Core Viewpoint - The "Tianxi Bay" project in Huizhou, which has been stalled for 10 years due to a funding crisis, is seeing new developments as two consortiums have submitted registration documents and paid the registration deposit to the administrator [1] Group 1: Project Background - The "Tianxi Bay" project has been on hold since August 2015 due to a funding chain rupture, with the project company applying for bankruptcy liquidation in 2022 [2] - As of now, the project has a total saleable area of 115,000 square meters, including 655 residential units and 116 commercial units [3] - 412 homebuyers have claimed their rights to continue with the purchase contracts, involving 482 properties, while approximately 173 units remain unsold [3] Group 2: Bankruptcy and Management - The bankruptcy case for Huizhou Kanghong Real Estate Development Co., Ltd., the project company, was accepted by the court on June 20, 2022, with a law firm appointed as the administrator [3] - The project has faced numerous complications, including a lack of unity among shareholders and complex debts, making progress difficult [3] Group 3: Investment and Reconstruction Plans - The administrator is recruiting co-benefit debt investors to complete the project through a loan and construction management approach [4] - The estimated cost for resuming construction is 333 million yuan, with investors required to provide loans based on project progress [4] - If multiple investors apply, their proposals will be submitted to a creditors' meeting for voting to determine the official investors [4]