Core Insights - The "Zhuanhui Plaza" in Panyu District, Guangzhou, is facing significant challenges as over thirty merchants have vacated the premises, leading to discussions about its future [1][2] - The plaza, which has been operational for over 20 years, is set to change ownership in March 2026, with Guangdong Hongbafang Investment Development Co., Ltd. winning the bidding for a 20-year lease [1][2] Group 1: Current Situation - More than thirty merchants have closed their stores in Zhuanhui Plaza, with some remaining businesses offering discounts to clear inventory [1] - Notable brands such as Apple, Tuan Yu, Miniso, and others have left the plaza, while some merchants are relocating to nearby areas with lower rent [2] - The commercial area of Zhuanhui Plaza is only 29,000 square meters, significantly smaller than competitors like Tianhe City and Aoyuan Plaza, which have 270,000 square meters and 87,000 square meters respectively [2] Group 2: Future Developments - The "Zhuanhui Plaza" is expected to undergo a rebranding to "Hongbafang Plaza" and will be transformed into a community leisure space and a center for family activities and night economy, with renovations planned to start in March 2026 [3] - A new shopping center, "Zhuanhui Star City," is set to open soon, targeting younger consumers with modern retail experiences, and some former tenants of Zhuanhui Plaza are planning to move there [3]