--- title: "In the first two months of \"Domestic Real Estate,\" SHIMAO achieved contract sales of 2.811 billion RMB and delivered a total of 300 housing units" type: "News" locale: "en" url: "https://longbridge.com/en/news/280291259.md" description: "In the first two months of 2023, SHIMAO GROUP's total contract sales reached RMB 2.811 billion, with approximately 300 units delivered. The offshore debt restructuring plan implemented by the company on July 21 last year has taken effect, alleviating overall debt pressure and improving financial conditions. The group is actively negotiating loan extensions with domestic lenders, with approximately RMB 1.8 billion in loans successfully extended to 2029. SHIMAO continues to focus on accelerating sales and ensuring delivery to achieve sales targets" datetime: "2026-03-24T09:37:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280291259.md) - [en](https://longbridge.com/en/news/280291259.md) - [zh-HK](https://longbridge.com/zh-HK/news/280291259.md) --- # In the first two months of "Domestic Real Estate," SHIMAO achieved contract sales of 2.811 billion RMB and delivered a total of 300 housing units SHIMAO GROUP (00813.HK) announced that the company's proposed offshore debt restructuring plan officially took effect on July 21 last year, reducing the group's overall debt scale and debt pressure, thereby improving its overall financial condition. Since the offshore debt restructuring plan took effect, the company has been fulfilling its obligations under the new terms, and the mandatory convertible bonds held by creditors have been successfully converted into the company's new shares. From December 24, 2025, to the present date, the company has issued approximately 570 million new shares for the conversion of mandatory convertible bonds. As of today, mandatory convertible bonds with a total principal amount of approximately USD 4.1 billion have been converted into the company's new shares, accounting for about 82% of the total amount of mandatory convertible bonds issued as of the restructuring effective date. In addition to the offshore debt restructuring plan, the group stated that it has been actively negotiating with other domestic lenders and creditors regarding loan extensions or restructurings. Since the beginning of 2026, the group has successfully obtained extensions for domestic loans with a principal amount of approximately RMB 1.8 billion, with the longest extension lasting until 2029. The completion of the offshore debt restructuring plan has sent a positive signal to the group's domestic lenders and creditors, and it is expected to gradually realize the extension or restructuring agreements for existing domestic loans. The group has implemented targeted incentive plans for the recovery and revitalization of various receivables and has actively responded to various support policies from national and local governments. Through various storage policies, resources are revitalized to improve cash flow. These resources mainly include funds from government regulatory accounts, prepaid land payments, and various deposits, with the revitalized funds used to pay or offset project engineering fees, taxes payable, and other expenses, in compliance with the group's existing financing agreements. SHIMAO continues to focus on accelerating the sale of existing properties and ensuring delivery. The group has set reasonable sales prices and supply plans based on the actual conditions of the local markets for each project to achieve sales and cash collection targets. In the first two months of this year, the group's cumulative contracted sales totaled approximately RMB 2.811 billion. As of today, the group has delivered approximately 300 units of housing as planned in 2026, significantly alleviating the pressure of delivery work and providing a solid foundation for the stability and sustainable operation of the group's business ### Related Stocks - [00813.HK](https://longbridge.com/en/quote/00813.HK.md) - [00873.HK](https://longbridge.com/en/quote/00873.HK.md) ## Related News & Research - [Shimao Group Calls 2026 AGM, Seeks Renewal of Share Issuance Mandate](https://longbridge.com/en/news/284365746.md) - [Housing crisis hits all ages as homeownership declines nationwide](https://longbridge.com/en/news/283702690.md) - [Best Home Renovations For Resale Value In 2026: What Actually Pays Off](https://longbridge.com/en/news/284438121.md) - [Housing Market's Widest Gap Since 2020: Why Some Homes Sell In Days While Others Sit For Weeks](https://longbridge.com/en/news/283861579.md) - [15:15 ETPHFA honors its top lending partners for 2025](https://longbridge.com/en/news/284437260.md)