Core Viewpoint - Country Garden (碧桂园) is proposing a debt restructuring plan aimed at significantly deleveraging the company by reducing debt by over $11 billion, contingent on creditor participation and conversion of certain financial instruments into equity [1][2]. Group 1: Debt Restructuring Plan - The proposed restructuring plan aims to create a sustainable capital structure, allowing the company to focus on housing delivery, business operations, and asset value maximization [1]. - The company has received sufficient support from first and second-tier creditors to approve the plan at a meeting scheduled for November 5, 2025 [1]. - The restructuring is expected to be completed by the end of 2025, with the company working closely with a project team and coordination committee [1]. Group 2: Issuance of Convertible Bonds - The company plans to issue up to $7.515 billion in Mandatory Convertible Bonds (A), with a portion allocated for restructuring support fees and work fees [2]. - Additionally, up to $5.4426 billion in Mandatory Convertible Bonds (B) will be issued as part of the plan, along with $39.4614 million in Mandatory Convertible Bonds (C) related to a bilateral loan solution [2]. Group 3: Share Issuance - The company proposes to issue up to 914 million new shares to settle various work fees owed to project teams and bondholders, with a nominal value of approximately HKD 914.22 million [3]. - If necessary regulatory approvals are not obtained, the company may issue an additional 42.21 million shares at an initial conversion price of HKD 2.60 per share to cover fees [3]. Group 4: Loan Settlement - The company intends to issue up to 16.8498 million new shares to settle accrued and unpaid interest on a bilateral loan from Dah Sing Bank, amounting to HKD 43.8096 million [4]. - The issuance price for these shares will be HKD 2.60, representing a premium of approximately 390.57% over the last closing price [4]. Group 5: Management Incentive Plan - A management incentive plan is proposed to motivate key management and employees to effectively execute the business plan and improve financial performance [5]. - The plan's terms will be subject to the listing rules and require shareholder approval at a special meeting [5]. - The company has entered into share purchase agreements with subsidiaries to sell certain shares, which will result in the financial performance of these subsidiaries no longer being consolidated into the company's financial statements [5].

Core Viewpoint - Country Garden (碧桂园) is proposing a debt restructuring plan aimed at significantly deleveraging the company by reducing debt by over $11 billion, contingent on creditor participation and conversion of certain bonds into equity [1][2]. Group 1: Debt Restructuring Proposal - The restructuring plan aims to create a more sustainable capital structure, allowing the company to focus on housing delivery, business operations, and maximizing asset value for stakeholders [1]. - The company has received sufficient support from primary and secondary creditors to approve the plan at a meeting scheduled for November 5, 2025 [1]. - The restructuring is expected to be completed by the end of 2025, with close collaboration between the company and the special project team [1]. Group 2: Bond Issuance Details - The company plans to issue up to $7.515 billion in Mandatory Convertible Bonds (A), with a portion allocated for restructuring support fees and work fees [2]. - Additionally, up to $5.4426 billion in Mandatory Convertible Bonds (B) will be issued as part of the plan, along with $39.4614 million in Mandatory Convertible Bonds (C) related to a bilateral loan solution [2]. Group 3: Share Issuance for Fees - The company proposes to issue up to 914 million new shares to settle various work fees owed to the project team and bondholders, with a nominal value of approximately HKD 914.22 million [3]. - If necessary regulatory approvals are not obtained, the company may issue up to an additional 42.21 million shares at an initial conversion price of HKD 2.60 per share to cover fees [3]. Group 4: Payment to Bank - The company intends to issue up to 16.8498 million new shares to pay accrued and unpaid interest to a bank, amounting to approximately HKD 43.8096 million [4]. - The issuance price for these shares will be HKD 2.60, representing a premium of about 390.57% over the last closing price [4]. Group 5: Management Incentive Plan - A management incentive plan is proposed to motivate key management and employees to effectively execute the business plan and improve financial performance [5]. - The plan's terms will be subject to listing rules and require shareholder approval at a special meeting [5]. - The company has entered into share purchase agreements with subsidiaries to sell certain shares, which will result in the financial performance of those companies no longer being consolidated into the company's financial statements [5].

Core Viewpoint - Country Garden announced a series of proposed restructuring transactions aimed at improving its financial position and operational efficiency [1] Group 1: Proposed Transactions - The company plans to issue mandatory convertible bonds under special authorization [1] - It suggests issuing SCA warrants based on special authorization [1] - The company intends to issue new shares according to work fee arrangements and restructuring support agreements under special authorization [1] - A proposal to issue new shares as part of a bilateral loan solution with Dafeng Bank is also included [1] - There are related transactions involving the capitalization of shareholder loans, which includes issuing new shares to the controlling shareholder under special authorization [1] - The management incentive plan is proposed for adoption [1] - The company plans to sell stakes in several subsidiaries and offset shareholder loans through related transactions and ongoing related transactions [1]

11月14日，碧桂园在港交所公告，就建议重组可能进行的交易，涉及：建议根据特别授权发行强制性可 转换债券；建议根据特别授权发行SCA认股权证；建议根据特别授权按照工作费用安排及重组支持协议 同意费用发行新股份；建议根据大丰银行双边贷款解决方案发行新股份；有关建议资本化股东贷款（涉 及根据特别授权向控股股东发行新股份）的关连交易；建议采纳管理层激励计划；及有关建议出售若干 附属公司股权及抵销股东贷款的关连交易以及相关持续关连交易。 ...

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的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司證券的邀請或要約，亦不在任何司法權區構成任何投票 或批准的招攬。 本公告及其任何副本概不得直接或間接在美國，或在刊發或派發本公告屬違法的任何其他司法權區刊發或派 發。 於美國或任何其他根據任何有關司法權區證券法例登記或合資格前作出有關提呈、招攬或出售則屬不合法的 司法權區，本公告並非亦不構成提呈購買或出售或招攬購買或出售任何證券的要約的任何部分。本公告提及 的證券並無且將不會根據1933年美國證券法登記，倘無登記或獲豁免登記，則不得在美國境內提呈、出售或 以其他方式轉讓。於美國公開發售任何證券將須以招股章程形式作出，該招股章程可向本公司索取，並將載 有關於本公司及管理層以及財務報表的詳細資料。本公司無意於美國登記本公告所述任何發售的任何部分。 COUNTRY GARDEN HOLDINGS COMPANY LIMITED 碧桂園控股有限公司 （於開曼群島註冊 ...

据天眼查APP，11月12日，碧桂园地产集团有限公司（下称碧桂园地产）新增一则被执行人信息，执行标的80.76万元，执行法院为闽清县人民法院。 此外，近日，碧桂园地产新增一则股权冻结信息，股权所在企业为佛山源康房地产发展有限公司，冻结股权数额约12.32亿元，冻结期限为3年，执行法院 为安徽省芜湖市中级人民法院。 图片来源：天眼查APP 截至目前，碧桂园地产累计被执行金额约62.67亿元，股权冻结信息达127条。 公开信息显示，碧桂园地产成立于2015年，由佛山市顺德区宙华投资咨询有限公司、深圳市碧桂科技发展有限公司共同持股，注册资本约153.2亿元。 近日，碧桂园（港股代码：02007）披露的最新营运数据显示，该公司及其附属公司，连同其合营公司和联营公司于2025年10月单月共实现归属本公司股 东权益的合同销售 额约29亿元，归属本公司股东权益的合同销售建筑面积约39万平方米。 此外，11月6日，碧桂园公告称，公司境外债务重组方案在5日的债权人会议上顺利通过。在两个债务组别的投票中，均获得出席并投票的债权人中超过 75%债权金额的赞成票。 其中，组别一（银团贷款组别）赞成票对应债权金额占组别一出席并投票债权 ...

Core Viewpoint - Country Garden Real Estate Group has recently faced a new equity freeze involving over 1.23 billion RMB, indicating ongoing financial challenges and legal issues [1][3]. Equity Freeze Details - The equity freeze pertains to Foshan Yuankang Real Estate Development Co., with a frozen amount of 1,232.45717 million RMB for a duration of three years, enforced by the Wuhu Intermediate People's Court in Anhui Province [1][3]. - Currently, Country Garden has a total of 127 equity freeze records, 62 records of being an executed party with a total amount of approximately 6.266 billion RMB, and historical records exceeding 8.684 billion RMB [7]. Company Background - Country Garden Real Estate was established in April 2015, with a registered capital of approximately 15.32 billion RMB, focusing on real estate development, sales, property leasing, and investment consulting [7]. - The company is co-owned by Foshan Shunde District Zhouhua Investment Consulting Co. and Shenzhen Country Garden Technology Development Co., with Yang Huiyan serving as the chairman [7]. Debt Restructuring Efforts - Recently, Country Garden's offshore debt restructuring plan was approved, aiming to reduce its debt scale by approximately 11.7 billion USD (around 84 billion RMB) and potentially recognize up to 70 billion RMB in restructuring gains [7]. - The company is also restructuring domestic bonds, with 8 bondholder meetings approving restructuring plans totaling approximately 13.41669 billion RMB [8]. Financial Performance - In the first half of the year, Country Garden reported revenues of approximately 72.57 billion RMB and a net loss of about 19.65 billion RMB, with total assets around 909.3 billion RMB, exceeding total liabilities [8]. - The company has delivered over 1.7 million homes in the past three years, with over 70,000 deliveries in the first half of this year, maintaining a leading position in third-party rankings [8].

Group 1 - The core point of the article is that Country Garden has recently had a share freeze of over 1.23 billion yuan related to its subsidiary, Foshan Yuankang Real Estate Development Co., Ltd, with a freeze period of three years [1] - The executing court for the share freeze is the Intermediate People's Court of Wuhu City, Anhui Province [1] - Country Garden Real Estate Group Co., Ltd was established in April 2015, with a registered capital of approximately 15.32 billion yuan, and its business scope includes real estate development and sales, property leasing, and real estate investment consulting [1]

Core Viewpoint - Country Garden's restructuring approval reflects creditor confidence in the company's future, paving the way for a "second entrepreneurship" phase aimed at transforming operations and enhancing core capabilities [1][2] Group 1: Restructuring and Financials - Country Garden's offshore debt restructuring plan, involving approximately $17.7 billion in debt, received overwhelming support, with 83.71% of Group One (syndicated loans) and 96.03% of Group Two (USD bonds and other debts) voting in favor [1] - The domestic restructuring plan for eight bonds totaling approximately 13.3 billion yuan was also quickly approved by the end of September [1] Group 2: Strategic Shift and Management Philosophy - The company is transitioning from large-scale, rapid turnover development to a more refined operational approach, emphasizing local market understanding and tailored products and services [2] - Yang Huiyan, the chairman, highlighted the importance of cultivating a workforce that strives for excellence, aligning with the company's talent values of integrity, initiative, and results [2]

Group 1 - The core viewpoint of the article emphasizes that the approval of the debt restructuring plan is a recognition from creditors of the company's future, providing a more flexible space for the company to restore normal operations and marking a transformative phase for Country Garden, referred to as a "second entrepreneurship" [2] - Country Garden's offshore debt restructuring plan, involving approximately $17.7 billion in debt, received significant support, with 83.71% of the voting debt amount in Group One (syndicated loans) and 96.03% in Group Two (U.S. dollar bonds and other debts) voting in favor, meeting the necessary conditions for the restructuring plan [2] - The company aims to leverage the experience gained from the special task of ensuring housing delivery to systematically advance its operational transition, emphasizing the need for more employees who pursue excellence to drive this second entrepreneurship [2] Group 2 - Yang Huiyan, the chairperson of Country Garden, acknowledged the company's greatest difficulties since its inception in a recent letter, highlighting the need to shift from large-scale, rapid turnover development to refined operations in the current buyer's market [3] - The company intends to focus on understanding local needs and providing products and services that best meet the demands of different cities, emphasizing the importance of reputation in the real estate industry [3] - Yang Huiyan shared her family education philosophy, which aligns with the company's talent values, emphasizing the importance of good character, willingness to act, and delivering results as key metrics for talent evaluation [3]