COUNTRY GARDEN(HK:02007) 21世纪经济报道·2025-12-07 01:25Core Viewpoint - Country Garden's offshore debt restructuring plan, amounting to approximately $17.7 billion, has been officially approved by the Hong Kong High Court, marking a significant step towards stabilizing the company's financial situation [2] - The company has also successfully completed the restructuring of its domestic debts, totaling around 13.77 billion yuan, indicating a comprehensive resolution of its debt issues and the beginning of a new development phase [2][3] Debt Restructuring Progress - The offshore debt restructuring plan is expected to be finalized by the end of the year after meeting necessary preconditions [2] - All nine domestic debt restructuring proposals have been approved, concluding the restructuring process for a total of approximately 13.77 billion yuan [2] Management Changes - Following the announcement of the debt restructuring, Country Garden appointed a new management team, with Mo Bin transitioning to co-chairman and Cheng Guangyu taking over as president [2][3] - Cheng Guangyu, who has been seen as a key figure in the company, is expected to lead the strategic deployment of the board and oversee the daily operations of the group [2][5] Future Outlook - After the debt restructuring, Country Garden anticipates a reduction in debt scale exceeding 90 billion yuan, significantly alleviating repayment pressures over the next five years [8] - The company expects to recognize over 70 billion yuan in restructuring gains, which will enhance its net assets and strengthen its financial safety net [9] - Country Garden aims to focus on quality improvement and customer-centric strategies in its future operations, aligning with the new policy direction towards quality enhancement in the real estate market [9][10] Strategic Initiatives - The company has established a full industry chain business layout centered on real estate development, with technology construction and property management as new growth drivers [9][10] - The technology construction segment has become a key driver for transformation, with significant advancements in robotics and project management capabilities [10]