碧桂园公告！

Group 1 - The core viewpoint of the article highlights the ongoing challenges faced by real estate companies, particularly碧桂园, which is expected to report a significant loss of approximately 18.5 billion to 21.5 billion yuan for the half-year period ending June 30, 2025, primarily due to a decline in project settlement scale, low gross margins, and increased asset impairments [1] -碧桂园 has maintained stable operations by implementing strict cost control measures, efficiently utilizing resources, and enhancing its operational management system, delivering around 74,000 housing units during the reporting period [1] - The company is actively addressing debt risks through proactive communication with stakeholders, aiming for a comprehensive restructuring of its offshore debt, with 49% of the current bank loan principal agreeing to the restructuring support [1] Group 2 - As of August 2025, several real estate companies, including融创, 富力, and碧桂园, have made positive progress in debt restructuring, with a total debt restructuring scale exceeding 1.2 trillion yuan [2] - The issuance of real estate bonds has seen notable activity this year, with companies like美的置业 and滨江地产 successfully raising funds, indicating a favorable financing environment due to supportive policies [2] - Despite the positive developments, financing remains concentrated among leading real estate firms, necessitating faster policy implementation and market-driven solutions for distressed companies to achieve debt restructuring [2] Group 3 -碧桂园 has been included in the Hang Seng Composite Index, with the changes set to take effect after the market closes on September 5, 2025 [3]