Last yearSunacFacing a thunderstorm due to the inability to pay due bonds,Sun HongbinIn the face of many pressures and difficulties, he almost disappeared from the spotlight. However, in this long 18 months,Sun HongbinIt took a lot of effort to ensure the company's sales and the stability of the team, and he went back and forth between the institution and creditors, and was even willing to offerUnlimited joint and several liabilityguarantee to finance. Sun HongbinIn this way, he showed his sincerity and determination to the creditors, and finally impressed the creditors and successfully reached the agreementDebtAgreement on reorganization. This timeDebtrestructuring program,Sun HongbinAt the expense of close to 10% of the shares, in exchange for concessions from creditors. Sun HongbinThe sacrifice shows that he is rightSunacof perseverance and rightDebtThe importance of restructuring also created an opportunity for him to re-ashore.
Sun HongbinThe 18 months of hardship are unknown to the outside world, and the pressures and challenges he faced during this time were greater than anyone could have imagined. In the context of the real estate industry in the cold winter,Sun HongbinIt is not only necessary to negotiate hard with creditors to ensureSunacsales, but also to stabilize the company's core team. These tasks are undoubtedly extremely enormous, butSun HongbinI didn't choose to give up, but chose to stick to it and work hard.
He was in order to giveSunacDebt, constantly running between institutions and creditors, in order to finance and even willing to provideUnlimited joint and several liabilityGuarantee. This kind of spirit and attitude of thinking about the company wholeheartedly regardless of personal gains and losses makes people sigh. Sun HongbinWilling toSunacBet on your entire net worth to show your commitment to the company's development and developmentDebtThe determination to reorganize, such sincerity also touched the creditors, so thatDebtThe restructuring can be successfully implemented.
In November of this year,SunacThe official announcement was issued, announcing that the restructuring plan has been successfully implemented. According to the announcement,SunacThe number of shares is from 549.4 billion shares rose to 839.3 billion shares, of which:Debtin reorganizationDebt-to-equity swapsThis is partly the main reason for the increase in equity capital. According to the announcement,SunacApproximately 190.4 billion U.S. dollars of conversion notices, bringing the total number of shares converted to 247.5 billion shares. Also, on November 20, 2023,SunacAlso towardControlling shareholderIssued 4$500 millionControlling shareholderBond.
DebtThe implementation of the restructuring plan is:SunacAn important step, tooSun HongbinThe fruits of the effort. PassedDebt-to-equity swapsSunacSuccessfully defused partiallyDebt, which brings new opportunities for the future development of the company.
Debt-to-equity swapsThe operation is a complex and difficult process that requires multifaceted consultation and negotiation with creditors. Sun HongbinIn order to convince creditorsSunacThe capacity for recovery and development prospects not only provideUnlimited joint and several liabilityguarantees, also demonstrated the company'sLand bankand project advantages. With the help of these strong supports,SunacFinally succeeded in reaching an agreement with creditorsDebtThe restructuring plan was implemented.
In the current situation where the real estate industry is generally facing difficulties, can other thunderstorm developers learn from XiSunacwithSun HongbinThe experience is worth it**. However, it is not easy to learn Xi them.
First of all, I want to learn XiSun HongbinSacrifice and perseverance require considerable courage. Sun HongbinCan choose to be with the company**, willing toSunacGambling on all your net worth, this kind of determination and courage to advance and retreat with the company is not something that everyone can have. It's not a wise choice for other developers to just lie down and leave it alone after a thunderstorm, but it's likeSun HongbinIt's not easy to give it your all.
Secondly,SunacThe reason why I canDebtThe success of the restructuring is also due to the company's sufficient capital support. SunacCurrently has a value of 138 trillion yuanLand bankMore than 70% of them are located in first- and second-tier cities, which have a good market foundation. In addition,SunacAlso has a number of quality items such as:SunacNo.1 Hospital, Dongjiadu Project, Yalong Project, FutureFinancial Cityprojects, etc., the unsold value of these projects exceeds 150 billion yuan. These strengths and capital support for:Sun HongbinwithSunacThe disembarkation provided a strong guarantee.
Although learning XiSun HongbinwithSunacThe experience is not easy, but for other developers who lie flat, the basic bottom line should still be kept in mind. Guaranteed delivery of the building forBuying a houseIt is the absolute bottom line and red line, so no matter what kind of predicament the developer faces, it cannot be in arrearsBuying a housedelivery time and quality.
In addition, developers should also uphold integrity and proactively communicate and negotiate with creditors. In the event of a thunderstorm, being able to proactively communicate with creditors and provide solutions can not only reduce follow-upLawsdisputes and risks, and the possibility of gaining the support and trust of creditors.
Most importantly, developers should pay attention to it during the development processRisk controland financial management, not blind expansion. Avoid borrowing too much, ensure that the company has sufficient funds, and carry out reasonable activitiesProject financing
In short,SunacwithSun HongbinThe experience has provided valuable inspiration for other developers, but it is not easy to really Xi learn and apply these experiences. Developers should keep in mind the principle of guaranteed delivery and good faith, and pay attention to:Risk controland financial management to ensure the steady development of the company.