China Fortune Land Development begins pre-restructuring process

China Fortune Land Development (SSE:600340) announced that the Langfang Intermediate People's Court has accepted a pre-restructuring application. The court appointed the China Fortune Land Development Judicial Restructuring and Liquidation Group as provisional administrator. This decision follows an application by Longcheng Construction Engineering Co., Ltd., citing the company's inability to timely repay due debts.

The provisional administrator has initiated a call for creditors to declare their claims by December 18, 2025. Creditors are instructed to submit claims using an online portal and physical mail, providing details of the claim amount, nature, and any associated collateral or joint debtors.

The company highlighted significant uncertainties, including whether the pre-restructuring will succeed. Should the court formally accept a restructuring application, the company's stock will face a delisting risk warning and potential termination of listing if the restructuring fails. As of the third quarter of 2025, the company reported a net loss of 9.8bn yuan and negative owner's equity of 4.7bn yuan, with a 96.44% asset-liability ratio.