Major Chinese steelmaker Baowu Group plans to sell 14.04 percent stake in Shanghai-Hangzhou Railway Special Line Co. Ltd via public bidding, with the base bidding price for the stake set at RMB 2.835 billion ($0.41 billion), as announced by China Beijing Equity Exchange.
In 2017, Shanghai-Hangzhou Railway Special Line achieve an operating revenue of RMB 2.684 billion ($0.39 billion) and a net profit of RMB 926 million ($134.2 million).