Transaction Overview - The company successfully sold 60% of its stake in Shanghai Jinban Technology Co., Ltd. through a public bidding process, with Hangzhou Fukun Electronics Co., Ltd. winning the bid at a price of 53 million yuan [4][9] - The transaction was formalized with the signing of the Shanghai Property Transaction Contract on July 30, 2025, and the payment of the transfer amount is to be made within 10 working days from that date [4][9] Financial Details - The company has received the full payment of 53 million yuan for the equity transfer and an additional performance compensation of 70 million yuan from Zhu Xiaodong, as stipulated in the performance compensation agreement [5][9] - The total assessed value of the 60% stake was approximately 126.66 million yuan (1.27 billion yuan) as of December 31, 2024, but the final sale price was significantly lower due to multiple price adjustments during the bidding process [11] Performance Issues - The subsidiary, Shanghai Jinban, failed to meet its performance commitments during the agreed period from 2021 to 2024, leading to significant financial losses that negatively impacted the company's overall performance [12] - The divestment of this underperforming asset is expected to improve the company's financial results moving forward [12] Future Implications - Following the completion of this transaction, Shanghai Jinban will no longer be included in the company's consolidated financial statements, potentially enhancing the company's profitability [10]