ST Yigou: A 22 million settlement of debts, expected to increase restructuring benefits by over 1.1 billion

Recently, ST Easy Buy issued a debt settlement announcement. In 2019, its wholly-owned subsidiary, Suning International, acquired 80% of Carrefour China's shares. Due to changes in the external environment, disputes arose between the two parties regarding the remaining equity acquisition and intellectual property expenses. As of the announcement date, Suning was required to pay for the equity acquisition payment and arbitration fees. Through negotiation, Suning and Carrefour signed a "Settlement Agreement", with Suning paying 220 million yuan, Carrefour waiving the debt, and both parties agreeing not to take legal proceedings. This settlement requires approval at the second extraordinary shareholders' meeting in 2025. Upon implementation, the company will indirectly hold 100% of Carrefour China's shares, with an expected increase in debt restructuring income of approximately 1.11 billion yuan. In addition, it is estimated that the company and its subsidiaries will generate investment income of approximately 59.5253 million yuan from other debt settlements in the first half of 2025.