News summary
Xuhui Group plans to redeem the "PR Xuhui 01" bond on May 29jackpotworldcasinoHowever, funds are tight and plans to use the two-month grace period to raise funds to cope with the deep market adjustment and a 52% decline in sales.
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Xuhui Group faces pressure on debt repayment
Against the background of current market fluctuations, CIFI Group Co., Ltd. issued an announcement on May 22, announcing that it will pay the principal and interest portion of the "PR CIFI 01" bonds on May 29, 2024. According to the announcement, the company has activated the grace period clause, which is 2 natural months. Despite this, from January to April 2024, the company's contract sales fell by 52% year-on-year, demonstrating the impact of deep market adjustments on sales. CIFI Group is currently facing a tight capital situation and has not yet fully raised the full funds needed to repay the bonds. The company will use the grace period to try to raise the necessary funds.
