R&F Properties updates on debt restructuring and litigation

Guangzhou R&F Properties has released an update on its progress in offshore debt restructuring, aiming to significantly deleverage the Group's indebtedness, and is pushing forward with settlements of outstanding litigations. The company amended the accession deadline to its restructuring support agreement to July 31, 2025 to facilitate creditors. Furthermore, the Company's contracted sales in April and May 2025 have improved as compared to the same period last year, to RMB1.37 billion and RMB1.36 billion respectively. The company has been actively negotiating with bondholders to restructure its domestic corporate bonds and has continued to take measures to control administrative costs and preserve liquidity. The company acknowledged the importance of these actions to improve operating conditions, and improve bond repayment capacity. The company has disclosed ongoing litigation and arbitration including loans disputes, with related court rulings and appeals. The goal is to resolve the auditor's disclaimer of opinion on the consolidated financial statements.