Central China Real Estate Ltd. Settles RMB1.52 Billion in Disputed Loans and Extends RMB2.47 Billion Borrowings Amid Ongoing Restructuring Efforts
Reuters
Jun 30
Central China Real Estate Ltd. Settles RMB1.52 Billion in Disputed Loans and Extends RMB2.47 Billion Borrowings Amid Ongoing Restructuring Efforts
Central China Real Estate Ltd. has provided an update on its ongoing efforts to address financial challenges, including the settlement of outstanding litigations and management of its debt obligations. As of December 31, 2024, the company has settled approximately RMB1.52 billion, or 53%, of its disputed loans with financial institutions. In addition, the company has been negotiating with lenders to renew or extend borrowings, successfully securing extensions for approximately RMB2.47 billion of its debts. These actions are part of a broader strategy to resolve the auditors' disclaimer of opinion concerning the company's financial viability. The company remains actively engaged in seeking further financial resolutions to ensure its continued operations.
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