Expensive Birds Will Pay Their Debts.

On the evening of December 2nd, the bird announced that the "14 precious birds" corporate bonds would be suspended on the comprehensive electronic platform of fixed income securities since December 3, 2019 because of the failure to pay the principal and interest of the bonds on time. The company said that during the period of bond suspension, the company will continue to raise debt repayment funds through many ways, including obtaining some debt paying funds through continuous production and operation activities, and continuing to promote the disposition of some assets of the company, including the equity investment funds held by the company, some subsidiaries' shares and some fixed assets, and actively cooperate with the trustee to do well in the communication and coordination of creditors.

The company said that at present, the company's production and operation activities are normal. The company is further exploring and improving the payment and reconciliation plan for this issue, and strives to reach a settlement agreement with creditors as soon as possible.

In fact, since the beginning of this year, there has been a number of defaults on bonds and no payment has been made on time. As of September 30th, the total liabilities of the precious birds were 3 billion 342 million yuan, the asset liability ratio was 68.42%, the interest bearing debt amount was 2 billion 624 million yuan, of which the short-term debt amount was 2 billion 598 million yuan, while the expensive bird account only 15 million 290 thousand yuan on the currency fund.