ST Huke faces delisting risk, discloses fund use progress

Shanghai Broadband Technology (SSE:600608), trading as ST Huke, faces increasing scrutiny as it navigates a complex financial situation involving historical misappropriation of funds. A recent progress announcement details that the former controlling shareholder, Nanjing Switte Group, and its affiliates, are still holding ¥348,612,206.20, or 801.25% of the most recent audited net assets. This non-operating capital occupation has triggered ongoing "other risk warnings" on the company's stock.