Core Viewpoint - Shanghai Phoenix plans to adjust the transfer base price of three unsold properties due to lack of bids, with the new price set at approximately 46,000 yuan per square meter, down from the initial 50,900 yuan per square meter [1] Group 1: Property Sale Details - The company announced the sale of four properties located at 200 Zhenning Road, Jing'an District, Shanghai, with a total area of 604.68 square meters [1][2] - The initial total transfer price for the four properties was 30.76 million yuan, while their book value was only 2.0393 million yuan [1] - Only one of the four properties was sold, specifically the smallest one (112.64 square meters), which was sold for 5.92 million yuan [1] Group 2: Pricing Adjustments - The remaining three properties, with a total area of 492.04 square meters, have a new combined listing price of 22.62 million yuan [2] - The new listing prices for the remaining properties are 8.7 million yuan for the largest (190.58 square meters), and 6.97 million yuan and 6.95 million yuan for the other two [2] Group 3: Market Context - The average listing price for the area was 56,300 yuan per square meter in October, while the transaction price in June was only 49,300 yuan per square meter [2] - The properties were previously rented out, but the rental income was very low, prompting the company to decide on their disposal [2] Group 4: Company Background - Shanghai Phoenix primarily engages in bicycle manufacturing and related industries, with its origins tracing back to the establishment of Shanghai Bicycle Factory No. 3 in 1958 [2] - The company had previously sold idle properties worth over 40 million yuan between 2015 and 2016 [2]