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Equity Bottom-Up

Guangzhou R&F Properties / Equity Bottom-Up

<ul><li>Guangzhou R&amp;F Properties Co. Ltd. has 48.1 billion yuan ($6.6 billion) of debt due within a year with less than 10 billion yuan on hand as of the end of June, the southern China property developer disclosed.</li><li>Even though R&amp;F extended some debt last year, its first-half financial report showed that it is still mired in a liquidity crisis. R&amp;F Properties delayed payment of 46.7 billion yuan of domestic and offshore bonds in 2022 for three to four years.</li><li>The developer reported a net first-half loss of 5.1 billion yuan, 26% narrower than a year ago.</li></ul>

Guangzhou R&amp;F Properties Co. Ltd. has 48.1 billion yuan ($6.6 billion) of debt due within a year with less than 10 billion yuan on hand as of the end of June, the southern China property developer disclosed.Even though R&amp;F extended some debt last year, its first-half financial report showed that it is still mired in a liquidity crisis. R&amp;F Properties delayed payment of 46.7 billion yuan of domestic and offshore bonds in 2022 for three to four years.The developer reported a net first-half loss of 5.1 billion yuan, 26% narrower than a year ago.

R&F Properties Outlines Looming Debt Crisis