SBT(SH:600608) Xin Lang Cai Jing·2025-12-02 10:20Core Viewpoint - The announcement from *ST Huike indicates significant shareholding and pledge issues involving its major shareholder, Kunming Chantuo Company, which may impact liquidity but not control or operations [1] Shareholding and Pledge Details - Kunming Chantuo Company holds 20.7854 million shares, accounting for 6.32% of the total share capital [1] - As of the announcement date, 10.3927 million shares have been pledged, representing 50% of its holdings and 3.16% of the total share capital [1] - All of the shares held by Kunming Chantuo Company are under a pending freeze, which started on November 18, 2025, affecting 100% of its holdings [1] Financial Implications - The freeze is related to a guarantee provided for a loan contract amounting to 515 million yuan, with ongoing negotiations for resolution [1] - The situation is not expected to lead to a change in company control, nor will it affect production and operations, and there are no risks of forced liquidation or transfer [1]