Core Viewpoint - The Lijiang Snow Mountain Art Town, developed by former film star Li Yapeng, is facing bankruptcy as the controlling shareholder, Sunshine 100 Real Estate Group, has filed for bankruptcy proceedings against Lijiang Snow Mountain Investment Co., Ltd. [1][2] Company Overview - Lijiang Snow Mountain Investment Co., Ltd. is the project company for the Lijiang Snow Mountain Art Town, with Sunshine 100 Real Estate Group holding 51% of its shares and Li Yapeng as the second-largest shareholder with approximately 27.84% [2][3]. Project Background - The project was initiated in 2012 when Li Yapeng's company acquired a 27.256-hectare land for 164 million yuan, planning to invest a total of 3.5 billion yuan [3][4]. - The first phase of the project began pre-sales in 2014, with prices reaching 21,000 yuan per square meter, making it one of the most expensive real estate projects in Lijiang at that time [3][4]. Sales Performance - Despite initial hype, the sales performance has been poor, with only over 30 villas sold in the first two years after opening [4][5]. - Sunshine 100's financial reports indicate that from 2021 to 2023, the contract sales area for the project was 7,948 square meters, 6,008 square meters, and 2,119 square meters, with corresponding sales amounts of 73.5 million yuan, 104 million yuan, and 26.2 million yuan [5][6]. Financial Struggles - Sunshine 100 Real Estate Group has faced significant financial difficulties, reporting a loss of 5.798 billion yuan in 2024 and 1.086 billion yuan in the first half of 2025 [8][9]. - The company has been involved in legal proceedings, including a liquidation petition filed by creditors due to unpaid debts [8][9]. Bankruptcy Implications - The bankruptcy application could lead to the original shareholders losing their equity value if the company's assets are insufficient to cover its debts [9][12]. - The ongoing bankruptcy review process will freeze all assets and sales proceeds, halting normal operations and sales of the project [9][12]. Current Status - As of now, the project is still operating under the name "Snow Mountain Art Village," but many properties remain unsold and idle [12].
李亚鹏参投的雪山艺术小镇项目公司，被大股东申请破产