Zhengrong Real Estate Holdings: The company is still facing liquidity issues, and the outstanding corporate bonds have been exempted from cross-default clauses.

On April 14, Zhengrong Real Estate Holdings Limited issued a notice stating that as a joint debtor, the company is required to pay off 30% of the interest and principal from April 22, 2023 to April 22, 2024 for the Zhongshan-Ping An-Rongjun Supply Chain Finance No. 9 Asset Support Special Plan after capitalization of interest. The company failed to raise the full debt repayment funds of 11.3029 million yuan within the 50 working days plus 9-month grace period given by the previous controlling asset-backed securities holders meeting. As of the date of this announcement, the company has not fully repaid the interest of 11.3029 million yuan for the HPR9 excellent installment repayment. The company is required to pay off 2131.78 million yuan of principal and interest in installments for the public issuance of corporate bonds by Zhengrong Real Estate Holdings Limited on January 27, 2026. However, the company failed to raise the full debt repayment funds within the 50 working days grace period given by the previous holders meeting. As of the date of this announcement, the company has not fully repaid the cumulative principal and interest of 3073.7 million yuan for the H20 Zhengrong 2 excellent installment repayment. Zhengrong Real Estate Holdings stated that as an important domestic subsidiary of Zhengrong Real Estate, the company is currently under significant pressure in terms of overall operation and debt repayment capacity, and is still facing liquidity issues. The company's existing corporate bonds have been exempted from the cross-default clause. The above matters may have adverse effects on the rights of bondholders, and the company will communicate and negotiate with bondholders, actively carry out debt resolution work, accelerate the formation of solutions, and strive to reach an agreement with bondholders to ultimately form a proper resolution.