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Zhenro Properties Group Limited ( (HK:6158) ) has issued an announcement.
Zhenro Properties Group Limited has issued a quarterly update on its action plans to address a disclaimer of opinion from its auditors, which highlighted significant doubts about the company’s ability to continue as a going concern. The company is actively working on a restructuring plan involving both offshore and onshore debt, though no significant progress has been made. Efforts include extending borrowings, negotiating new loans, and accelerating property sales without resorting to distressed sales. The company is also seeking alternative financing and cost-saving measures while exploring opportunities to dispose of equity interests to generate cash inflows.
More about Zhenro Properties Group Limited
Zhenro Properties Group Limited is a real estate company incorporated in the Cayman Islands, primarily engaged in property development and management within the PRC market. The company focuses on residential and commercial properties, navigating a challenging market environment.
YTD Price Performance: -40.30%
Average Trading Volume: 3,845,500
Technical Sentiment Signal: Sell
Current Market Cap: HK$174.7M
See more insights into 6158 stock on TipRanks’ Stock Analysis page.