Powerlong Real Estate Holdings Limited (Stock Code: 1238) announced that the restructuring proposal for six onshore corporate bonds and asset-backed securities issued by its subsidiary, Shanghai Powerlong Industrial Development (Group) Co. Ltd., has been approved by the relevant bondholders.

The approved plan adjusts principal and interest repayments and offers options such as repurchase, asset-for-debt, stock, and general creditor claim. The next step involves arranging for bondholders to make their selections and allocations under the onshore restructuring proposal.