The listing of the Beijing-Shanghai High-Speed Railway Co Ltd soared 43.24 percent and has been temporarily suspended, with a total market value of 343.3 billion yuan ($49.87 billion) on Shanghai Stock Exchange, Sina Finance reported on Thursday.

The stock of the Beijing-Shanghai High-Speed Railway Co Ltd, the operator of the country's most lucrative rail route, opened up 20.08 percent to 5.86 yuan, with a total market value of 287.8 billion yuan during the collective bidding stage on its first trading day today.

With a code of "601816", the stock, issued at a price of 4.88 yuan per share, has raised 30.67 billion yuan in total, the second-largest total amount of funds raised since the implementation of credit subscription.

The fundraising scale for the Beijing-Shanghai High-Speed Railway Co Ltd is only second to that of the Postal Savings Bank of China's IPO, according to the report.

It only took 23 days for the company to receive IPO approval from the China Securities Regulatory Commission on Nov 14, since it submitted its prospectus on Oct 22, which set a new record for the shortest waiting period for regulatory approval.

Noticeably, the price-to-earnings ratio of this issuing surpasses a factor of 23, breaking through this "red line" in the history of IPO issuances and examinations set by the regulatory authorities.

The revenue of the Beijing-Shanghai High-Speed Railway Co Ltd respectively reached 26.26 billion yuan, 29.56 billion yuan, 31.16 billion yuan and 25.00 billion yuan from 2016 to the first three quarters of 2019.

The net profits attributable to the shareholders of the listed company are expected to reach 11-12 billion yuan in 2019, up 7.34-17.10 percent year-on-year, the forecast for the 2019 annual performance report of the Beijing-Shanghai High-Speed Railway said.

With registered capital of 42.82 billion yuan, the Beijing-Shanghai High-Speed Railway Co Ltd was founded on Jan 9, 2008, and its business covers railway construction, passenger transportation, consultation service, equipment purchase and sales, property management, logistics, storage and parking lots, according to Chinese corporate information data providerTianyancha.