In the first half of 2019, the sales of Ocean Group continued to rise.

Editor’s note: This article is from: China Net Real Estate, edit: Tao Ting, authorized to reprint

On August 21, the COSCO Group Interim Results Report was released. After entering the 100 billion camp, in the first half of 2019, the sales of Ocean Group continued to rise, exceeding 60 billion yuan, up about 33% over the same period last year. In addition, in the second half of the year, Ocean Group’s saleable resources amounted to 160 billion yuan.

High sales return rate and improved performance ranking

In the first half of the year, the Group’s full-caliber sales list of the company has increased from 26 at the end of last year to 23 in the first half of this year. In addition, in the ranking of Kerry’s equity, Ocean Group ranked 26th with 42 billion yuan.

According to the semi-annual report, COSCO Group and its joint ventures and associated companies achieved a total agreement sales of approximately 60.08 billion yuan, an increase of approximately 33% over the same period of last year; sales return of 35.7 billion yuan, the rate of return in the first half of the year was 68% It was basically flat year-on-year; the cumulative sales area reached 2.85 million square meters, an increase of 24% year-on-year. Among them, Ocean’s base camp Beijing sales contribution accounted for 19.8% of total sales, Tianjin accounted for 7.7%.

The commercial real estate project under construction has a total construction area of ​​about 1.6 million square meters. The development format is mainly office buildings and retail properties. Among them, Beijing and Shanghai projects account for 76%. Commercial real estate projects under construction will be put into operation from 2020 to 2024.

Low financing costs Channel diversification

Under the continuous tightening of the financing environment, Ocean Group has an approved amount of approximately 213.6 billion yuan, and the financing cost is controlled at 5.43%. The financing cost in the industry is more advantageous.

At the same time, COSCO has diversified financing channels. In the first half of the year, Ocean Group seized the financing window and successfully issued corporate bonds totaling RMB 2.9 billion in March. The 5-year and 7-year interest rates were 4.06% and 4.59% respectively.

In addition, the Ocean Group also issued a total of US$600 million 10-year offshore high-end US dollar bonds with a coupon rate of 4.75%, successfully locking in ultra-long-term low-cost funds, and has completed less than 10 years in recent years. Mainland real estate companies that issue US dollar bonds.

In addition, the semi-annual report also showed that COSCO Group’s cash resources were 31.923 billion yuan, and the short-term borrowings of cash were 2.82 times, maintaining financial stability. The Board of Directors recommended an interim dividend of HK$0.110 per share in cash and a dividend payout ratio of 40%.

After the second half of the year, the resources available for sale are mainly residential.

According to the semi-annual report, the Ocean Group CampThe business is mainly derived from property development, property investment, property management and other real estate businesses. Among them, the property development business maintained the largest contribution, and its turnover accounted for 77% of the total turnover of Ocean Group.

As of the first half of this year, COSCO Group has a total of 47 cities in the five major urban agglomerations and core second-tier cities, with a total land bank of over 53.3 million square meters, including a secondary development land reserve of over 39.25 million square meters and an old exchange of 4.01 million in Shenzhen. Square meters, the first level development of 10.4 million square meters.

It can be seen from the urban distribution of the land bank that the ocean reserves of the Ocean Group in the Yangtze River Delta, the Pearl River Delta, the middle reaches of the Yangtze River and the Chengdu-Chongqing region have maintained a high compound growth rate in the past three years. From the perspective of regional sales contribution in the first half of this year, Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta, the middle reaches of the Yangtze River and Chengyu contributed 33%, 25%, 22% and 13% respectively, and more than 90% of the agreed sales came from the five major urban agglomerations. .

Ocean Group plans to launch a number of projects in the second half of the year. It is expected that the saleable resources will reach 160 billion yuan, a year-on-year increase of 23%. According to the new and old resources, the newly added resources accounted for 76%, the inventory resources accounted for 24%, and the fast-moving marketable products were the main products, and the residential category accounted for 86%.