9月16日，佳兆业集团（HK01638，股价0.202港元，市值18.41亿港元，以下简称佳兆业）盘中一度涨超 30%，领跑港股内房股板块。截至16日收盘，股价涨幅为12.50%。 就在9月15日晚间，佳兆业发布重磅公告，宣布公司所有境外债务重组条件已全部达成，重组方案正式 全面生效。 《每日经济新闻》记者了解到，在业内素有"不死鸟"之称的佳兆业，自2021年底陷入流动性危机以来， 经过近4年的债务重组谈判，公司境外债务化解工作已取得显著成效。 佳兆业公告显示，公司已向合格债权人发行总额约133.72亿美元的金融工具，并计划于9月16日在新加 坡交易所挂牌。佳兆业此次债务重组，还将实现一定规模的债务削减、债务展期，并降低新票据利率。 每经记者｜陈荣浩 每经编辑｜魏文艺 尽管境外债务重组取得实质进展对佳兆业是利好消息，但公司经营压力并未出现逆转。今年上半年，佳 兆业营收下滑超过三成，股东应占溢利为亏损超百亿元。 在房地产行业深度调整的背景下，佳兆业此次能否真正摆脱危机、实现"上岸"，仍待观察。 9月16日下午，同策研究院联席院长宋红卫通过微信向《每日经济新闻》记者表示，债务重组方案对佳 兆业最大的帮助在于到20 ...

Core Viewpoint - The debt restructuring process for distressed real estate companies has entered a new phase, with significant progress observed in September 2025, indicating a more organized approach to risk mitigation in the industry [1][3][9]. Group 1: Debt Restructuring Progress - Several distressed real estate companies, including CIFI Holdings, Kaisa Group, and R&F Properties, have made key advancements in their debt restructuring efforts, showcasing a trend of accelerated progress [3][4]. - CIFI Holdings' restructuring plan, involving a total of approximately 10.06 billion yuan, was approved by bondholders on September 15, 2025, with cash repayment ratios increased to 20% and asset-backed repayment ratios raised to 40 [2][3]. - Kaisa Group's restructuring plan has officially taken effect, aiming to reduce debt by approximately 8.6 billion USD, with an average extension of five years for debt repayment [3][6]. Group 2: Industry-Wide Debt Relief - As of August 2025, 20 distressed real estate companies have received approval for their debt restructuring plans, with a total debt relief scale exceeding 1.2 trillion yuan [6][7]. - The successful debt relief efforts are expected to reduce market uncertainties, stabilize buyer expectations, and promote transaction activity, ultimately contributing to long-term market stability [4][9]. Group 3: Diverse Debt Relief Strategies - The restructuring plans of various companies indicate a preference for debt-to-equity swaps, with firms like Longfor Group and Country Garden employing this method, reflecting its effectiveness in the current market environment [5][7]. - Other strategies such as cash buybacks, debt extensions, and asset disposals are also widely utilized, showcasing a diversified approach to debt relief [5][7]. Group 4: Financial Support and Market Conditions - Financial institutions are actively supporting distressed real estate companies through various channels, including asset management firms facilitating the disposal of non-performing assets [8]. - Public REITs are emerging as a crucial tool for real estate companies to reduce leverage and transition towards lighter asset operations, fostering a positive cycle of asset revitalization and reinvestment [8]. - Recent policy adjustments, such as relaxed purchase restrictions and reduced down payment ratios, are expected to stimulate buyer interest and improve the operational conditions for real estate companies [9].

Group 1 - Kaisa Capital's stock surged over 380% during trading, indicating strong market interest [1] - The company announced a strategic transformation, leveraging shareholder resources, industry strengths, and regional advantages [1] - Kaisa Capital aims to explore digital financial innovation in a compliant regulatory environment, starting from Hong Kong [1] Group 2 - The company has partnered with a licensed virtual asset trading platform approved by the Hong Kong Securities and Futures Commission [1] - This collaboration focuses on advancing the tokenization of real-world assets (RWA) under Hong Kong's compliance framework [1] - The strategic shift is supported by the company's technological accumulation in the web 3.0 sector [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 本公告或其任何副本皆不得在美國或在發放或分派本公告可能違法的任何其 他 司 法 權 區 境 內 直 接 或 間 接 發 放 或 分 派。 本公告並不構成在美國或任何其他倘無根據當地證券法律登記或符合資格即 屬 違 法 的 司 法 權 區，要 約 提 呈 出 售 任 何 證 券 或 邀 請 作 出 購 買 任 何 證 券 的 要 約。 倘 無 登 記 或 獲 適 用 豁 免 登 記 規 定，證 券 不 得 在 美 國 提 呈 發 售 或 出 售。於 美 國 公 開 發 售 任 何 證 券 將 須 以 招 股 章 程 的 方 式 進 行，而 招 股 章 程 須 載 有 關 於 提 呈 發 售 的 公 司、管 理 層 以 及 財 務 報 表 的 詳 盡 資 料。本 公 司 無 意 在 美 國 公 開 發 售 證 券。 KAISA GROUP HOLDIN ...

每经AI快讯，9月16日，港股佳兆业集团(01638.HK)盘中涨超25%，截至发稿，涨25%，报0.2港元，成 交额732.09万港元。 ...

Group 1 - Kaisa Group's stock surged over 25%, reaching HKD 0.2 with a trading volume of HKD 7.32 million [1] - The company announced that all conditions for its offshore debt restructuring have been met, and the restructuring plan is now fully effective [1] - Kaisa Group has issued a total of approximately USD 13.37 billion in six new notes and eight mandatory convertible bonds to qualified creditors, providing options for different maturities and yields [1] Group 2 - The restructuring plan is expected to reduce the debt scale by approximately USD 8.6 billion, with an average debt maturity extension of five years [1] - Following the restructuring, the company will have no rigid repayment pressure before the end of 2027, and the new notes will have interest rates ranging from 5% to 6.25%, lower than historical debt rates [1] - This marks a significant progress in resolving years of debt risk, laying a solid foundation for the company's sustainable operation and stable development [1]

Group 1 - Kaisa Group's stock price surged over 25%, reaching HKD 0.2 with a trading volume of HKD 7.32 million [1] - The company announced that all conditions for its offshore debt restructuring have been met, and the restructuring plan is now fully effective [1] - Kaisa Group has issued a total of approximately USD 13.372 billion in six new notes and eight mandatory convertible bonds to qualified creditors, providing options for different maturities and yields [1] Group 2 - The restructuring plan is expected to reduce the debt scale by approximately USD 8.6 billion, with an average debt extension period of five years [1] - Following the restructuring, Kaisa Group will have no rigid repayment pressure before the end of 2027, and the new notes will have interest rates ranging from 5% to 6.25%, lower than historical debt rates [1] - This marks a significant progress in resolving years of debt risk, laying a solid foundation for the company's sustainable operation and stable development [1]

Group 1 - Kaisa Group's stock surged over 35% in early trading on September 16, closing with a gain of 28.75% as all conditions for the restructuring of its offshore debt have been met and the restructuring plan is now fully effective [1][2] - Other Hong Kong property stocks also experienced a strong rally in early trading, with companies such as CIFI Holdings, R&F Properties, and Yuexiu Property seeing increases [1]

每经AI快讯，9月16日，港股佳兆业集团涨近30%，境外债务重组所有条件均已获达成，重组生效日期 已落实为9月15日。 ...

Group 1 - The Hong Kong property stocks showed strong performance at the beginning of trading, with Kaisa Group rising over 30% [1] - Other companies such as CIFI Holdings, R&F Properties, and Yuexiu Property also experienced gains [1]