China Fortune Land Development (SHA:600340) settled 23.6 billion yuan in financial and operating debts, according to a Shanghai bourse disclosure on Saturday.
The company's shares dropped over 3% during Monday's morning trade.
As of Aug. 31, the Chinese property developer's cumulative overdue debts amounted to around 24 billion yuan, excluding interest.
Meanwhile, the company restructured 192.7 billion yuan out of the 219.2 billion yuan in financial de debt as part of the debt restructuring plan.
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