Yang Huiyan responds to CG SERVICES' 1 billion yuan loan

On May 9th, Country Garden Group held its monthly management meeting. Recently, the controlling shareholder of Country Garden Group pledged all shares of Country Garden Services as collateral to borrow RMB 1 billion, which will be directed towards domestic housing delivery work. In response, the group's chairman Yang Huiyan stated that this is a significant, resolute, and decisive decision. Selling assets to ensure housing delivery and quickly restoring normal operations for the company is the firm goal of the founder and controlling shareholder, and we are confident that the company can return to normal operations. The meeting also revealed that the restructuring of Country Garden's overseas debt is progressing in an orderly manner. As of May 9th, according to the announcement, holders representing more than 50% of the total principal amount of existing public notes have joined the restructuring support agreement