TAIPEI (Taiwan News) — Taiwan High Speed Rail reported Thursday a record-breaking revenue of NT$53.19 billion (US$1.77 billion) last year.

THSR Chair Cheng Kuang-yuan (鄭光遠) noted at the company’s annual shareholders’ meeting on Thursday a 6.8% year-on-year revenue increase and a 7.6% rise in pre-tax net profit to NT$15.201 billion, per CNA. Passenger volume reached 78.25 million with daily ridership averaging 214,000.

Cheng said the company increased weekly train services twice last year – first from 1,039 to 1,060 in March and again to 1,103 in July. Annual service frequency reached 57,729 trains last year, up 2,738 from the previous year, per UDN.

Despite global political and economic uncertainty, THSR has maintained steady growth, Cheng said. He added that next-generation trains are now in production and may be delivered ahead of schedule, with the first units expected from Japan in the fourth quarter of 2026. They will enter testing and certification before beginning commercial operations in the second half of 2027.

He noted that the new trains will reflect 18 years of THSR operational experience and local feedback, thanks to an agreement signed with Japanese partners.

THSR is also rolling out a “station services 2.0” initiative to improve the passenger experience. Upgrades are planned for onboard lighting, information displays, and restrooms in its 700T fleet.

Cheng added that the company is preparing to issue another round of sustainable bonds this year, following an NT$1 billion issuance in 2021 – the first of its kind in Taiwan’s transportation sector.