe and unimpeded transportation and scientific prevention and control efforts. Although it has increased costs, it has made a positive contribution to economic and social development. China Railway Group has also actively and steadily promoted the mixed ownership reform. The high-quality asset share reform and listing of China National Railway Corporation have progressed smoothly. The Beijing-Shanghai High-speed Railway and Tieke Track have successfully landed in A shares, which has improved the level of railway asset capitalization and equity securitization; actively deepened railway investment and financing Institutional reforms have promoted market-oriented debt-to-equity swaps, effectively preventing debt risks, and the national railway enterprise governance system and governance capabilities have been significantly improved.
The person in charge said that in the next step, China National Railway Group will serve the overall situation of the party and the country, ensure the safety and smoothness of the railway, focus on changing the development momentum and methods, and further increase technological and management innovation, seek breakthroughs through reforms, and start amidst changes. The new bureau will continue to promote the high-quality development of railways and make new and greater contributions to the decisive victory over a well-off society in an all-round way.