Daqin Railway's 2024 net profit declines amid revenue drop

Daqin Railway (SSE:601006) reported a net profit attributable to shareholders of CNY 9,039.36 million for 2024, a 24.23% decrease compared to the CNY 11,930.01 million reported in the previous year. Operating revenue also saw a decline, falling by 7.89% to CNY 74,627.27 million from CNY 81,020.39 million in 2023. The company’s board has proposed a cash dividend of CNY 0.14 per share, totaling CNY 2,820.60 million, subject to shareholder approval. The decrease in net profit and revenue were attributed to decreased freight volumes and turnover, and declines in upstream coal supply due to safety checks and increased coal imports. The dividend payout ratio represents 57.31% of the net profit attributable to shareholders. The Board also aims to complete the national railway investment tasks and promote high-quality projects.