Sincap Group’s Financial Position Deteriorates

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

Sincap Group Limited reported a net liability position of RMB 10,540,000 as of February 29, 2024, with total assets primarily consisting of cash and cash equivalents amounting to RMB 58,000. During February, the company saw a decrease in its cash balance from RMB 71,000 at the beginning to RMB 58,000 at the end, after accounting for new borrowings and various expenses such as professional services, audit, and director fees.

For further insights into SG:5UN stock, check out TipRanks’ Stock Analysis page.