Liaoning Port reported net profit attributable to shareholders of RMB 0.88 billion for the six months ended 30 June 2026, down 7.4% year-on-year. Basic earnings per share slipped to RMB 0.0375, compared with RMB 0.0400 a year earlier.

Revenue fell 6.0% to RMB 5.35 billion, weighed by weaker performance in the Oil and Bulk Grain segments, partially offset by growth in containers and bulk/general cargo. Group gross profit declined 9.3% to RMB 1.63 billion, and gross margin narrowed to 30.4% from 31.5%.

• Oil/Liquefied Chemicals: Revenue contracted 41.9% to RMB 0.64 billion; gross margin slid to 23.0% as crude throughput dropped 26.4% amid high international oil prices and refinery cutbacks. • Containers: Revenue rose 3.7% to RMB 1.84 billion and gross margin improved 8.4 percentage points to 42.3%, supported by a 5.2% increase in container volume to 5.76 million TEUs. • Bulk & General Cargo: Revenue grew 8.0% to RMB 1.86 billion; gross margin expanded to 26.9% as steel exports and trading ore volumes climbed. • Bulk Grain: Revenue fell 18.9% to RMB 0.34 billion with corn throughput down 37.8% following rail rate cuts and weaker southbound demand. • Passenger & Ro-Ro: Revenue declined 17.6% to RMB 0.07 billion amid capacity reductions and route competition. • Value-Added Services: Revenue edged up 2.8% to RMB 0.49 billion; gross margin improved to 38.9%.

Administrative expenses increased 9.3% to RMB 0.36 billion due to higher labour costs, while financial expenses fell 21.6% to RMB 0.16 billion on lower interest-bearing debt. Net credit impairment reversals totaled RMB 0.12 billion following recovery of long-outstanding receivables.

Total assets stood at RMB 57.39 billion; total liabilities were RMB 13.29 billion, giving a gearing ratio of 23.2%, down 0.3 percentage point from year-end 2025. Cash and cash equivalents rose to RMB 8.72 billion, underpinning a net debt-to-equity ratio of 2.9%. Unused bank credit lines totaled RMB 18.59 billion.

Capital expenditure reached RMB 0.14 billion, funded mainly through internal cash flow. No interim dividend was proposed.

Management expects near-term headwinds in oil logistics to persist but foresees stable demand in containers, foreign-trade steel, and trading ore. The Group plans route expansion, service upgrades, and continued cost control, while maintaining “sound” financing capacity with an AAA domestic credit rating.