Sincap Group Ends Year with Net Liabilities

Sincap Group Ltd. (SG:5UN) has released an update.

Sincap Group Limited reported a net liability position of RMB 9,981 thousand as of December 31, 2023, with assets primarily in cash and cash equivalents totaling RMB 71 thousand against liabilities over RMB 10,052 thousand. The monthly cash utilization remained stable with an opening and closing balance of RMB 71 thousand, after accounting for minimal non-cash adjustments. These unaudited figures reflect the company’s financial status at the end of the year, indicating a challenging balance sheet.

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