CRTG Advances Zhunxing Debt Restructuring with RMB6.88 Billion Capitalisation Plan
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China Resources and Transportation Group Limited (CRTG) is advancing its debt restructuring by converting approximately RMB6.88 billion of secured and unsecured debts into 49% equity of its subsidiary Zhunxing. The Debt Capitalisation agreement is legally binding, with determined creditors and shareholding structure. Additionally, RMB13.87 million of unsecured debts await cash settlement. CRTG is also seeking new financing to enhance liquidity. The implementation plan and amendments to Zhunxing’s Articles of Association are ongoing.
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