Guangzhou R&F Properties Co., Ltd. (R&F Properties, HKEX: 02777) disclosed two material developments on 10 September 2026: a court-imposed restriction on high-level consumption targeting both the company and Chairman Li Sze Lim, and fresh progress in an arbitration-related enforcement case that led to a partial judicial auction of project assets.
High-Level Consumption Restriction • The People’s Court of Tianhe District, Guangzhou (case no. (2026) Yue 0106 Zhi No. 17253) has barred R&F Properties and Chairman Li Sze Lim from a range of discretionary spending categories. Prohibited activities include first- and business-class air travel, high-end hotel stays, luxury home purchases or renovations, non-essential vehicle acquisitions, premium school fees, and similar expenditure. • Management stated that, to date, the restrictions have not materially affected daily operations or debt-servicing capacity. Dialogue with relevant authorities is ongoing, and further disclosures will follow.
Arbitration Enforcement and Asset Auction • The Intermediate People’s Court of Huainan City, Anhui Province, issued an Enforcement Notice ((2025) Wan 04 Zhi No. 175) compelling R&F Properties and three project subsidiaries to comply with an earlier Shenzhen International Arbitration Court award ((2024) Shen Guo Zhong Cai No. 5054) plus delay interest and enforcement fees of RMB0.63 million. • To satisfy the award, the court organized a Taobao judicial auction (7–8 September 2026) for: – Land-use rights and on-site buildings of plot HGTP19033 in Huainan Economic and Technological Development Zone (starting bid: RMB144.81 million). – Twenty-seven residential units in R&F Xiangcheng Mansion, Huaibei. • Auction outcome: only three units—Unit 102 (Building 20), Unit 1001 (Building 23) and Unit 1702 (Building 28)—were sold; all other assets failed to attract winning bids.
Corporate Response R&F Properties affirmed active engagement with judicial and financial stakeholders to resolve outstanding issues and limit operational or liquidity disruptions. The company pledged ongoing compliance with information-disclosure obligations and advised investors to monitor related risks.
The developments underscore heightened legal and financial scrutiny of R&F Properties as it navigates consumption restrictions on senior management and enforcement actions tied to legacy trust-loan disputes.