STO Express announced that Xi Chunyang, the ex-husband of one of the company's actual controllers Chen Xiaoying, has withdrawn his lawsuit seeking confirmation of shareholder status, bringing an end to the equity battle worth 280 million yuan that lasted over seven months. Xi Chunyang filed the lawsuit with the Yuhuan City People's Court in January 2026, requesting confirmation that 20.2842 million shares out of the 40.5685 million STO Express shares registered under Chen Xiaoying's name belong to him, with a corresponding market value of approximately 280 million yuan at the time. On August 3, 2026, the Shanghai Qingpu District People's Court ruled to permit Xi Chunyang to withdraw the lawsuit. The company stated that this litigation will not have a material adverse impact on its daily operations or profits.
STO Express Co LtdLawsuit withdrawal removes legal uncertainty over equity ownership, ending a 280 million yuan dispute.