Securities code: 600466 securities abbreviation: Sichuan Languang Development Co.Ltd(600466) Announcement No.: Lin 2022-002 bond Code: 136700 (16 Blu ray 01) bond Code: 162696 (19 Blu ray 08) bond Code: 163788 (20 Blu ray 04) bond Code: 155484 (19 Blu ray 02) bond Code: 155163 (19 Blu ray 01) bond Code: 162505 (19 Blu ray 07) bond Code: 155592 (19 Blu ray 04) Bond Code: 163275 (20 Blu ray 02) Sichuan Languang Development Co.Ltd(600466)
Announcement on partial debts of the company and its subsidiaries failing to be repaid on schedule
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
1、 Overdue debt
Recently, the company and its subsidiaries have added 1.858 billion yuan of principal and interest of debts that have not been repaid due (including 322.5 million yuan of principal and interest of corporate bonds that the company has failed to repay on December 13, 2021). As of December 31, 2021, the total amount of principal and interest of the company's debt due and outstanding totaled 27.739 billion yuan (including bank loans, trust loans, debt financing instruments and other debt forms). At present, the company is actively coordinating solutions with the above financial institutions.
2、 Reasons for overdue debts
Due to the superimposed impact of macroeconomic environment, industry environment and financing environment, since the end of 2020, the refinancing of the company's open market has been blocked, the return rate of operating cash has slowed down, and the company's liquidity has been strained at different stages. In addition, some financial institutions have announced their maturity in advance, resulting in the failure of the company to repay some debts on schedule. 3、 Impact of debt overdue and Countermeasures
The periodic shortage of liquidity of the company leads to overdue debts, which will have a great impact on the company's operation and financing. In order to resolve the company's debt risk, the company is fully coordinating all parties to actively raise funds and discuss various ways to solve relevant problems. At the same time, the company will formulate short, medium and long-term comprehensive solutions to actively solve current problems under the communication and coordination mechanisms such as creditor Committee and holder meeting.
The company will continue to pay attention to the progress of the above matters and fulfill the obligation of information disclosure in time.
It is hereby announced.
Sichuan Languang Development Co.Ltd(600466)
Board of directors
January 1, 2022
