Ge Long Hui·2025-12-30 12:30Group 1 - ST Bailing announced that Hainan Hongtian received an execution payment of 170 million yuan, which has been fully executed and will conclude on December 24, 2025 [1] - The remaining funds after deducting recovery costs and related expenses will be used to transfer the company's remaining 36% stake in Beijing Hongtian [1] - A framework agreement for the equity transfer was signed on December 29, 2025, among the involved parties, agreeing that Detianhou Company will acquire the remaining 36% stake [1] Group 2 - The final transaction price is currently undetermined due to several pending cases, including a 146 million yuan case with no received execution payment and a 150 million yuan case still under trial [1] - There is a risk that the effectiveness of the 170 million yuan case's judgment could be revoked if the other two cases do not yield favorable outcomes, which may affect the determination of the transaction price [1] - An agreement was made for Detianhou Company to pay 65 million yuan as a good faith deposit for the equity transfer within three days of signing the agreement [2]