Reports suggest that the Asia Pacific Industrial Alliance has failed to make scheduled interest payments for two consecutive months, prompting the bank consortium to consider selling the collateral property 'Tao Zhu Hidden Garden' to settle debts.

The Asia Pacific Industrial Alliance, a subsidiary of Weijing Group, signed an NT$8.5 billion loan agreement with a banking consortium at the end of 2018, secured by the world's first rotating mansion, 'Tao Zhu Hidden Garden.' Following the arrest of Chairman Shen Qingjing, the group's financial operations have become problematic, which has led to reports of the alliance missing interest payments for two consecutive months. As a result, the bank consortium plans to sell the 'Tao Zhu Hidden Garden' to repay the debts.

According to decision-makers from the lead bank, the loan was initially taken out by the Asia Pacific Industrial Alliance, with Sinopec providing guarantees. After failing to make interest payments as scheduled, they approached Sinopec seeking resolutions and received approval from Chairman Chen Ruilong, allowing the banks to directly sell the collateral 'Tao Zhu Hidden Garden' to repay the debts, thus avoiding unsightly legal auction procedures.

The loan amount for 'Tao Zhu Hidden Garden' reaches NT$8.5 billion, co-organized by AnTai Bank and International Bills, with other participating banks including Taiwan SME Bank, Shanghai Commercial Bank, and others. The major shareholders of 'Tao Zhu Hidden Garden' are China Engineering holding 23% and Asia Pacific Industrial Alliance holding 77%. The original repayment deadline for the NT$8.5 billion loan was set for the end of 2021; due to delays in selling the property, significant financial pressure has arisen, with annual interest and taxes exceeding NT$500 million.

Furthermore, Shen Qingjing's financial troubles have escalated, as it has been reported that he approached the banking consortium, citing the pandemic as a reason for not officially starting the sales of 'Tao Zhu Hidden Garden,' and requested an extension on the repayment deadline. As normal payments were still being made, the banking consortium agreed; however, with Shen Qingjing's arrest, financial operations became more challenging, leading to missed payments.