碧桂园，突发！

Group 1 - The core announcement from Country Garden is regarding the latest developments in its offshore debt restructuring, with a meeting scheduled for November 5, 2025, to discuss the proposed debt arrangement plan [1][2] - The maximum debt reduction target is set at $11.6 billion, with plans to extend the maturity of the debt up to 11.5 years and reduce the average borrowing cost from approximately 6% to around 2% post-restructuring [3][4] - As of December 31, 2023, Country Garden's offshore debt amounts to approximately $16.4 billion, including $10.3 billion in outstanding bond debt and $3.6 billion in syndicated loan debt [3][4] Group 2 - The controlling shareholder, Bishi Limited, has provided additional support for the restructuring, committing to subscribe for capitalized shares at a price of HKD 0.60 per share, which will offset approximately $1.14 billion in shareholder loans [5] - The issuance price of the capitalized shares represents a premium of about 36.4% compared to the closing price on April 11, 2025, and a discount of approximately 3.8% compared to the average closing price over the last five trading days prior to the commitment date [3][5] - In September 2025, Country Garden reported contract sales amounting to approximately $2.58 billion, with a total contracted sales area of about 320,000 square meters [6]