JTF International Holdings Limited (JTF INTL) reported interim results for the six months ended 30 June 2026, delivering a sharp recovery driven by rising refined-oil sales and improved margins.
Revenue jumped 169.0% year on year to RMB1.06 billion, underpinned by a 262% rise in refined-oil turnover to RMB740.66 million and an 89% increase in other petrochemical products to RMB273.18 million. Service income from out-port trade nearly doubled to RMB13.04 million, while fuel-oil sales slipped 17% to RMB30.42 million.
Gross profit expanded to RMB71.68 million from RMB10.84 million, lifting the gross margin to 6.8% (1H25: 2.8%). Refined-oil margin reached 9.8%, supported by sales of low-cost inventory acquired before the Middle-East-driven price spike; other petrochemicals recorded a gross loss of RMB15.24 million amid volatile C6 component prices.
Operating profit reached RMB55.23 million versus a RMB6.71 million loss a year earlier. Net finance income swung to RMB1.55 million (1H25: net cost RMB0.74 million) on higher deposit interest. After a RMB19.28 million tax charge, net profit came in at RMB37.50 million, compared with a RMB5.30 million loss in the prior-year period. Basic EPS was RMB0.040.
Working-capital movements led to a RMB189.93 million operating cash outflow (1H25: inflow RMB143.14 million). Cash and cash equivalents fell to RMB20.81 million at 30 June 2026 from RMB31.94 million at end-2025, while pledged deposits declined to RMB127.16 million. Inventories rose to RMB265.33 million, reflecting higher stock levels of refined oil.
Total assets stood at RMB688.37 million and total equity at RMB449.68 million; the group remained debt-free, leaving gearing at zero. Net current assets increased to RMB455.75 million.
Post-period, JTF INTL raised additional capital via a placing of 186 million new shares at HKD0.69 each, completed on 5 August 2026.
The board declared no interim dividend.
Management highlighted Guangdong’s policy push for high-quality energy development and sees opportunities to strengthen its role in the regional oil and petrochemical supply chain.