Daily Economic News 2023-10-08 16:27:46
Recently, the investment promotion promotion of Alibaba Asset Platform showed that the Xinhua Trust Liquidation Group planned to publicly dispose of the No. 1 building of Chongqing Science and Technology Financial Center and the corresponding land use rights at a reference value of more than 543.26 million yuan.
Reporter Feng Dianjun, Editor Ma Ziqing
Alibaba Assets and JD Auction recently announced a promotion announcement for the auction of Xinhua Trust-related assets, including Xinhua Trust’s office building, with a reference value of more than 543.26 million yuan. Relevant staff stated that the bidding activity will officially begin in the near future.
It is understood that in July 2020, Xinhua Trust was taken over by the former China Banking and Insurance Regulatory Commission and entered bankruptcy proceedings on June 16, 2022. The Chongqing No. 5 Intermediate People’s Court ruled that Xinhua Trust should be declared bankrupt. After that, Xinhua Trust began to conduct public auctions and disposals of related assets.
The Xinhua Trust office building will be auctioned in the near future, with a reference value of 540 million yuan
The investment promotion promotion of Ali Asset Platform shows that the Xinhua Trust Liquidation Group plans to publicly dispose of Building 1# of Chongqing Science and Technology Financial Center and the corresponding land use rights at a public price. It is now publicly promoted to the public to find interested parties. The recruitment period is from September 23, 2023 to October 8, 2023, and the reference value is more than 543.26 million yuan.
It is reported that the Chongqing Science and Technology Financial Center that was publicly disposed of at a price this time is located in Building 1, No. 3, Chuangfu Road, Jiangbei District, Chongqing. The relevant staff said, “This building is the Xinhua Trust office building.”
Image source: Alibaba Asset Platform related promotion announcement
According to the above-mentioned staff member, the building will be officially auctioned starting on the 9th. It is reported that the subject asset was completed and accepted in 2018. The registered right holder is Xinhua Trust, and the real estate certificate number is: Yu (2018) Jiangbei District Real Estate No. 000270770 (big certificate) (above ground part), Yu (2020) Jiangbei District Real Estate No. No. 001284537 (big certificate) (underground part).
The total land area of the subject assets is 17816.4㎡; the total construction area is 38151.03㎡. Currently, the underlying assets have been mortgaged to China Trust Industry Security Fund Co., Ltd., and there is no seizure of the assets.
The specific asset status of the underlying asset
Image source: Alibaba Asset Platform related promotion announcement
It consists of two parts, above ground and underground. There are 21 floors above ground and 4 floors in the podium. The main building is 100 meters high and contains two functions: office and hotel. There are 2 floors underground. Its main functions are parking spaces, staff canteen, property function room, equipment room, etc. There are about 111 property-owned parking spaces.
Ali’s promotion page shows that the Xinhua Trust Manager has previously auctioned 35.31% of the Xinhua Fund equity held by the company on the auction platform on August 30, 2023, with a transaction price of 271 million yuan.
The promotion announcement of Xinhua Trust’s second batch of assets to be disposed has been launched online
Xinhua Trust was established in 1979 and is one of the earliest trust companies in China. In 2001, Xinhua Trust became one of the first companies in China to pass the review and regain its trust business license. In 2015, with the approval of the Chongqing Supervision Bureau of the former China Banking Regulatory Commission, Xinhua Trust increased its registered capital to 4.2 billion yuan in July 2015.
On July 6, 2022, the Chongqing Fifth Intermediate People’s Court (hereinafter referred to as the “Chongqing Fifth Intermediate Court”) ruled to accept the bankruptcy and liquidation case of Xinhua Trust and designated the Xinhua Trust Liquidation Group as the administrator. On July 14, 2022, the Chongqing No. 5 Intermediate People’s Court ruled to accept the bankruptcy and liquidation case of Tianjin Xinhua Chuangfu Asset Management Co., Ltd. (hereinafter referred to as “Tianjin Chuangfu”) and designated Xinhua Trust Liquidation Group as the administrator. On July 15, 2022, the Chongqing No. 5 Intermediate People’s Court ruled that Xinhua Trust and Tianjin Chuangfu would be substantively merged and liquidated. On May 26, 2023, the Chongqing No. 5 Intermediate People’s Court ruled to declare Xinhua Trust and Tianjin Chuangfu bankrupt.
Recently, Xinhua Trust’s second batch of assets to be disposed of has appeared on auction platforms such as JD.com. It can be seen from the promotion announcement that a number of assets are in the investor recruitment stage, mainly for the public price change and disposal of corresponding company debt and equity under various trust products of Xinhua Trust.
Among them, the one with the largest reference value is the Putian Series Investment Fund Collective Trust Plan, with a reference value of approximately 2.4 billion yuan. Including Putian II (Zhoushan Marine Tourism and Yacht Industry Development) Investment Fund Collective Trust Plan, Putian Oriental Core Asset Investment Fund Collective Fund Trust Plan, and Putian Core Assets M&A Fund Collective Trust Plan. The main assets under the project respectively correspond to 100% equity of Zhoushan Phoenix Island Real Estate Development Co., Ltd., 100% equity of Zhejiang Hanbi Zijin Industrial Development Co., Ltd., and 99.99% priority limited partnership share of Shanghai Boan Equity Investment Fund Management Partnership (Limited Partnership) .
In addition, the “Xinhua Trust·Shenzhen Urban Construction Share Project M&A Investment Collective Fund Trust Plan” and the “Xinhua Trust·Chongqing Dongqi Real Estate Development Co., Ltd. “Entrusted Investment Agreement” and the Promotion of All Rights and Interests under Related Agreements” The corresponding debt and equity disposal assets of the company under the project correspond to reference values of 930 million yuan and 450 million yuan respectively.
JD.com’s auction platform shows that “Ningbo Qiangren Project’s claims against Ningbo Qiangren Real Estate Development Co., Ltd., Ye Hansi, and Ye Zhongzhen”, “100% beneficial interest in Ma’anshan Yifeng Project” and “Jilin Province’s affordable housing project against Shulan Longxing Real Estate Development Co., Ltd. The first round of auctions for the debts of the company and Jilin Longxing Group Co., Ltd. will begin on October 14.
Cover photo source: Photo by reporter Chen Li
2023-10-08 08:27:00
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