
Core Viewpoint - Longfor has successfully completed the repayment of two medium-term notes, totaling over 3.6 billion yuan, as part of its strategy to reduce debt and optimize its debt structure [1][2][3] Group 1: Debt Repayment Details - On August 26, Longfor completed payments for "22 Longfor Expansion MTN001" and "22 Longfor Expansion MTN002," with total principal and interest of 1.5495 billion yuan and 2.0523 billion yuan respectively [1] - The total issuance amount for "22 Longfor Expansion MTN001" was 1.5 billion yuan with an interest rate of 3.30%, while "22 Longfor Expansion MTN002" had an issuance amount of 2 billion yuan and an interest rate of 3.00% [1] - Longfor has now fully repaid all bonds due in 2023 [1] Group 2: Debt Management Strategy - Longfor's management has emphasized the importance of reducing overall debt levels and optimizing the debt structure, with 2025 being a critical year for debt conversion [1] - The company aims to steadily decrease its debt scale while ensuring timely bank financing and repayment [1] - Longfor has been actively repaying debts since July, including the repayment of 1.766 billion yuan for "22 Longfor 04" and 5.225 billion yuan for "20 Longfor Expansion MTN001B" [2] Group 3: Financial Health and Outlook - After the recent repayments, Longfor has cumulatively repaid approximately 14.5 billion yuan in bonds this year [3] - DBS Bank noted that optimizing the balance sheet and maintaining cash flow for debt repayment are key operational focuses for Longfor, indicating positive progress in its financial health [3] - Following the repayment of December's syndicated loans, Longfor is expected to clear its recent foreign debt [3]