Core Viewpoint - R&F Properties is facing significant financial challenges, leading to the auction of multiple assets, including a major project in Shanghai with a starting bid significantly below its assessed value [2][5][6]. Group 1: Asset Auction Details - The Shanghai project, known as the R&F Wanda project, has a starting bid of 1.22299 billion yuan, which is approximately 30% lower than its assessed value of 1.747 billion yuan [2][5]. - The auction period for this project is set for three days, concluding on October 30 [3]. - The project encompasses a total construction area of 261,300 square meters, including various buildings, but requires substantial further investment to complete [5]. Group 2: Financial Struggles - R&F Properties has been under financial strain, with a reported loss of 4.046 billion yuan in shareholder profit for the first half of 2025, alongside a nearly 60% year-on-year decline in revenue to 5.765 billion yuan [7]. - The company has a significant debt burden, with total liabilities amounting to 114.1 billion yuan, of which approximately 106.7 billion yuan is due within one year [7]. - The company has seen a drastic reduction in its hotel assets, from 89 in 2017 to only 22 by the end of 2024, following the auction of multiple properties [6][7].
富力旗下酒店打折拍卖，公司曾是“全球最大豪华酒店业主”