Chinese real estate giant Country Garden Real Estate has once again been frozen a sum of 12.3 billion yuan (RMB, Renminbi). There are currently 62 pieces of information on debtors under enforcement for Country Garden, with the total enforcement amount nearing 6.3 billion yuan.
According to the National Enterprise Credit Information Publicity System website, on October 29th, Country Garden Real Estate Group added a new equity freeze information. The equity is held in Foshan Yuankang Real Estate Development Co., Ltd., with a frozen amount of over 12.3 billion yuan and a freeze period of three years. The enforcing court is the Intermediate People’s Court of Wuhu City, Anhui Province.
As of now, there are 127 pieces of equity freeze information for Country Garden Real Estate. The company also has 62 pieces of debtor information with an enforcement amount of approximately 62.66 billion yuan. Historically, there have been 110 pieces of debtor information with an enforcement amount exceeding 8.684 billion yuan.
The mid-year performance report for 2025 shows that in the first half of the year, Country Garden achieved an operating income of about 72.57 billion yuan with a net loss of approximately 19.65 billion yuan.
During the reporting period, the company’s total assets were around 909.328 billion yuan; total liabilities amounted to 885.41 billion yuan, with contracted liabilities totaling around 222 billion yuan, representing funds from pre-sold but unconfirmed income from housing sales; net assets were approximately 50.783 billion yuan.
Country Garden stated that two reasons led to the losses: a significant decrease in the settlement scale of real estate development projects and a low gross profit margin, as well as an increase in asset impairment.
Headquartered in Foshan, Guangdong, Country Garden was once the largest real estate developer in China in terms of contracted sales. Since defaulting in 2023, the company has been negotiating with creditors for the restructuring of several billion U.S. dollars of overseas debts.
Recently, the restructuring plan has been approved. According to the company’s disclosure, under the overseas restructuring plan with all options fully subscribed, after the completion of the restructuring, Country Garden expects to reduce debt by approximately 11.7 billion U.S. dollars, corresponding to around 84 billion yuan in interest-bearing debts.