Tianjin Port Development Holdings Limited (HKEX: 03382) disclosed the audited results of its 56.81%-owned subsidiary, Tianjin Port Holdings Co., Ltd. (“Tianjin Port Co.”), for the year ended 31 December 2025. The figures were prepared under China Accounting Standards for Business Enterprises.

Total operating income increased 5.97% year on year to RMB 12.79 billion, supported by a 7.14% rise in cost of sales to RMB 9.23 billion. Operating profit reached RMB 2.03 billion, up 7.56%, lifting the operating margin slightly to 15.87% (2024: 15.63%).

Finance expenses fell 52.09% to RMB 74.05 million, reflecting a 32.15% reduction in interest expenses and a 29.23% increase in interest income. Administrative expenses edged down 1.42% to RMB 1.62 billion, while R&D spending grew 2.40% to RMB 97.35 million.

The company recorded a RMB 72.89 million loss on asset disposals (2024: RMB 0.28 million loss), and investment income slipped 2.59% to RMB 360.29 million. Despite these headwinds, total profit before tax rose 7.53% to RMB 2.05 billion. After a 27.29% increase in income tax to RMB 518.26 million, net profit improved 2.20% to RMB 1.54 billion.

Profit attributable to Tianjin Port Co.’s shareholders softened 1.30% to RMB 980.70 million, keeping basic and diluted earnings per share flat at RMB 0.34. Minority interests contributed RMB 554.81 million, up 8.97%.

On the balance sheet, total assets slipped 0.72% to RMB 35.76 billion, as current assets declined 5.18% to RMB 7.37 billion, partly offset by a 0.51% uptick in non-current assets to RMB 28.39 billion. Total liabilities fell 5.09% to RMB 9.02 billion, driven by a 6.23% reduction in current liabilities. Consequently, total equity rose 0.86% to RMB 26.74 billion, with equity attributable to owners up 3.70% to RMB 20.10 billion. The current ratio remained stable at 1.32 (2024: 1.31).

Other comprehensive income after tax expanded 9.10% to RMB 92.56 million, lifting total comprehensive income to RMB 1.63 billion, a 2.54% year-on-year increase.

The audited results pertain solely to Tianjin Port Co. and have been published on the Shanghai Stock Exchange website.