Wongtee International(SZ:000056) Di Yi Cai Jing·2025-08-12 14:26Core Viewpoint - The landmark commercial property, Huangting Plaza, located in Shenzhen, is set to be auctioned due to financial difficulties faced by Huangting International, which has been unable to repay a loan secured against the property [2][4]. Group 1: Auction Details - Huangting International announced that the Shenzhen Intermediate People's Court will auction its subsidiary, Rongfa Investment's asset, Huangting Plaza, on September 9, with an estimated value of approximately 4.36 billion yuan and a starting price of about 3.05 billion yuan [2][4]. - The auction is a result of a loan agreement made in 2016, where Rongfa Investment borrowed 3 billion yuan from CITIC Trust, secured by Huangting Plaza and other guarantees [4][5]. Group 2: Financial Impact - As of the end of 2024, Huangting Plaza has a book value of 5.75 billion yuan, accounting for 71.57% of Huangting International's total assets, and its revenue for 2024 is projected to be 369 million yuan, representing 56.03% of the company's total revenue [6]. - If the auction is successful, Huangting International will lose ownership of Huangting Plaza, which could trigger significant impacts on the company's assets, liabilities, and operations, potentially leading to a risk of delisting under Shenzhen Stock Exchange rules [6]. Group 3: Debt Resolution Efforts - Huangting International is currently in discussions with creditors to negotiate a comprehensive settlement plan, which may lead to the cancellation of the auction if an agreement is reached [7].