Guangshen Railway (00525) said its net profit attributable to shareholders for the three months ended 31 March 2014 dropped 63.82% year-on-year to Rmb97.18 million.
Its basic and diluted earnings per share were Rmb1.4 cents.
Revenues from operation amounted to Rmb3.51 billion, a decrease of 5.3% from a year earlier. Such decline was due to the effects of slowdown in the macro-economic growth, fierce competition in the transportation industry and the trial implementation by railway transportation of "business tax replaced with value added tax" policy.
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