(Foshan Comprehensive News) After the Chinese real estate giant Country Garden was in debt crisis, the founder Yang Guoqiang showed up a few days ago.It is reported that the Yang family has sold private planes to solve the urgent need.
Comprehensive Surging News, Finance News Agency, Chinese Entrepreneur Magazine, etc., Country Garden WeChat public account published an article on Friday (October 13), saying that the group founder Yang Guoqiang and president Mo Bin went to Shunde, Guangdong on October 11The second project of the two projects in the west plot of Beizhen Nanping Road.
A 20 -second live video in the manuscript, Yang Guoqiang wore a red helmet and was talking to the workers.
This is the second time that Yang Guoqiang's retirement of "Passing Baseball" to her daughter Yang Huiyan has appeared for the second time since March this year.The last time was in April this year, he received the Hong Kong government and the Legislative Council's delegation from the Foshan Regiment as the founder.
Surging News quoted a number of insiders from Country Garden that the Yang family recently provided Bigui Garden with a notice of US $ 300 million (S $ 410 million).
Mo Bin revealed at the group executive meeting held on October 9 that the Yang family was selling private planes under the name.The CCP quoted people familiar with the matter confirmed that "one has been sold and the other is still selling."
People familiar with the matter said that from the perspective of the current company's operation, this move increased the company's cash flow, and it also supports the company's sustainable operation to a certain extent.
According to the announcement of Country Garden on August 10, its controlling shareholders and their families have supported the company's approximately HK $ 38.6 billion (S $ 6.75 billion) through borrowing, increasing their holdings, purchasing bonds, and replacement of shares.It has never reduced stocks, among which the company has provided a total of approximately HK $ 6.6 billion in interest -free and unsecured borrowings.
Country Garden said on October 10th that it has not paid the debt of the debt of HK $ 470 million, and it is also expected that all overseas debt payment obligations cannot be performed on schedule or within a time limit.The company has appointed a plan for financial and legal consultants, indicating that Country Garden has been in the process of reorganization of overseas debt.
With the peak of debt repayment next year, debt restructuring will become the normal strategy of housing companies.However, according to Reuters, China's real estate creditor's situation is becoming increasingly difficult.According to statistics from JP Morgan, developers with 40%of Chinese house sales since 2021 have owed debt.
