LVGEM (China) Real Estate Advances Restructuring Efforts with Positive Bank Feedback and Creditor Support Agreements

Reuters
30 Jun
LVGEM (China) Real Estate Advances Restructuring Efforts with Positive Bank Feedback and Creditor Support Agreements

LVGEM (China) Real Estate Investment Company Limited has been actively addressing the disclaimer of opinion related to its financial statements for the year ended December 31, 2024, concerning its going concern status. The company is negotiating with banks to extend banking facilities and improve liquidity, having received positive feedback from some institutions. Additionally, LVGEM is in discussions with creditors for debt restructuring and has secured a support agreement with one creditor, while others are considering similar agreements. The company is also promoting bulk sales of properties to enhance capital recovery. These efforts are part of LVGEM's broader strategy to resolve its financial challenges. Shareholders and potential investors are advised to exercise caution when dealing with the company's shares.

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