Wongtee International(SZ:000056) Nan Fang Du Shi Bao·2025-08-13 02:02Core Viewpoint - Shenzhen Huangting International's flagship asset, the Crystal Island Commercial Center (Shenzhen Huangting Plaza), is set for judicial auction, raising significant market concerns regarding the company's financial stability and future operations [1][2]. Financial Impact - The Shenzhen Huangting Plaza accounted for 56.03% of the company's total revenue last year, with a projected income of 3.67 billion yuan for 2024 [2][3]. - The asset has a book value of approximately 57.5 billion yuan, representing 71.57% of the company's total assets as of December 31, 2024 [3]. Auction Details - The auction is scheduled from September 9 to September 10, 2025, with an assessed value of 4.361 billion yuan and a starting price of 3.053 billion yuan [2]. - The company acknowledges the uncertainty surrounding the auction's outcome and its potential impact on financial statements [2]. Debt Situation - The company has a history of financial difficulties, including a 3 billion yuan trust loan that it failed to repay, leading to the current judicial auction [4]. - The loan was secured against the Shenzhen Huangting Plaza and related assets, with multiple parties providing guarantees [4]. Legal Proceedings - In March 2024, the company received an execution notice from the court, and a payment plan was established to ensure the plaza's operations while addressing the debt [5]. - By July 2024, the debt was transferred to a new creditor, Guangyao Xialan (Shenzhen) Investment Co., Ltd., complicating the company's financial landscape [6].