Tianjin Port Development (3382) H2 2025 earnings summary

Executive summary

• Total cargo throughput reached 457 million tonnes, with container throughput at 20.81 million TEUs, up 0.9% and 1.7% year-over-year, respectively.

• Revenue from continuing operations rose 7.0% year-over-year to HK$11,689 million.

• Profit attributable to equity holders was HK$667 million, down 3.4% year-over-year, mainly due to a one-off asset disposal loss.

• Basic earnings per share was HK10.8 cents; proposed final dividend of HK4.33 cents per share (40% payout ratio).

• Disposed of main sales business segment, reclassifying it as a discontinued operation.

Financial highlights

• Gross profit from continuing operations was HK$4,045 million, up 2.4% year-over-year; gross margin decreased to 34.6% from 36.1%.

• Cost of sales increased 9.6% to HK$7,636 million, mainly due to higher ancillary services costs.

• Other income rose to HK$255 million, while other gains and losses showed a loss of HK$99 million, mainly from asset disposal.

• Finance costs decreased 32.2% to HK$168 million due to lower borrowings and interest rates.

• Net cash inflow from operating activities was HK$2,757 million; net cash outflow from investing and financing activities totaled HK$3,164 million.

Outlook and guidance

• Global economic outlook for 2026 remains uncertain, with IMF projecting 3.3% growth.

• China’s economy expected to maintain stable growth, supporting port industry development.

• Focus remains on core business, digital transformation, automation, and green initiatives to drive quality and efficiency.