Is Country Garden in debt?

As of August 8, 2023, Country Garden claimed that it had no debt.

According to media reports on August 8, it was confirmed by people familiar with the matter that Country Garden still failed to pay coupons for two US dollar debts due on August 7. Both bonds are listed on the Singapore Stock Exchange, with an issuance scale of US$ 500 million, maturities of 5.5NC3.5 and 10NC5 respectively, and maturities of 6 February 2026 and 6 August 2030 respectively.

In this regard, the reporter learned from sources that due to the recent deterioration of the sales and refinancing environment and the supervision of various funds, Country Garden's book available funds continued to decrease, and there was a phased flow pressure. "These two US dollar bonds are still within the 30-day grace period. The company attaches great importance to the resolution of debt risks. The company is still actively optimizing capital arrangements and striving to protect the legitimate rights and interests of creditors. "

In addition, the person also said that since 20021,the industry has been in a continuous downturn and multiple unfavorable factors have superimposed, resulting in a continuous decline in industry sales, failure in open market financing, and the industry has entered an unprecedented difficult period. Country Garden has been sticking to it. At the same time, the company makes every effort to ensure delivery, fair exchange and safety. "In 2022, the total delivered houses were close to 700,000 sets. The company expects to deliver 700,000 houses this year. In the first half of the year, 278,000 sets of delivery tasks have been successfully completed, and the delivery volume continues to be the first in the industry, with no overdue delivery. "

Country Garden donates money to the whole society.

On the evening of July 30th, Country Garden announced that Yang Xiang, the controlling shareholder, non-executive director and chairman of the board of directors of the company, donated 675 million shares to Guoqiang Public Welfare Foundation (Hong Kong) for charitable purposes, accounting for about 20% of the company's issued shares. According to the total market value of HK$ 32.2./kloc-0.4 billion at the close of the last trading day before the announcement (July 28th), the value of donated shares is about HK$ 6.443 billion. It is reported that since the first large donation of 1997, Yang Guoqiang and Yang have donated more than/kloc-0.05 billion yuan to charity in the whole society.

Regarding this donation, Country Garden responded to the reporter that the donated shares will be used to support public welfare purposes such as science, education, culture and health, youth development, funding for vulnerable groups, disaster relief in the Mainland and rural revitalization in Hong Kong and Guangdong-Hong Kong-Macao Greater Bay Area. "Ms. Yang and her father have been actively involved in social charity for more than 20 years, and their family, holding companies and foundations have participated in social charity donations totaling more than 654.38+005 billion yuan. The purpose of this move is to do public welfare for a longer and more sustainable period, so that public welfare projects can obtain a more stable material security foundation. "