Core Viewpoint - The company has significantly underperformed its revenue forecasts for rental income and mineral sales for the fiscal year ending March 31, 2025, primarily due to ongoing market challenges and operational disruptions caused by natural disasters [1][2] Group 1: Financial Performance - The company projected rental income of approximately HKD 10.27 million and mineral sales of about HKD 13.02 million for the fiscal year ending March 31, 2025, but actual figures were HKD 7.55 million for rental income and HKD 0 for mineral sales, resulting in discrepancies of approximately 29.57% and 100% respectively [1] - As of March 31, 2025, the company held cash and cash equivalents of approximately HKD 7.943 million, with trade payables amounting to about HKD 47.449 million, and other payables totaling around HKD 110.92 million [2] Group 2: Operational Challenges - The company faced a record high vacancy rate due to a prolonged downturn in the Chinese market, which contributed to the rental income shortfall [1] - Typhoon Yagi caused significant damage to the Jiuyuan and Jinhao mines, delaying operational recovery and the completion of necessary licensing processes [1][2] - To restore operations at Jiuyuan mine, the company needs to invest approximately RMB 7 million for critical improvements, while Jinhao mine requires around RMB 100 million for equipment, infrastructure, and regulatory compliance [2] Group 3: Financing Efforts - The company is actively seeking diverse financing solutions, including project loans from financial institutions and potential strategic partnerships, to expedite the licensing process and improve financial stability [2] - The company is committed to addressing its outstanding debts and is pursuing financing negotiations and fundraising activities to enhance its financial condition and advance mining operations [2]
中加国信(00899)：持续致力于解决未偿债务，目前正积极推进融资磋商、战略合作及集资活动