Sincap Group Reports Unaudited Net Liabilities

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

Sincap Group Limited reported a net liability position of RMB 10,298 as of January 31, 2024, with total assets comprising only cash and cash equivalents of RMB 71. Despite liabilities exceeding RMB 10,000, the company’s monthly cash utilization remained stable with an unchanged balance of RMB 71. The financial figures in this announcement are unaudited and encompass non-cash adjustments such as unrealized foreign exchange movements.

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