China Fortune Land advances debt restructuring amid new lawsuits

As of August 31, 2025, China Fortune Land Development has restructured RMB192.67 billion of its financial debt through various agreements, including RMB37.13 billion in domestic bonds and $4.96 billion in offshore dollar bonds. This has resulted in a reduction of interest and penalty interest totaling RMB20.20 billion. Additionally, the company utilized equity from its "Happy Select Platform" and "Happy Preferred Platform" to offset approximately RMB23.63 billion in financial and operational debt.

The company's cumulative outstanding debt that could not be repaid on time reached RMB24.00 billion (excluding interest) as of August 31, 2025. Between August 1 and August 31, 2025, the company incurred new litigation and arbitration cases totaling RMB1.41 billion. Of this, cases where the company is the plaintiff amount to RMB0.23 billion, and cases where it is the defendant amount to RMB1.17 billion.

These new legal proceedings represent 34.32% of the company's net assets attributable to shareholders as of its latest audited period, totaling RMB4.10 billion. The outcomes of these cases remain uncertain, and the company will assess their impact on current and future period profits according to accounting standards.