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Credit Suisse stated in its report that the third quarterly results of CHINA RAILWAY (00390.HK)  -0.090 (-1.860%)    Short selling $11.55M; Ratio 17.996%   was in concordance with estimates. The revenue was increased steadily during the period, with a year-on-year growth of 13%. As benefited by improving profit margin on railway and metro business, the overall profit margin hedged up 1 percentage point to 8.3%. The broker considered that the supportive governmental policies of the PRC government and improving financial management will enhance the stable earnings growth of China Railway. The target price was lifted from $5.05 to $6.2 correspondingly, maintaining the rating of Outperform.

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