Hong Kong and Cayman courts approve Huarong's overseas debt restructuring

Huangyan Nian Holdings announced that the Hong Kong and Cayman Islands courts officially approved its overseas debt restructuring plan on March 12, and the effective date of the plan was determined to be March 13. This means that the restructuring plan has moved from the negotiation stage to a legally binding document, which imposes mandatory constraints on all creditors and effectively avoids individual objections delaying the process and increasing the cost of restructuring.