Wongtee International(SZ:000056) Nan Fang Du Shi Bao·2025-08-11 03:26Core Viewpoint - The well-known landmark shopping center, Huangting Plaza in Shenzhen, has been listed on JD's judicial auction platform due to the financial difficulties of its operating entity, Huangting International, which has significant debt issues [2][5][9] Group 1: Auction Details - The auction for Huangting Plaza is set to take place on September 9, with a starting price of approximately 3.053 billion yuan, which is about 70% of its assessed value of 4.361 billion yuan [3][7] - The property has a total land area of 42,348.37 square meters and a total construction area of approximately 136,895.89 square meters, with a land use period of 40 years from October 8, 2002, to October 7, 2042 [3][4] - The buyer will also be responsible for outstanding management fees of approximately 16.3187 million yuan and utility fees of about 7.4006 million yuan, totaling over 20 million yuan in additional costs [3][4] Group 2: Company Financial Issues - Huangting International has a total debt exceeding 7.7 billion yuan, with the parent company facing execution amounts over 5.3 billion yuan [7][9] - The company has reported continuous losses over the past five years, with total losses exceeding 4.4 billion yuan [9] - The financial struggles of Huangting International have led to multiple attempts to sell core assets, including a failed attempt to transfer 100% of the shares of Shenzhen Rongfa Investment Co., Ltd. for 7.493 billion yuan in March 2022 [5][9] Group 3: Background and Development - Huangting Plaza, developed by Shenzhen Rongfa Investment Co., Ltd., is a high-end shopping center located in the core area of Shenzhen's CBD, featuring international luxury brands and various dining and entertainment options [4][5] - The property was mortgaged for 3 billion yuan to Citic Trust in 2016, and there are ongoing legal issues related to a loan default [6][8]