China Fortune Land restructures CNY 192.3bn debt

China Fortune Land Development (SSE:600340) announced significant progress in its debt restructuring efforts. As of March 31, 2025, the company has restructured approximately CNY 192.3 billion of financial debt via agreements, including both domestic and offshore bonds. This figure includes the successful restructuring of USD 49.6 million in offshore bonds issued by an indirect, wholly-owned subsidiary. The restructuring has reduced debt interest and waived penalty interest totaling CNY 20.2 billion.