HK Stock Market Move | SINO-OCEAN SERV (06677) rises over 5%, with third-party revenue accounting for 93.5% in the first half, as the company's external expansion quality also improves.

SINO-OCEAN SERV (06677) rose over 5%, up 5.36% as of press time, at HK$0.295. On the news front, SINO-OCEAN SERV recently released its 2026 interim results. In the first half of 2026, SINO-OCEAN SERV achieved operating revenue of RMB 1.29 billion, with third-party revenue accounting for 93.5%, further consolidating its business independence. Non-cyclical revenue accounted for 77.7%, significantly enhancing revenue stability. Gross profit margin rose 3.8 percentage points year-on-year to 15.5%, and core net profit margin attributable to shareholders was 6.3%. Cash on hand was RMB 640 million, and net operating cash flow was RMB 240 million. Under the strategic adjustment of proactively divesting non-core and low-efficiency businesses, the company has focused on the four major strategic directions of "key cities, key projects, key products, and key teams," with revenue quality and profitability continuing to improve. It is worth noting that the company persists in prioritizing expansion in key cities and high-quality projects. In the first half of the year, newly added single-year contract value amounted to RMB 130 million, up 76% year-on-year; 50 new projects were added, covering 22 cities, of which 68% are located in key cities, with 25 new customers added. Reserved projects from state-owned and central enterprise clients and government procurement clients accounted for over 50%, with strong client performance capability, stable cash flow, and prospects for continuous development. The company strengthened non-residential core business formats such as hospitals, office buildings, and schools, achieving landmark breakthroughs during the period, with its service capabilities in non-residential formats widely recognized by the market.