Longguang Group's (03380) overseas debt restructuring plan was officially approved by the court

The Zhitong Finance App learned that on August 21, Longguang Group (03380) issued a notice on the latest progress in overall overseas debt restructuring, announcing that the company's petitions seeking court approval of the plan were heard in the Cayman Islands Court on August 4, 2026 and the Hong Kong High Court on August 13, 2026, respectively. On the date of the announcement, the Cayman Islands Court and the Hong Kong High Court have issued separate orders approving the plan.

According to the announcement, approval orders from the Cayman Islands Court and the Hong Kong High Court were submitted to the Cayman Islands Companies Registry and the Hong Kong Companies Registry on August 7, 2026 and August 21, 2026, respectively. Longguang's overall overseas debt restructuring plan came into effect on August 21, 2026. The final completion of the restructuring plan contained in the announcement must implement the prerequisites contained in the plan before the restructuring settlement can be completed.

After the completion of the restructuring at home and abroad, Longguang will continue to do a good job of stabilizing operation and securing housing delivery.