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Guorui Properties Ltd ( (HK:2329) ) has shared an announcement.
Glory Health Industry Limited has provided a quarterly update on efforts to address the disclaimer of opinion issued by its auditors on the 2024 consolidated financial statements, which stemmed from doubts over the group’s ability to realize assets and meet liabilities in the normal course of business. Since its last update, the group has secured an extension approval from Bank of Tianjin on a RMB1.314 billion loan, but broader debt restructuring talks with financial institutions and other creditors remain ongoing. Several key asset disposal and project transfer initiatives, including the overall transfers of its Shenyang company and Foshan Shengpingli project, the sale of Beijing North Fifth Building, and the disposal of Hainan Yunlong Property, are still in the stage of seeking buyers and negotiating terms, with management indicating that successful completion would ease liquidity pressures and significantly reduce total debt. The group is also continuing applications to relevant government authorities for the return of land tied to its Shenyang and Chongming Island projects, and has pledged to make further announcements as material progress is achieved, underscoring the critical importance of these measures for its financial stability and creditor confidence.
The most recent analyst rating on (HK:2329) stock is a Hold with a HK$0.12 price target. To see the full list of analyst forecasts on Guorui Properties Ltd stock, see the HK:2329 Stock Forecast page.
More about Guorui Properties Ltd
Glory Health Industry Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through subsidiaries in the PRC with a focus on property-related projects, including health and mixed-use real estate developments across cities such as Shenyang, Foshan, Beijing and Hainan.
YTD Price Performance: 13.39%
Average Trading Volume: 1,282,490
Technical Sentiment Signal: Hold
Current Market Cap: HK$640M
See more insights into 2329 stock on TipRanks’ Stock Analysis page.