ST Zhongdi: Subsidiary Land Plot Judicial Auction Withdrawn due to Settlement Agreement, Debt of 1.17 Billion Yuan to be Paid.

ST Zhongdi announced that its wholly-owned subsidiary Zhongmei Heng Real Estate was sued by China Construction First Bureau for a construction project dispute, and the court ruled that it must pay 195 million yuan. The two parties later reached an execution settlement, but because the payment was not made as agreed, the court resumed the execution and will auction off the land owned by Zhongmei Heng Real Estate on July 2-3, with a starting price of 623 million yuan. On July 1, it was found that the parties had reached an execution settlement agreement, and the auction was withdrawn. Currently, Zhongmei Heng Real Estate still owes China Construction First Bureau 117 million yuan, which is to be paid in six installments before March 31, 2027.