Zhengping Road & Bridge (SH:603843) Xin Lang Cai Jing·2025-09-25 10:33Core Viewpoint - The company has obtained a mining license for its wholly-owned subsidiary, but faces significant uncertainties regarding future mining operations due to insufficient resources and funding [1] Financial Summary - As of June 30, 2025, the company's cash funds amount to 101,723,487.39 yuan, with 81,664,227.39 yuan restricted due to various factors [1] - The company's asset-liability ratio stands at 92.22%, indicating a high level of debt relative to its assets [1] Operational Challenges - The company lacks sufficient funding, personnel, and equipment for future mining operations, which may hinder the development of mineral resources [1] - Multiple factors, including funding constraints, market conditions, industry policies, and external environments, contribute to the uncertainty of future mining progress and profitability [1]