News summary
Ocean Services (06677) shares surged 11% to 0mpresshitbox.55 Hong Kong dollars, with a turnover of 1.14 million Hong Kong dollars. The 2023 financial report shows that operating income is 3.133 billion yuan, gross profit margin is 19.1%, and core net profit is 301 million yuan. Everbright Securities is optimistic about the property industry and believes that its business model is excellent and has steady growth potential.
Newsletter text
[COSCO Services (06677)'s share price jumped, and the proportion of community value-added business gross profit increased to 23.2% in the first half of the year] COSCO Services (06677)'s share price showed strong momentum today, with the highest increase of more than 11%. As of the close, the increase was 5.77%. The share price was reported at HK$0.55, and the turnover reached HK$1.14 million. According to the 2023 financial report, the operating income of ocean services reached 3.133 billion yuan, and the contract and area under management both exceeded 100 million yuan. Gross profit margin was 19.1%, adjustedmpresshitboxIts core net profit reached 301 million yuan. Based on four major business directions: community life services, rental and sales services, Mercure services, and space resources, the company has optimized community value-added services and improved the refinement of service products. Especially in the first half of 2023, the proportion of gross profit of community value-added services has increased to 23.2%, and elderly care services are expected to become an important growth driver for the community value-added sector. Everbright Securities recently pointed out that with policy support, the property industry, as a grassroots pillar of community governance, has solid fundamentals and abundant cash flow. The dividend ratio showed a steady growth trend. In the short term, as the Federal Reserve's interest rate hike cycle ends and real estate policy support strengthens, factors affecting the valuation of property companies will ease, and the business impact related to real estate will gradually fade. In the long run, property companies, relying on their high-quality business models, can maintain stability during the economic cycle and focus on investment in high-quality existing assets in an environment where growth centers decline to obtain sustained and stable investment returns.
