On September 28, Yingying Network (002517.SZ) disclosed the "Announcement on the Progress of the Subsidiary's Major Litigation and the Mediation Plan for the Zhejiang Jiuling Performance Compensation Dispute". The company said that it received the repayment from the relevant debtor on September 27. 508,544,300 yuan.

As of the date of this announcement, the company has received a total of 602,541,100 yuan under the (2020) Hu 01 Min Chu No. 199 "Civil Mediation Letter", and the debts under the civil mediation letter have been settled.

  The announcement stated that "this debt settlement marks that the performance compensation disputes between the company and Zhejiang Jiulingyuan shareholders have been fully resolved, which is a major result of the company's historical problems being cleared up successively; the repayment amount is expected to increase accordingly. The company's net profit attributable to the parent in 2022 , increasing the company's cash reserves and helping to safeguard the interests of the company and investors."

  The settlement of Zhejiang Jiuling’s 602 million performance compensation is the re-clearing of the problems left over by the history of Yingying Network. Looking back on the development of Yingying Network in recent years, the new management of the company has always considered from the perspective of investors, Gold and silver's actions underpin investor confidence.

On September 23, Yingying Network disclosed the company's 100-200 million yuan repurchase plan, and the repurchased shares will be used for the later implementation of equity incentive plans and employee stock ownership plans, which are all conducive to the company's long-term development.

  According to industry insiders, the settlement of the 602 million performance compensation this time can further increase the company's cash reserves, and the negative factors are basically cleared, which is of great significance for increasing the company's profits.