The Zhitong Finance App learned that Ocean Service (06677) is now up nearly 6%. As of press release, it has risen 5.88% to HK$0.54, with a turnover of HK$1.163,600.

According to the news, Ocean Service previously announced its annual results. Revenue from non-cyclical property management services and commercial operation services reached $2.21 billion, up 12.4% year-on-year, to 70.4%, accounting for 17.4% of revenue from community value-added services, and 12.2% of revenue from value-added services for non-owners. The gross profit margin was 19.1%, and the adjusted core net profit was $301 million. According to the announcement, both the contract and the area under management remained above 100 million, with a total contract construction area of 136 million square meters and an area under management of 101 million square meters.

Everbright Securities previously stated that with the successive implementation of supply-side real estate policies, the implementation of the urban real estate financing coordination mechanism has been accelerated. Subsequent real estate projects under COSCO Group are expected to be gradually delivered, and COSCO Services will continue to receive high-quality property management projects from related parties. In terms of external development, third parties accounted for about 91% of the 2023H1 company's new contract area. It is actively expanding externally, and its ability to develop independently has improved. Furthermore, old-age services are expected to gradually become an important development driver for the value-added sector of the community.