Sichuan Shengda Forestry asset fails first auction, heads to second round

Sichuan Shengda Forestry Industry Co., Ltd. announced that the first online judicial auction of its office building in Chengdu concluded without a successful bid. The asset is now moving to a second auction.

The Hangzhou Intermediate People's Court has scheduled the second online judicial auction for December 28 to December 29, 2025, on Taobao's judicial auction platform. The starting price for this second auction will be CNY 8,630,552.

The company stated that the auction of this long-idle asset is not expected to significantly impact its current or future profits, assets, liabilities, or daily operations. A successful sale, however, could help reduce company debt and activate inefficient assets. The ultimate impact on profit will be subject to an audit by an accounting firm.