Severe Revenue ContractionA 65.88% drop in the latest period is a material loss of scale that impairs fixed-cost absorption, weakens supplier and customer leverage, and raises the absolute hurdle to reach breakeven. Sustained top-line erosion makes operational recovery and margin improvement harder over the medium term.
Persistent Unprofitability And Negative MarginsChronic negative gross, EBIT and net margins indicate structural operational inefficiencies or pricing pressure. Continued losses reduce retained earnings, restrict reinvestment capacity, and increase the likelihood of external financing that can dilute shareholder value and limit long-term competitiveness.
Negative Operating And Free Cash FlowOngoing negative operating and free cash flow point to core cash burn, limiting the company's ability to fund capex, R&D, or scale operations internally. Reliance on external funding or subsidies raises execution risk and vulnerability to funding cycles or subsidy changes.