Core Viewpoint - ST易购 has reached a settlement with Carrefour Group, resulting in the company indirectly holding 100% of Carrefour China after paying a settlement amount of RMB 220 million to CNBV [1][5][6] Summary by Sections Dispute Background - In June 2019, ST易购's subsidiary, Suning International, signed a share purchase agreement with CNBV to acquire 80% of Carrefour China for RMB 4.8 billion [2] - The agreement included a clause for CNBV to sell the remaining 20% of Carrefour China to Suning International after two years, with a performance guarantee of RMB 1.2 billion provided by ST易购 [2] - By September 2019, Suning International completed the acquisition of 80% of Carrefour China [3] - In April 2022, Suning International paid RMB 204 million for a staged purchase of the remaining 16.67% stake, bringing its total ownership to 83.33% [3] - Disputes arose due to changes in circumstances affecting the acquisition of the remaining shares, leading to arbitration claims from Carrefour Group [4] Settlement Agreement - A settlement agreement was signed between Suning International and Carrefour Group, where ST易购 will pay RMB 220 million to CNBV, leading to the waiver of related debts by Carrefour [5] - Following the settlement, Carrefour China and its consulting company will cease using the intellectual property within one month [5] Financial Impact - After the settlement, ST易购 will indirectly own 100% of Carrefour China, which is expected to positively impact the company's financial status and operational results [6] - The company anticipates a debt restructuring gain of approximately RMB 1.11 billion, reducing its total payable debt to around RMB 1.331 billion [6]

Core Viewpoint - ST Yigou (002024) has reached a debt settlement agreement with Carrefour, which will allow the company to indirectly hold 100% of Carrefour China after the resolution of disputes regarding the remaining equity acquisition and intellectual property fees [1] Group 1: Debt Settlement Agreement - In 2019, ST Yigou's wholly-owned subsidiary, Suning International, acquired 80% of Carrefour China, leading to disputes over the remaining equity acquisition and related fees due to changes in the external environment [1] - The agreement stipulates that Suning will pay 220 million yuan, while Carrefour will waive the debt, and both parties will cease legal proceedings [1] - The settlement requires approval at the second extraordinary general meeting of shareholders in 2025 [1] Group 2: Financial Impact - Upon completion of the settlement, the company is expected to recognize a debt restructuring gain of approximately 1.11 billion yuan [1] - Additionally, other debt settlements by the company and its subsidiaries in the first half of 2025 are anticipated to generate investment income of about 59.5253 million yuan [1]

Debt Settlement Overview - The company and 18 subsidiaries have signed a debt settlement agreement with Shanghai Haishuiwen Management Service Co., Ltd, involving a total debt of 507.374 million yuan, with a debt reduction of 502.374 million yuan, leaving a payable amount of 5 million yuan [1][3]. Basic Information of the Creditor - Shanghai Haishuiwen is a limited liability company wholly owned by an individual, with a registered capital of 50,000 yuan. As of December 31, 2024, it has total assets of 1.6181 million yuan, total liabilities of 4.9942 million yuan, and a net asset of -3.3761 million yuan [2][3]. Debt Settlement Plan - The debt settlement involves a total claim of 507.374 million yuan, with the creditor agreeing to waive 502.374 million yuan of the receivables, resulting in a remaining receivable of 5 million yuan [3][4]. Purpose and Impact of Debt Settlement - The debt settlement is aimed at alleviating the company's debt burden and improving operational performance. It is expected to positively impact the company's financial status, with an estimated increase in net profit attributable to shareholders of approximately 408 million yuan [4].