Due to liquidity difficulties, Sunshine Group, the major shareholder of Sunshine City, deferred the payment of 400 million yuan of bonds

Beijing News (reporter Rao Shuwei) On January 17, Fujian Sunshine Group Co., Ltd. (hereinafter referred to as "Sunshine Group"), the controlling shareholder of Sunshine City, issued an announcement that due to the company's recent liquidity difficulties, after consultation between the company and the holders, all parties agreed to postpone the principal and interest payable of the public issuance of corporate bonds (the first phase) in 2019 to no later than April 15, 2022, which was nearly three months later than the original payment date.

According to the announcement, the above-mentioned bonds are referred to as "19 Yangji 01", with a total issuance of 400 million yuan, a bond balance of 400 million yuan, a bond maturity of 3 years, a coupon rate of 7.5%, a value date of January 15, 2019, and a redemption date of January 17, 2022.

Sunshine Group said in the announcement that the company is actively raising debt repayment funds, improving the efficiency of asset use, and striving to complete the payment of the principal and interest payable of the above bonds as soon as possible to protect the rights and interests of investors.

On the same day, Sunshine City disclosed that Sunshine Group and Fujian Kangtian Industrial Group Co., Ltd., a co-actor, passively reduced their holdings of about 41.4038 million shares of Sunshine City through centralized bidding because their part of the account maintenance guarantee ratio was lower than the liquidation line, accounting for 0.99% of the total share capital of Sunshine City. After the reduction, Sunshine Group holds a total of about 675 million shares in Sunshine City, accounting for 16.31% of the total share capital.

Beijing News reporter Rao Shuwei

Edited by Wu Xin Proofreader Wang Xin