On April 11th, Country Garden announced on the Hong Kong Stock Exchange that it has reached an agreement with the special task force on the main terms of the restructuring proposal, which accounts for 29.9% of the total principal amount of the existing bond debt. The members of the special task force have signed a restructuring support agreement. Our company is also nearing completion of negotiations with several members of the coordination committee. After the negotiations are completed, these members will proceed with internal procedures to obtain relevant approvals for the execution of the restructuring support agreement. The signing of the restructuring support agreement represents a significant milestone for our company in exploring a comprehensive solution to its overseas debt.
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