China News Service, Hong Kong, December 3rd. China Evergrande Group (hereinafter referred to as the "Group") on the 3rd in accordance with the "Hong Kong Stock Exchange Limited Securities Listing Rules" and Hong Kong Law Chapter 571 "Securities and Futures Ordinance" on the Hong Kong Stock Exchange Published announcements.
The announcement stated that the group will actively communicate with overseas creditors to formulate a feasible overseas restructuring plan for all stakeholders.
The announcement stated that since September 2021, the group has been actively evaluating the company's capital structure and liquidity with financial advisors and legal advisors, exploring all feasible solutions, and maintaining continuous communication with overseas creditors.
In view of the current liquidity situation, the group is uncertain whether it has sufficient funds to continue to perform its financial responsibilities.
The group will consider its overall financial situation as a whole, respect all stakeholders, uphold the principles of fairness and legalization, and will actively communicate with overseas creditors to formulate feasible overseas restructuring plans for all stakeholders.
The announcement stated that on the date of this announcement, the company received a notice requiring the company to perform a guarantee obligation of US$260 million.
In the event that the group fails to perform guarantees or other financial responsibilities, it may cause creditors to demand accelerated debt maturity.
The announcement reminds that company shareholders and other investors must exercise caution when trading company securities.
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