Core Viewpoint - The recent clarification from "CITIC City Investment" regarding the Shenzhen old renovation project "Green Scene Baishizhou" highlights the ongoing challenges and uncertainties surrounding the project, despite the denial of rumors about a significant investment [1][2]. Project Overview - The Green Scene Baishizhou project has a total planned construction area of 3.58 million square meters and an estimated value of approximately 220 billion yuan [1]. - As of September 11, 2023, the first phase of the project, "Green Scene Baishizhou Jingting," consists of 2,746 units, with 819 units registered and 179 units under purchase agreements, leaving 720 units available for sale, accounting for 41.4% of the total [3]. Financial Dynamics - In June 2022, Vanke invested 2.3 billion yuan for an 8% stake in the project, with a profit-sharing agreement for the third and fourth phases [4]. - The agreement includes a "betting contract" where if the project fails to secure development loans by September 30, 2025, Vanke can sell back its shares at a premium [5][6]. - Green Scene Group's financial situation is precarious, with current liabilities of 60.57 billion yuan and cash reserves of only 342.5 million yuan [7]. Market Speculation - The denial of the investment rumors has intensified speculation about who might take over the project, with analysts suggesting that large state-owned enterprises are more likely to step in due to their lower capital costs and ability to navigate complex government relations [9][10]. - The project is strategically located in Nanshan District, which is expected to appreciate in value, making it attractive for potential investors [9]. Policy Context - Recent government policies aimed at promoting urban renewal may provide some support for the project, as the central government has emphasized the need for urban village and dilapidated housing renovations [11].

Core Viewpoint - The recent clarification from "CITIC City Opening South China" regarding the Shenzhen old renovation project, "Green Scene Baishizhou," highlights the project's ongoing challenges and the speculation surrounding its capital movements, particularly in light of the denied rumors about a significant investment by CITIC City Opening [1][3][10]. Group 1: Project Overview - The Green Scene Baishizhou project has a total planned construction area of 3.58 million square meters and an estimated value of approximately 220 billion yuan [1]. - As of September 11, 2023, the first phase, Green Scene Baishizhou Jingting, consists of 2,746 housing units, with 819 units registered and 179 units under purchase agreements, leaving 720 units available for sale, accounting for 41.4% of the total [2][3]. - The project has faced delays, with significant portions of the second, third, and fourth phases still pending demolition and large-scale construction [2][3]. Group 2: Financial and Investment Dynamics - The project has seen previous investment from Vanke, which invested 2.3 billion yuan for an 8% stake, with profit-sharing agreements tied to the development of the third and fourth phases [4][5]. - A "betting contract" structure exists, allowing Vanke to exit if certain development milestones are not met by specified deadlines, reflecting the financial pressures faced by Green Scene Group [5][7]. - Green Scene Group's financial situation is precarious, with current liabilities of 60.57 billion yuan and cash reserves of only 342.5 million yuan, indicating a potential liquidity crisis [8]. Group 3: Market Speculation and Future Prospects - The speculation surrounding potential partnerships for the project's future development includes the possibility of introducing state-owned enterprises, which could alleviate financial pressures and leverage their operational capabilities [3][12]. - Analysts suggest that the ideal candidates for taking over the project would be large state-owned enterprises or local investment platforms, given their financial strength and ability to navigate complex governmental relationships [12][13]. - Recent government policies aimed at promoting urban renewal may provide some support for the project, but the timeline for recovery remains uncertain [14][15].

Core Viewpoint - The recent clarification from "CITIC City Opening South China" regarding the false rumor of a 12 billion yuan investment in the Green Scene Baishizhou project highlights the ongoing challenges faced by this significant urban renewal project in Shenzhen [1][3]. Group 1: Project Overview - The Green Scene Baishizhou project has been under the urban renewal plan since 2014, with a total planned construction area of 3.58 million square meters and an estimated value of 220 billion yuan [3]. - As of September 11, 2023, the first phase of the project, known as Green Scene Baishizhou Jingting, consists of 2,746 housing units, with 819 units registered and 179 units under purchase agreements, leaving 720 units available for sale, accounting for 41.4% of the total [3][4]. Group 2: Development Status - The first phase is nearing completion, with interior finishing expected to be completed by the end of this year [4]. - The second phase has been cleared for construction, while the third and fourth phases are undergoing regulatory adjustments to align with new Shenzhen regulations [4][10]. Group 3: Financial Dynamics - Vanke previously invested 2.3 billion yuan for an 8% stake in the project, with a profit-sharing agreement for the third and fourth phases [6]. - The agreement includes a "betting contract" clause, allowing Vanke to exit if certain development milestones are not met by specified deadlines, reflecting the financial pressures faced by Green Scene Group [6][8]. Group 4: Market Speculation - The denial of the investment rumor has not quelled speculation about potential capital movements related to the project, with expectations that state-owned enterprises may become involved in future developments [5][10]. - Analysts suggest that large state-owned enterprises are more likely to take over due to their lower capital costs and expertise in navigating complex government relations [11]. Group 5: Strategic Considerations - The project is located in a prime area of Nanshan District, which is expected to appreciate in value over time, making it an attractive opportunity for potential investors [10]. - The recent policy support from the central government for urban renewal projects may provide some assistance to Green Scene Group, although the company's financial viability remains uncertain [12][13].

Core Viewpoint - The recent clarification from "CITIC City Investment South China" regarding the Shenzhen old renovation project "Green Scene Baishizhou" has brought attention to the project's ongoing challenges despite denying rumors of a significant investment by CITIC City Investment [2][5][14]. Group 1: Project Overview - The Green Scene Baishizhou project has a total planned construction area of 3.58 million square meters and an estimated value of approximately 220 billion yuan [5]. - As of September 11, 2023, the first phase of the project, Green Scene Baishizhou Jingting, consists of 6 buildings, including 3 residential and 2 apartment towers, with a total of 2,746 units [8]. - The first phase is nearing completion, with expected handover by the end of this year, while the second phase has been cleared for construction, and the third and fourth phases are still pending significant development [11][12]. Group 2: Financial Dynamics - Vanke previously invested 2.3 billion yuan for an 8% stake in the project, with specific terms regarding profit distribution and exit rights, reflecting the precarious financial situation of Green Scene Group [11][12]. - Green Scene Group's financial health is under scrutiny, with reported current liabilities of 60.57 billion yuan and cash reserves of only 342.5 million yuan, indicating potential liquidity issues [12]. Group 3: Market Speculation and Future Prospects - The market is speculating on potential partnerships, with analysts suggesting that large state-owned enterprises may be more likely to take over the project due to their lower capital costs and expertise in navigating complex governmental relationships [17]. - The project is positioned in a prime location in Nanshan District, which could attract significant interest from investors if the development progresses [15][17]. - Recent government policies aimed at promoting urban renewal may provide some support for the project, although the timeline for recovery remains uncertain [19][20].

Core Viewpoint - The recent clarification from "CITIC City Investment South China" regarding the Green Scene Baishizhou project has brought attention to the ongoing challenges faced by this significant urban renewal project in Shenzhen, despite the denial of rumors about a 12 billion yuan investment [2][5][9]. Group 1: Project Overview - The Green Scene Baishizhou project has a total planned construction area of 3.58 million square meters and an estimated value of approximately 220 billion yuan [5]. - As of September 11, 2023, the first phase of the project, known as Green Scene Baishizhou Jingting, consists of 6 buildings, including 3 residential and 2 apartment towers, with a total of 2,746 units [8]. - The first phase is nearing completion, with 819 units registered and 179 units under purchase agreements, while 720 units remain available for sale [8]. Group 2: Financial Dynamics - Vanke previously invested 2.3 billion yuan for an 8% stake in a related company, with a profit-sharing agreement for the third and fourth phases of the project [12]. - The investment agreement includes a "betting contract" clause, allowing Vanke to exit if certain development permits are not obtained by specified deadlines, reflecting the financial pressures faced by Green Scene Group [13]. - Green Scene Group reported a liquidity issue, with current liabilities of 60.57 billion yuan and cash reserves of only 342.5 million yuan as of mid-2025 [13]. Group 3: Market Speculation and Future Prospects - The project has attracted speculation about potential partnerships with state-owned enterprises, which could provide necessary capital and expertise for further development [15][17]. - Analysts suggest that the project’s location in a core area of Nanshan District, coupled with favorable government policies for urban renewal, may enhance its long-term value [17][18]. - The ongoing urban renewal policies from the central government may offer some support to the project, although the ability of Green Scene Group to navigate these challenges remains uncertain [17].

Core Viewpoint - The recent clarification by CITIC Urban Development regarding the Shenzhen Baishizhou project has sparked renewed interest and speculation about the project's capital movements and future development plans [1][7]. Group 1: Project Overview - The Baishizhou project has been part of the urban renewal plan since 2014, with a total planned construction area of 3.58 million square meters and an estimated value of approximately 220 billion yuan [5]. - As of September 11, 2023, the first phase of the project, known as Jingting, has 2,746 units, with 819 units registered and 179 units under purchase agreements, leaving 720 units available for sale, accounting for 41.4% of the total [6][12]. Group 2: Development Status - The first phase is nearing completion and is expected to be delivered by the end of this year, while the second phase is still in preparation, and the third and fourth phases have not yet commenced construction [6][10]. - The project has faced challenges, including a significant number of old houses that have not been demolished, which has delayed large-scale construction [6]. Group 3: Financial Dynamics - Vanke previously invested 2.3 billion yuan for an 8% stake in the project, with specific terms regarding profit distribution and exit rights, reflecting the precarious financial situation of the developer, Greenland Group [10][11]. - Greenland Group's financial health is concerning, with a reported current liability of 60.57 billion yuan and cash reserves of only 342.5 million yuan, indicating potential liquidity issues [11]. Group 4: Market Speculation and Future Prospects - The denial of the 12 billion yuan investment rumor has not quelled market speculation about potential partnerships, particularly with state-owned enterprises, which are seen as more likely candidates for future investment due to their lower capital costs and ability to navigate complex government relations [17][18]. - Analysts suggest that the project’s location in a core area of Nanshan District, coupled with favorable government policies for urban renewal, could attract significant interest from large enterprises [16][20].