Sino-Ocean converts bonds: what it means for Sino-Ocean stock

Published on 10/07/2026 at 05:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue reached RMB 6.60 billion in the first half of 2026. For Sino-Ocean stock, this means a RMB 7.15 billion loss versus RMB 10.20 billion profit.

Sino-Ocean, HK3377040226, Illustration mit AI erstellt.

Sino-Ocean Group Holding Limited issued 296,089 new ordinary shares in September after holders exercised conversion rights on Series B and Series C mandatory convertible bonds. Futubull reported the filing on October 2, 2026, making the bond conversion the latest dated corporate action for Sino-Ocean stock.

Bond conversion adds a debt signal

The issued share count increased from 12,668,321,134 to 12,668,617,223 during September. Series B conversions produced 205,926 shares at a conversion price of HKD 5.74, while Series C conversions produced 90,163 shares at HKD 17.26, according to Futubull.

The conversion reduced the outstanding principal of Series B bonds from USD 351.2 million to USD 351.1 million and Series C bonds from USD 214.5 million to USD 214.3 million. The filing also stated that the company maintained a public float threshold of 25 percent.

First-half loss outweighs revenue growth

Sino-Ocean reported revenue of RMB 6.60 billion for the six months ended June 30, 2026, up 6.00 percent from the first half of 2025. Gross profit reached RMB 15.0 million, compared with a gross loss of RMB 4.97 billion in the prior-year period, according to Futubull.

The sharper issue was the bottom line. Sino-Ocean recorded a RMB 7.15 billion loss attributable to equity holders, compared with a RMB 10.20 billion profit in the first half of 2025. Contracted sales fell 39.00 percent to RMB 8.14 billion, while delivered saleable floor area increased 52.00 percent to 516,000 square meters.

What the conversion means for debt

The interim report described a debt restructuring effort alongside a cash tender offer for RMB 17.8 billion of onshore credit debt. It also cited current liabilities exceeding current assets, loan defaults, litigation and continuing-operation uncertainty as material risks.

On HKEX, 3377.HK stood at HKD 0.03 at 11:19 a.m. HKT on October 7, 2026. Its 52-week range was HKD 0.03 to HKD 0.15, placing the quote at the lower boundary of that interval. The further course of trading is shown by the continuously updated real-time quote of Sino-Ocean stock.