ST Huke: RMB 348.6m still owed by former stakeholder

Shanghai Broadband Technology (*ST Huke, SSE:600608) announced that RMB 348,612,206.20 remains outstanding from Nanjing Swit Group, its former controlling shareholder, and related parties. This sum represents 921.63% of the company’s most recent audited net assets. Due to this unresolved issue, *ST Huke will remain under "Other Risk Warning" designation. The company plans to transfer ownership of the claims through public listings, but this is contingent on approvals and finding suitable recipients, and therefore carries uncertainties. The original breach occurred between 2000 and 2007, with legal and enforcement actions yielding little recovery.