ST Huke advances debt resolution, elects new leadership

Shanghai Broadband Technology (*ST Huke) announced advancements in resolving the non-operating capital occupation issue and the election of a new chairman, signaling significant changes for the company. The outstanding amount of non-operating capital occupation remains at CNY 348,612,206.20, representing a substantial 921.63% of the company's latest audited net assets. The company is actively pursuing a resolution by planning to transfer historical debts through a public listing. It has appointed intermediaries to conduct audits and assessments of the debts, but this remains uncertain due to the complex historical nature of the debts. The company emphasized that its stock will continue to be subject to “other risk warnings,” urging investors to exercise caution.