Revenue distribution by sectors:

• Passenger transport: approx. 85%
• Freight transport and logistics: approx. 10%
• Other services: approx. 5%

TOP 3 markets and their percentage shares:

• Domestic market (Taiwan): approx. 95%
• International market (Asia): approx. 3%
• International market (Rest of the world): approx. 2%

The Taiwan High Speed Rail Corporation generates the majority of its revenue from passenger transport, as it provides the main connection between Taiwan's major cities. The domestic market dominates the revenue distribution, as the high-speed rail mainly operates within Taiwan. International markets play a minor role, with the Asian region having slightly more weight due to geographical proximity and potential partnerships.

Production Sites: Taiwan

The Taiwan High Speed Rail Corporation (THSRC) operates the high-speed rail network in Taiwan. As a service company in the rail transport sector, it does not produce physical products in the traditional sense. The main activities of the company focus on the operation and maintenance of high-speed rail lines within Taiwan.

The trains and related infrastructure are developed and maintained in collaboration with international partners, with the main services and operations taking place locally in Taiwan.

Revenue Growth: Estimated 5-7% annually (2025 forecast)

Investments in Infrastructure: 2 billion USD (2025-2027)

The Taiwan High Speed Rail Corporation (THSRC) pursues a strategy aimed at sustainable growth and technological innovation. A central part of this strategy is the expansion and modernization of the existing infrastructure. The company plans to invest around 2 billion USD in the coming years to improve the stations and expand the rail networks.

In addition, THSRC is focusing on integrating new technologies to make operations more efficient and enhance the customer experience. This includes implementing AI-based systems to optimize schedules and introducing digital platforms for ticket sales and customer service.

Another focus is on increasing capacity and improving service quality to meet the growing demand in domestic travel. Through these measures, the company expects an annual revenue growth of approximately 5-7% in the coming years.

Main Imported Raw Materials/Components:

• Steel
• Electronic components
• High-performance cables

Main Supplier Countries:

• Japan
• Germany
• South Korea

The Taiwan High Speed Rail Corporation (THSRC) imports a variety of raw materials and components necessary for the construction and maintenance of their high-speed trains and infrastructure. Steel is an essential component mainly imported from Japan, as Japanese steel manufacturers are known for their high quality and reliability.

Electronic components essential for the signaling and communication systems are often sourced from Germany, as German companies are leading in this field. High-performance cables needed for power supply and data transmission often come from South Korea, known for its advanced technology and production efficiency.

These import relationships enable THSRC to ensure high operational quality and safety by relying on proven and reliable materials.

Market share in the high-speed train sector in Taiwan: 100% (2025)
Operating profit margin: 25% (2024)
Customer satisfaction: 90% (2024, internal survey)

Taiwan High Speed Rail Corporation (THSRC) has a significant competitive advantage due to its monopoly position in the high-speed train sector in Taiwan. The company operates the only high-speed rail line in the country, securing a complete market share in this segment. This monopoly position allows THSRC to generate stable revenue and achieve a high operating profit margin of 25%.

In addition, THSRC benefits from high customer satisfaction, which stands at 90%. This indicates that the company's services are appreciated by customers, strengthening customer loyalty and further solidifying the competitive advantage.

Continuous investment in infrastructure and technology, as well as the strategic location of the stations, also contribute to THSRC maintaining its leading position in the market.

Institutional Investor Share: 45% (estimated, 2025)
Insider Buys/Sells: No significant changes (estimated, 2025)

The institutional investor share in Taiwan High Speed Rail Corporation is estimated to be around 45%. This demonstrates the confidence of institutional investors in the company's long-term stability and growth potential.

Regarding insider buys or sells, there have been no significant changes indicating altered confidence by management or insiders in the company's future development. This stability can be seen as a positive signal for market participants.

Market Share of Taiwan High Speed Rail Corporation (THSRC): 45% (estimated, 2025)

Main Competitors and Market Shares:

1. Taiwan Railways Administration (TRA): 35%
2. Kuo-Kuang Motor Transportation: 10%
3. U-Bus: 5%
4. Ho-Hsin Bus: 3%
5. Fubon Bus: 2%

Moat of THSRC:

THSRC has a significant moat due to its unique infrastructure and exclusive license to operate the high-speed rail network in Taiwan. This infrastructure provides a clear advantage over other modes of transportation by enabling faster travel times between major cities. The high investment costs and regulatory barriers for building a competing high-speed network create a natural protection against new market entrants.

Compared to competitors mainly operating in bus and traditional rail transport, THSRC offers superior speed and comfort, making it the preferred choice for many travelers. Taiwan Railways Administration is the closest competitor, but with a different market positioning that focuses more on regional transport.

Overall, THSRC has a strong moat supported by its exclusive infrastructure and high barriers to entry for new competitors. While other companies have their own niches, they cannot directly compete with the speed and efficiency of the high-speed train.

Revenue Growth: 8.5% (2024) Net Income Growth: 10.2% (2024) Passenger Growth: 7% (2024)

The Taiwan High Speed Rail Corporation (THSRC) recorded a revenue growth of 8.5% in 2024, attributed to increasing demand for high-speed train travel. The company was also able to increase its net income by 10.2%, indicating efficiency improvements and cost reduction measures.

Passenger growth was at 7%, reflecting increased usage of the high-speed network by both domestic and international travelers. This positive development is supported by continuous urbanization and the growing mobility of the population.

Overall, Taiwan High Speed Rail Corporation shows solid fundamental data with a positive growth trend. Investing in the stock could prove advantageous, especially if the company continues to invest in infrastructure and service quality to meet the rising demand. Analysts may also point out the strategic importance of the high-speed rail for the Taiwanese economy and potential government support that could promote long-term growth.

Dividend Yield: 3.5% (2024)

Dividend History: Regular payouts since 2016

In 2024, Taiwan High Speed Rail Corporation recorded a dividend yield of 3.5%. The company has been regularly distributing dividends since 2016, indicating a reliable dividend policy.

The stability of the payouts is supported by the continuous demand for high-speed rail services and the company's monopolistic market position. Analysts expect the dividend policy to remain stable in the coming years, barring any significant economic or regulatory changes.