China Resources and Transportation Group Limited $(CRTG)$ has reported progress in its debt restructuring efforts. Approximately RMB6.88 billion of the company's secured and unsecured debts will be converted into 49% equity of its subsidiary Zhunxing through a legally binding Debt Capitalisation agreement. The creditors, debt amounts, and post-conversion shareholding structure have been definitively determined and are not subject to further disputes. Additionally, around RMB13.87 million of unsecured debts are pending settlement in cash, awaiting submission of relevant documentation from creditors. The implementation plan for the Debt Capitalisation and amendments to Zhunxing's Articles of Association are still in progress. CRTG continues to operate its core businesses as usual and is seeking new financing to improve its liquidity position.