Shanghai Broadband announces shareholder meeting, loan extension, and legal wins

Shanghai Broadband Technology Co., Ltd. (Shanghai Broadband) will hold its first extraordinary general meeting of shareholders on October 13, 2025. The agenda includes a proposed one-year extension of loans totaling 6,000m yuan from its controlling shareholder, Kunming Urban Transportation Investment Group Co., Ltd. The meeting will also feature the election of Ms. Yang Kunhui as an independent director, replacing Mr. Li Zheng. The loan extension, with an interest rate based on the 1-year LPR, is intended to support the company’s business development and improve financial liquidity.

In a separate development, Shanghai Broadband announced significant progress in its forced liquidation and litigation matters. The company received notification from the Hong Kong Petrochemical liquidator, FTI Consulting, regarding an initial and interim dividend payment of HK$1,632,158.76 to Shanghai Broadband and HK$239,870.18 to its subsidiary, Shanghai Yixuan International Trade Co., Ltd., totaling HK$1,872,028.94.

Furthermore, the Minhang District People's Court in Shanghai ruled that defendant Yan Fei is jointly and severally liable for $3,324,642.45 and 3,312,421.27 yuan owed to Shanghai Broadband, and $556,995.65 owed to Shanghai Yixuan International Trade Co., Ltd. The court costs were distributed among the parties, with Yan Fei bearing 196,494.27 yuan.