CREC(SZ:000736) Zheng Quan Zhi Xing·2025-09-01 09:20Core Viewpoint - China Communications Real Estate Company has completed the transfer of debt repayment obligations related to several corporate bonds to its controlling shareholder, China Communications Real Estate Group, in response to ongoing pressures in the real estate market [1][3]. Group 1: Basic Situation of the Matter - The transfer of debt obligations is a strategic move to optimize the asset-liability structure and reduce repayment pressure amid a challenging real estate environment [1]. - The specific bonds involved in this transfer include "21 Zhongjiao Bond," "23 Zhongjiao 06," "25 Zhongjiao 01," "25 Zhongjiao 02," and "25 Zhongjiao 03" [1]. Group 2: Inheriting Party Information - China Communications Real Estate Group was established on March 24, 2015, with a registered capital of 1.5 billion RMB [2]. - The company operates in the real estate industry, focusing on property development, management, and investment [2]. Group 3: Debt Transfer Procedure - The debt obligations have been officially transferred from China Communications Real Estate Company to China Communications Real Estate Group, with necessary approvals obtained from internal decision-making bodies [3]. - A bondholders' meeting was held on May 19, 2025, to approve the debt inheritance proposal [3]. Group 4: Rights and Obligations of Bond Issuance - China Communications Real Estate Group will assume all repayment and disclosure obligations related to the bonds, ensuring the protection of investor rights [3]. - The terms of the bonds, including interest rates and maturity dates, will remain unchanged following the transfer [3][4]. Group 5: Impact Analysis - Following the completion of the debt transfer, China Communications Real Estate Company will no longer bear the repayment obligations for the specified bonds, which will now be the responsibility of China Communications Real Estate Group [4][5].