Tianjin Port Development Holdings Limited (TIANJINPORT DEV, 03382) announced the unaudited first-half 2026 results of its 56.81%-owned subsidiary, Tianjin Port Holdings Co., Ltd. (“Tianjin Port Co.”). The mainland-listed port operator posted robust earnings growth on the back of tighter cost control and higher investment income, even as topline declined.

Revenue and Profitability • Operating income fell 13.20% year on year to RMB 5.36 billion, reflecting softer throughput and tariff pressure. • Cost of sales dropped a sharper 25.44% to RMB 3.32 billion, lifting gross profit to roughly RMB 2.04 billion and expanding the gross margin by about 8.1 percentage points to 38.1%. • Operating profit climbed 34.30% to RMB 1.34 billion, helped by lower non-cash asset disposal losses and a 12.88% rise in investment income to RMB 0.21 billion. • Net profit surged 38.30% to RMB 1.03 billion, with net margin improving to 19.1% from 12.0% a year earlier. Earnings per share rose to RMB 0.23 from RMB 0.17.

Cost Structure and Expenses • Administrative expenses increased 11.83% to RMB 0.79 billion, partly offset by modest declines in R&D and finance costs. • Finance expenses edged down 2.61% to RMB 50.78 million as interest expenses dropped 28.60% to RMB 61.65 million. • Other income grew 41.21% to RMB 16.35 million, providing additional support to the bottom line.

Comprehensive Income • A RMB 0.11 billion loss in other comprehensive income, driven mainly by fair-value changes in equity investments, reduced total comprehensive income to RMB 0.92 billion, still up 22.34% year on year.

Balance-Sheet Highlights (30 June 2026) • Total assets inched up 0.89% since year-end to RMB 36.08 billion. • Total liabilities contracted 2.02% to RMB 8.84 billion, lowering the liabilities-to-assets ratio to 24.5% from 25.2%. • Equity attributable to shareholders rose 1.73% to RMB 20.45 billion, while minority interests increased to RMB 6.79 billion. • The current ratio improved to 1.42 from 1.32, supported by a 10.21% rise in current assets to RMB 8.13 billion.

Shareholder Structure Tianjin Port Development indirectly holds 56.81% of Tianjin Port Co., whose A-shares trade on the Shanghai Stock Exchange. The disclosed figures pertain solely to Tianjin Port Co. and do not represent consolidated results of Tianjin Port Development.