BY GABRIELLE

OCT, Overseas Chinese Town Enterprises, has disclosed its 2019 half-annual report. The report reveals that in the first half of 2019, the enterprise’s operating income reached 17.7 billion yuan, up 20% year-on-year.

The report also showed that the net income in the same period was up 23% year-on-year to 2.8 billion yuan and that the net profit attributable to shareholders of listed companies had risen 40% year-on-year to 4.1 billion yuan.

OCT’s total assets reached 334.6 billion yuan, a 14% increase from the start of the year. At the end of the first half of 2019, the asset liability of ratio was 76.7%, a 2.93% increase from the end of 2018.

During the first half of 2019, OCT had 18 projects in operation, equating to a total investment amount of 18.14 billion yuan. The organisation’s new equity construction project comprising of 4,367,800 square metres, soared by a huge 90% year-on-tear.

OCT’s new land reserve projects were predominantly focused on first and second tier cities. The projects are designed to improve the strategic layout in Shenzhen, Xi’an, Wuxi, Nanjing, Wuhan, Jinan, Chengdu, Zhengzhou and other cities.

In relation to tourism, during the first half of the year, OCT worked on a total of 19 scenic locations, focused on leisure tourism resorts, independently operated performing arts projects, 24 hotels and a travel agency.

In the first half of the year, the company attracted 17.82 million visitors to its sites.