HK Stock Market Move | COUNTRY GARDEN (02007) rose nearly 9% with sales exceeding 22 billion yuan in January, as the company continues to advance its debt restructuring process.

COUNTRY GARDEN (02007) rose in the final trading session, closing up 8.75% at HK$0.435 with a turnover of HK$1.33 billion. On the news front, on February 10, COUNTRY GARDEN announced that it achieved a total contract sales of approximately RMB 22.6 billion in January. During COUNTRY GARDEN's first monthly management meeting this year, it was mentioned that regular sales are the main source of the company's current cash flow. The management emphasized that only through continuous sales growth can the company have enough funds to support the smooth progress of housing projects. It is worth noting that Liu Shui, director of corporate research at the China Index Institute, analyzed that COUNTRY GARDEN has taken an important step in restructuring its overseas debt. If this plan can be implemented, it will significantly reduce COUNTRY GARDEN's leverage. According to the key terms of the restructuring proposal released by COUNTRY GARDEN, the company has reached a consensus with a coordination committee composed of seven reputable banks, aiming to implement the group's overseas debt restructuring plan.