China Railway Corporation 2017 net profit nears five year high
China Railway Corporation (CRC)’s net profit in 2017 neared a five-year high while its debt growth slowed.
The CRC took about one trillion yuan (160 billion U.S. dollars) in revenue last year, up 11.9 percent year on year, while its net profit stood at about 1.8 billion yuan, up 69 percent year on year.
The company also saw slower debt growth last year. An additional debt of 272 billion was registered, while that for 2016 was 620 billion yuan.
In the first three months of this year, the CRC took 179 billion yuan, up 5.7 percent year on year. Passenger transportation income stood out as the biggest contributor.
The company invested about 92 billion yuan in fixed-asset investment in Q1, about 12.6 percent of its annual FAI target.