For the first time in 2026, Longhu Group (00960) paid 1 billion corporate bonds as scheduled

Zhitong Finance learned that on January 5, Longhu Group (00960) completed principal payment and interest payments for “21 Longhu 02” as scheduled, involving a total amount of about 1,038 billion yuan. According to public information, the issuance amount of “21 Longhu 02” was 1 billion yuan, with a coupon interest rate of 4.4%. The resale funds were disbursed on January 7, 2026. The payment included 994 million yuan in principal and 44 million yuan in interest due.

According to earlier news, Longhu Group settled the Hong Kong dollar syndicate ahead of schedule in early December. The total size of this syndicated loan is HK$9.227 billion (approximately RMB 8.5 billion). The interest date is December 21, 2020, and the term is 5 years. According to public information, since the third quarter, Longhu Group has been proceeding with the repayment of the remaining amount in stages and completed early payment in early December. This means that Longhu Group has paid off all of its open market debts in 2025, smoothly surviving the peak debt period with a sound financial strategy and orderly arrangement.

After completing the “21 Longhu 02” payment, the balance of credit bonds in Longhu Group remained only about 3.4 billion yuan, which was 147 million yuan due in March 2026, 1.5 billion yuan due in May, 1 billion yuan due in August, and 800 million yuan due in January 2027. The maturity scale was small and the payment time was scattered. Fitch said in this regard that after 2025, the maturity pressure on Longhu debt, including bonds and syndicated loans, will be significantly reduced.

In fact, since 2023, Longhu has insisted on using positive operating cash flow to drive business growth, and has built a basic market for sustainable development with a safe and stable debt structure. As of the first half of 2025, Longhu Group has continuously achieved positive operating cash flow including capital expenditure. Since mid-2022, the cumulative pressure on interest-bearing debt has been reduced by more than 40 billion yuan over three years, and financial indicators have continued to be optimized. According to the plan, Longhu Group's interest-bearing debt will also be reduced by a net of about 10 billion yuan each year starting in 2026. The size of debt is basically stable, and the pressure on unpaid debt is under pressure.

According to industry insiders, Longhu's success in crossing the debt cycle also has positive significance for the industry. It indicates that traditional housing enterprises with old burdens can absorb historical issues within the enterprise, rely on a steady and orderly layout and long-term strategy, and participate in the exploration and practice of new real estate models.

In addition to actively abandoning reliance on leverage and scale, Longhu Group is also building a strong company's growth market through the continuous development of operations and service businesses to meet the transformation demands of the stock era and help the entire group embark on a new path of high-quality development.