Group 1 - Guangzhou R&F Properties Co., Ltd. announced a payment arrangement for bondholders regarding "H16 R&F 4", "H16 R&F 5", "H18 R&F 8", "H18 R&F 1", and "H19 R&F 2" bonds, which are due for the first installment payment by July 31, 2025 [1] - The company will pay 3‰ of the principal amount and accrued interest up to the day before actual payment, with a 30-working-day grace period for principal and/or interest payments [1] - The grace period will not incur penalty interest, and the company aims to alleviate short-term payment pressure due to liquidity constraints [1] Group 2 - In May 2025, R&F Properties achieved sales revenue of approximately 1.37 billion yuan, with a total sales area of about 129,600 square meters [2] - Cumulatively, as of the end of May 2025, the company reported total sales revenue of around 5.5 billion yuan and a total sales area of approximately 513,300 square meters [2] - The company is actively controlling administrative costs and unnecessary capital expenditures to maintain liquidity, while seeking opportunities to sell stakes in project development companies for additional cash flow [2]

Core Viewpoint - Longfor has successfully allocated the repayment funds for "22 Longfor 04" amounting to 1.766 billion yuan, indicating a strong commitment to debt servicing and financial stability [1] Group 1 - The total amount allocated for the repayment of "22 Longfor 04" is 1.766 billion yuan, with an issuance scale of 1.7 billion yuan and a coupon rate of 4.1% [1] - The repayment for "22 Longfor 04" marks a significant milestone, bringing the total public bond repayments by Longfor to nearly 9 billion yuan for the year [1] - Over the period from 2023 to 2024, Longfor is projected to reduce its interest-bearing liabilities by more than 30 billion yuan [1]

Group 1 - Aoyuan Group (03383.HK) announced a conditional sale agreement with Guangdong Provincial Food Import and Export Group, involving the sale of approximately 35.52 million shares (21.1632% equity) of the target company for approximately RMB 191 million [1] - Aoyuan Group's subsidiary, Yaxin Investment, will also enter into a repurchase agreement with the target company, agreeing to sell approximately 7.95 million shares (4.7360% equity) for approximately RMB 42.79 million [1] - Following the completion of these transactions, Aoyuan Group will no longer hold any shares in the target company, which is currently a joint venture [2] Group 2 - The target company, Guangdong Zhujiangqiao Biotechnology Co., Ltd., specializes in the research, production, and sales of high-salt liquid soy sauce, vinegar, and compound seasonings [2] - As of the announcement date, the target company is a subsidiary of the Provincial Food Group, which holds approximately 31.6440% of its equity, while Yaxin Investment holds approximately 25.8991% [2] - The proceeds from the sale will be used to repay bondholders of the "23 Fan Ya 02" bond, while the proceeds from the repurchase will be allocated for the group's daily operational management [2]