Summary by Futu AI
Country Garden Holdings Limited (“Country Garden”) announces that due to industry fluctuations and the complex operating environment, it will delay the release of the 2023 results and dispatch of the annual report. The company said that more time was needed to gather information to make appropriate accounting estimates and reflected in the consolidated financial statements as of December 31, 2023. In addition, Country Garden is working on debt restructuring and will require more time to assess its finances and work with creditors to develop a restructuring plan. Therefore, it is not possible to publish 2023 results in accordance with the listing rules before 31 March 2024. The meeting of the Company's Board of Directors has also been postponed as a result. If results cannot be announced within the specified time frame, the Company's shares are expected to be suspended from April 2, 2024. Country Garden stresses that it is actively discussing debt restructuring with creditors and is working with auditors to publish results and annual reports as soon as possible.
