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There is no winter that is insurmountable, and there is not a spring that will not come. After more than 600 days of hard work, the "Guo Contracting" brothers of China Aoyuan finally ushered in the dawn of extrication.
China Aoyuan recently held an overseas debt meeting as scheduled, and the company's overseas debt restructuring plan was voted on, coupled with the completion of the domestic debt extension in September this year, China Aoyuan is expected to become another real estate company to complete the restructuring of domestic and foreign debts after Sunac, and will also be the first "risk-out" Guangdong real estate enterprise to complete the restructuring.
Exchanging time for space, Aoyuan became the first Guangdong real estate company to successfully reorganize
Guo Ziwen (2nd from left) and Guo Zining (2nd from right), founders of China Aoyuan
China Aoyuan has taken the most solid step forward from the moment of dismantling domestic and foreign debts and completing domestic and foreign debt restructuring. After more than 600 days of hard work, for the founder of AoyuanGuo Ziwen and Guo Zining Kunzhong said that this is a pretty good result, and they have finally ushered in the dawn of getting out of trouble, and they have fulfilled that sentence."There is no winter that is insurmountable, and there is not a spring that will not come.
China Aoyuan (03883.)HK) held a planned meeting of overseas creditors on the evening of November 28 as scheduled, and it is reported that the two offshore debt restructuring plans launched by the company received the voting rights respectively. 31% voted in favor.
This move also means that China Aoyuan has taken a key step towards completing the restructuring of its overseas debts, which will take effect after the relevant court ruling. For Guo Ziwen and Guo Zining, the two founders of China Aoyuan, the restructuring of overseas debts in the form of "debt-to-equity swap" and the exchange of time for space finally ushered in the dawn of extrication after more than 600 days of hard work.
It is worth mentioning that China Aoyuan has completed the restructuring of all domestic public debts in September this year, so far, China Aoyuan is expected to become another real estate company to complete domestic and foreign debt restructuring after Sunac, and will also be the first Guangdong real estate enterprise to complete debt restructuring, which is also of good exemplary significance for Guangdong real estate companies such as Kaisa and Logan Real Estate to seek relief.
Guo Ziwen, founder and former chairman of the board of directors of China Aoyuan.
Guo Ziwen, the founder and former chairman of the board of directors of China Aoyuan, known as "Guo Contractor", has previously carried out extremely difficult self-rescue in order to get China Aoyuan out of debt difficulties and capital chain problems, such as "surviving with a broken arm" and transferring a controlling stake in Aoyuan Health.
On July 18 this year, Aoyuan Health announced that China Aoyuan started with 2The transaction consideration of HK$5.6 billion was transferred to "Nanyue Xingqiao"**Aoyuan Health's 29After 9% of the shares, it has changed from the single largest shareholder of Aoyuan Health to the second largest shareholder of Aoyuan Health. "Nanyue Xingqiao" is a state-owned background of the enterprise, although China Aoyuan lost a controlling stake, but through the equity, but also solved the most urgent liquidity problem, for the former controlling shareholder of China Aoyuan, in addition to the Aoyuan health ** brand transaction, in accordance with the transaction agreement, but also conducive to the simultaneous promotion of China Aoyuan in Guangzhou and the Guangdong-Hong Kong-Macao Greater Bay Area renovation projects.
China Aoyuan, which has a large amount of urban renewal land reserves in the Greater Bay Area, actively introduces state-owned assets to become shareholders, which not only alleviates financial pressure and creates favorable conditions for promoting domestic and foreign debt restructuring, but also helps to resume normal operations as soon as possible and promote the work of "resuming work and production and ensuring the delivery of buildings".
In May this year, Aoyuan Group announced a blockbuster news, announcing the dismissal of Guo Ziwen, Guo Zining, and Chen Zhibin as directors of the company, as well as the removal of Guo Zining as chairman and Guo Ziwen as vice chairman of the board of directors.
It is necessary to mention that the main path of the overseas debt restructuring plan promoted by China Aoyuan is in the form of "debt-to-equity swap", which is not only conducive to the approval of the restructuring plan, but also through equity dilution, so that it does not have to spend scarce funds to cope with the pressure of overseas debt repayment for the time being, and can free up more energy to resume normal business operations in the future.
As Guo Ziwen said before, "midnight will eventually end, spring will finally come", I hope that China Aoyuan, which ushered in the dawn of getting out of trouble, can "learn from the pain" in the future, enhance the ability to resist risks, deepen corporate governance, and make itself grow more steadily
To be a man, you would rather die in the sea than in the ditch!
Guo Ziwen, the founder of China Aoyuan and known as "Guo Contracting".
Guo Ziwen, the founder of China Aoyuan and known as "Guo Contracting", once said: ".When you come to this world, you must do a big thing, and you must die in the sea rather than die in the ditch.
Many years ago, China Aoyuan has been known for its "silent cultivation" and "steady progress" in the real estate field, and was once regarded as a typical "modest" of Guangdong real estate enterprises.
China Aoyuan was founded in Guangzhou in 1996, the company was listed on the Hong Kong Stock Exchange in 2007, compared with Evergrande, Country Garden and other "chong chong" Guangdong real estate companies, Guo Ziwen and the same founder of the eldest brother Guo Zining seem to be "warm" a little, missing the "** era" of Aoyuan, until 2019 to enter the 100 billion real estate enterprise club.
To the surprise of "Guo Contracting" Kunzhong, after the peak, there was a cliff, and China Aoyuan broke out at the end of 2021 with a liquidity crisis, becoming one of the first batch of real estate companies to explode. The sudden epidemic did not slow down the pace of expansion of Guo Ziwen's brothers, but instead "went against the wind", took land with a lot of money, tossed it several times, and fell into the debt quagmire.
Fortunately, "opening the road in the mountains and building bridges in the water", these more than 600 days, China Aoyuan has survived, and this time it is extremely fortunate to become the first real estate company in Guangdong to complete the debt restructuring at home and abroad after Sunac, after all, all the efforts and efforts have not been disappointed.
Guo Zining, founder and former vice chairman of China Aoyuan.
Guo Ziwen, born in 1964, is originally from Panyu, Guangdong, and his brother Guo Zining, the former vice chairman of Aoyuan, is three years older than him.
Guo Ziwen's brother, who was born in a family of teachers, lost his father in childhood. Guo Ziwen, in his early years, worked as a workshop electrician, but also worked as a designer, and later worked in Panyu County Tourism Corporation, because he was diligent and practical, flexible and flexible, and was highly valued by the leadership, he was promoted to assistant to the general manager.
In 1996, after the "Southern Tour Speech", Guangdong ushered in a new wave of reform, and the Guo brothers also ushered in an important turning point in their lives. Later, Guo Ziwen and his brother Guo Zining joined forces to obtain the right to contract the real estate company through bidding, which was the starting year of China Aoyuan, and Guo Ziwen also got a nickname of "Guo Contracting".
In that year, his brother Guo Zining served as a member of the Party Committee and director of the Party and Government Office of Guangdong Meishan Sugar Corporation.
The Olympic Garden in Guangzhou was the earliest successful case of Aoyuan's "composite development model", and since then, Aoyuan's development model has also been used as a reference by real estate companies such as Wanda and Country Garden. When they first started, Guo Ziwen's brothers started from scratch, with no funds, no brand and development team, and even the first contract of 50,000 yuan was obtained by borrowing and lending.
Guo Ziwen later said: "Entrepreneurs from other places do business from head to toe, and entrepreneurs from Guangdong are from head to head. It vividly describes the form of Aoyuan's grass creation back then.
Guo Ziwen. Over the years, Guo Ziwen and his brother Guo Zining have worked together to become a good story of "brothers" in the real estate industry.
The successful restructuring of Aoyuan is not easy to say, but there is still a long way to go if it wants to really turn around and embark on the broad road of sustainable and steady operation.
Aoyuan can become the first "risk-out" Guangdong real estate enterprise to complete the restructuring, in addition to the policy warmth, but also because of the support of local state-owned assets to actively help "defuse bombs" and other positive measuresIn addition, it is also related to the sincere attitude of the Guo Ziwen brothers, who do not evade or give up in the face of difficulties and pressure.
The approval of Aoyuan's offshore debt restructuring plan is due to the voluntary transfer of 400 million shares** by the major shareholder, and the use of all overseas assets and part of the overseas assets as credit enhancement, which is also an important reason for gaining the trust and support of overseas creditors.
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