Core Viewpoint - The auction of the landmark commercial property, Huangting Plaza in Shenzhen, ended in failure despite attracting over 40,000 views, with only one registration and no bids placed, raising concerns about the company's financial health and potential risks of forced delisting [1][2]. Auction Details - The auction for Huangting Plaza, valued at approximately 4.361 billion yuan, had a starting price of about 3.053 billion yuan, which is 70% of the assessed value [2]. - A deposit of 610 million yuan was required to participate in the auction, which took place from September 9 to September 10 [2]. - Despite 48,060 views and one registration, no bids were made, leading to the asset being left unsold [2]. Company Financials - Huangting International reported a revenue of 290.2 million yuan for the six months ending June 30, 2025, a year-on-year decline of 18.48%, and a net loss of 6.941 billion yuan, down 63.47% year-on-year [3]. - The company's total liabilities reached 7.811 billion yuan, with a debt-to-asset ratio of 98.5%, an increase of nearly 8 percentage points compared to the previous year [3]. Market Context - The failure of the auction reflects broader challenges in the commercial real estate market, with an increase in failed auctions noted across various platforms since 2024 [5]. - Additional costs associated with the auction, such as management fees and utility charges exceeding 20 million yuan, may have deterred potential bidders [4]. - The land use rights for Huangting Plaza expire in 2042, which diminishes its attractiveness to buyers [4]. Future Implications - Following the failed auction, the asset may be re-auctioned at a reduced starting price, potentially as low as 2.442 billion yuan for the next round [5]. - If the asset fails to sell again, it may be offered to creditors as a form of debt settlement [5].
超4万围观 仅1人报名 皇庭广场流拍
Sou Hu Cai Jing·2025-09-10 23:12