Core Viewpoint - China Communications Real Estate Company has completed the transfer of debt repayment obligations related to several corporate bonds to its controlling shareholder, China Communications Real Estate Group, in response to ongoing pressures in the real estate market [1][3]. Group 1: Basic Situation of the Matter - The transfer of debt obligations is a strategic move to optimize the asset-liability structure and reduce repayment pressure amid a challenging real estate environment [1]. - The specific bonds involved in this transfer include "21 Zhongjiao Bond," "23 Zhongjiao 06," "25 Zhongjiao 01," "25 Zhongjiao 02," and "25 Zhongjiao 03" [1]. Group 2: Inheriting Party Information - China Communications Real Estate Group was established on March 24, 2015, with a registered capital of 1.5 billion RMB [2]. - The company operates in the real estate industry, focusing on property development, management, and investment [2]. Group 3: Debt Transfer Procedure - The debt obligations have been officially transferred from China Communications Real Estate Company to China Communications Real Estate Group, with necessary approvals obtained from internal decision-making bodies [3]. - A bondholders' meeting was held on May 19, 2025, to approve the debt inheritance proposal [3]. Group 4: Rights and Obligations of Bond Issuance - China Communications Real Estate Group will assume all repayment and disclosure obligations related to the bonds, ensuring the protection of investor rights [3]. - The terms of the bonds, including interest rates and maturity dates, will remain unchanged following the transfer [3][4]. Group 5: Impact Analysis - Following the completion of the debt transfer, China Communications Real Estate Company will no longer bear the repayment obligations for the specified bonds, which will now be the responsibility of China Communications Real Estate Group [4][5].

Core Viewpoint - The announcement details the completion of the debt assumption obligations by China Communications Real Estate Group Co., Ltd. for the bonds originally issued by China Communications Real Estate Co., Ltd. [1] Group 1: Bond Information - The bonds involved in the debt assumption include "21 Zhongjiao Bond," "23 Zhongjiao 06," "25 Zhongjiao 01," "25 Zhongjiao 02," and "25 Zhongjiao 03" [2][4] - The original issuer, China Communications Real Estate Co., Ltd., will no longer be the debtor for these bonds, as the repayment obligations have been transferred to China Communications Real Estate Group [4] Group 2: Company Information - China Communications Real Estate Group Co., Ltd. was established on March 24, 2015, with a registered capital of 1,500,000,000 RMB [1][3] - The company operates in the real estate industry, focusing on real estate development, property management, and investment management [3] Group 3: Debt Assumption Process - The debt assumption process has been approved by the internal decision-making bodies of both the original issuer and the assuming party, and a bondholders' meeting has been held to pass the resolution [3][4] - The original guarantor for "21 Zhongjiao Bond" has signed a release agreement regarding the guarantee obligations [3] Group 4: Rights and Obligations - China Communications Real Estate Group will continue to fulfill the obligations related to the bonds, including interest payments and information disclosure, ensuring the protection of investors' rights [4] - The key terms of the bonds, such as interest rates and issuance periods, will remain unchanged following the transfer [4]