According to the Securities Times, the real estate industry is still in a chill. According to the semiannual report data of 2022 disclosed by housing enterprises, there are only a handful of enterprises with positive growth in revenue and net profit, and the sharp decline in profits has become the norm in the industry. According to the reporter's statistics, of the 194 A-share and Hong Kong stock real estate enterprises that have issued semi-annual reports, the net profit has dropped by 141, accounting for 73%. In addition, the financial reports of 19 real estate enterprises, such as Evergrande and Sunchuang, have not been released for a long time. The unsatisfactory return of funds and the tight financing environment have led to an increase in credit risk in the real estate industry, including "financial products" payment crisis, bond extension, deferred interest payment, substantive default and so on. As of September 19, the default scale of the balance of real estate bonds, including rollover, reached 134 billion yuan, involving 30 bond issuers. In order to break the negative cycle and improve credit, in the face of debt capping, most housing enterprises try their best to reduce debts. On the one hand, they increase sales and disposal of assets to actively withdraw funds; on the other hand, they discuss the extension period by communicating with creditors in advance to avoid triggering cross-default clauses and exchange time for room for capital turnover. In addition, there are war investment measures such as the introduction of state-owned enterprises and central enterprises to obtain financial support.