China HSR News And Information: Original Translation

[TaiShang]

中国中车：下周一“发车” 高铁巨头业绩看好_股市直播_市场_中金在线
Tomorrow, the first day of merging of CSR&CNR into 中国中车（CRRC) to be listed, 720 billion yuan!
View attachment 227896

近日，中国南车发布公告称，中国南北车完成合并的换股实施工作，公司股票简称由“中国南车”变更为“中国中车”，股票代码继续沿用中国南车的代码，将于6月8日(下周一)正式登陆资本市场。

　　市场聚焦中国中车下周一“发车”总股本达272.88亿股，市值逾7200亿元

　　被市场喻为 “神车”的中国中车“发车”时间终于敲定。近日，中国南车发布公告称，中国南北车完成合并的换股实施工作，公司股票简称由“中国南车”变更为“中国中车”，股票代码继续沿用中国南车的代码，将于6月8日(下周一)正式登陆资本市场。

　　历时半年尘埃落定

　　公告显示，中国南车已于6月1日完成工商变更登记手续，取得了营业执照，变更后的公司名称为“中国中车股份有限公司”。中国南车与中国北车合并的换股实施工作已经完成，合并后新公司采用“中国中车”的股票简称，代码则沿用中国南车的股票代码。同时，中国南车H股的公告也显示，中国中车H股也将于下周一(6月8日)复牌，以新名称在香港联交所买卖。

　　去年12月末，南北车正式宣布合并事宜，两大轨道交通装备制造商的整合重组备受市场关注。根据公告，今年5月20日，中国北车摘牌，正式退出资本市场。5月26日和28日，中国南车、中国北车的H股、A股分别完成换股。随后，中国南车将正式更名为中国中车。

　　6月1日，在中国中车的第一届董事会上选举出管理层团队，原中国北车董事长崔殿国为中国中车第一届董事会董事长，原中国南车董事长郑昌泓、总裁刘化龙分任中国中车副董事长，原中国北车总裁奚国华任中国中车总裁。董事会和经营班子得以确定，也是南北车合并过程中的关键一步。

　　高铁巨头业绩看好

　　资料显示，中国南车合并中国北车后新增A股和H股股份分别约为111.4亿股和23.47亿股，全部为无限售流通股。合并换股完成后，新公司中国中车总股本达272.88亿股。其中，A股总股本约229.18亿股，H股总股本约43.71亿股。根据停牌前价格计算，中国中车市值约为7273.87亿元，超过德国西门子、法国阿尔斯通、加拿大庞巴迪等世界机车制造龙头企业，成为名副其实的交通轨道制造业“巨无霸”。

　　申银万国发布研报认为，同属国务院国资委下的两家公司合并将直接提升业务规模，增强盈利能力，打造以轨道交通装备为核心，跨国经营、全球领先的大型综合性产业集团。国内铁路固定资产投资维持高位、海外市场开拓构成2015年以及“十三五”期间铁路设备行业投资机会两大推动力。

　　也有分析认为，由于停牌前涨幅较大，中国中车复牌上市首日股价大幅波动的概率不大，但在合并后业绩预期的支撑下，股价下行的空间也相对较小。

@Shotgunner51 How I wish I had bought it one year ago. Do you think now it's still the right time?

That's great. Now China's HSR is leaner and more competitive overseas.

 

[AndrewJin]

New ticket booking policy:
Now, you can change destination 48 hours before departure
12306改签新政：火车票可在开车前两天更改到站_网易新闻中心

6月10日起，铁路部门将推出“变更到站”服务措施，旅客购票后，如需调整行程，变更新的目的地，在车票预售期内、开车前48小时以上到车站售票窗口或12306网站变更新的到站即可，无需将原车票退票后再另购新车票。

据了解，按照原铁路车票改签规定，旅客购票后只能变更乘车日期、车次、席位，不能变更到站；如需变更到站，须先退旧票，再买新票。此次推出的服务，旅客可提前60天购票，并可在出发前根据自身需要，灵活调整出行计划。

记者从铁路部门了解到，如新车票票价高于原车票，只需补足车票差价，不需支付原车票退票费；如新车票票价低于原车票，只需支付差额部分的退票费。此外，旅客“变更到站”，只需到车站窗口办理一次手续，无需像过去那样到车站窗口两次排队或在互联网上两次操作(先退票再买票)。

铁路部门负责人介绍，今年春运，一些囤票者，在临近开车48小时前，将囤积的未出手车票改签为距开车15天以上的其他列车车票，然后办理退票，占用了客票资源。针对此行为，6月10日起，铁路部门同步调整车票改退签服务：对开车前48小时至15天内，改签或变更到站至距开车15天以上其他列车车票，又在距开车15天前退票的，核收5%退票费。(新京报记者 郭超)

In previous ticket booking policy, passengers can only change time, train number, and seat but can not change destination station. From 10 June (pls download the newest APP), passengers are allowed to change their destination using APP or at the ticket counter of railway stations 48 hours before departure. If the new ticket fare is higher, difference should be made up without extra fee. If the new ticket fare is cheaper, only the refund fee of the difference is required.

 

[chathrapathi]

Where can i find the details of profit margins for HSR?
Curious to know these figures as India is planning to implement high speed rail network in future...

 

[AndrewJin]

Where can i find the details of profit margins for HSR?
Curious to know these figures as India is planning to implement high speed rail network in future...

So far in the world, only Shanghai-Beijing and Tokyo-Osaka HSR are profitable, mind that annual passengers number of these lines is at least 100 million and there are 250-300 pair of trains daily. I don't think there is a busy corridor in India now can support at least 200 trains daily, but better connectivity will boost traveling need.

If policy makers only centre on profitability, the result will be disappointing, most passenger-dedicated railway in the world are not profitable. But if you look at the social benefits, increasing productivity, saving time, boosting local economy, improving economic integration, promoting tourism, etc, there is no doubt that HSR is reckoned as the key transportation and at least another 40,000 km of HSR will be built in China.
OKR: Regional Economic Impact Analysis of High Speed Rail in China : Main Report

16,000 km by 2014

 

[chathrapathi]

So far in the world, only Shanghai-Beijing and Tokyo-Osaka HSR are profitable, mind that annual passengers number of these lines is at least 100 million and there are 250-300 pair of trains daily. I don't think there is a busy corridor in India now can support at least 200 trains daily, but better connectivity will boost traveling need.

If policy makers only centre on profitability, the result will be disappointing, most passenger-dedicated railway in the world are not profitable. But if you look at the social benefits, increasing productivity, saving time, boosting local economy, improving economic integration, promoting tourism, etc, there is no doubt that HSR is reckoned as the key transportation and at least another 40,000 km of HSR will be built.
OKR: Regional Economic Impact Analysis of High Speed Rail in China : Main Report

16,000 km by 2014
View attachment 228139

India has a huge potential as we have huge population. But we should increase our GDP per capita before implementing high speed. India has many corridors that support 300 or more trains daily...Even a small city Vijayawada gets 300 passenger trains daily...

 

[AndrewJin]

India has a huge potential as we have huge population. But we should increase our GDP per capita before implementing high speed. India has many corridors that support 300 or more trains daily...Even a small city Vijayawada gets 300 passenger trains daily...

I mean long-distance, not suburban trains or short-distance trains. Technically, it's impossible to have more than 300 trains in the same section of one line, which means less than 3 minutes per train in peak hours. That's why a second Shanghai-Beijng HSR and new Tokyo-Osaka Maglev Line are being discussed. When you increase GDP per capita to some level, the construction fee will be tremendous. China started planning and constructing at a similar GDP per capita level as India has now. How many trains per day from Delhi to Mumbai? I think it's similar to Beijing-Shanghai, political capital to economic capital.

 

[chathrapathi]

I mean long-distance, not suburban trains or short-distance trains. Technically, it's impossible to have more than 300 trains in the same section of one line, which means less than 3 minutes per train in peak hours. That's why a second Shanghai-Beijng HSR and new Tokyo-Osaka Maglev Line are being discussed. When you increase GDP per capita to some level, the construction fee will be tremendous. China started planning and constructing at a similar GDP per capita level as India has now. How many trains per day from Delhi to Mumbai? I think it's similar to Beijing-Shanghai, political capital to economic capital.

You have very different picture of Indian railways. India got one of the largest/efficient railway network in the world. China only got bullet trains recently.

 

[AndrewJin]

You have very different picture of Indian railways. India got one of the largest/efficient railway network in the world. China only got bullet trains recently.

Pls read my comment more thoroughly, long distance train vs short-distance train vs suburban train. I once read IR's annual report, the difference of Indian railway and Chinese railway is that the average distance per passenger is very short. So although the total number is very high, passenger*distance index is not so high. Intercity HSR network is more likely to succeed in India than long-distance corridor I think.

How many train from Mumbai to Delhi per day?

 

[Kyle Sun]

We spend too much money on HSR .

 

[chathrapathi]

Pls read my comment more thoroughly, long distance train vs short-distance train vs suburban train. I once read IR's annual report, the difference of Indian railway and Chinese railway is that the average distance per passenger is very short. So although the total number is very high, passenger*distance index is not so high. Intercity HSR network is more likely to succeed in India than long-distance corridor I think.

How many train from Mumbai to Delhi per day?

Why should we have more trains to have high speed rail network!!!

 

[AndrewJin]

We spend too much money on HSR .

I don't think so. Money is returned in other forms.

Why should we have more trains to have high speed rail network!!!

More reasonable figure is to calculate the passengers of trains and airplanes from Delhi to Mumbai, and its likely potential. This is one important aspect of the feasibility study.

 

[chathrapathi]

I don't think so. Money is returned in other forms.


More reasonable figure is calculate the passengers of trains and airplanes from Delhi to Mumbai, and its likely potential. This is one important aspect of feasibility study.

Whats the point in feasibility study?
Anyway it wont be profitable!!!

 

[AndrewJin]

Whats the point in feasibility study?
Anyway it wont be profitable!!!

It won't be profitable, but if only ten trains per day from Delhi to Mumbai, the ticket revenue is too low. If passengers can support at least 30 trains from Delhi to Mumbai, financial burden will be less. So, one important method is to attract airplane passengers to HSR. I think if the price of HSR in India is reasonable, there will be enough passengers from Delhi to Mumbai. In China, HSR ticket fare is less than discounted air tickets in most cases.


Longest tunnel of Shanghai-Kunming HSR holing-through
沪昆高铁“第一长隧”壁板坡隧道全线贯通-新华网
　　新华网昆明６月７日电（记者　胡超）沪昆高铁“第一长隧”壁板坡隧道７日全线贯通，为明年沪昆高铁全线开通运营奠定基础。沪昆客专开通后，云南将接入全国高铁网络，昆明至上海由目前的４０多个小时缩短至１０小时左右。

　　壁板坡隧道位于云贵高原滇黔两省接壤地带，全长１４７５６米，隧道进口位于贵州盘县，出口位于云南富源县。

　　据中铁五局沪昆云南段项目经理部总工程师唐陶文介绍，壁板坡隧道先后多次穿越断层、岩层接触带、高压富水区、煤层采空区等不良地质。隧道最大埋深达７３５米，施工难度和安全风险极大，是沪昆高铁全线３座Ⅰ级风险隧道之一。

　　沪昆高铁云南境内正线全长１８４．７千米，沪昆客专开通后，将形成一条西南与华中、华东地区之间大容量的快捷客运通道，对促进东西部经济文化交流具有重要意义。

Shanghai-Kunming HSR's longest tunnel, 14756-metre Bibanpo Railway Tunnel, was finished on 7 June, laying the foundation of the inauguration of Shanghai-Kunming HSR tomorrow. When the Yunnan section is opened in 2016, Yunnan Province will be one of the few unconnected provinces to be connected to national HSR network. The traveling time from Shanghai to Kunming will be cut from 40 hours to around 10 hours.

Currently, Shanghai-Changsha-Xinhuang section is in operation.
Xinhuang-Guiyang section is scheduled to open before 1 July with all the trials finished.

Doctor Yellow on Xinhuang-Guiyang section which is scheduled to open before 1 July.
(Doctor Yellow is a testing and inspecting train based on CRH380A)

 

[AndrewJin]

CRH380A
waiting for inauguration of Xinhuang-Guizhou section
of Shanghai-Kunming HSR in June 2015

 

[cirr]

I don't think so. Money is returned in other forms.

Agreed。The increase in land value that a new HSR brings alone is more than enough to pay for the cost of construction。Since all land belongs to the State in China，a state-owned HSR operating at a nominal loss is subsidized by state revenues from other avenues such as land sales、increased tax collection from an expanded GDP etc。From one pocket to the other so to speak。The same can't be said about India where land is mostly privately owned and the State gets very little from inflated land prices along an HSR corridor。Private land owners win all。