According to the announcement released by Yango Group Co.Ltd(000671) , due to the superposition of macroeconomic environment, industry environment and financing environment, the company’s liquidity is tense at different stages. As of the date of this announcement, the company failed to pay the interest of USD 1387500 on the overseas bond xs2100664544 and USD 13387500 on the overseas bond xs2203986927 within the 30 day exemption period (i.e. February 15, 2022).
Screenshot of Yango Group Co.Ltd(000671) announcement
The announcement said that the above matters may trigger the relevant provisions of domestic bonds and other products. The company will hold a bondholder meeting in accordance with relevant regulations and continuously evaluate the impact of the above matters on the company’s law, finance and operation. Meanwhile, the company is seeking legal advice on the above matters with a view to dealing with relevant matters in an appropriate manner. In addition, the company has also made continuous efforts to obtain funds through various ways to repay the arrears. The company will continue to pay attention to the progress of these matters and timely perform the obligation of information disclosure in accordance with the provisions of relevant laws and regulations.
The official website of Yango Group Co.Ltd(000671) shows that its main business covers real estate development, commercial operation, property services, urban renewal, etc. With the strategic goal of “scaling up the scale and building a benchmark with quality”, focusing on the new residential product strategy of “green smart home”, and the product concept of “reliable quality, green health, convenience and safety”, it has arranged more than 100 cities across the country and built nearly 500 high-quality projects with ingenuity. In 2020, Yango Group Co.Ltd(000671) achieved a sales amount of 218 billion yuan, and its comprehensive strength ranked among the top 15 real estate in China.
The Yango Group Co.Ltd(000671) announcement also shows that the company did not obtain land projects in January 2022. (end)
