Core Viewpoint - Longguang Holdings announced significant matters regarding the restructuring of 21 public market bonds and asset-backed securities, aiming to facilitate subsequent debt restructuring arrangements [1] Group 1: Debt Restructuring - The company held bondholder meetings for the 21 bonds in 2025, where a proposal for the overall restructuring of the bonds was approved [1] - Longguang Holdings plans to publicly auction six assets, including Zhaoqing Jiufeng City and Longguang Guilin International Health Valley, with net cash proceeds to be used according to the restructuring proposal [1] Group 2: Auction Details - The auction rules stipulate that the starting price for the first round will not be less than 70% of the assessed value from a report in June 2025; if unsold, the starting price for the next round will be 70% of the previous round's price [1] - If the asset remains unsold after three rounds, the final round will start at 50% of the last round's price, and if still unsold, it will no longer be publicly auctioned [1] - The company aims to complete the asset disposal within three months after the first auction begins [1] Group 3: Asset Status and Cash Flow - The Zhaoqing Jiufeng City project is currently affected by a litigation dispute, resulting in the main asset being under seizure, which is expected to negatively impact project development and disposal value [2] - Longguang Holdings confirmed that Zhuhai Lake City and Jiangmen Jiulong Bay Garden are flow supplement assets, with net cash flow from these assets prioritized for single asset cost payments [2] - The Nanning Jiuyun Zhu (Xiangsi Lake) project is designated as a repayment source under a collective asset trust model and will not be used for other restructuring arrangements [2]