24 Other non-current liabilities

In 2023, the group recognized a put option liability for the Qiaoyi acquisition based on the discounted put exercise price in equity in the amount of CHF 10.0 million, which is accreted over the contract period in equity (December 31, 2023: CHF 9.8 million). At any time after July 5, 2027, the non-controlling shareholders can exercise a put option to sell, and the group can exercise a call option to purchase, the remaining 20% equity interest held by the non-controlling shareholders for a formula-based purchase price. As of December 31, 2024, the put option liability amounted to CHF 14.8 million. Further details regarding the subsequent measurement of the put option liability are disclosed in note 20.

Further details regarding the liability from sale of investments in subsidiaries are disclosed in note 26.

Further details regarding derivative financial instruments are disclosed in note 27.