ST Huke faces delisting risk amid regulatory probe

Shanghai Broadband Technology, also known as *ST Huke, announced abnormal stock trading activity after receiving a notice from the China Securities Regulatory Commission on December 12, 2025. The notice concerns an investigation into alleged information disclosure violations. The company's stock experienced a cumulative deviation in closing price decline of 12% over three consecutive trading days from December 15-17, 2025.

The company faces significant delisting risk, having been placed under a delisting risk warning on April 30, 2025. This was due to negative operating results in 2024, including an operating income of 17,226,700 yuan, total profit of -72,353,000 yuan, and net profit attributable to shareholders of -56,828,000 yuan. If the total profit, net profit, or net profit after deducting non-recurring gains and losses for 2025 remains negative and operating revenue falls below 300,000,000 yuan, the company's shares will be terminated from listing.

Additionally, *ST Huke is still under other risk warnings due to outstanding fund occupation issues involving its former controlling shareholder, Nanjing Sweet Group, and its affiliates. The company's controlling shareholder and other major shareholders also have equity pledges, markings, and freezes. Investors are advised to exercise caution due to market investment risks.