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| HSI1 | 22,881.02 | -145.66 | 308.05B |
| HSCEI1 | 7,558.30 | -47.04 | 109.39B |
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2026-06-30 10:48:27 CIFI HOLD GP (00884.HK) announced that since consummation of the Scheme (a restructuring of the Group’s offshore indebtedness through a scheme of arrangement), the PRC real estate sector has continued to face challenging conditions, which have adversely affected the Group’s operations, liquidity and access to funding. At this juncture, the Company and the Group continue to face significant liquidity pressure. The Company has been actively pursuing the disposal of its investment property in London. The disposal process had made progress during the first quarter of 2026. However, the proposed disposal has been adversely affected by factors outside the control of the Company, including unfavourable market conditions and the impact of geopolitical tensions, which have materially affected market sentiment, purchaser appetite and timing of the transaction. The Group has explored alternative funding sources with a view to meeting its payment obligations under the Scheme. Despite these efforts, the Group has not been able to obtain sufficient financing resources in the prevailing market environment. Accordingly, the Company regrets that it has been unable to make payment of the Option 2 Minimum Cash when it fell due. This constitutes an event of default under the new instruments issued pursuant to the Scheme. The Company has carefully considered the situation, and in order to ensure fair and equitable treatment of its creditors and relevant stakeholders, the Company does not expect to make, with effect from 29 June 2026, cash payments of all future instalments of Option 2 Minimum Cash; and all principal and interest that has or will become payable on all offshore financing obligations. ~ AASTOCKS Financial News Website: www.aastocks.com | |