OCT(SZ:000069) Sou Hu Cai Jing·2025-11-24 01:48Core Viewpoint - Yunnan Huawen Kanglv Development Co., Ltd. is selling a 42-acre land parcel in Songming at a price of 26.1295 million yuan, significantly below its assessed value of 46.6599 million yuan, indicating a 56% discount [1][3]. Group 1: Company Overview - Yunnan Huawen Kanglv Development Co., Ltd. is a subsidiary of Yunnan Overseas Chinese Town [3]. - The land being sold is part of the "Dianchi Central Leisure City," a key cultural tourism project in Songming, originally planned to include well-known theme parks [3][15]. - The project has faced significant setbacks, including a halt in construction after just one year, leading to a near-complete abandonment for almost three years [5][15]. Group 2: Project Status - The current state of the "Dianchi Central Leisure City" is described as unmanaged and deteriorating, with completed facilities overgrown and in disrepair [6][10]. - The sales center, initially intended as a demonstration area, is now in a state of disarray, with furniture damaged and debris scattered [7][11]. - Despite the project's promotional materials remaining intact, the reality of the site starkly contrasts with the optimistic marketing messages from its inception [11][12]. Group 3: Market Context - The broader real estate environment has shifted from boom to bust, particularly affecting remote cultural tourism projects like "Dianchi Central Leisure City" [15]. - Yunnan Overseas Chinese Town has been experiencing continuous losses, with Yunnan being one of the hardest-hit areas [15][18]. - There are rumors of a potential acquisition of Yunnan Overseas Chinese Town by another state-owned enterprise, China Resources, although this may not lead to improvements for projects like "Dianchi Central Leisure City" due to differing strategic focuses [18].