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With repayment of USD 470 million bonds, LVGEM (China) to witness decreasing short-term debts and improving security Author: CHINA LVGEM

[Immediate release]                                               10 March 2023


(Stock Code: 00095.HK)



(10 March 2023, Hong Kong) LVGEM (China) Real Estate Investment Company Limited (“LVGEM (China)” or the “Company”, together with its subsidiaries, collectively referred to as the “Group”; stock code: 00095.HK) announced today that the USD-denominated bonds, totalling USD 470,000,000 with a fixed annual interest rate of 12% and a maturity date in 2023, have reached their due day. The Company has successfully fulfilled its repayment obligation by  remitting all necessary funds on or before 7 March and repaying all the outstanding principal and related interest accrued as of today.


By honouring the value of “Credibility and Responsibility”, acting with the spirit of “Never Surrender” and the courage of “Think Big and Act Boldly” , the Company has successfully fulfilled its repayment obligations for the USD-denominated bonds, with high-quality projects serving as a strong foundation for this achievement. It is worth noting that the USD-denominated bonds are the only tranche of USD-denominated debenture the Company has issued; upon the repayment, the Company sees no maturity pressure of USD-denominated debts and will witness significant decrease of short-term debts falling due within one year and further improvement of security.

According to the announcements published previously, the Company has repurchased notes with principal amounting to USD 59,700,000 and USD 27,500,000 respectively on 27 February and 6 March 2023, and USD 382,800,000 of principal remains outstanding. The repayment completed today includes the principal and related interest accrued.


Founded in 1995, LVGEM (China) is a renowned comprehensive property developer and commercial property operator in Shenzhen, engaged in three major business segments, including real estate development and sales, commercial property investment and operations, and comprehensive services. For years, the Company remains committed to the strategy of “Focusing on Core Cities and Cities’ Core Areas”, and has been playing an active role in the urban construction of cities in the Pearl River Delta, becoming a leader of urban renewal of cities of the Greater Bay Area and amazing the community with Baishizhou Urban Renewal Project ( “Baishizhou Project” ).


Baishizhou Project, the “Grand Urban Renewal Project in Shenzhen” with a total capacity area of 3,850,000 square metres, is the largest and the most representative urban renewal project that attracts the most attention in Shenzhen. For its high quality, Baishizhou Project attracts RMB2.3 billion of investment from Vanke, one of China’s real estate giants, and is granted RMB 20.7 billion of facilities by Baishizhou Syndicate in 2023, which lays a solid foundation for the security of capitals for project construction and operation. Baishizhou Project is progressing smoothly, and Phase I of the project has been in the construction of main works, with the works of standard floors started at the end of 2022. As of now, 10 floors above the ground have been built and the project is now only one step away from pre-sale. The availability of pre-sale of Phase I will become a new engine to drive the Company’s rapid growth, bringing funds of over RMB10 billion to the Company to replenish cash flows and laying a solid foundation for the Company to further improve the debt structure and achieve long-term business operation and growth.

Going forward, LVGEM (China), being committed to the mission of “continuously enhancing the value of cities”, will forge ahead with determination and blaze a new trail with innovation and enterprising spirit. It will focus on urban renewal projects of core cities, and develop Baishizhou Project with high standard to transform the district into an internationalised, high-class smart community, thereby enabling cities to generate greater value, bringing happiness to the people and returning investors with long-term benefits.


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