SINO-OCEAN SERV (06677) reported a 23% year-on-year increase in gross profit for the first half of the year, reaching approximately 200 million yuan, with the gross profit margin rising to about 16%.

SINO-OCEAN SERV (06677) announced its interim results for 2026, with revenue of approximately 1.291 billion yuan, a 23% year-on-year increase in gross profit to around 200 million yuan, and a gross profit margin increase to approximately 16%. The loss attributable to equity holders narrowed significantly by 79% to 65.6 million yuan, while the core net profit attributable to equity holders was 81.4 million yuan. As of June 30, 2026, the group managed a total construction area of 84.5 million square meters. During the period, the group adjusted its external expansion strategy from a "scale-oriented" approach to a "quality-oriented" approach, adding 50 new external projects with a new annual contract value of 130 million yuan, representing a year-on-year increase of 76%. Additionally, the company expanded its cooperation with 25 new clients, with third-party managed area accounting for 76%, further consolidating its independent external expansion capabilities. The project acquisition covered 22 cities, including two newly entered cities, with market reach continuously enhanced. In terms of execution, external expansion resources further concentrated on core cities, with new signed projects in core cities accounting for 92%, significantly improving the density of regional layout and synergy effects. In terms of business structure, while consolidating traditional advantageous areas, the company achieved significant breakthroughs in high-value formats such as hospitals, commercial offices, and schools, continuously broadening its service boundaries and optimizing the anti-cyclical capabilities and profit quality of its business portfolio.