China Real Estate Evergrande Group disclosed the recent business development and the progress of overseas debt restructuring in the evening of Friday (July 29) that in the first half of 2022, China Evergrande achieved the contract sales of about 12.26 billion yuan (RMB, next, nextIn the same way, about 1.51 billion yuan), the contract sales area was 1.193 million square meters.Evergrande also said that the Group's real estate development business is widely involved in region. It is considered to consider the group's asset -liability scale. It is expected that the business will take a long time to restore orderly operations.
According to the announcement of the Hong Kong Stock Exchange's website, Evergrande said that the company spared no effort to maintain the stability of production and operation, and did its best to promote the resumption of work and re -production.Up to now, 96%of China Evergrande has sold part or all of the unopened projects, and the actual construction person has reached 86%of the Group's normal construction requirements.Since July 1, 2021, the company has accumulated a total of 232,000 units and delivery properties, with a construction area of 24.19 million square meters.
In terms of new energy vehicles, China Evergrande said that the new energy vehicle Hengchi 5 Automobile independently developed by China Evergrande New Energy Automobile Group Co., Ltd. was officially launched at the beginning of this year.The 353th batch of new products of the Ministry of Industry and Information Technology was announced. Hengchi 5 cars were qualified for sales and have officially started pre -sale on July 6. As of now, a total of more than 37,000 pre -sale orders have been received.
China Evergrande said that he hopes to provide the market with the active progress of its overseas debt restructuring process and several preliminary principles of the company's overseas debt reorganization of the company and its overseas subsidiaries.
In terms of the reorganization of overseas debt, in recent stages, the Group has always evaluated the group's situation with its financial and legal consultants to formulate solutions to respect all the rights of all interests, and aims to gradually restore orderly operations.Release operation and asset value.At the same time, the Group has always conducted constructive communication with the US dollar priority notes issued by the US dollar (Scenery Journey Limited), which is issued by Scenery Journey Limited to promote the formulation of overseas debt restructuring plans.
In addition, China Evergrande has closely cooperated with creditors and relevant consultants and communicated regularly. It is conducting necessary and orderly due diligence in the core business of the group to explore potential and feasible overseas debt restructuring plans, due diligence investigationsInformation will be used as an important basis for formulating overseas debt restructuring plans.In view of the size and complexity of the group and the current status of the industry, due diligence is still being advanced.
China Evergrande emphasized in the announcement that the Group's real estate development business is widely involved in the region, and the real estate market in related regions in China is still being adjusted.It can be restored for a long time to restore the assets of all stakeholders.
In terms of the measures for overseas debt restructuring, China Evergrande said that the asset packets will be arranged as a guarantee measure for overseas debt restructuring in accordance with the law.The assets in the asset package may include but are not limited to the equity of overseas subsidiaries (such as Evergrande Automobile and Evergrande Property), which are not limited to the company's direct or indirectly held, and assets of the group's overseas debt claimers can pursue assets based on applicable laws and regulations.EssenceIn order to ensure fairness, the corresponding composition of the asset packets of each group of debt will be based on the legal structure of overseas debt, that is, the arrangement of the relevant asset package will fully consider the company’s assets and liabilities level, cash flow analysis company loan structure and various debt rightsContracts and legal priority, as well as any support from the company's shareholders.
Regarding the scope of overseas debt to be reorganized, China Evergrande said that including the US dollar bonds issued by Evergrande China; the issuance of Jingcheng Co., Ltd. and Tianji Holding Co., Ltd. provided a guarantee and Evergrande Real Estate Group Co., Ltd. provided equity.U.S. dollar priority notes for the acquisition of the acquisition; other overseas debts of the company and the company's overseas companies (including the guarantee and repurchase obligations undertaken by the company, or debt, such as: RV Ba Group related equity repurchase obligations, etc.).
For the next work arrangement, China Evergrande said that the group and their consultants encouraged overseas creditors to actively contact the group's financial advisory and will continue to coordinate with the contacted creditors and their consultants. According to the announcement, according to the announcementThe list of overseas debt restructuring as soon as possible is listed as soon as possible.It is expected that the Group's due diligence will be basically completed in the near future. At that time, the group will communicate with relevant creditors and their consultants to communicate the framework and suggestions of overseas debt restructuring plans, and hopes to announce the specific restructuring plan as soon as possible and make positive progress in 2022.At the same time, the group expects a constructive dialogue with domestic and foreign creditors to obtain timely support to better manage various businesses, treat domestic and foreign creditors fairly, and safeguard the rights and interests of all stakeholders in accordance with the law.
