Core Viewpoint - Longfor Group has successfully reached an offshore debt restructuring agreement with a group of creditors, significantly boosting investor confidence and leading to a 9.47% increase in its stock price on September 10 [1]. Group 1: Debt Restructuring Progress - The revised restructuring plan marks a comprehensive solution to Longfor's offshore debt burden, facilitating a coordinated approach to both domestic and international debt restructuring [1]. - The restructuring is supported by ongoing policy relaxations in the Greater Bay Area, which are expected to enhance the company's operational stability and value recovery [1]. Group 2: Innovative Debt Restructuring Model - Longfor's new offshore debt restructuring plan introduces a diversified repayment system, including cash options, a pioneering asset trust model, and unlimited convertible bond options, distinguishing it from other industry practices [2]. - The plan features two asset trust options with a total scale of $11.19 million, allowing creditors to become beneficiaries of the corresponding project assets, thereby increasing recovery certainty [2]. - The cap on forced convertible bonds has been removed, allowing creditors to convert their debt into equity at a fixed price of HKD 6 per share, providing flexibility and potential long-term value [2]. Group 3: Long-term Capital Structure Improvement - The revised restructuring plan aims to establish a long-term stable capital structure, significantly increasing the company's net asset value and per-share net asset value [5]. - The restructuring is not merely a financial adjustment but a "value reconstruction" achieved through asset activation and debt restructuring, enhancing liquidity for debt repayment [5]. - Longfor has successfully completed the restructuring of 21 domestic bonds and asset-backed securities, laying a solid foundation for its offshore debt restructuring [5]. Group 4: Market Response and Future Outlook - The positive market response to Longfor's restructuring plan reflects a broader trend of capital market confidence and a potential revaluation of distressed assets [7]. - As both domestic and offshore debt restructuring progresses, Longfor is expected to transition from a phase of risk mitigation to one of value restoration [7].