China Fortune Land debt restructuring reaches CNY 1.93 trillion

China Fortune Land Development (SSE:600340) announced that, as of May 31, 2025, CNY 1.927 trillion of financial debt had been restructured through signing agreements under the debt restructuring plan. This total includes the restructuring of CNY 371.3 billion of domestic corporate bonds and USD 49.6 million of offshore bonds issued by an indirectly wholly-owned offshore subsidiary. Debt restructuring related to equity transfer of subsidiaries reduced debts by CNY 231.75 billion. The company reported CNY 219.31 billion in overdue debts (excluding interest). The company is working to implement the debt restructuring plan under the guidance and support of provincial and municipal governments. Additionally, ongoing litigation and arbitration cases involve a total of CNY 6.85 billion.