With 76,000 yuan, become a shareholder of ZYBANK, Taobao once again showcases ultra-low price equity auctions

With an investment of less than 76,000 yuan, one can take over and become a shareholder; such an ultra-low price auction has recently been listed online. According to information from Taobao's judicial auction, over 110,000 shares of ZYBANK have been put up for auction recently. The seller is a local court in the Central Plains region. Based on the actual total auction price, the per-share price of ZYBANK is only 0.68 yuan. Although this is more than double the price of the same company in the Hong Kong stock market, it is attractive because there is no need to open an account in Hong Kong, and the single transaction amount is relatively small, which has still sparked some discussions. This is also a rare case of a bank equity auction for only tens of thousands of yuan since 2023, and more discussions are unfolding around this equity auction. A Rare "Mini" Equity in Years Information shows that the People's Court of Weidu District, Xuchang City, will conduct a public auction from 10:00 on March 17, 2026, to 10:00 on March 18, 2026 (excluding extensions) on the Taobao judicial auction platform. The auction item is 111,308 shares of ZYBANK with the securities code HK1216. This auction does not include movable indoor items and other debts. The starting price is 75,968 yuan, with a deposit of 15,000 yuan and a bidding increment of 750 yuan. Compared to auctions during the same period that range from several million to several hundred million yuan, this equity auction indeed seems a bit "mini." Starting Price Discounted by 25% According to the asset appraisal report, the assessment base date for this equity is June 30, 2025, and the assessment method is the market approach. The asset appraisal report indicates that, in accordance with national asset appraisal regulations and based on the principles of independence, fairness, and objectivity, and necessary appraisal procedures, it was assessed that the value of 111,308 shares of ZYBANK held by Zhang Zhanxiang, commissioned by the People's Court of Weidu District, Xuchang City, on the assessment base date is 101,290.00 yuan (in words: One Hundred One Thousand Two Hundred Ninety Yuan). Calculating this way, the current starting price is approximately discounted by 25% relative to the assessed value. More Expensive than the Secondary Market However, as of around 14:30 on March 9, the price of ZYBANK was around 0.325 yuan per share. Based on this calculation, buying 111,308 shares in the secondary market would cost less than 36,200 yuan The actual transaction total price takes into account the actual number of shares per hand, and the amount corresponding to the number of shares will also be adjusted accordingly. However, based on the price per share, it is almost below half of the starting price. This means that if there is indeed such willingness to buy in the secondary market, it would not only be cheaper than the auction but also likely more convenient. Positioning is Quite Awkward Although online auctions have various benefits, whether this auction can proceed smoothly remains to be seen. On one hand, there is a huge divergence in the assessment of the equity value of ZYBANK, which may affect the enthusiasm of bidders to "raise their cards." Reference point one: According to the mid-term report performance as of June 30, 2025, ZYBANK's net asset value at that time was 2.91 yuan, with earnings per share of 0.05 yuan in the first half of 2025. If considering from the perspective of net assets, ZYBANK's value should not be lower than 2.91 yuan. Reference point two: Based on market assessment prices, estimating based on various peer assessment prices and historical transaction prices, for example, if evaluated at a certain price-to-earnings ratio, its price should be higher than the secondary market transaction price. Reference point three: According to market prices, the latest transaction price is around 0.325 yuan, indicating a significant market divergence. Risk Warning and Disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investing based on this is at one's own risk