Wongtee International(SZ:000056) Shen Zhen Shang Bao·2025-08-10 22:39Core Viewpoint - The Shenzhen Intermediate People's Court announced the auction of the Crystal International Shopping Center (Huangting Plaza) with a starting price of approximately 3.053 billion yuan and an assessed value of about 4.361 billion yuan, highlighting the financial difficulties faced by Huangting International [2][4][5]. Group 1: Auction Details - The auction will take place from September 9 to September 10, with a starting price of approximately 3.053 billion yuan and an assessed value of around 4.361 billion yuan [2]. - The property has outstanding management fees of approximately 16.3187 million yuan and utility fees of about 7.4006 million yuan, totaling over 23.71 million yuan that the buyer will need to cover in addition to the auction price [2]. Group 2: Company Background - Huangting Plaza, located in the CBD of Shenzhen, is owned by Shenzhen Rongfa Investment Co., a subsidiary of Huangting International [4]. - The total land area of Huangting Plaza is 42,348.37 square meters, with a total building area of 136,895.89 square meters, and the land use right lasts for 40 years from October 8, 2002, to October 7, 2042 [4]. Group 3: Financial Issues - Huangting International has faced significant financial challenges, including a lawsuit from China CITIC Trust Co. regarding a loan dispute, leading to the property being placed under judicial auction [5][6]. - In 2016, Rongfa Investment signed a trust loan contract with CITIC Trust for 3 billion yuan, which has since become overdue, with a remaining balance of 2.75 billion yuan [7]. - The company attempted to sell its stake in Rongfa Investment in 2022, but two attempts to attract buyers at reference prices of 7.493 billion yuan and 5.62 billion yuan were unsuccessful [5].