Tianjin Port Development Holdings Limited (abbrev. TIANJINPORT DEV) has released the unaudited first-quarter 2026 results of its 56.81%-owned subsidiary, Tianjin Port Holdings Co., Ltd.

Revenue and Cost Dynamics • Operating income fell 12.67% year on year to RMB 2.63 billion, reflecting softer throughput and tariff pressures. • Cost of sales dropped 25.70% to RMB 1.61 billion, outpacing the revenue contraction and driving a 20.3% rise in gross profit to RMB 1.03 billion. • Gross margin expanded to 38.95% from 28.28% a year earlier.

Profitability • Operating profit climbed 31.3% to RMB 693.15 million; operating margin improved to 26.34% (Q1 2025: 17.53%). • Net profit advanced 22.9% to RMB 519.76 million, while profit attributable to parent shareholders rose 28.3% to RMB 353.01 million. • Basic and diluted EPS increased to RMB 0.12 from RMB 0.10. • Investment income contributed RMB 84.53 million, up 18.4%; finance expenses eased 12.3% to RMB 21.52 million.

Comprehensive Income • A RMB 58.67 million loss in other comprehensive income tempered overall performance, yet total comprehensive income still grew 11.6% to RMB 461.09 million.

Balance-Sheet Snapshot (31 March 2026) • Total assets edged up 0.49% to RMB 35.94 billion. • Total liabilities contracted 3.52% to RMB 8.70 billion, cutting the liability-to-asset ratio to 24.2% (end-2025: 25.2%). • Equity attributable to owners increased 1.69% to RMB 20.44 billion, bolstered by retained earnings.

Key Takeaways Despite a double-digit drop in revenue, Tianjin Port Co. delivered solid bottom-line growth through stringent cost control, lower finance charges and higher investment income, resulting in stronger margins and a healthier balance sheet for the quarter ended 31 March 2026.