Guangzhou Circle Building (Copper Coin Building) once again failed to sell on Friday (November 28), marking the fourth failed auction of the building. This time, the price was reduced by 136 million yuan (RMB). The news quickly became a hot topic.
According to the information from Alibaba’s asset platform on the morning of November 28, “This auction has failed with no one bidding!” Despite the failed auction, there were still 11,697 people watching.
The auction item listed on Alibaba’s asset platform is the reorganization investment rights of Guangdong Xingye International Industrial Co., Ltd., with the owner being Guangdong Xingye International Industrial Co., Ltd., and the rights source being “bankruptcy reorganization.” The property includes 2 land use rights, 3 real estate properties, and fixed assets, with the main asset being the Guangzhou landmark building – Guangzhou Circle Building.
The starting price for this auction was 1.22 billion yuan, compared to the previous starting price of 1.36 billion yuan. The evaluated price of the property is 1.699 billion yuan.
The Southern Metropolis Daily had previously explained the reason behind the auction of Guangzhou Circle Building. Its parent company, Hongda Xingye Group, was embroiled in a debt crisis, and in April 2022, Guangzhou Circle Building was placed on the auction platform as collateral. By February 2023, Hongda Xingye Group had applied for bankruptcy liquidation. In 2024, the Guangzhou Intermediate People’s Court officially ruled that Hongda Xingye Group Co., Ltd. was bankrupt, leading to the third failed auction of Guangzhou Circle Building in November 2025.
Public records show that Guangzhou Circle Building was constructed by Hongda Xingye Group starting in 2010 and was officially opened in 2015. It is located at the southern end of the Baiguotan Economic Circle in Liwan District, Guangzhou, Guangdong Province. Designed by Italian architect Joseph De Pascale, it is a circular super Grade A office and commercial complex. The building is 138 meters high, with an outer diameter of 146.6 meters and an inner diameter of 47 meters, making it the largest and roundest building globally at that time. The entire building is golden in color, resembling a copper coin.
It is colloquially known as the “Copper Coin Building,” as the public perceives its aesthetics as “tacky,” with some internet users even labeling it as the “ugliest building” at one point.