Huaxia Happiness (600340.SH) plans to develop a replacement belt plan for the debt restructuring plan

Zhitong Finance App News, Huaxia Happiness (600340.SH) announced that since the disclosure of the “Huaxia Happiness Debt Restructuring Plan” (“Debt Restructuring Plan”) on October 8, 2021, the company's financial debt restructuring work has progressed in an orderly manner and has achieved phased results. In order to seek further proper debt settlement, protect creditors' interests, and maintain the company's sustainable operation, the company plans to implement the “no evasion of debt” principle on the basis of the “Debt Restructuring Plan”, optimize the replacement belt plan based on the “Debt Restructuring Plan”, and formulate the “Huaxia Happiness Debt Restructuring Plan” (“Replacement Belt Plan” for short). Creditors can voluntarily choose whether to participate in the “Replacement Belt Plan” according to their own circumstances.

According to the relevant arrangement on the “replacement belt” in the “Debt Reorganization Plan”, the company plans to sell assets in exchange for debts, so that the acquirer can conditionally undertake the corresponding financial debt repaid by the company, and that the debt be rolled over and interest rate cut after replacement. The specific replacement method shall be specifically negotiated by the relevant parties.