Guangshen Railway : PREANNOUNCEMENT ON ESTIMATED LOSS FOR THE FIRST HALF OF 2022 - Form 6-K
July 15, 2022 at 06:34 am EDT
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PREANNOUNCEMENT ON ESTIMATED LOSS FOR THE FIRST HALF OF 2022
This announcement is made by Guangshen Railway Company Limited (the "Company") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
I.
ESTIMATED RESULTS FOR THE PERIOD
(I)
Period for the Estimated Results
January 1, 2022 to June 30, 2022 (the "Period").
(II)
Estimated Results
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 in the first half of 2022. The net loss attributable to shareholders of the listed company is estimated to be approximately RMB600 million to RMB800 million. The net loss attributable to shareholders of the listed company after deducting the non-recurring gain or loss is estimated to be approximately RMB620 million to RMB820 million.
(III)
The financial figures relating to the estimated results for the Period have not been audited by certified public accountants.
II.
RESULTS FOR THE SAME PERIOD OF LAST YEAR
(I)
For the first half of 2021, the Company recorded a net profit attributable to shareholders of the listed company of RMB4.2755 million and a net profit attributable to shareholders of the listed company after deducting the non-recurring gain or loss of RMB7.4427 million.
(II)
For the first half of 2021, the basic earnings per share of the Company amounted to RMB0.0006.
III.
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.
IV.
RISK WARNING
There are no material uncertainties that will affect the accuracy of the estimated loss for the Period.
V.
OTHER MATTERS
The figures as mentioned above are only based on preliminary estimates, and have not been audited by certified public accountants. Please refer to the unaudited 2022 interim report to be officially disclosed by the Company for accurate financial data. Investors are advised to pay attention to the investment risks.
By Order of the Board of
Guangshen Railway Company Limited
Tang Xiangdong
Company Secretary
Shenzhen, the PRC
July 14, 2022
As at the date of this announcement, the Board consists of:
Executive Directors
Non-executive Directors
Independent Non-executive Directors
Wu Yong
Guo Jiming
Frederick Ma Si-Hang
Hu Lingling
Hu Dan
Tang Xiaofan
Zhou Shangde
Zhang Zhe
Qiu Zilong
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Guangshen Railway Co. Ltd. published this content on 15 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2022 10:33:07 UTC.
Guangshen Railway Company Limited is engaged in the provision of passenger and freight transportation on railroads. The Company also operates certain other businesses, which include services offered in railway stations, and sales of food, beverages and merchandises on board the trains and in the railway stations. Its segments include The Railway Transportation Business and All other segments. The railroad and related business is conducted by the Company (the Railway Transportation Business). Other segments include on-board catering services, leasing, sales of materials, sale of goods and other businesses related to railway transportation provided by the subsidiaries of the Company. The Company is engaged in the provision of integrated services in relation to railway facilities and technology, commercial trading and other industrial businesses. It also operates with other railway companies in the People's Republic of China (PRC) for the provision of freight transportation services.