Longjiang Transport 2026 Interim Report: Revenue and Profit Both Decline, Deleveraging Shows Notable Results

Earnings
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Summary · why it matters

Longjiang Transport released its 2026 interim report on August 27. The company relies on expressway operations as its core business and is deepening its strategic layout of one main business with two supporting wings. However, affected by reduced sales of remaining real estate inventory and adjustments to its taxi business, both revenue and profit declined during the reporting period. Operating revenue reached 290 million yuan, down 6.87 percent year on year. Net profit attributable to the parent company was 107 million yuan, down 8.36 percent. Net profit after deducting non-recurring items was 109 million yuan, down 9.56 percent. Net cash flow from operating activities turned sharply positive to 14.91 million yuan, compared with a net outflow of 223 million yuan in the same period last year. The debt-to-asset ratio at the end of the period fell to 10.16 percent, and monetary funds increased to 999 million yuan, showing notable deleveraging results. The company's businesses cover expressway toll collection, taxi operations, bulk commodity trading, real estate development, and clean energy and graphite new materials segments. Among them, Xintong Real Estate recorded a year-on-year revenue decline of 19.67 million yuan because it sold villas in the same period last year but had no such high-priced products in the current period, making it the main factor dragging down overall revenue. Revenue from photovoltaic power generation settlement increased by 3.26 million yuan, and power generation volume reached 123.27 percent of the plan. The company faces risks including the expiration of the operating rights for the Harbin-Daqing Expressway in 2029, difficulties in contracting out taxis, and uncertainty in returns from new industrial investments.

Impact on stocks 1

Others▼ · 1 stocks
Heilongjiang Transport Development Co Ltd
601188
▼ NegativeCapitalrelevance

2026 interim report shows revenue down 6.87% and net profit down 8.36% year on year, with real estate inventory sales and taxi business adjustments dragging results.

Off-coverage companies 1

信通地产Private▼ Negative
Demandrelevance

Xintong Real Estate revenue fell 19.67 million yuan year on year as it sold villas in the prior-year period but had no such high-priced products in the current period.

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