Core Viewpoint - Sunac China has successfully obtained approval from the Hong Kong High Court for its approximately $9.6 billion offshore debt restructuring, marking it as the first large real estate enterprise to achieve a "zero" balance on offshore debt [2] Group 1: Debt Restructuring - The restructuring plan was initiated in January 2023, with a proposal announced in April, and achieved a 98.5% creditor approval by October [2] - The company reported a reduction in interest-bearing liabilities to 254.82 billion yuan, down 22.61 billion yuan year-on-year, and approximately 4.85 billion yuan since the end of last year [2] - The restructuring includes a "debt-to-equity swap" approach, introducing mandatory convertible bonds and a menu of options for creditors, which received strong support [2][3] Group 2: Delivery and Sales Performance - In the first half of the year, Sunac delivered quality new homes to 14,900 families, with a cumulative delivery of 683,000 units over the past three years [3] - The "One Number Courtyard" projects in Shanghai and Beijing have seen significant sales, with Shanghai's project achieving over 22 billion yuan in sales, topping the national new home sales list [3][4] - The company aims to deliver over 50,000 units by the end of the year, focusing on ensuring delivery commitments [3] Group 3: Market Position - Sunac ranked third among private enterprises in contract sales, achieving a total sales amount of 23.55 billion yuan in the first half of the year [4]
融创境外债基本清零