Newsletter summary

Country Garden Group firmly through the market cycle, Chairman Yang Huiyan optimistic about the recovery of the industry, overseas restructuring is progressing smoothly. The company's medium-term notes "23 country Garden MTN001" and "23 country Garden MTN002" shall complete the interest payment within the grace period. The monthly contract sales in April is 3822acephcomThe cumulative sales in the first four months of this year are about 17.36 billion yuan.

Text of news flash

[country Garden Group emphasizes strengthening confidence, adhering to long-term doctrine, and striving to cross the market cycle] on May 13, the country Garden Group held a monthly management meeting, which is complex and changeable in the market.22acephcomUnder the background, the management of the group has expressed its firm confidence and determination to adhere to long-term doctrine. It was mentioned at the meeting that while trying to cross the market cycle, the group will focus on doing the right and difficult things. [Yang Huiyan: policy is gradually improving, the real estate industry will usher in spring] at the meeting, Group Chairman Yang Huiyan analyzed the current market situation and pointed out a series of recent measures taken by the government. such as the relaxation of purchase restrictions in first-and second-tier cities and "trade-in", etc., are aimed at improving market liquidity and restoring industry confidence. She stressed that although the industry is still at a low ebb, the policy is gradually improving, and the real estate industry is expected to usher in spring. [Yang Huiyan stressed that guaranteed delivery is the cornerstone of enterprises through the cold winter.] when talking about the strategies for enterprises to deal with market challenges, Yang Huiyan believes that relying closely on the government, actively responding to favorable policies, and taking guaranteed delivery as the political bottom line of enterprises is the key for enterprises to pass through the cold winter. She also revealed that despite the current test of the company, the balance sheet is still healthy and the market will improve as the policy continues to improve. Yang Huiyan also introduced the progress of the company's overseas restructuring. She said that the relevant work is being carried out in an orderly manner, the company has established a good communication and negotiation mechanism with creditors, and the overall progress is in line with the schedule. [interest payment of country Garden medium-term Notes] on May 11, country Garden Real Estate Group Limited announced that the interest payment of the interim notes "23 country Garden MTN001" and "23 country Garden MTN002" had been completed within the grace period. Prior to this, the company announced on May 9 that the 35.55 million yuan interest of "23 country Garden MTN002" could not be paid on time because the sales recovery was not up to expectations and it was difficult to allocate funds. However, through efforts, the company raised funds during the grace period, revitalized the mortgage assets, and finally paid the interest payable and interest during the grace period in full. Li Yujia, chief of Guangdong Provincial Institute of Urban Planning, talks about financing for housing enterprises. Li Yujia, chief of the Housing Policy Research Center of Guangdong Provincial Institute of Urban Planning, believes that although the financing docking mechanism has landed well, it is very important for housing enterprises to restore their self-hematopoietic function. He pointed out that only when the sales rebate accounts for more than 50% of the developers' funding sources, will financial institutions be willing to give continuous financing to the whitelist projects of real estate enterprises. Otherwise, even if the project itself is of high quality, it is difficult to avoid the spread of risks. [country Garden sales reached 3.85 billion yuan in April] although country Garden shares have been suspended from trading in the Hong Kong stock market since early April, the company's sales business has not been affected. According to the company's recent announcement, in April 2024, country Garden achieved 3.85 billion yuan in shareholder equity contract sales, with cumulative sales of about 17.36 billion yuan in the first four months. [Mo Bin, president of country Garden Group: ensuring delivery is the core task of the enterprise] industry insiders generally believe that for housing enterprises facing difficulties, debt reduction and guaranteed delivery are the most urgent tasks at present. Mo Bin, president of country Garden Group, also expressed the same view. He stressed that guaranteed delivery is not only the social responsibility of enterprises, but also the place of conscience. Mo Bin said that the company will take guaranteed delivery as its core task, actively strive for understanding and support from all parties, and work together with all parties to ensure the smooth progress of delivery.