High LeverageA debt-to-equity ratio near 2.37 and low equity ratio materially increase financial risk and constrain strategic flexibility. High leverage raises interest and refinancing burden, limits capacity for capex or R&D, and elevates vulnerability to demand shocks or rising rates over the medium term.
Negative Net ProfitabilitySustained net losses erode shareholders' equity and limit internal funding for operations and investment. Negative profitability hampers the company's ability to rebuild reserves, invest in product development or dealer support, and may force cost cuts that impair long-term competitiveness.
Negative Free Cash FlowNegative free cash flow and poor conversion of accounting income into cash reduce the firm's ability to service debt, fund working capital, and invest organically. Reliance on external financing to cover cash shortfalls increases execution risk and pressure on margins and balance sheet stability.