*ST Huke faces delisting risk amid ongoing financial struggles

Shanghai Broadband Technology (*ST Huke) has issued an abnormal stock trading fluctuation announcement, highlighting several critical financial issues and risks. The company reported 2024 operating revenue of CNY 1,722.67m and a net loss attributable to shareholders of CNY -568.28m. For the first three quarters of 2025, *ST Huke recorded operating revenue of CNY 544.03m, with a net profit attributable to shareholders of CNY 106.20m. However, net profit attributable to shareholders after deducting non-recurring gains and losses was negative at CNY -23.72m. Should the 2025 annual results fall below certain thresholds, the company's stock will be terminated from listing.

In addition to the delisting risk, *ST Huke also faces other significant challenges. The company's former controlling shareholder, Nanjing Sweet Group, and its affiliates still have outstanding capital occupation issues, potentially triggering other risk warnings. Furthermore, the transfer of a substantial stake in the company to Kunming Dianyu Investment Holdings Co., Ltd., agreed upon in December 2023, has not yet been completed due to share freezes.

Investors are advised to exercise caution due to significant fluctuations, with the stock price deviating by 12% over three consecutive trading days (November 3, 4, and 5, 2025). The company's management is actively working to resolve the equity transfer and capital occupation issues while reminding investors to pay close attention to disclosed information and market risks.