COUNTRY GARDEN(HK:02007) YOUNG财经 漾财经·2026-01-05 12:00Core Viewpoint - Yang Huiyan has led Country Garden through a challenging period since taking over as chairperson, focusing on debt restructuring and transitioning the company's operational strategy towards quality and precision management [4][12]. Group 1: Company Challenges and Debt Restructuring - Upon Yang Huiyan's takeover in March 2023, Country Garden faced its most significant difficulties, with total sales dropping from 219.98 billion yuan in 2023 to 60.48 billion yuan in 2024 and further to 40.28 billion yuan in 2025 [4]. - The company issued a profit warning in August 2023, anticipating substantial losses due to unfavorable sales and refinancing conditions, and acknowledged underestimating the market downturn [6]. - By December 2025, Country Garden successfully completed a debt restructuring plan for approximately 177 billion USD in offshore debt and 13.77 billion yuan in onshore debt, significantly reducing its debt burden by over 90 billion yuan [7][8]. Group 2: Management Changes - On December 4, 2025, alongside the announcement of debt restructuring progress, Country Garden appointed new management, with Mo Bin becoming co-chairman and Cheng Guangyu taking over as president [10]. - The management changes are aimed at enhancing the board's effectiveness and addressing the company's challenges in the new operational phase [10]. Group 3: New Strategic Direction - Yang Huiyan introduced the concept of "second entrepreneurship" in December 2025, marking a shift from crisis management to optimizing debt structure and restoring normal operations [12][13]. - The company plans to focus on quality improvement and urban renewal, aligning with the government's policy shift from scale to quality in the real estate market [14]. - Country Garden's strategy includes leveraging its technology construction capabilities and expanding its management services, with over 200 projects and 18.68 million square meters managed by its subsidiary [14]. Group 4: Market Position and Future Outlook - The company recognizes the transition to a buyer's market and aims to refine its operational approach, emphasizing localized products and services tailored to specific community needs [15]. - Despite ongoing challenges, including significant legal and financial issues, Country Garden is positioned to emerge from its debt crisis and redefine its competitive edge in the real estate sector [16].