Proposed to sell 28.9 billion debt at a 40% discount, CBHB intends to lighten its load

CBHB plans to sell its debt assets at a price not less than 17.672 billion yuan, equivalent to about 60% of the total amount. This is aimed at improving capital adequacy and enhancing liquidity. An impairment provision of approximately 7.415 billion yuan has been made, with a net debt amount of around 21.55 billion yuan. As of December 31, 2023, the assets to be transferred incurred an annual post-tax net loss of 1.188 billion yuan. The proceeds from the sale will be used for general operating funds to enhance asset quality and liquidity. Potential buyers include China Cinda, China Orient, China Great Wall Asset Management, China CITIC Financial Assets, Tianjin Jinrong Asset Management, and Tianjin Binhai Zhengxin Asset Management