China Railway Group

China Railway Group's project in Venezuela hits snag

China Railway is undergoing a painful period as it diversifies from the railway business to mining, toll roads and property. Photo: Bloomberg

China Railway Group's railway project in Venezuela is suffering delays because the Venezuelan government is unable to pay the entire US$7.5 billion contract.

Thursday, 11 April, 2013, 5:07am

Business Digest, January 15, 2013

China Railway gets 30b yuan in mainland deals

Cosco mulls €1b stake in Greece's biggest port

Mainland shipping group Cosco is considering investing €1 billion (HK$10.4 billion) for a 60 per cent stake in Greece's largest port, at Piraeus, which is on the government's privatisation agenda, financial daily Imerisia said. Cosco already has an investment in the port, which is 74 per cent state-owned. Reuters


15 Jan 2013 - 4:16am

Mainland property developers feel heat from rail builders

Property is a tiny fraction of CRCC, contributing just 3 per cent of the company's turnover of 457.37 billion yuan in 2011. Photo: Bloomberg

There are two new kids on the property block on the mainland, namely the nation's big railway builders, China Railway Group and China Railway Construction Corporation (CRCC), which are fast becoming major property developers that are likely to overtake leading mainland and Hong Kong players in the near future.

19 Nov 2012 - 4:13am

China Railway Construction Corp wins 13.2b yuan of orders

China Railway Construction Corporation has won two contracts for the transport system in the "Blue Silicon Valley" in Qingdao and part of a subway line in Shijiazhuang.

China Railway Construction Corporation has won two contracts worth 13.2 billion yuan (HK$16.4 billion), the company announced on the Shanghai Stock Exchange website yesterday.

13 Nov 2012 - 3:53am

Mainland rail builders expect bumper rest of the year

China Railway’s Bai Zhongren

China Railway Group and China Railway Construction Corporation (CRCC), the two state-owned firms that build most of the mainland’s railways, anticipate increased  spending for the rest of this year as Beijing is expected to stimulate the slowing economy.

5 Sep 2012 - 2:24am

Rail chief warns next results will be derailed

China Railway Group yesterday warned that its first-half results would be hurt by the slowdown in rail spending but expected to increase orders for urban metro railways tenfold this year.

17 Apr 2012 - 12:00am

Beijing pursues probe into railway mess

The central government has discovered irregularities in some railway tenders and is investigating further, Li Changjin, chairman of China Railway Group, one of the country's two dominant state-owned rail construction firms, said yesterday.

8 Apr 2011 - 12:00am

Depressed profits hit rail firms' share prices

Shares in China Railway Group and China Railway Construction Corporation (CRCC) fell yesterday after the two state-controlled companies announced profits that fell below market expectations.

The two command more than 80 per cent of the mainland's huge rail-construction market and are also engaged in other businesses, including mining, property and roads.

1 Apr 2011 - 12:00am

China Railway to invest 18b yuan on equipment in new income areas

Newly listed China Railway Group plans to spend 18.16 billion yuan (HK$20.2 billion) this year on equipment to build bridges and subways as well as on build-operate-transfer projects, as a way to reverse the decline of its gross profit margin.

26 Apr 2008 - 12:00am

Port builder battles to maintain margins

China Communications Construction pleasantly surprised the market with an 88.6 per cent increase in last year's net profit to 6.03 billion yuan (HK$6.72 billion), but not all analysts were impressed.

14 Apr 2008 - 12:00am

China Railway to diversify into property

A day after China Railway Group's Hong Kong stock debut, chairman Shi Dahua said property development and overseas expansion would be the way to achieve a more diversified corporation.

The company plans to increase its property business to 10 per cent of the company's total turnover in three years, up from 1.7 per cent.

10 Dec 2007 - 12:00am

China Railway bags HK$19.2b IPO proceeds

China Railway Group easily raised the maximum HK$19.2 billion target for its initial public offering after a flood of orders from global investors, a sign it will not join the growing list of recent first-day trading failures.

1 Dec 2007 - 12:00am

Margin orders swamp China Railway float

Tight liquidity and a big investor appetite have prompted brokerages to close the margin financing books earlier than scheduled on China Railway Group's share offering, deemed to be the most popular of the year.

Brokers also said they were unable to secure funding from banks to lend to their clients despite heavy demand for margin financing.

24 Nov 2007 - 12:00am

Regulators put A before H and talk up mainland listings

'In the past, state-owned enterprises preferred to list in Hong Kong because the A-share price was low. But it's different now. The A-share market offers a very high price-to-earnings ratio. Investors are ready to pay a high price. With such a good A-share market, there isn't a reason not to list most of the shares at home.'

24 Nov 2007 - 12:00am

China Railway listing draws 3.4 trillion yuan

China Railway Group's dual listing got an enthusiastic response yesterday with investors in Hong Kong and Shanghai bidding up the offering prices to the top of their ranges.

23 Nov 2007 - 12:00am