The Beijing-Shanghai high-speed railway was listed in January 2020, and the listing was just in time for the epidemic. In terms of performance, the profits of the Beijing-Shanghai high-speed railway in 2020, 2021, and 2023 will be 3.2 billion, 4.8 billion, and 57.6 billion. From this point of view, the impact of the epidemic on the railway is very large.
A few days ago, the Beijing-Shanghai high-speed railway released the profits of enterprises in 2023. In 2023, the net profit of the Beijing-Shanghai high-speed railway will be 10.8 billion to 12.2 billion.
After I saw this performance, I directly defined the Beijing-Shanghai high-speed railway as a walking money printing machine?
The Beijing-Shanghai high-speed railway is a high-speed railway connecting Beijing and Shanghai. The total length is 1318 kilometers, a total of 24 stations, including 1060 kilometers of main line bridges, 16 kilometers of tunnels, 242 kilometers of roadbed, the design target speed is 350 kilometers per hour, and the minimum train tracking interval in the design section is 3 minutes. The Beijing-Shanghai high-speed railway runs through 7 provinces and cities including Beijing, Tianjin, Hebei, Shandong, Anhui, Jiangsu and Shanghai, connecting the two major economic zones of the Bohai Rim and the Yangtze River Delta, and is the main artery of the high-speed railway connecting Northeast China, North China and East China.
The Beijing-Shanghai high-speed railway is located in the coastal cities of northern China, which are all developed cities and the main gathering places of the Chinese population.
With such a geographical location, I can say that there will be absolutely no worries about aging in the next 10 to 20 years. Its transportation value and transportation value are very large, and almost every train of the Beijing-Shanghai high-speed railway is in demand throughout the year. In 2023, the passenger traffic volume of the Beijing-Shanghai high-speed railway line has exceeded the level of the same period in 2019, setting a record after the opening of operation.
The operating costs of high-speed rail are mainly the cost of electricity consumed and some daily maintenance costs and the loss of high-speed rail itself, so after the completion of a railway, as long as the construction of the transportation hub is important enough, the transportation of goods and passenger transport is enough. That high-speed rail is actually very profitable!
The two most profitable railways in China are the Daqin Railway, a special coal line connecting Datong City, Shanxi Province, Hebei Province, with an annual net profit of about 13 billion yuan. The other is the Beijing-Shanghai Railway.
The birth of the Daqin Railway is to ensure the country's demand for coal, and the birth of the Beijing-Shanghai Railway is to meet the country's passenger and transportation needs. Therefore, the responsibilities of the two railways are completely different, but it can be seen that the profits of the two railways are extremely high.
High-speed rail is a good industry! After the completion of the annual stable income, take the Beijing-Shanghai high-speed railway as an example, the geographical location is good, the market demand is large, so in the future, the profit of the Beijing-Shanghai high-speed railway will definitely not be less than 10 billion.
According to the annual profit of 11.5 billion yuan of the Beijing-Shanghai high-speed railway, the attributable to 11.5 billion yuan divided by the total share capital of 49.1 billion 023 yuan (earnings per share), and then the latest ** of the Beijing-Shanghai high-speed railway is 499รท0.23 21, so finally, the P/E ratio of the Beijing-Shanghai high-speed railway in 2023 is 21 times.
In the short term, the market value of the Beijing-Shanghai high-speed railway with a price-earnings ratio of 21 times 240 billion is a little expensive, but the Beijing-Shanghai high-speed railway is a walking money printing machine, and I believe that the Beijing-Shanghai high-speed railway will definitely not be less than 10 billion in the next ten years without the influence of external factors. In the long run, the market value of 240 billion yuan of Beijing-Shanghai high-speed railway is not high, such a company has a monopoly position, as well as an absolute cost advantage and geographical advantage!