"Domestic Property" GLORIOUS PPT H sold over 95,000 square meters of properties last year and continues to be suspended from trading

Glorious PPT H (00845.HK) announced that as of December 31 of last year, the total floor area of properties sold and delivered by the group exceeded 95,000 square meters. The group's real estate sales mainly came from its 14 projects located in the Shanghai area, the Yangtze River Delta, the Bohai Rim, and Northeast China.

The announcement further stated that to alleviate the group's liquidity pressure and improve its debt structure, the group has been actively negotiating with multiple lenders to renew and extend bank loans and credit financing, and is exploring different financing options with several financial institutions to provide funding for the group's working capital and obligations in the foreseeable future.

The company has suspended trading on the Stock Exchange since April 1 of this year and will continue to suspend trading until further notice. The company stated that it will continue to strive to meet the resumption guidelines and fully comply with the listing rules to gain the trust of the Stock Exchange, and will seek to restore trading of its shares as soon as possible