COUNTRY GARDEN (SEHK: 02007) made a payment of $14.34 million USD (approximately RMB 97.51 million) one day ahead of schedule on June 29th, depositing the funds into a designated account for the first interest payment following the effective date of its overseas debt restructuring.
The company's approximately $17.7 billion offshore debt restructuring officially took effect on December 30th, 2025. In the first week of January 2026, the developer paid a total cash consideration of roughly $398 million (over RMB 2.7 billion) to creditors participating in the restructuring.
The conversion of Country Garden's convertible bonds, a core component of the restructuring consideration, is also being accelerated. According to a share issuance statement disclosed by the company on June 29th, the cumulative number of shares issued has reached 46.33 billion. Following the implementation of the restructuring plan, approximately 18.34 billion new shares have been issued, nearing 65.5% of the total shares issued prior to the restructuring.
The company stated that since the overseas debt restructuring plan became effective, it has consistently prioritized protecting the lawful rights and interests of all creditors, methodically advancing arrangements for fulfilling debt obligations throughout the entire process, and honoring restructuring commitments with tangible financial payments.
The timely payment is underpinned by a shift in the company's operational tempo. Management had previously identified 2026 as the most critical year for transitioning from a "ensuring home delivery" focus to "normal operations," aiming to complete the majority of delivery tasks by mid-year before fully shifting focus to repairing the balance sheet and resuming standard business activities.
According to the company, with the delivery of nearly 1.85 million housing units accumulated between 2022 and 2025, the peak period for rigid cash outflows is receding.
It was noted that this year, Country Garden's Chairperson, Yang Huiyan, has been conducting high-frequency on-site inspections and research at project fronts. She has also personally led the establishment of a specialized project management office (PMO) for product research, development, and design.
At a management meeting in May, Yang Huiyan set the tone for her 2026 work attitude with an "ALL IN" approach. She emphasized that only through solid breakthroughs this year can a clear path be paved for the following years.
During the May management meeting, she directed regions with quality resources to proactively align with policy directions, fully revitalize existing resources, and seize opportunities in urban renewal and housing demand from younger generations.