Guangshen Railway Company Limited provided preliminary unaudited earnings guidance for the first half ended June 30, 2022. For the period, according to the preliminary estimate made by the finance department of the Company based on the China Accounting Standards for Business Enterprises, the Company will suffer a loss. The net loss attributable to shareholders of the listed company is estimated to be approximately RMB 600 million to RMB 800 million.

The net loss attributable to shareholders of the listed company after deducting the non- recurring gain or loss is estimated to be approximately RMB 620 million to RMB 820 million. For the first half of 2021, the Company recorded a net profit attributable to shareholders of the listed company of RMB 4.2755 million and a net profit attributable to shareholders of the listed company after deducting the non-recurring gain or loss of RMB 7.4427 million. For the first half of 2021, the basic earnings per share of the Company amounted to RMB 0.0006.

Main reasons for the estimated loss for the period: during the period, the impact of the pandemic has been ongoing. The pandemic outside Mainland China has yet been effectively controlled and the pandemic inside mainland China appears to have local outbreak or disperse infection. Facing the pandemic, the Company has always effectively carried out pandemic prevention and control, adapted to changes in market demand, adjusted the passenger and cargo transportation arrangement in a timely manner, implemented strict cost control measures, and strived to minimize the impact of the pandemic.

Although the Company has made every effort to increase the numbers of transportation, increase revenue, save expenses and reduce consumption, the number of passengers and cargo shipments have dropped significantly as a result of the continuous impact of the pandemic on the Company's main business of passenger and cargo transportation, causing the operating performance of the Company in the first half of 2022 to be under deficit.