Modern Land Discloses Court-Ordered Land Transfer Cutting Debt by RMB205 Million
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Modern Land (China) Co., Ltd. announced that a Beijing court has ordered the transfer of a land parcel valued at RMB205 million to creditor Shijiazhuang Guangyao Jinheng Real Estate, reducing its debt. The ruling follows a failed auction and will be executed by the creditor, with Modern Land cooperating procedurally. The company is assessing the financial impact of this transaction and will provide updates as required by Hong Kong listing rules. Modern Land focuses on real estate development in mainland China and is currently facing a year-to-date price performance decline of 7.14%.
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