Wongtee International(SZ:000056) Zheng Quan Shi Bao·2025-08-12 23:00Core Viewpoint - The Shenzhen Huangting Plaza, also known as the Crystal Island International Shopping Center, is set to be auctioned due to unresolved debt issues, with an opening bid of 3.053 billion yuan, significantly lower than its assessed value of 4.361 billion yuan [1][8]. Company Summary - Huangting International announced the auction of its shopping center, which is a key asset located in Shenzhen's CBD, highlighting the uncertainty regarding the auction's outcome and its potential impact on the company's financials [2][8]. - The company is currently negotiating with creditors to reach a debt resolution agreement, which could potentially lead to the cancellation of the auction if a settlement is achieved [2][8]. Industry Summary - Since its opening in 2013, Huangting Plaza has faced challenges, including a previous freeze in 2021, but has recently seen increased foot traffic, particularly from Hong Kong consumers [4][6]. - The shopping center's rental rates range from 100 to 600 yuan per square meter, with a competitive retail environment in the vicinity, including several large shopping centers within a 1-kilometer radius [6][8]. - Analysts suggest that if a buyer can resolve the debt issues and effectively manage the asset, it could represent a high-value investment opportunity in the long term [6][9].