Although the bonus period of the real estate industry has passed，But 188bet best bookmaker is still on the road to continuous development。August 22，188bet best bookmaker China (01918.HK) discloses 2019 semi-annual report，Data display:

First half 188bet best bookmaker year，The company achieved operating income of 768.400 million yuan，64 year-on-year increase.9%；Net profit attributable to parent company 102.900 million yuan，61 year-on-year increase.7%；Book cash 138 billion yuan，14 more than the end of last year.8%。

In this year’s capital market, which is slightly sluggish，The results delivered by 188bet best bookmaker are “pretty good”。

Let’s talk about performance first

“Steady and high-speed” seems to be the main rhythm of 188bet best bookmaker performance development at present。

Except for the above operating income and net profit attributable to the parent，Based on the increase in gross profit margin from 2016 to 2018，188bet best bookmaker gross profit margin in the first half of 2019 also further increased to 25.2%，Increased by 0 year-on-year.5 percentage points。

The growth in sales is also one of the highlights of this semi-annual report。First half of 2019，188bet best bookmaker continues to accelerate turnover and resolutely eliminates，Delivered area maintains steady growth，Achieved contract amount 2141.600 million yuan，11 year-on-year increase.8%，Ranked among the top five in the industry in terms of sales。2014-2018，188bet best bookmaker China’s sales gross profit margin has increased steadily，Increased by 0 year-on-year in 2019H1.44 percentage points to 25.19%。

On the basis of the credit rating just raised in 2018，Three international rating agencies also upgraded 188bet best bookmaker rating again——

Moody's raised the company's main rating 188bet best bookmaker B1 to Ba3，Stable outlook；S&P raised the company's main rating 188bet best bookmaker B+ to BB-，Stable outlook；Fitch raised the company's main rating 188bet best bookmaker BB- to BB，Stable outlook。

August 16，188bet best bookmaker was even announced to be included in the Hang Seng China Enterprises Index。The good development trend has also been recognized by the market and investors - 188bet best bookmaker has increased by more than 40% during the year。

This is a footnote to Sun Hongbin’s suggestion last year that “buying and selling is not as good as buying stocks”。

"A lot of cash"

“138 billion yuan.”

This is as of the end of June 2019，188bet best bookmaker book cash。The number has increased by 14 compared to the end of 2018.8%。Compare to，188bet best bookmaker rigidly due interest-bearing liabilities are only about 44.2 billion yuan。This means that 188bet best bookmaker book cash covers rigidly due interest-bearing liabilities in the second half of the year exceeding 3.1x，Have sufficient confidence to ensure sufficient liquidity。

Meanwhile，Songchuang’s salable resources exceeded 570 billion yuan in the first half 188bet best bookmaker year，It will also contribute a lot of cash flow。

As of June 30, 2019，188bet best bookmaker Real Estate’s property development business has basically completed all front lines in China、National layout in second- and third-tier cities。And in the second half of 2019，188bet best bookmaker expects to have more than 420 projects for sale，Cumulative salable resources exceed 570 billion yuan。With the arrival of the peak sales period in the second half of the year，It is not difficult to imagine how much operating cash flow these salable resources will contribute to 188bet best bookmaker。

Another reason for safe cash flow，From 188bet best bookmaker always determined “deleveraging”。

First，Quality and quantity of land bank，Provides strong support to the decline of 188bet best bookmaker leverage ratio。As of the interim report disclosure date，More than 83% of land reserves with a value of goods are located in first- and second-tier cities，The average land cost is about 4307 yuan/square meter。This is 188bet best bookmaker subsequent rapid sales、Important support for releasing operating cash flow and profits，And provides a strong guarantee for Sunac to maintain sufficient liquidity and the continued decline of leverage ratio。

Secondly，Slow down the growth rate of land reserves，Accelerate sales，Also promoted the long-term decline of 188bet best bookmaker leverage ratio。Since 2017，Sunac proactively adapts to changes in market regulation，The growth rate of land bank is significantly lower than before，While driving sales to maintain rapid growth，Enable rapid accumulation of operating cash flow，Net assets continue to increase，And reduce dependence on debt for new land investment。First half of 2019，Sunac only prudently replenished reasonably priced land in core cities when the land market experienced short-term lows，And starting from May, when the land market in most cities returns to a high level，Basically stopped bidding, auctioning and listing to acquire land，Only grasped a few particularly high-quality land opportunities through acquisition，Effectively avoid the risk of taking your land。

In non-real estate business investment，188bet best bookmaker seems quite cautious，Focus on how to improve the operation and profitability of existing assets。188bet best bookmaker Cultural Tourism will continue to adjust and optimize cultural tourism products，188bet best bookmaker Culture promotes the business recovery of Lerong Zhixin and Lechuang Entertainment，Creating 188bet best bookmaker Film and Television’s high-quality content brand，Establishing a full industry chain operation system for IP。

Still deeply engaged in the main business

As market sentiment becomes increasingly stable，Competition in the real estate industry has gradually returned to its origins 188bet best bookmaker the scale competition in the past，Product competitiveness has been raised to a new level。

Under the background of this industry，188bet best bookmaker has always emphasized the “high-end quality” strategy，It is matching the demands of the population in first- and second-tier cities seeking residential improvement and upgrading。

Behind the Strategy，It is the continuous implementation of high-end product lines and the continuous maturation of Chinese-style products。

Currently，188bet best bookmaker has successfully created a number of product lines with industry influence，Ru No. 1 Department、Peach Blossom Spring Series、Fu system, Taoyuan system, etc.。At the same time，188bet best bookmaker also continues to learn from Chinese culture、Get inspiration and resources from Chinese architecture，Gradually formed its own unique Chinese product pedigree - Peach Blossom Spring Series、Yihe Department、Yasong series、Landscape System、Jiufu Department、Chen departments...they show the most beautiful aspects of Chinese culture，Represents styles of different eras、Characteristics of different regions。

At the R&D team level，188bet best bookmaker now owns Chongqing、Two major product R&D bases in Shanghai，Including a team of more than 500 designers and more than 200 intangible cultural heritage craftsmen，Continuously strengthening system capabilities specifically for the creation of Chinese products。

Cultural 188bet best bookmaker assets enter the "result period"

188bet best bookmaker original cultural and tourism business performance is still improving——

First half of 2019，On cultural tourism products，188bet best bookmaker operating efficiency and profitability have improved significantly。Among them，The unit price of each park increased by 27% year-on-year。In addition，Customer price for each business type，Theme park increased by 44% year-on-year，Water World grew 31% year-on-year，Sea World grew by 27% year-on-year，Snow World increased by 20% year-on-year。

Channel customer unit price is medium，OTA increased by 53% year-on-year，Travel agencies increased by 29% year-on-year。Banna Dai show is independently performed by 188bet best bookmaker Performing Arts Team，Revision and upgrade，Income increased by 40% year-on-year，Passenger traffic increased by 21% year-on-year。The outdoor park of Nanchang Paradise was changed to an open park operation，Exploring new profit models，Income from April to July increased by 89% year-on-year，Achieved considerable results。

Guangzhou、Wuxi’s flagship cultural and 188bet best bookmaker cities have opened one after another，All business types are booming beyond expectations。

In business、Hotel、Among the three core business formats of the park，Guangzhou、Wuxi 188bet best bookmaker Mao’s opening occupancy rate reached 100%，Guangzhou 188bet best bookmaker Cultural Tourism City 188bet best bookmaker Mao reached 300,000 passengers on the first day，Exceeds all recent similar products；Wuxi 188bet best bookmaker Cultural Tourism City 188bet best bookmaker Hotel Group’s first weekend check-in rate reaches 85%，The occupancy rate on subsequent weekends often reaches 100%；Snow World has already accumulated about 150,000 passengers in only seven weeks since its opening，Cumulative income exceeds 49 million yuan，Operating profit exceeds 30 million yuan。

Good data，It seems to indicate that 188bet best bookmaker has a relatively complete cultural tourism system capability。188bet best bookmaker Cultural Tourism Group was established in early 2018，Already formed from design、Complete cultural tourism system architecture from construction to operation。

How to rely on this system architecture，Enhance the industry competitiveness and brand influence of the cultural tourism sector？This question，Waiting for the answer from 188bet best bookmaker。

It depends on its determination whether it can continue to win consumers.

*Source of this article: WeiboLetter to the public account “Huxiu APP” (ID: huxiu_com)，Author: Qian Dehu，Original title: "With 138 billion cash in hand, what is 188bet best bookmaker next step?》.