Risesun Real Estate Development (002146.SZ) plans debt restructuring to resolve USD bond principal equivalent to approximately RMB3 billion and corresponding interest

Risesun Real Estate Development (002146.SZ) announced that its wholly-owned subsidiary, Rongchangda Development (BVI) Co., Ltd. (hereinafter referred to as the "Issuer"), issued two USD-denominated bonds offshore in 2022 (collectively referred to as the "Target Bonds"), which are listed on the Singapore Exchange (SGX-ST). As of September 29, 2026, the outstanding principal balance of the Target Bonds was approximately US$845 million, with accrued unpaid interest of approximately US$89 million. To optimize the debt structure of the Company and its offshore subsidiaries, alleviate the immediate repayment pressure on offshore debt, and mitigate offshore debt risks, the Company plans for the Issuer to launch, outside of China, a Pure Exchange Offer to eligible holders of the Target Bonds, with "cash + equity interests in offshore real estate projects" as consideration, to repurchase and cancel the Target Bonds validly tendered by holders and accepted. This restructuring is intended to resolve USD bond principal equivalent to approximately RMB3 billion and corresponding interest of RMB299.46 million. This debt restructuring repurchases and cancels the offshore bonds with cash and equity interests in offshore real estate projects as consideration, rather than primarily through immediate large cash repayment by the Company. It can effectively alleviate the immediate cash repayment pressure on the Company's offshore debt, reduce the scale of interest-bearing liabilities, optimize the debt structure, and help the Company mitigate debt risks, maintain normal operations, and promote sustainable and stable development.