Jingye Mingbang Group (02231) issued an announcement. After the performance announcement date, the group has repaid a number of subsequent default loans...
According to Zhitong Finance App, Jingye Mingbang Group (02231) issued an announcement. After the performance announcement date, the Group has repaid a number of subsequent default loans of RMB 75 million and successfully obtained the consent of the remaining creditors of the initial default loans and subsequent default loans to extend the principal and interest repayment dates of such loans, and also successfully obtained the consent of creditors of other loans to extend the interest repayment dates for related loans. Accordingly, as of the date of this announcement, the Group no longer has any payments due immediately. Furthermore, as of the date of this announcement, the Group has obtained the consent of the holders of the 2025 Notes to waive any default events arising or likely to arise from the Group's other liabilities under the 2025 Notes.
To meet its current and future loan repayment obligations, the Group will continue to implement relevant plans and measures to expedite the pre-sale and sale of its buildings and completed properties for sale, and to expedite the return of outstanding sales proceeds. The Group will closely monitor the construction progress of its property development projects in an effort to ensure that construction and related payment responsibilities are met and the relevant properties sold through pre-sale arrangements are completed and delivered to customers as planned, so that the Group can release restricted cash payments to meet other financing obligations. The Group will also continue to seek alternative financing and loans to cover its existing financing obligations and finance future operating expenses.