34 listed real estate companies have reduced their debts by 890 billion yuan, with good projects becoming the key to "blood generation".

As of now, 34 real estate companies listed in both Shanghai and Hong Kong, mainly operating in mainland China, have disclosed their financial reports. According to Wind statistics, the total debt of these 34 companies decreased by approximately 890 billion yuan to 6.47 trillion yuan by the end of 2025 compared to the previous year. As annual reports continue to be disclosed, industry insiders predict that the real estate industry is expected to achieve a second consecutive year of reducing its trillion-yuan debt scale in 2025. In the performance explanation activities, financial security issues have become the focus of discussion among real estate companies. Chen Xuping, Chairman and CEO of Longfor Group, stated that the core goal of Longfor Group in recent years is to deeply integrate business and debt adjustments. Over the past three and a half years, Longfor has reduced interest-bearing debt by 60 billion yuan. In 2025, troubled real estate companies achieved extensive debt restructuring, resolving credit bond risks. According to data from the China Real Estate Institute, as of the end of last year, a total of 21 troubled real estate companies had their debt restructured and reorganized, with a total debt restructuring size of approximately 1.2 trillion yuan. Debt restructuring measures include cash tender offers, debt-for-equity swaps, full-term extensions, and debt-to-equity conversions. Jinke Group, as the first large-scale real estate listed company in the country to undergo restructuring, was included in the Supreme People's Court's "2025 Annual Typical Cases of Civil and Commercial Law".