Ascendas-Singbridge Group CFO: Ensure consistency in domestic and international restructuring plans, recommend that foreign creditors give priority to debt-to-equity swaps.

Xuhui Holdings Group held a meeting for overseas restructuring creditors. CFO Yang Xin stated that the restructuring plan for domestic corporate bonds will be based on the company's situation, cash flow structure, and capital composition, and will refer to overseas restructuring models and domestic cases of top real estate companies to ensure overall consistency of domestic and overseas restructuring plans. Regarding the restructuring methods, Yang Xin mentioned that the mainstream option for overseas restructuring plans is debt-to-equity conversion, while the mainstream option for domestic restructuring is debt-for-equity swap. It is expected that after completing the restructuring of domestic and overseas debts, Xuhui's credit bond scale will be reduced by over 50% to within 30 billion yuan, and the duration of existing credit debts will be extended to 9-10 years, with interest rates also reduced to a level that the company's operations can afford. Yang Xin recommended that overseas creditors give priority to debt-to-equity conversion. Yang Xin explained that the liquidity of stocks is better than that of interest-bearing debts, and they also have potential for value appreciation; debt-to-equity conversion can optimize the company's capital structure and provide creditors with a flexible exit channel and future value appreciation.