RiseSun(SZ:002146) Xin Lang Cai Jing·2026-01-30 10:04Debt Restructuring Overview - Rongsheng Real Estate Development Co., Ltd. announced a debt restructuring plan on January 30, 2026, involving multiple financial institutions and companies to alleviate current debt pressures, including debt forgiveness, asset swaps, and large-scale asset management [1][2] - The restructuring primarily targets a debt of 974 million yuan owed to CITIC Financial Asset Management Co., Ltd. Hebei Branch, with plans for debt forgiveness contingent on third-party company involvement [1][2] Key Debt Arrangements - A significant arrangement involves Jinan Tiesheng Investment Partnership, where Rongsheng's subsidiary owes 350 million yuan. CITIC Financial plans to acquire this debt for 239.5 million yuan, leading to a debt forgiveness of 367 million yuan [2] - The total debt involved in the restructuring, including the aforementioned debts, amounts to 1.214 billion yuan, which will be packaged for transfer to qualifying third-party companies [2] Guarantee Matters - Rongsheng and its subsidiaries are simultaneously advancing multiple guarantee matters, with a total guarantee amount exceeding 55.5 million yuan for specific subsidiaries, including Bengbu Real Estate and Langfang Development [3][4] - The guarantees cover various forms, including joint liability guarantees and collateral, and are linked to the restructuring debts and related costs [4] Financial Position and Risks - As of the announcement date, Rongsheng's total actual guarantees amount to 43.79 billion yuan, representing 294.78% of the company's latest audited net assets, with overdue guarantees totaling 12.623 billion yuan [5][6] - The company is facing additional legal challenges, including a lawsuit for 50 million yuan related to construction payments, and has incurred new overdue debts of 325 million yuan due to market conditions [6]