Negative Operating Cash FlowNegative operating cash flow is a durable liquidity concern for a developer: it raises reliance on external financing or customer advances to fund construction and handovers. Persisting OCF deficits can constrain project execution, increase financing costs, and pressure working-capital cycles over months.
Low Equity Ratio / High LiabilitiesAn equity ratio of 22.4% means assets are largely funded by liabilities, leaving a smaller capital cushion. Structurally higher liabilities reduce flexibility to absorb shocks, may limit access to favorable project financing, and increases the sensitivity of the business to interest or funding-cost shifts.
Weak Recent Revenue & EPS TrendsSignificant negative revenue and EPS growth point to waning sales momentum or execution challenges. Over a multi-month horizon this can impair cash generation, delay recoveries on project launches, and erode margin leverage, making it harder to finance developments internally or improve profitability.