China’s Beijing-Shanghai high-speed rail operator plans stock market listing after making more than Apple

By: Karen Yeung

The company that operates the Beijing-Shanghai section of China’s high-speed railway network has submitted a formal application to float on the stock market, and in doing so revealed details of its lucrative operation.

According to the filing, published by the China Securities Regulatory Commission on Friday, Beijing-Shanghai High Speed Railway, which operates the 1,300km (807 mile) line, booked a net profit of 9.5 billion yuan (US$1.3 billion) in the first nine months of the year.

That represents a margin of about 38 per cent on its revenue for the period and makes it more profitable than both Apple which makes the iPhone, and Kweichow Moutai, which makes China’s most famous brand of baijiu, the world’s most popular spirit.

To read more:

Leave a Reply

Your email address will not be published. Required fields are marked *