Zheng Quan Ri Bao Wang·2025-12-06 07:23Core Viewpoint - Country Garden has successfully completed its debt restructuring for both domestic and overseas debts, significantly reducing its financial pressure and enhancing confidence among stakeholders [1][2]. Group 1: Debt Restructuring - The overseas debt restructuring plan, amounting to approximately $17.7 billion, has been officially approved by the Hong Kong High Court [1]. - The domestic debt restructuring, involving a total of approximately 13.77 billion yuan, has also been fully approved by bondholder meetings [1]. - The overseas debt restructuring is expected to reduce debt by about $11.7 billion, corresponding to approximately 84 billion yuan of interest-bearing debt, confirming a net foreign debt restructuring benefit of around 70 billion yuan [1]. - The domestic restructuring is anticipated to achieve a debt principal reduction of over 50%, significantly alleviating cash flow pressure [1]. Group 2: Financial Impact - The overall debt reduction scale is estimated to exceed 90 billion yuan, with a substantial easing of repayment pressure over the next five years [2]. - The financing cost of new debt instruments post-restructuring is expected to drop to between 1% and 2.5%, leading to considerable savings in interest expenses [2]. - The completion of the restructuring is projected to confirm significant restructuring gains, enhancing the company's net assets and solidifying its financial safety net [2]. Group 3: Operational Strategy - Country Garden has delivered over 1.8 million units from 2022 to date, aiming to complete its housing delivery commitments by year-end [2]. - The company is focusing on technological construction and management services, which have matured, to seize structural opportunities in urban renewal and housing operations [2]. - The recent major personnel adjustments, including the appointment of a co-chairman and a new president, are aimed at enhancing board effectiveness to tackle business challenges in the new era [3]. Group 4: Future Outlook - Country Garden plans to continue its strategic focus on "ensuring housing delivery, stabilizing finances, and maintaining operations" to navigate through economic cycles and achieve sustainable development [3].