欧力士入局，“云南一哥”俊发债务化解按下“加速键”

Core Viewpoint - Junfa Group has made significant progress in its debt restructuring by introducing the Japanese investment firm Orix Group, which will invest $500 million (approximately 3.55 billion RMB) to revitalize assets and collaborate on 44 projects in Yunnan [1][2][4]. Group 1: Debt Restructuring and Partnerships - Orix Group will work alongside Dongfang Asset to provide financial support for Junfa, while Longfor Group will handle project construction and operations [1][2]. - A strategic cooperation framework agreement has been signed among Orix, Junfa, Longfor, and Minsheng Bank, which is Junfa's largest creditor [1][2]. - The investment plan includes two batches of projects: the first batch consists of 18 projects, and the second batch includes 26 projects, focusing on construction completion, resolving unfinished projects, and commercial operations [1][2]. Group 2: Historical Context and Challenges - Junfa Group, once a leading real estate company in Yunnan, faced a debt crisis due to a trust product default in April 2022, leading to a significant decline in its market position [2][3]. - The company has been attempting to recover from its financial difficulties for three years, implementing various measures such as promoting sales through discounts and asset disposals [2][3]. - Despite these efforts, Junfa's sales dropped by 67.22% year-on-year to 5.158 billion RMB in the first three quarters of 2022, marking its first time falling out of the top sales ranking in Yunnan [3]. Group 3: Orix Group's Role and Background - Orix Group, established in 1964, is a global non-bank financial group with over $600 billion in managed assets and has been actively involved in real estate investments in China [4][5]. - The company has a history of providing financial assistance to distressed assets, having previously supported companies like Haichang Holdings and Evergrande during their financial crises [6].