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Sino-Ocean Logs 1.63 Billion Yuan in April Contracted Sales

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Sino-Ocean (HKG:3377) recorded contracted sales of around 1.63 billion yuan in April, with a gross floor area (GFA) of 116,200 square meters, according to a Thursday Hong Kong bourse filing.

The property firm's shares gained over 1% in late morning trade Friday.

The property firm's average selling price stood at approximately 14,000 yuan per square meter for the month.

For the first four months of the year, contracted sales and GFA reached roughly 4.67 billion yuan and 328,200 square meters, respectively, with an average selling price of 14,200 yuan per square meter.

Meanwhile, the firm said it was in talks with creditors to settle amounts overdue by its unit Sino-Ocean Holding Group (China).

The firm had 17.37 billion yuan in overdue outstanding borrowings as of April 30.

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