Ningbo Zhoushan Port (601018) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 16.87 billion, up 12.76% year-over-year; net profit attributable to shareholders was RMB 2.54 billion, down 2.12% year-over-year.

• Container throughput grew 8.7% year-over-year to 27.69 million TEU; total cargo throughput rose 1.0% to 607 million tons.

• Dividend proposal: RMB 0.31 per 10 shares, totaling RMB 603 million.

Financial highlights

• Operating income: RMB 16.87 billion (+12.76% YoY); operating cost: RMB 12.11 billion (+15.54% YoY).

• Total assets: RMB 124.35 billion (+0.75% from year-end 2025); net assets attributable to shareholders: RMB 81.63 billion (+1.09%).

• Operating cash flow: RMB 1.82 billion (-81.02% YoY); basic and diluted EPS: RMB 0.13.

• Adjusted net profit (excluding non-recurring items): RMB 2.36 billion (+2.53% YoY).

• Non-recurring gains: RMB 179 million, mainly from asset disposals and government grants.

Outlook and guidance

• Management expects continued growth in container and logistics business, with focus on digital and green transformation.

• Risks highlighted include macroeconomic volatility, structural overcapacity in ports, and shipping cycle fluctuations.