Differ Group Auto Limited (HK:6878) has released an update.
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Differ Group Auto Limited has issued a supplemental announcement to its 2023 annual report, revealing that their independent auditor has issued a disclaimer of opinion on the company’s financial statements due to multiple uncertainties related to going concern. The company has faced a significant net loss, substantial net operating cash outflow, and is in default on most of its debt, leading to doubts about its ability to continue operating. Management is taking steps to restructure debt and improve liquidity, but the outcome is uncertain.
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