Negative Shareholders' EquityNegative equity is a structural solvency concern: liabilities exceed assets, constraining access to traditional financing and increasing refinancing risk. This condition can force asset disposals, limit ability to fund developments, and materially restrict strategic options over the medium term.
Steep Revenue DeclineA 41.7% revenue drop signals material demand or execution issues that reduce scale and operating leverage. Sustained revenue contraction weakens margins, bargaining power in deals, and requires new project wins or market expansion to rebuild a durable revenue base.
Negative Operating Cash FlowPersistent negative operating cash flow indicates core business activities are not generating cash, forcing reliance on financing or asset sales despite FCF improvement. Ongoing negative OCF undermines sustainability, limits reinvestment capacity, and elevates liquidity risk over the medium term.