Baoneng has interest bearing liabilities of nearly 200 billion and wants to sell 100 billion of assets to relieve capital pressure
Financial Associated Press, Oct. 20, according to the disclosure of Zhongju hi tech, by the end of September 2021, the total assets of Baoneng group in the consolidated statements were about 830 billion yuan. After excluding the consolidated financial assets and liabilities, the total assets of the group were about 430 billion yuan, the total interest bearing liabilities were 192.7 billion yuan (including bank loans, trust loans, financial products and corporate bonds issued), and the external guarantee balance was 30.8 billion yuan. In order to resolve the financial pressure, Baoneng is increasing the real estate sales and 100 billion asset sales, and promoting the sales of eight major asset projects, involving commercial properties, land, commercial complexes, old reform and equity of high-quality financial companies, with an estimated value of more than 100 billion yuan.
This text is a result of machine translation.
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