Analysis On The Sustainable Growth Capacity Of High-speed Railway Passenger Transport Projects Based On Product Attributes And Capital Attributes

Currently,railway transportation companies are actively seeking the participation of social capital.However,whether social capital invests in railway transportation enterprises has to be carefully considered.One of the key indicators considered is the sustainable growth capacity of railway transportation companies.Whether railway transportation companies can make profits and whether they can maintain stable and sustainable growth is a topic of great concern to investors.This article aims to study the sustainable growth of railway transportation enterprises under the reform of state-owned enterprises’ shareholding system.The existing theoretical models of corporate financial sustainable growth in academia and the industry do not consider the differences in the economic attributes of the invested and operated products,and their theoretical assumptions are limited to profitable products with complete commodity attributes,and are not yet applicable to products with both commodity attributes and investment analysis and cognition of public welfare products,such as high-speed railways.This paper studies the economic attributes of railway transportation products and the capital attributes of investment in high-speed railways,relaxes the relevant assumptions of existing models,and builds a sustainable growth model suitable for railway transportation enterprises.From the perspective of investment analysis,analyze the sustainable growth capacity of railway transportation companies,consider the economic attributes of railway passenger and freight products,and the impact of the difference in return requirements of different equity capital on the sustainable growth capacity of railway transportation companies.At the same time,the newly constructed sustainable growth model is applied to estimate the net present value of railway investment projects,and to explore more scientific methods to evaluate the investment value of railway transportation projects.This thesis focuses on the research of sustainable growth theory of enterprises.Through consulting relevant domestic and foreign literature on the development of sustainable growth theory,we can understand the development and practice of sustainable growth theory,summarize the core points of sustainable growth theory;use case studies methods: Taking the A high-speed railway passenger transport project as the case analysis object,select the high-speed railway line trains invested,collect relevant data,calculate its sustainable growth capacity,and evaluate the value of investing in high-speed railway based on this.Combining the characteristics of the railway industry and the characteristics of the current economic environment,the improvement and optimization strategies for the sustainable growth of railway transportation enterprises are proposed from the practical application level.This has important theoretical and practical significance for investors to fully understand the development status of China’s high-speed railways and make investment decisions.