风险提示：投资有风险，决策需谨慎。 来源：金融界 消息面上，皇庭国际近年连续亏损，2020年至2024年累计亏损超44亿元。其转型半导体业务的子公司意 发功率未达业绩承诺，2024年收入仅7267万元，远低于预期。此外，皇庭广场若被拍卖，公司可能触发 财务类退市风险警示。 资金方面，8月15日主力资金净流入3400.61万元，近五日累计净流入7474.71万元。 截至2025年8月15日15时，皇庭国际股价报2.95元，较前一交易日上涨0.34%。盘中最高触及3.10元，最 低下探2.86元，振幅达8.16%，成交额4.27亿元。 皇庭国际主营业务涵盖商业地产运营及半导体业务，旗下核心资产深圳皇庭广场因债务问题将于9月9日 启动司法拍卖，起拍价30.53亿元，较评估价折让30%。公司公告称正与债权人协商债务和解，若达成 协议或可撤销拍卖。 ...

近日，深圳皇庭广场再次传来被拍卖的消息。 8月12日晚间，皇庭国际（000056.SZ）发布关于公司晶岛国商购物中心（即深圳皇庭广场）将被司法拍 卖的提示性公告。晶岛国商购物中心及相关附属设施、设备将于2025年9月9日10时至2025年9月10日10 时止（延时除外）在广东省深圳市中级人民法院京东网司法拍卖平台上进行公开拍卖。 据了解，晶岛国商购物中心就是皇庭广场，被称为深圳CBD的"钻石之心"，于2013年开业，其优越的地 理位置、便捷的交通以及舒适的设计，使得皇庭广场成为地铁直达的购物中心和美食聚集地，皇庭广场 起拍价30.53亿元，较评估价43.61亿元下调近三成。 近日，记者来到皇庭广场，发现餐饮等商铺的人气很高。工作日下午，餐饮区上座率超过八成，粤语交 谈声此起彼伏，多数顾客都来自香港。 皇庭国际称，目前拍卖尚在公示阶段，拍卖是否成交、成交价格等仍存在不确定性，因此仍不能确定该 事项对公司的具体影响。本次拍卖事项对公司的最终影响金额以拍卖结果及年度经审计的财务数据为 准，公司将依据有关会计准则的要求和实际情况进行相应的会计处理。当前，公司正在与债权人沟通协 商包括债务化解在内的整体和解方案，双方均 ...

近日，深圳皇庭广场再次传来被拍卖的消息。 8月12日晚间，皇庭国际（000056.SZ）发布关于公司晶岛国商购物中心（即深圳皇庭广场）将被司法拍卖的 提示性公告。晶岛国商购物中心及相关附属设施、设备将于2025年9月9日10时至2025年9月10日10时止（延 时除外）在广东省深圳市中级人民法院京东网司法拍卖平台上进行公开拍卖。 据了解，晶岛国商购物中心就是皇庭广场，被称为深圳CBD的"钻石之心"，于2013年开业，其优越的地理位 置、便捷的交通以及舒适的设计，使得皇庭广场成为地铁直达的购物中心和美食聚集地，皇庭广场起拍价 30.53亿元，较评估价43.61亿元下调近三成。 皇庭国际称，目前拍卖尚在公示阶段，拍卖是否成交、成交价格等仍存在不确定性，因此仍不能确定该事项对 公司的具体影响。本次拍卖事项对公司的最终影响金额以拍卖结果及年度经审计的财务数据为准，公司将依据 有关会计准则的要求和实际情况进行相应的会计处理。当前，公司正在与债权人沟通协商包括债务化解在内的 整体和解方案，双方均在积极争取和解方案尽早落地，从而妥善解决公司债权债务纠纷。后续双方若能达成和 解，可能存在法院撤销本次司法拍卖的情况；同时，如果 ...

Investment Rating - The industry rating is optimistic, expecting overall returns to exceed the CSI 300 index by more than 5% in the next six months [11]. Core Insights - The report highlights that the real estate sector is experiencing a positive market trend, with the Shanghai Composite Index and Shenzhen Composite Index rising by 0.34% and 1.42% respectively on August 11, 2025. The Shenwan Real Estate Index increased by 1.24% [3]. - Specific developments include the planning adjustments in Shenzhen's Guangming District, which involve four residential land plots with varying land areas and floor area ratios [5]. - Guangzhou's state-owned enterprise, Zhujiang Real Estate, has initiated a price guarantee action for seven projects, promising to compensate buyers for price differences until the end of the year [6]. Market Performance - The top five performing stocks in the real estate sector include Shen Property A, Wantong Development, Tianbao Construction, Fuxing Shares, and Jintou City Development, with respective increases of 10.01%, 9.96%, 6.65%, 6.41%, and 6.01%. Conversely, the largest declines were seen in Rongfeng Holdings, Yatong Shares, Huali Family, Guangming Real Estate, and Shangshi Development, with decreases of -4.81%, -2.92%, -1.70%, -1.11%, and -1.04% [4]. Company Announcements - Huazhong City Holdings announced a suspension of trading due to a court-ordered liquidation [9]. - Zhuhai Huafa Industrial Co., Ltd. adjusted the coupon rate of its corporate bonds from 3.90% to 2.30%, with a total issuance of 2 billion yuan and a maturity of five years [9]. Industry News - The Shenzhen Intermediate People's Court announced the auction of the Shenzhen Huangting Plaza, with an estimated value of 4.361 billion yuan and a starting price of approximately 3.053 billion yuan [8].

2025.08. 12 本文字数：1570，阅读时长大约3分钟 作者 | 第一财经 郑娜 位于深圳中轴线上的地标商业体皇庭广场即将被法拍。 8月11日，皇庭国际（000056.SZ）公告称，近日通过公开信息查询获悉，广东省深圳市中级人民法院将公司全资子公司融发投资名下资产 晶岛国商购物中心（即深圳皇庭广场）及相关附属设施、设备于9月9日进行公开拍卖，评估价约43.61亿元，起拍价约30.53亿元，保证金 6.1亿元。 皇庭国际方面为该笔借款提供了多重抵押担保。其中，融发投资以晶岛国商购物中心（即深圳皇庭广场）及其占有范围内的土地使用权提供 抵押保证；皇庭国际以持有的融发投资合计100%股权为质押担保；融发投资和皇庭物业以应收账款提供质押担保；皇庭国际与深圳市皇庭投 资管理有限公司、深圳市皇庭集团有限公司、实控人郑康豪提供连带责任保证担保。 但因相关政策调整，上述贷款无法续期，而融发投资到期无法履约偿还借款，2021年中信信托向深圳市中级人民法院提起诉讼。2023年的终 审判决显示，皇庭国际方面应偿还中信信托各项本息及违约金。 实际上，在终审判决之前，皇庭国际也曾主动寻求出售皇庭广场以解决债务问题。2022年3 ...

陪伴深圳人12年吃喝玩乐的皇庭广场，即将被司法拍卖。 皇庭广场要被司法拍卖 京东法拍平台信息显示，深圳CBD的璀璨明珠之一——皇庭广场，可能在未来易主。 近日，根据京东法拍平台信息，深圳福田中心区晶岛国商购物中心及相关附属设施设备将于9月9日公开进行司法拍卖。 据了解，晶岛国商购物中心就是皇庭广场，被称为深圳CBD的"钻石之心"，于2013年开业，其优越的地理位置、便捷的交通 以及舒适的设计，使得皇庭广场成为地铁直达的购物中心和美食聚集地，皇庭广场起拍价30.53亿元，较评估价43.61亿元下调 超四成。 值得一提的是，皇庭广场曾在2021年就被查封过，但是商场至今仍然正常营业，仅是不动产登记信息显示为抵押查封状态， 不影响经营，消费者仍可正常购物消费。 据介绍，皇庭广场于2013年在深圳福田区开业，整个项目总建筑面积13.69万平方米，其中，证载建筑面积合计为8.06万平方 米，是名副其实的世界级购物中心。 相关评估报告披露，皇庭广场所处地方附近有Galaxy商场、卓越时代广场、领航中心城等商品房购物中心，周边有金中环国 际商务大厦、财富大厦、现代国际大厦、中信证券大厦、深圳国际商会中心，有深圳大中华喜来登 ...

Core Viewpoint - The auction of the Shenzhen Huangting Plaza, a key asset of Huangting International, is set for September 9-10, 2025, with a starting price of 3.053 billion yuan, reflecting a nearly 30% discount from its assessed value of 4.361 billion yuan [1][5]. Financial Summary - Huangting Plaza accounts for 71.57% of the company's total assets and is projected to contribute 56.03% of the company's total revenue in 2024 [1]. - As of March 2023, Huangting International reported total assets of 8.008 billion yuan and total liabilities of 7.777 billion yuan, resulting in a debt ratio of 97.12% [6]. Operational Context - The plaza's land use rights are valid until October 2042, with approximately 17 years remaining [3]. - The property is currently burdened with outstanding management fees of about 16.3187 million yuan and utility fees of approximately 7.4006 million yuan, totaling around 23.72 million yuan in additional costs for potential buyers [3]. Historical Background - The financial troubles leading to the auction began with a 30 billion yuan loan taken in 2016, which was not repaid by the 2021 deadline, triggering legal actions [6]. - Previous attempts to sell the 100% stake in the subsidiary owning the plaza failed due to complex debts and restricted ownership [6]. Market Sentiment - The auction reflects a broader market sentiment where high-debt assets are often avoided by investors, impacting the asset's perceived value [9]. - Experts suggest that potential buyers must have strong financial backing, as the plaza's operational challenges and land use limitations present significant risks [8][12]. Future Prospects - Analysts indicate that the plaza could attract specific types of investors, such as insurance funds or foreign investment firms, who may seek to repurpose the asset for higher returns [8]. - The plaza's prime location and large land area are seen as competitive advantages, but the unresolved debt issues and operational costs must be addressed for long-term viability [12].

Group 1 - The Shenzhen Intermediate People's Court announced the auction of the Crystal International Shopping Center (Huangting Plaza) and related facilities, with a starting price of approximately 30.53 billion yuan and an estimated value of about 43.61 billion yuan [1][4] - As of the auction transfer, the property owes approximately 16.32 million yuan in management fees and about 7.40 million yuan in utility fees, totaling over 23.71 million yuan in outstanding payments that bidders must cover in addition to the auction price [3] - Huangting Plaza, located in the CBD of Shenzhen, has a land area of 42,348.37 square meters and a total building area of 136,895.89 square meters, with a land use period of 40 years from October 8, 2002, to October 7, 2042 [4][5] Group 2 - Huangting Plaza is owned by Shenzhen Rongfa Investment Co., Ltd., a subsidiary of Huangting International (stock code: 000056), which has faced legal issues due to a loan dispute leading to the property being placed under judicial auction [5][7] - In 2021, Huangting International announced a lawsuit from Citic Trust regarding a loan contract dispute, resulting in the property being sealed for 36 months, although the shopping center continued normal operations [5][6] - Previous attempts to sell the equity of Rongfa Investment, which holds Huangting Plaza as its core asset, were unsuccessful, with reference prices dropping from 74.93 billion yuan to 56.2 billion yuan in 2022 [6]

Core Viewpoint - The Shenzhen Intermediate People's Court announced the auction of the Crystal International Shopping Center (Huangting Plaza) with a starting price of approximately 3.053 billion yuan and an assessed value of about 4.361 billion yuan, highlighting the financial difficulties faced by Huangting International [2][4][5]. Group 1: Auction Details - The auction will take place from September 9 to September 10, with a starting price of approximately 3.053 billion yuan and an assessed value of around 4.361 billion yuan [2]. - The property has outstanding management fees of approximately 16.3187 million yuan and utility fees of about 7.4006 million yuan, totaling over 23.71 million yuan that the buyer will need to cover in addition to the auction price [2]. Group 2: Company Background - Huangting Plaza, located in the CBD of Shenzhen, is owned by Shenzhen Rongfa Investment Co., a subsidiary of Huangting International [4]. - The total land area of Huangting Plaza is 42,348.37 square meters, with a total building area of 136,895.89 square meters, and the land use right lasts for 40 years from October 8, 2002, to October 7, 2042 [4]. Group 3: Financial Issues - Huangting International has faced significant financial challenges, including a lawsuit from China CITIC Trust Co. regarding a loan dispute, leading to the property being placed under judicial auction [5][6]. - In 2016, Rongfa Investment signed a trust loan contract with CITIC Trust for 3 billion yuan, which has since become overdue, with a remaining balance of 2.75 billion yuan [7]. - The company attempted to sell its stake in Rongfa Investment in 2022, but two attempts to attract buyers at reference prices of 7.493 billion yuan and 5.62 billion yuan were unsuccessful [5].

Core Viewpoint - The iconic shopping mall, Huangting Plaza in Shenzhen, is set for judicial auction due to the debt issues of its parent company, Huangting International, with a starting price of approximately 30.53 billion yuan, significantly lower than its assessed value of 43.61 billion yuan [1][2][8]. Group 1: Auction Details - The auction for Huangting Plaza will take place on September 9, with a starting price set at about 30.53 billion yuan, which is approximately 70% of its assessed value of 43.61 billion yuan [2][8]. - The property covers a land area of 42,348.37 square meters and has a total building area of 136,895.89 square meters, including various commercial spaces [2][4]. - The property has outstanding management fees of approximately 16.32 million yuan and utility fees of about 7.40 million yuan, which the buyer will be responsible for [3][8]. Group 2: Company Background - Huangting Plaza, developed by Shenzhen Rongfa Investment Co., is a high-end shopping center located in the CBD of Shenzhen, featuring luxury brands and various dining and entertainment options [4][9]. - Huangting International, the parent company, has been facing financial difficulties, with total liabilities exceeding 77 billion yuan as of March 31, 2025 [11][12]. - The company has reported continuous losses over the past five years, with total losses exceeding 44 billion yuan [9][11]. Group 3: Debt and Legal Issues - The auction is linked to a loan dispute involving a 30 billion yuan loan taken out in 2016, which was used for the construction of Huangting Plaza [8][9]. - The loan was due in March 2021, with an outstanding balance of 27.5 billion yuan, which has not been repaid [8][9]. - The judicial auction is part of a broader effort to settle debts owed to creditors, including a company named Guangyao Xialan [8][9].