cirqusvoltairepinball| Country Garden: Adhere to long-term doctrine, actively raise funds, and cross the cycle

Newsletter summary

Yang Huiyan, chairman of country Garden, is optimistic about the prospects of the real estate industry and believes that a better policy will help the industry usher in the spring. The overseas restructuring of the company has been carried out in an orderly manner, the debt problem has also been paid attention to, and the interest on medium-term bills has been paid successfully. At the same time, the relaxation of purchase restrictions by governments in many places is conducive to the improvement of liquidity in the real estate market.

Text of news flash

[Yang Huiyan, chairman of country Garden Group, predicts that the real estate market will welcome spring] at the monthly management meeting of country Garden Group held on May 13, the management expressedCirqusvoltairepinballConfidence in the current complex market is emphasized, and the importance of long-term doctrine and correct and difficult decisions is emphasized. Yang Huiyan, chairman of the board, pointed out that the relaxation of purchase restrictions in first-and second-tier cities and policy measures such as "trade-in" show that the government is making efforts to increase market liquidity in order to boost industry confidence. Yang Huiyan believes that although the overall real estate market is still in the doldrums, as long as companies adhere to policy support, such as whitelist and other positive policies, to ensure delivery as the political bottom line, will become the cornerstone of enterprises to tide over the difficulties. She also revealed that the company's balance sheet is still healthy and the market will gradually improve as the policy continues to improve. She stressed that in the current situation, team and talent development is particularly important in order to seize the opportunities in the crisis and build a team that can stand the test in the period of industry adjustment. Yang Huiyan also introduced the progress of the company's overseas restructuring, saying that the relevant work is progressing steadily as planned and has established a good communication and negotiation mechanism with creditors. In addition, country Garden Real Estate Group Co., Ltd. has recently become the focus again because of the debt problem. The company issued an announcement at the China Association of Interbank Market Dealers on May 11, announcing that it had completed the interest payment of the medium-term notes "23 country Garden MTN001" and "23 country Garden MTN002" during the grace period. Country Garden Real Estate previously announced on May 9 that due to the continued fluctuations in the industry and the complex and grim business environment, the company was making every effort to raise funds, but due to the failure of sales recovery and difficulties in fund allocation, the interest payable of "23 country Garden MTN002" could not be paid on time on the interest payment date of May 9, 2024. At the same time, many local governments have recently issued real estate regulation and control policies to relax or even abolish purchase restrictions in order to boost market demand and reduce inventory. China International Capital Corporation research newspaper believes that in the context of policy relaxation, real estate policy is expected to continue to make efforts at both ends of supply and demand, helping to stabilize the market.