HUSCOKE HLDGS (00704) announced that the Listing Committee conducted a review hearing on November 25, 2025, regarding the Listing Division's decision. On December 9, 2025, the company received a letter from the HKEX Listing Committee notifying that the Committee had reviewed the company's situation and determined it failed to maintain sufficient operational scale and assets of adequate value to support its operations, thus not meeting the requirements under Rule 13.24 of the Listing Rules. Consequently, the Listing Committee decided to uphold the Listing Division's decision to suspend trading of the company's shares under Rule 6.01(3).

The company's core coking production operations have been suspended since October 2021. It has repeatedly failed to implement plans to resume coking production. The latest proposal to restart operations remains at a preliminary stage and depends on securing additional financing. Over the past two years, the company has only engaged in coke trading, generating minimal revenue and recording net losses. The Listing Committee concluded that the financial deterioration was not temporary.

Overall, the company failed to demonstrate substantive, viable, and sustainable operations to the Listing Committee. Under Chapter 2B of the Listing Rules, the company may request a review of the decision by the Listing Review Committee. Any application must be submitted to the Committee Secretary by December 18, 2025 (within seven business days of the decision date). Unless appealed, trading suspension will take effect on December 19, 2025.

HUSCOKE HLDGS is evaluating the decision and consulting internally and externally before deciding whether to file for a review. Further announcements will be made as necessary.