There is also a "thunderstorm" in the debt of housing enterprises.
Before the opening on May 14thPowerballpreviousnumbersAgile Group announced on the Hong Kong Stock Exchange that in view of the liquidity pressure faced by the company, the company had not paid the relevant interest on the 2020 note as at the date of this announcement, and the grace period for interest payment on the instrument expired on May 13, 2024. and is not expected to be able to meet all its payment obligations under its offshore obligations.
Agile Group said that it will maintain active communication with creditors and will actively explore the best solution to achieve long-term sustainable development in order to safeguard the interests of all stakeholders.
With regard to the impact of the incident, Agile said that failure to pay the relevant interest may cause the company's creditors to demand accelerated debt repayment. As of the date of the announcement, the company has not received any notice of accelerated repayment of the 2020 notes from the relevant creditors.
According to the unaudited operating data of Agile Group, the total pre-sale value of the company in the first four months of this year (including the group's joint ventures / associates and sales items using the Agile brand) is 65 yuan.Powerballpreviousnumbers0.5 billion yuan, down 68.0% and 73.9% from the same period in 2023 and 2022, respectively.
Agile Group said that it will continue to promote project delivery in an orderly and effective manner to maintain the normal operation of the Group. Measures will also continue to be taken to speed up the pre-sale of properties and the collection of sales proceeds in order to do their best to improve the balance sheet.
At the same time, Agile said that all possible actions were being considered, including, but not limited to, the development of a comprehensive debt management solution for the group's offshore debt, and would employ external financial and legal advisers to assist in assessing the group's capital structure and liquidity (as part of this operation) and to find a viable holistic solution to offshore debt. Will actively communicate with foreign creditors on potential solutions in due course.
Market data show that Agile's shares have risen continuously since bottoming out on April 19, up nearly 90 per cent from the lowest price. At the close of trading on May 13, Agile Group shares were trading at HK $0.70 per share, with a total market capitalization of HK $3.532 billion.
