Country Garden recently transferred three properties in Shanghai to D&O Home Collection Group. In response, Country Garden stated that this move is both an asset-for-debt arrangement and will promote the company's delivery-related work. Country Garden Group announced that its subsidiary, Shanghai Birong Investment Management Co., Ltd., and D&O Group's subsidiary, Foshan Oushennuo Ceramic Co., Ltd., have signed an agreement to fully offset the 0.423 billion yuan payable by Oushennuo with the equity of the Project Xiangyu Hong in Hainan. This transaction has been completed. "Through this asset-for-debt transaction, the company has obtained a partial supply of ceramic tiles necessary for delivery in the relevant region. Currently, the company is trying its best to revitalize various assets and fulfill its delivery obligations." Country Garden said.
碧桂园回应4.23亿以资抵债事件：公司正努力盘活各类资产，尽全力保交房
Country Garden responds to the 0.423 billion asset-for-debt incident: the company is actively revitalizing various assets and doing its best to ensure delivery.
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