In May this year, Shenzhen Metro Group published its 2024 financial report, revealing a loss of 33.5 billion yuan (about 4.6 billion US dollars), equal to 10.5 percent of its year-end net assets.
That loss equates to burning 91.8 million yuan daily and losing 63,700 yuan each minute. The 27 billion yuan of accumulated profits from the past five years vanished in one year, with an extra 6 billion yuan in losses setting a record for the largest deficit in China’s urban rail history.
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