R&F Properties progresses restructuring, boosts sales amid challenges

Guangzhou R&F Properties (HKEX:2777) announced progress in its restructuring plan, including amending the accession deadline to July 31, 2025, to facilitate scheme creditors considering the proposal. The company's restructuring entails a significant deleveraging of its offshore indebtedness. The dismissal of the winding-up petition against R&F (HK) is also in progress. The group reported improved contracted sales in April and May, with May sales reaching approximately RMB1.37 billion, and cumulative sales to date at RMB5.5 billion. R&F is also seeking settlements for outstanding litigations and implementing measures to control costs and seek new financing. The company is actively working to address the Disclaimer of Opinion from its auditor and will release further announcements on its progress.