国铁集团净利润38亿元创新高 负债率再降两个百分点至12年前水平

Core Insights - 2024 marks the best year in the history of China National Railway Group Co., Ltd. (referred to as "China Railway Group"), with total revenue and net profit both breaking historical records [1] Financial Performance - Total revenue for 2024 reached 1.28 trillion yuan, a year-on-year increase of 2.40%, while net profit was 38.81 billion yuan, up 17.46% [1] - The previous best year was 2023, with total revenue of 1.25 trillion yuan and net profit of 33.04 billion yuan [2] Debt Management - China Railway Group has successfully reduced debt risk, with a slower increase in liabilities and a decrease in the debt ratio [3] - As of December 31, 2024, total liabilities were 6.20 trillion yuan, a 1.14% increase from 6.13 trillion yuan the previous year, while total assets rose by 4.39% to 9.76 trillion yuan [3] - The debt ratio decreased from 65.56% in 2023 to 63.52% in 2024, marking the third consecutive decline [3][4] Operational Highlights - Total transportation revenue for 2024 was 990.1 billion yuan, reflecting a 2.71% increase, with freight volume reaching 3.99 billion tons, up 1.9%, and passenger volume at 4.31 billion, a record increase of 11.9% [4] - Fixed asset investment in railways exceeded 850 billion yuan, reaching 850.6 billion yuan, an 11.3% increase, with 3,113 kilometers of new railway lines completed [5] Reform and Management - The company is deepening reforms, with 40 railway logistics centers operating and initiatives to promote market-oriented freight pricing [5] - Enhanced budget management and cost control measures are in place, with a focus on optimizing the debt structure and improving economic efficiency [5] Technological Advancements - The report highlights achievements in technology, particularly the CR450 train model, which completed design and manufacturing in 2024 [6]