Tianjin Jinran Public Utilities Company Limited (abbreviation: Tianjin Jinran) reported a turnaround for the six months ended 30 June 2026, moving to a net profit of RMB2.49 million from a RMB28.65 million loss a year earlier.

Revenue rose 20.69% year on year to RMB994.66 million, driven mainly by a rebound in industrial and commercial gas demand. Piped-gas sales contributed RMB974.89 million, or 98% of total revenue, while gas-connection fees and sales of gas appliances accounted for RMB13.77 million and RMB1.02 million, respectively. Rental income added RMB3.61 million.

Cost of sales increased 15.8% to RMB980.62 million, resulting in a slim gross margin of 1.4%. Administrative expenses rose to RMB13.80 million, and credit-impairment losses widened to RMB1.34 million. Finance income remained positive, with net finance income of RMB4.80 million, supported by RMB4.92 million in interest income.

Operating profit reached RMB5.42 million, versus a RMB28.25 million operating loss in the prior-year period. Deferred tax expense of RMB2.93 million reduced bottom-line earnings. Basic and diluted earnings per share were RMB0.001, compared with a RMB0.016 loss per share in 1H 2025. The board did not declare an interim dividend.

Cash and bank balances stood at RMB445.44 million, down from RMB519.06 million at year-end 2025, while net current assets edged up to RMB434.81 million. The balance sheet remained debt-free, and the total liabilities-to-assets ratio improved to 30% from 34%.

Total assets amounted to RMB1.91 billion, with fixed assets representing RMB682.23 million after depreciation and impairment. Trade receivables dropped to RMB259.17 million, aided by collections and tighter credit control, and the allowance for doubtful accounts increased to RMB15.17 million. Contract liabilities, reflecting advance payments from customers, declined to RMB213.36 million.

Management attributed the earnings recovery to higher gas consumption by major users and ongoing cost-containment measures under its lean-management programme. The company continues to focus on expanding the industrial and commercial customer base, pursuing integrated energy projects and advancing digital transformation initiatives.

The board reiterated its commitment to maintain prudent liquidity management and indicated no material capital commitments, borrowings or pledged assets as at the end of the reporting period.