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].

Core Viewpoint - The auction of four trading seats on the Shenzhen Stock Exchange has been held for the ninth time, with a starting price of 295,500 yuan, but previous auctions have all failed to attract bidders [1][2]. Group 1: Auction Details - The four trading seats, originally belonging to a trust company, are being auctioned due to asset disposal, with the starting price reduced from an initial 600,000 yuan [1][2]. - The auction has seen no bidders so far, with only a few hundred spectators present [4]. - The trading seats are currently under the name of Zhuhai Zhongye Trust Investment Co., Ltd., and the auction is a result of a court ruling from 2009 [5]. Group 2: Historical Context - These trading seats have been auctioned eight times previously, all resulting in failure to sell, with the starting price decreasing over time [2][7]. - The first auction occurred on August 24, 2020, with a starting price of 600,000 yuan, and subsequent auctions saw prices drop to 295,500 yuan by the ninth auction [7]. - The lack of interest in these trading seats is attributed to the fact that many brokerages already possess numerous trading seats, making these additional seats less appealing [2][7]. Group 3: Eligibility and Regulations - According to the Shenzhen Stock Exchange's seat management rules, trading seats can only be transferred among members, primarily brokerages and securities companies [6]. - Bidders must verify their eligibility to acquire trading seats, as failure to meet the qualifications could result in legal liabilities [5][6]. - The auction process requires a formal agreement and application to the exchange, with a standard purchase fee of 600,000 yuan for a trading seat [6].