The intercity railway market is hoped to boost the slumping profits of the two companies, which have seen their income drop due to the country's suspension of bidding for bullet trains in 2010.

China CSR saw its year-on-year net profits fall in the first quarter of 2013, with income from bullet train sales slumping 50 percent from a year earlier to 3 billion yuan, according to a report from UBS Securities.

China CNR's quarterly report also showed weak performance, as its total sales amounted to 18.15 billion yuan, down 1.35 percent year on year.

However, the gloomy trend is likely to be reversed in 2013 due to the looming resumption of bullet train bidding, the journal reported.

The China Railway Corporation (CRC), newly formed in March 2013 after the breakup of the Ministry of Railways, has finished preparing for restarting the bidding, which is expected to begin in May or June.