Sharp Revenue DeclineA ~30% year-over-year revenue drop signals weakening demand or lost project share, eroding scale benefits and negotiating leverage with suppliers and contractors. Persisting top-line contraction jeopardizes capacity utilization and long-term profitability unless backlog or new wins rebound materially.
Negative Margins And Weak Operating ProfitabilityNegative net and operating margins indicate persistent pricing pressure or cost inefficiencies. Without margin recovery, the firm lacks internal funds for reinvestment, limiting asset renewal and competitive bidding capacity, and raising structural risks to sustainable returns and shareholder value creation.
Operating Cash Flow Collapsed To ZeroA drop to zero operating cash flow undermines the company's ability to fund working capital, maintain formwork assets, and cover labor without external financing. Structurally weak cash generation increases reliance on capital markets or creditors and constrains growth or recovery investment over months.