RiseSun approves debt-for-asset swaps and guarantees

RiseSun Real Estate Development (SZSE:002146) has announced a series of resolutions passed during its Eighth Meeting of the Eighth Board of Directors, focused on addressing its debt obligations and bolstering financial stability. Key among these is the approval of debt-for-asset swaps with Nanjing Ninglu Construction Co. and Hebei Zhongkai Construction Engineering Co, both significant suppliers to RiseSun. The company will transfer assets valued at CNY 152,082,170 to reduce its debts to these suppliers, subject to shareholder approval.