Core Points - The announcement of a bounty for information on the assets of Nantong Sanjian and its executives highlights the severe impact of the industry adjustment cycle on the company [1][2] - The bounty is set at a maximum of 25 million yuan for information leading to the recovery of a court-ordered payment of 253.5 million yuan that has not been fulfilled [2][4] Company Financials - Nantong Sanjian's revenue for the first half of the year was 0.95 million yuan, with a net loss of 0.17 million yuan, and its net assets are in negative territory [5] - The company has a total of 1.949 billion yuan in defaulted debts, including 618 million yuan in domestic bonds and 186.8 million USD in offshore bonds [5] Industry Context - The bounty system is part of a broader trend where multiple courts across China are offering rewards for information on real estate companies and their executives who fail to meet legal obligations [7] - The use of bounties is seen as a method to address the challenges of asset recovery in cases where the financial structures of companies are complex and assets may be hidden or transferred [8]