Core Viewpoint - Donghai Fund's 22% equity is being auctioned again after multiple failed attempts, raising concerns about its financial health and future profitability predictions [3][4][6]. Group 1: Auction Details - Donghai Fund's 22% equity is currently listed for auction on Alibaba's judicial auction platform, with the bidding period from June 3, 2025, to November 30, 2025 [6]. - This is the fourth attempt to find a buyer for this equity, which has previously failed to sell three times on JD's asset trading platform, with the price dropping from 37.7352 million yuan to 30.18816 million yuan [6][7]. - The auction is a result of a debt dispute involving Shenzhen Pengbo Industrial Group, which had its 27.3053% stake frozen by the Shenzhen Intermediate Court [6][7]. Group 2: Financial Performance and Predictions - In 2024, Donghai Fund is projected to have a net loss of 4.36 million yuan, while the auction documents predict a net profit of 37 million yuan by 2029 [5][9]. - The company expects an average annual revenue growth rate of approximately 30% over the next six years, with a projected revenue of around 150 million yuan by 2029 [9][10]. - Despite recent losses, Donghai Fund's management believes that once it surpasses key asset thresholds of 10 billion and 20 billion yuan, growth will accelerate significantly [10]. Group 3: Management and Growth - Donghai Fund has seen its public fund management scale grow significantly, reaching 26.147 billion yuan by Q1 2025, a 131.33% increase from the end of 2022 [12][13]. - The company has improved its ranking in public fund management, moving from 128th place at the end of 2020 to 93rd place by Q1 2025 [13]. - Donghai Fund's fixed-income products have performed well, ranking in the top 9% for excess returns in the industry over the past three years [13][14].