Renminbi as far as the eye can see for Shenzhen Metro.
Shenzhen Metro ranked first out of 22 metro companies on the Chinese mainland for 2020 operational revenue in a report from digital media outlet jiemian.com.
The southern city’s revenue was RMB20.92 billion, while net profit was RMB11.1 billion. Guess those two-kuai trips really do add up. In comparison, the operator of Beijing Metro made a profit of RMB3.15 billion while Guangzhou Metro made RMB230 million.
In fact, the Shenzhen Metro’s net profit was more than the “total profit of the other 21 companies, which was accumulatively RMB10.6 billion,” reports EyeShenzhen.
The company also had a relatively small subsidy from the government, a total of RMB36 million for 2020.
Check out the top 10 money-makers below:
10. Chongqing Rail Transit
9. Qingdao Metro
8. Changsha Metro
7. Ningbo Rail Transit
6. Suzhou Rail Transit
5. Wuhan Metro
4. Chengdu Metro
3. Guangzhou Metro
2. Beijing Infrastructure Investment Co.
1. Shenzhen Metro
If you’re wondering where Shanghai sits on the list, their annual report was unavailable to the public. However, according to jiemian.com, their 2017 operating revenue exceeded RMB10.6 billion.
Shenzhen Metro came out on top as almost 70% (RMB15 billion) of its operating revenue came from property development. Like most cities, Shenzhen has adopted a transit-oriented development (TOD) mode which combines metro construction and property development. Other cities which also relied heavily on TOD were Beijing, Wuhan, Ningbo, Guangzhou, Qingdao and Nanning.
Out of 18 companies surveyed, 14 of them had ticket revenues that accounted for less than 50% of their operating revenues. Ningbo, Suzhou and Nanchang ticketing took up less than 10% of their operating revenues.
[Cover image via Wikimedia]