Wongtee International(SZ:000056) 券商中国·2025-08-12 09:48Core Viewpoint - The Royal Court Plaza in Shenzhen, a prominent shopping center, is set to be auctioned due to debt disputes, with a starting price significantly lower than its assessed value [2][10]. Group 1: Auction Details - The Royal Court Plaza, also known as the Crystal Island Commercial Center, will be publicly auctioned on September 9, with a starting price of 30.53 billion yuan, down over 42% from its assessed value of 43.61 billion yuan [2][6]. - The auction has attracted significant attention, with 6,128 views recorded as of August 10, and a bidding deposit set at 6.1 billion yuan [6]. Group 2: Financial Background - The auction is a result of debt disputes involving Royal Court International and its subsidiaries, which owe significant amounts to creditors, including a 27.5 billion yuan debt to Guangyao Xialan (Shenzhen) Investment Co., Ltd. [10][11]. - Royal Court International had previously borrowed 30 billion yuan from CITIC Trust to finance the construction of the Royal Court Plaza, with the loan maturing in March 2021 [11]. Group 3: Operational Status - Despite the legal issues, the Royal Court Plaza has continued to operate normally, with consumers able to shop without disruption, although the property is under a mortgage and seizure status [2][12]. - The financial performance of Royal Court International has been declining, with a reported revenue of 658 million yuan in 2024, down 43.86% year-on-year, and a net loss of 640 million yuan [12][13].