10月14日，融创中国控股有限公司发布公告，在当日举行的境外债重组计划会议中，合计共有1492名债 权人投票，其中1469名债权人投票赞成重组计划，赞成票人数占比达98.5%，对应债务金额支持率 94.5%。至此，融创境外债重组方案已赢得所需大多数计划债权人批准。鉴于本次表决结果远超75%金 额门槛，已满足法院批准的核心要求，方案随之将迎来法院批准流程。公告明确，香港高等法院将于11 月5日举行聆讯，对其重组方案作出最终裁决。 ...

新京报贝壳财经讯(记者徐倩)10月14日晚间，融创中国发布公告，在当日举行的境外债重组计划会议 中，合计共有1492名债权人投票，其中1469名债权人投票赞成重组计划，赞成票人数占比达98.5%，对 应债务金额支持率94.5%。至此，融创境外债重组方案已赢得所需大多数计划债权人批准。 鉴于本次表决结果远超75%金额门槛，已满足法院批准的核心要求，方案随之将迎来法院批准流程。公 告明确，香港高等法院将于11月5日举行聆讯，对其重组方案作出最终裁决。未来，伴随重组方案最终 落地，融创将成为首家境外债基本清"零"的大型房企。 ...

Core Points - Sunac China has announced the latest progress on its offshore debt restructuring plan, with 1,492 creditors voting, of which 1,469 (98.5%) approved the plan, representing a debt amount support rate of 94.5% [1] - The voting results exceed the required 75% threshold, allowing the plan to proceed to court approval, with a hearing scheduled for November 5 in the Hong Kong High Court [1] - The restructuring plan involves a total of approximately $9.55 billion in offshore debt, with creditors receiving two series of new mandatory convertible bonds, with conversion prices set at HKD 6.8 and HKD 3.85 per share [1] Debt Structure and Employee Compensation - For every $100 of new mandatory convertible bonds received, $23 will be allocated to a designated restricted account, with limited rights for major shareholders regarding the restricted shares for six years [2] - The company plans to issue shares to key employees contributing to core operations, with an estimated scale not exceeding 7% of the total shares, targeting around 500 employees [2] Ongoing Communication - Sunac China will continue to communicate with creditors to reach a final restructuring agreement [3]

Group 1 - The Tianjin government has announced a policy allowing homeowners to withdraw housing provident fund for the installation of elevators in existing residential buildings and for the renovation of old elevators [1] - Homeowners and their immediate family members can apply for the withdrawal after the completion of the elevator installation or renovation, within two years [1] - The total amount withdrawn cannot exceed the homeowner's direct investment in the elevator installation or renovation [1] Group 2 - China Metallurgical Group Corporation (China MCC) reported a new contract amount of 760.67 billion yuan for the first nine months of 2023, a decrease of 14.7% year-on-year [2] - The overseas contract amount reached 66.9 billion yuan, showing a year-on-year increase of 10.1% [2] Group 3 - China Overseas Land and Investment Limited (COLI) disclosed a contract sales amount of 1.08 billion yuan for September 2023, representing a year-on-year decrease of 59% but a month-on-month increase of 9% [3] - The contract sales area was 79,000 square meters, down 67% year-on-year but up 9% month-on-month [3] Group 4 - China Resources Land reported a total contract sales amount of approximately 17.6 billion yuan for September 2023, with a year-on-year increase of 4.2% [4] - The total contract sales area was about 610,000 square meters, reflecting a year-on-year decrease of 30.2% [4] Group 5 - Sunac China announced that its offshore debt restructuring plan was approved by a majority of creditors, with 98.5% of the 1,492 voting creditors in favor [5] - The company will seek court approval for the restructuring plan, with a hearing scheduled for November 5 [5]

融创中国(01918)高开近4%，截至发稿，涨3.87%，报1.61港元，成交额724.02万港元。 消息面上，10月14日，融创中国公布境外债务重组进展。计划会议已于10月14日举行，出席并投票的计 划债权人中，合共1,469名持有约79.6亿美元投票计划债权的计划债权人投票赞成该计划，即约98.5%(按 人数计)出席计划会议并投票的计划债权人投票赞成该计划(佔投票计划债权总额的约94.5%)。 公司将寻求法院对该计划的批准及裁决。寻求裁决呈请将于11月5日聆讯。 ...

智通财经APP获悉，融创中国(01918)高开近4%，截至发稿，涨3.87%，报1.61港元，成交额724.02万港 元。 消息面上，10月14日，融创中国公布境外债务重组进展。计划会议已于10月14日举行，出席并投票的计 划债权人中，合共1,469名持有约79.6亿美元投票计划债权的计划债权人投票赞成该计划，即约98.5%(按 人数计)出席计划会议并投票的计划债权人投票赞成该计划(佔投票计划债权总额的约94.5%)。 公司将寻求法院对该计划的批准及裁决。寻求裁决呈请将于11月5日聆讯。 ...

Core Viewpoint - Sunac China Holdings Limited has successfully gained approval for its offshore debt restructuring plan, with 98.5% of voting creditors in favor, which meets the court's requirements for approval [1][3]. Group 1: Debt Restructuring Progress - A total of 1,492 creditors participated in the vote, with 1,469 supporting the restructuring plan, representing a support rate of 94.5% in terms of debt amount [1]. - The Hong Kong High Court is scheduled to hold a hearing on November 5 to make a final ruling on the restructuring plan [1]. - If the offshore debt restructuring is successful, combined with previous domestic debt restructuring, Sunac's overall debt repayment pressure is expected to decrease by nearly 70 billion yuan, saving tens of millions in annual interest expenses [1][3]. Group 2: Previous Restructuring Efforts - Sunac completed a 16 billion yuan domestic debt extension in January 2023 and a $10 billion offshore debt restructuring in November 2023 [3]. - Due to underperformance and creditor petitions for liquidation, Sunac initiated a second round of debt restructuring, with the domestic debt restructuring completed in January this year [3]. - In March 2023, Sunac announced plans for a second offshore debt restructuring, targeting a total of approximately $9.55 billion in offshore debt [3]. Group 3: New Financial Instruments - The restructuring plan includes the issuance of two types of new mandatory convertible bonds (MCB) to creditors, with one type convertible at a price of HKD 6.80 per share and the other at HKD 3.85 per share, with a total amount not exceeding 25% of the total debt [3]. Group 4: Shareholder Stability Plan - Sunac has introduced a "shareholder structure stabilization plan," providing major shareholder Sun Hongbin with restricted shares that come with specific conditions, ensuring that the major shareholder's equity ratio remains stable and preventing excessive dilution [4].

Core Viewpoint - Sunac China has received overwhelming support for its offshore debt restructuring plan, with 98.5% of creditors voting in favor, which corresponds to a debt amount support rate of 94.5% [3][4]. Group 1: Debt Restructuring Details - A total of 1,492 creditors participated in the vote, with 1,469 approving the restructuring plan [3]. - The restructuring plan involves a total offshore debt of approximately $9.55 billion, with a "full debt-to-equity swap" strategy covering various types of debts [3][4]. - The plan includes the issuance of two series of new Mandatory Convertible Bonds (MCB) to creditors, with conversion prices set at HKD 6.80 and HKD 3.85 per share [4]. Group 2: Shareholder Involvement - To maintain stable equity structure, the main shareholder, Sun Hongbin, will receive restricted shares to keep his ownership percentage at a certain level [4]. - For every $100 principal of new MCB allocated to creditors, approximately $23 will be issued to the main shareholder or designated parties, with limited rights for six years [4]. Group 3: Financial Impact - Successful completion of the offshore debt restructuring, along with previous domestic debt restructuring, is expected to reduce Sunac's overall debt pressure by nearly 70 billion yuan, saving tens of millions in annual interest expenses [4]. - As of mid-2025, Sunac's interest-bearing liabilities stand at 254.82 billion yuan, with litigation amounts around 166.38 billion yuan [5]. Group 4: Industry Context - Currently, three real estate companies, including Sunac, have achieved or are close to successful debt restructuring, while eight others, including Shimao Group and Kaisa Group, have successfully restructured their offshore debts [4].

融创距离方案彻底通关仅"一步之遥"。 10月14日，融创中国发布公告称，在当日举行的境外债重组计划会议中，合计共有1492名债权人投票， 其中1469名债权人投票赞成重组计划，赞成票人数占比达98.5%，对应债务金额支持率94.5%。 至此，融创境外债重组方案已得到大多数计划债权人批准、超过75%的金额门槛。后续，香港高等法院 将于11月5日举行聆讯，对其重组方案作出最终裁决。这意味着，融创距离重组方案彻底通关仅"一步之 遥"。 今年4月17日，融创中国针对总规模约95.5亿美元的境外债务，正式推出"全额债权转股权"方案，覆盖 公开市场债券、私募贷款等类型，同时设计了"股权结构稳定计划"，以应对管理层持股被稀释的问题。 具体来看，融创中国计划向债权人分派两个系列的新强制可转换债券（新MCB），作为注销现有债 务、解除与现有债务相关债权的对价。 其中，一类将获分配转股价6.80港元/股的新MCB，可在重组生效日起转股；另一类将获分配转股价3.85 港元/股的新MCB，可在重组后18～30个月内转股。 为维持股权结构稳定，主要股东（即孙宏斌）能够持续为集团的保交付、债务风险化解及长期业务恢复 贡献价值，方案拟向主 ...

公告明确，香港高等法院将于11月5日举行聆讯，对其重组方案作出最终裁决。 至此，融创境外债重组方案已赢得所需大多数计划债权人批准。 融创表示，鉴于本次表决结果超过75%金额门槛，已满足法院批准的核心要求，方案随之将迎来法院批准流程。 距离方案获批只有一步之遥。 10月14日，融创中国控股有限公司发布公告，在当日举行的境外债重组计划会议中，合计共有1492名债权人投票，其中1469名债权人投票赞成 重组计划，赞成票人数占比达98.5%，对应债务金额支持率94.5%。 同时，融创还推出"股权结构稳定计划"，向主要股东提供部分附带条件的受限股票，主要股东在6年内仅获得该等受限股票的投票权等极其受 限的权利，除非达到特定限制条件，否则不能处置、抵押、转让受限股票。通过该计划，主要股东股权比例维持在一定水平，避免过分稀释。 融创是债务重组推进较快的大型房企，2023年1月就完成了160亿元境内债的展期。当年11月，融创通过"债转股+发新票"的方式，完成百亿美 元境外债务重组。但此后，由于业绩恢复不及预期，加之遭遇债权人的清盘呈请，融创不得不进行二次债务重组。其中，境内债的二次重组已 于今年1月完成。 今年3月，融创宣布 ...