Extreme Leverage And Rising Debt-to-equityDebt-to-equity around 43x is a structural solvency concern: it elevates refinancing risk, interest burden and reduces financial flexibility. Even with positive cash flow, such extreme leverage magnifies shocks, constrains investment capacity and raises the likelihood of asset sales or dilutive financings over the medium term.
Sharp Revenue Decline And Weak Top-line TrendA severe revenue drop undermines scale economics and makes margin recovery more difficult. Falling top-line reduces predictability of future cash inflows from property sales, hampers operating leverage and increases reliance on asset disposals or external funding to meet obligations across the next several months.
Deep Negative Margins And Persistent Negative ROEConsistently negative margins and strongly negative ROEs point to structural value destruction, weakening the equity cushion and investor confidence. This persistent unprofitability limits internal capital formation and makes external capital more costly or scarce, exacerbating solvency risks over time.