Daqin Railway said that its 2010 net profit increased by 46% YoY to CNY 10.41 billion, with earnings per share of CNY 0.7. Revenue increased by 26% YoY to CNY 42.01 billion.

The company transported 476 million tonnes of cargo in 2010, accounting for 15% of the 3.08 billion tonnes of national cargo transported by rail.

Coal transportation volume totaled 401 million tonnes in 2010, accounting for 26% of the 1.56 billion tonnes of coal transported by rail in China.

The Ministry of Railways had since December 2009 raised the price of cargo transport by CNY 0.007 per tonne kilometer. This increased the company's revenues from cargo transport, passenger transport and other businesses by CNY 6.21 billion, CNY 950 million and CNY 1.43 billion, respectively.

Daqin Railway is targeting to post 2011 revenue of CNY 43.6 billion.

(Sourced from Securities Times)