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(Photo source: Suning.com official website)

On August 17, ST Yiguo announced that the company has cooperated with the Jiangsu Branch of China CITIC Financial Asset Management Co., Ltd. (CITIC Financial Assets Jiangsu Branch) and CITIC Trust Co., Ltd. (CITIC Trust) to provide no more than RMB 1.549 billion in relief funds for logistics projects under construction through the establishment of a trust plan, which will mainly be used for the company's warehousing and logistics project construction and related fields.

As of the announcement date, Nanjing Suning Yida, Shaoxing Suning Yida and Chengdu Suning Yida as debtors, the company and its subsidiary Jiangsu Suning Commercial as joint debtors have completed the signing of the above financing supporting agreement, and the relevant trust plan has completed the trust plan filing procedures. Nanjing Suning Yida, Shaoxing Suning Yida and Chengdu Suning Yida mortgaged all the real estate they hold, and obtained a total financing amount of approximately 1.446 billion yuan.

On July 27, ST Yiguo also issued an announcement confirming the debt exemption. The announcement stated that the company continued to cooperate with RT-Mart and Auchan supermarkets under Alibaba Group in offline joint ventures, and opened home appliance 3C supermarkets in RT-Mart and Auchan supermarkets. During the cooperation period from the second half of 2018 to September 30, 2021, the two parties had agreed on guaranteed sales and guaranteed commissions. As of June 30, 2024, the unsettled guaranteed commission amount was 147,227,644.00 yuan. In view of the adjustment plan of RT-Mart and Auchan supermarkets, on the basis of protecting the rights and interests of both parties, the company signed relevant agreements with Kangcheng Investment and Auchan Investment. The two parties negotiated and reached a consensus on the adjustment of the company's supermarket store business. The agreement exempted the company from the aforementioned guaranteed commission, and did not set any preconditions for exemption.