Negative Equity And High LeverageNegative shareholders' equity and a negative debt-to-equity ratio point to a fragile capital structure and elevated leverage. This persistent imbalance constrains borrowing capacity, increases refinancing and covenant risk, and can force rushed or dilutive recapitalisations or asset sales to restore solvency over the next several months.
Weak Profitability And Falling RevenueA sustained negative net margin (-10.31%) coupled with declining revenue (-7.50%) signals ongoing operational underperformance. Continued losses erode retained capital, reduce the company's ability to self-fund monetisation initiatives, and increase dependence on external financing or asset disposals to sustain operations in the medium term.
Deteriorating Free Cash Flow GrowthA steep -79.72% decline in free cash flow growth and weak operating-cash-flow-to-net-income conversion indicate deteriorating cash quality. This materially raises near-term liquidity risk, limits strategic optionality, and may compel asset realisations or external funding that could be value-dilutive within the next several months.