Rizhao Port Jurong sees profit decline significantly in first half 2025

Rizhao Port Jurong Co., Ltd. announced its unaudited interim results for the six months ended 30 June 2025, revealing a significant downturn in financial performance. Operating revenue decreased by RMB119.469 million, or 28.2%, to RMB304.771 million compared to RMB424.240 million in the same period of 2024. This was primarily due to a RMB123.858 million decrease in revenue from contracts with customers, stemming from a 31.44% year-on-year reduction in stevedoring service revenue and a decline in storage service, largely affected by lower grain cargo volumes and adjusted demand from foreign trade customers.

Consequently, gross profit fell by RMB51.479 million, or 29.1%, to RMB125.456 million. Profit before income tax decreased by RMB47.736 million, or 30.3%, to RMB109.619 million. Net profit for the period was RMB82.789 million, a decrease of RMB37.721 million or 31.3% from RMB120.510 million in the first half of 2024. Despite the decline, the company reported an increase in other income, net, by RMB2.339 million to RMB4.798 million, partly due to a gain on early lease terminations and government grants.

Diluted earnings per share were RMB4.99 cents, down from RMB7.26 cents in the prior year. No interim dividend was recommended for the six months ended 30 June 2025.