Understanding the Market | R&F PROPERTIES fell over 4% and plans to restructure domestic corporate bonds, recently removed from the Hong Kong Stock Connect list

R&F PROPERTIES fell over 4%, as of the time of writing, down 4.05% to HKD 0.71, with a trading volume of HKD 6.2197 million. On the news front, on the evening of September 10, R&F PROPERTIES announced that, in light of the current overall operating conditions of the company, it plans to preliminarily provide an overall domestic bond restructuring plan for domestic bondholders, including six options: cash buyback, debt-for-asset swaps, accounts receivable trust share swaps, asset trust share swaps, stock economic benefit rights redemption, and full debt retention with extended terms. It is reported that this domestic bond restructuring by R&F involves six bonds, with an outstanding principal balance of over RMB 12.2 billion. In the first half of this year, R&F PROPERTIES achieved a revenue of RMB 5.765 billion, a year-on-year decrease of 59.43%; the company's attributable loss to owners was RMB 4.046 billion, a year-on-year increase of 73.6%. In addition, announcements recently released by the Shanghai Stock Exchange and the Shenzhen Stock Exchange indicate that R&F PROPERTIES has been removed from the Hong Kong Stock Connect eligible list, effective from September 8