Core Viewpoint - Guangdong Xingye International Industrial Co., Ltd. is undergoing bankruptcy reorganization, with the management planning to auction its restructuring investment rights on November 13-14, starting at a price of 1.36 billion yuan [1][3]. Group 1: Company Overview - Guangdong Xingye International Industrial Co., Ltd. was primarily established for the investment in the Guangzhou Round Building project, with a registered capital of 50 million yuan, and is 96% owned by Hongda Xingye Group Co., Ltd. [6]. - The Guangzhou Round Building project, which began construction in 2009 and was completed in 2013, had a total investment of 1 billion yuan and serves as a large-scale plastic storage and logistics center [6][8]. Group 2: Auction Details - The auction includes two land use rights, three real estate properties, and fixed assets, with an assessed value of nearly 1.7 billion yuan and a starting bid set at 1.36 billion yuan [4]. - The Guangzhou Round Building, a prominent landmark in Guangzhou, has been subject to public debate regarding its aesthetic appeal and has previously been listed for auction [8][10]. Group 3: Financial Issues - Hongda Xingye Group faced a debt crisis in 2020, leading to multiple bond defaults and ultimately declaring bankruptcy in April 2024, with total assets of 9.964 billion yuan and total liabilities of 33.845 billion yuan, resulting in a net asset deficit of 23.881 billion yuan [11]. - The confirmed debt amount for Hongda Xingye Group's bankruptcy case is 19.075 billion yuan, indicating significant financial distress [11]. Group 4: Regulatory Actions - Hongda Xingye Group's subsidiary, Hongda Xingye Co., Ltd., faced severe penalties from the Jiangsu Securities Regulatory Bureau for various violations, including unauthorized changes in fundraising purposes and false financial reporting, resulting in fines totaling 18.5 million yuan [12].
13.6亿元,广州地标建筑,被拍卖
Zheng Quan Shi Bao·2025-11-07 09:28