The starting price is nearly 2 billion yuan! Assets of Zhengzhou Bairong World Trade Mall go to auction, and the offline liquor wholesale market enters a cold winter

Blue Whale News, February 11 (Reporter Zhu Xinyue)On February 10, the Ali Judicial Auction Platform showed that some assets of Zhengzhou Bairong World Trade Mall will be auctioned on March 10, with a starting price of 1.968 billion yuan.

According to reports, the auction targets are the land use rights north of Luzhuang Road and west of Jingguang South Road in Zhengzhou City, Henan Province, and the 101 – 9th floors of Building 1, Zhengzhou Bairong World Trade Mall (Area 2), No. 9 Dongsheng Road, Guancheng Hui District, and the 1st-3rd floors of the underground garage. The land type is commercial services (wholesale and retail, accommodation and catering); the type of use right is transfer; the expiration date is September 9, 2053. The land use right area is 64,400 square meters. The above-ground construction area of Building C is 233,100 square meters, and the underground construction area is 84,300 square meters. The evaluation price of the auction target is 2.315 billion yuan, the starting price is 1.968 billion yuan, the deposit is 100 million yuan, and the price increase is 5 million yuan.

The asset disposal unit is the Intermediate People’s Court of Zhengzhou City. As of press time, 50 people have set up reminders, with a total of 1132 onlookers, 0 bids and 0 registrations.

Judge Xin, the case handling judge, pointed out to Blue Whale News that the auction of the above-mentioned auction targets was caused by a financial dispute between the seller and that the above-mentioned mall was still operating normally.

According to media reports, various delivery and cargo delivery vehicles come and go outside the mall. Some staff members walked quickly with trolleys, and some staff members operated forklifts to carry goods; the shops in the mall were open normally and orderly.

Zhengzhou Bairong, as the country’s premier liquor wholesale market, has always been regarded as a vane of industry trends. It is known as China’s liquor looks at Henan, and Henan liquor looks at Bairong. Since the four buildings A, B, C and D of Bairong Mall were officially completed and put into operation in January 2018, thousands of merchants have gathered here, including about 2000 wine merchants, 1000 food distributors, and About 2000 dealers in toys, washing chemicals, home textiles and other fields have jointly built a huge beverage and food circulation market.

According to reports from wine industry experts, Zhengzhou’s GDP will reach 1.27 trillion yuan in 2021, while the transaction volume of Bairong World Trade Mall will exceed 100 billion yuan. Among them, the wine category is dominated by more than 40 billion yuan in water. position. Some industry insiders once commented: In Bairong, there is no wine that cannot be found or sold.& rdquo;

However, with the vigorous development of e-commerce platforms and the rapid development of the logistics industry, the competitive environment in traditional wholesale markets is undergoing profound changes. The rise of e-commerce live broadcasts has allowed consumers to easily place orders online and receive goods at home. This change has gradually weakened Bairong Mall’s once asymmetric information advantage.

According to the “2024 China Liquor Market Mid-term Research Report”, more than half of dealers and terminal retailers are facing the severe challenge of inventory backlog. Funds are firmly trapped and market circulation is blocked. As the country’s largest liquor distribution center, merchants in Zhengzhou Bairong Market have not been spared this dilemma. The report further pointed out that more than 50% of respondents said their profit margins are shrinking. In the current market environment, even for high-end liquor that sells for more than 3000 yuan per box, the profits that merchants can earn are extremely meager, often only a few yuan, and the liquidity of many products has also dropped significantly.

In an interview with Blue Whale Financial reporter, a Bairong merchant revealed that the traffic at last year’s Dragon Boat Festival gift fair was much worse than before, and the number of merchants even exceeded that of customers, revealing that the market is deserted. Some merchants also said that in the past, there were obvious peak seasons from the Spring Festival, May Day and Dragon Boat Festival, but this year is all off-season. In previous years, dozens of pieces (boxes) or hundreds of pieces were replenished, but this year, only three to five pieces were replenished, and even one piece was sold at the terminal. Business is difficult, and it is not easy for profitable dealers. rdquo;

At the same time, e-commerce platforms have become new consumption hotspots, and online sales of liquor continue to show strong growth. In contrast, passenger traffic in traditional wholesale markets is gradually decreasing, and sales in Zhengzhou Bairong Market have also declined as a result. With the rise of online sales channels and changes in consumer behavior, the decline trend of wholesale markets has become increasingly obvious. As a representative of traditional wholesale markets, Zhengzhou Bairong Market’s business model may have difficulty adapting to the current rapidly changing market demand.

It is worth noting that this is not the first time that the assets of Zhengzhou Bairong World Trade Mall have been put on the judicial auction stage.

At the end of September 2022, the Intermediate People’s Court of Zhengzhou City prepared the first round of online auction for Block D of Bairong World Trade Mall. On December 16 of that year, the auction transaction confirmation (second auction)issued by the court showed that Zhengzhou New Mall Commercial Management finally won the auction target No. 1 Commercial Building (Block D of Bairong World Trade Mall) on the E14 plot at the southwest corner of Jingguang Road and South Fourth Ring Road in Zhengzhou City [Land Certificate No.: Zheng Guoyong [2013] No. 530] at the starting price. The targets include buildings from the negative third floor to the ninth floor. The lowest transaction price for a single floor is about 80 million yuan and the highest is about 456 million yuan, totaling more than 3.3 billion yuan.

Liquor industry analyst Cai Xuefei told Blue Whale News that Bairong Shimao City is a representative commercial entity in the traditional distribution era. It affects the commercial wholesale markets in central and northern China such as Henan, Hebei, Anhui, and Shandong. For a long time, it plays the role of cargo logistics distribution and non-staple food wholesale and retail, and even affects the prices of the entire products. It can be regarded as a barometer of China’s commercial ecology. In recent years, with the advance warehouse, With the development of Internet logistics technologies such as instant delivery and the growth of online e-commerce, traditional wholesale markets such as Bairong are generally facing huge transformation pressure and indeed need to accelerate upgrades.