Sino-Oce Surge suppressors an Land realizes 63% of annual contracted sales target

Sino-Oce Surge suppressors an Land realizes 63% of annual contracted sales target
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Sino-Ocean Land realizes 63% of annual contracted sales targetPublished: 17 May 2009 23:55:02 PST

May 18, 2009 (China Knowledge) - Sino-Ocean Land Holdings Ltd<3377> had generated RMB 5 billion in contracted sales revenue as of May 15, accounting for 63% of the annual goal of RMB 8 billion, according to Li Ming, president.

Li added that the firm has RMB 10 billion in available currency and that its debt/ratio is currently 0.38. The real estate enterprise is seeking property to purchase and will earn more profits in the latter half of this year.

The property projects of the Hong Kong-listed company are principally located in Beijing, Tianjin, Dalian, Shenyang, Hangzhou and Zhongshan.

As of the end of last year, Sino-Ocean Land had land reserves of up to 12.28 million sq m, of which land in Beijing accounted for 24% and land in Bohai Bay Economic Rim, an economic hinterland of Beijing, Tianjin and Shijiazhuang, accounted for 76%.

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