Daqin Railway(SH:601006) Zhong Zheng Wang·2025-04-30 09:03Group 1 - The core viewpoint of the news is that Daqin Railway has shown strong financial performance in 2024, with a revenue of 74.627 billion yuan and a net profit of 9.039 billion yuan, alongside a proposed cash dividend of 1.4 yuan per 10 shares [1] - Daqin Railway's cargo volume reached 706 million tons in 2024, with a notable increase of 11.97 million tons in non-coal goods, driven by specialized trains for steel, photovoltaic products, and fertilizers [1][3] - The passenger transport business has become a significant growth driver, with 46.41 million passengers transported in 2024, marking an 8.3% year-on-year increase, the highest in five years [1] Group 2 - In March 2025, Daqin Railway's core asset, the Daqin Line, achieved a cargo volume of 35.27 million tons, with a reduced year-on-year decline of 2.1%, indicating improved operational performance [2] - The company has maintained a high dividend payout ratio, with an average of over 50% since its listing, and has proposed a cash dividend of 1.4 yuan per 10 shares for 2024, continuing its trend of high dividends for 19 consecutive years [2] - The railway freight industry is undergoing significant changes, with Daqin Railway leveraging its heavy-load technology and network synergy to strengthen its market position, while also reducing transportation costs by 3.2% year-on-year [3] Group 3 - The company is focusing on enhancing its operational management quality and aims to build a first-class state-owned railway listed company, emphasizing safety and market share in freight transport while improving passenger services [3] - The short-term outlook for Daqin Railway is positive due to the implementation of coal supply policies in Shanxi, which are expected to boost cargo volumes [3] - The long-term prospects are promising, with expectations for significant valuation increases if market reforms in freight pricing are achieved, alongside asset integration opportunities [3]