HUSCOKE HLDGS (00704.HK): Receives Notice of Default from Cinda HK
NewTimeSpace News: Huscoke Holdings Limited (stock code: 00704) announced that on 4 November 2026 it received a notice of default issued by China Cinda (HK) Asset Management Co., Limited, which considers that the Company has failed to fully satisfy its minimum repayment obligations under the settlement agreement. Cinda HK declared that the Company has committed an event of fundamental default and required it to immediately remedy the default, perform its repayment obligations under the settlement agreement and top up cumulative repayment to not less than HK$18,000,000 immediately upon receipt of the notice; the fundamental default will remain continuing until the shortfall is fully repaid.
Cinda HK also reserves the right to take all necessary legal actions under the settlement agreement and relevant laws, including exercising and/or enforcing all rights, remedies, powers or discretions under the additional pledge documents and instituting legal proceedings or debt collection proceedings with the court. The reservation of rights and the issuance of the notice do not constitute a waiver or modification of any rights, remedies or arrangements under the settlement agreement.
The Company said that its new application for enforcement submitted to the Lvliang Intermediate People's Court on 9 January 2026, covering about RMB160 million owed by Energy Technology together with accrued interest, has received no response; on 18 September 2026 it engaged AllBright to submit an updated application based on the latest outstanding indebtedness of about RMB174 million. If enforcement is smoothly and timely implemented, the Company would have sufficient funds to meet its repayment obligations and continue performing the settlement agreement. It will continue pursuing the receivables, explore claims against the Lvliang Intermediate Court for losses caused by the delay, and maintain communication with Cinda HK. Trading in the shares has been suspended since 9:00 a.m. on 30 March 2026.
