Core Viewpoint - The auction of four trading seats on the Alibaba asset platform by the Shenzhen Stock Exchange failed to attract any bids, despite a significantly reduced starting price of 29.55 million yuan, down from an initial price of 60 million yuan in 2020, indicating a lack of interest in these trading seats [1][5][6]. Group 1: Auction Details - The four trading seats were auctioned with a starting price of 29.55 million yuan each, but all went unsold due to no bids [1][5]. - The trading seats are owned by Sichuan Financial Leasing Co., Ltd., and were originally awarded to Zhuhai Zhongye Trust Investment Co., Ltd. as compensation in a civil ruling by the Chengdu Intermediate People's Court in September 2009 [5][6]. - The auction process has seen multiple price reductions, with the next auction scheduled for August 3, where the starting price will drop further to 23.6 million yuan per seat [5][6]. Group 2: Market Context - Trading seats are essentially "entry credentials" for members to participate in trading activities on the exchange, but with the shift to electronic trading, physical seats have become less relevant [6][7]. - The Shenzhen Stock Exchange currently charges 60 million yuan for a new trading seat, making the auction price of 29.55 million yuan appear attractive, yet it still failed to generate interest [6][7]. - Securities firms typically have sufficient trading seats, as they apply for them through designated channels, and advancements in technology have reduced the reliance on the number of physical seats for trading efficiency [6][7].