On March 4th, after a petition for liquidation sparked market panic and the stock price continued to decline, Yang Guoqiang and his daughter launched a new round of confidence defense.
At the monthly group management meeting, Yang Huiyan, the Chairman of COUNTRY GARDEN, stated that the company's founder and shareholders have never considered giving up. She also emphasized the exceptional quality of the company's team, standing together through tough times.
Despite the weak market recovery, COUNTRY GARDEN remains hopeful and is planning how to overcome the challenges ahead.
COUNTRY GARDEN's President, Mo Bin, expressed confidence that the market will eventually stabilize. &#34;In the face of the new normal in the market, it's about who can endure.&#34;
Yang Huiyan stressed that the company's top priority now is to ensure cash flow, reduce non-operating expenses, actively increase cash inflows through sales, and ensure sufficient funds to support deliveries and daily operations.
Ensuring deliveries is the bottom line that COUNTRY GARDEN adheres to and is a top priority this year.
After delivering over 600,000 housing units in 2023, COUNTRY GARDEN aims to deliver over 480,000 units in 2024. Yang Huiyan stated that the company's resources are currently sufficient to guarantee this year's housing deliveries.
However, COUNTRY GARDEN also acknowledged that the market continues to decline, putting the company's delivery commitments in a challenging position. While resources are enough to support deliveries this year, the issue lies in the mismatch of time and space.
Yang Huiyan proposed cherishing resources and waiting for the right time when the market rebounds.
The &#34;white list&#34; for real estate financing has provided COUNTRY GARDEN with more ammunition to get back on track fundamentally. As of March 3rd, COUNTRY GARDEN has 217 projects on the &#34;white list,&#34; with some projects already approved for bank loans.
Li Yujia, Chief Researcher at the Guangdong Housing Policy Research Center, stated that the effectiveness of the &#34;white list&#34; will effectively alleviate the funding stress of real estate companies, support project development and delivery, prevent risks from spreading, and send positive signals to the market.
Yang Huiyan emphasized that policy support is a crucial foundation for the company to tackle market challenges. The company must actively seek support from the government and financial institutions to establish a closed-loop of funds.
In response to pressure from creditors applying for liquidation, COUNTRY GARDEN is actively stabilizing operations and other creditors by disclosing progress on overseas debt restructuring and taking action.
In addition to strongly opposing the petition, COUNTRY GARDEN has taken a defensive measure. On March 4th, COUNTRY GARDEN announced that, based on the progress of its overseas restructuring, it will consider applying for a recognition order from the High Court.
This means that even if liquidated in the end, the share transfer actions taken after the liquidation application will still be valid.
In line with many real estate companies, COUNTRY GARDEN is not only trying to cope with the current challenges but also seeking long-term survival and development.
The next two years are crucial for COUNTRY GARDEN.
Yang Huiyan stated that the repair of the balance sheet is essential for the company's survival. The next two years will be a critical period for COUNTRY GARDEN to restore its balance sheet. It is important to make good use of this time to optimize the balance sheet structure, so that when the market recovers in the future, there will be a stronger foundation for development and growth.
Currently, COUNTRY GARDEN still maintains a relatively good fundamental position. In January and February, COUNTRY GARDEN achieved a total sales volume of 12.17 billion yuan, ranking tenth in the industry and first among distressed real estate companies.
In the current market environment, it takes more courage and responsibility to hold on rather than to give up.
The attitude of facing problems and striving for self-rescue shown by Yang Guoqiang, Yang Huiyan, and the management team is increasingly commendable. They also hope to gain understanding from creditors. With the support of creditors, they aim to be among the minority who successfully complete debt restructuring and make a comeback.
Fortunately, policies are gradually becoming more favorable, and the market is slowly awakening from its winter slumber. Real estate companies with determination and action, along with their controlling shareholders, can seize opportunities and lay a more solid foundation for navigating through market cycles.

COUNTRY GARDEN is entering a critical two-year period.