"Performance" NEW FOCUS AUTO's annual loss expands to 128 million RMB, auditor issues opinion

NEW FOCUS AUTO (00360.HK) announced its full-year results for the year ending last December, with a revenue of RMB 585 million, an increase of 12.9% year-on-year. The loss widened to RMB 128 million, compared to a loss of RMB 67.923 million in the same period last year; the loss per share is 0.75 cents. No dividend is declared.

The independent auditor issued an opinion stating that the group incurred a net loss of approximately RMB 132 million in the previous year. As of December 31, 2025, the group's current liabilities exceed its current assets by approximately RMB 297 million. The total amount of interest-bearing bank and other borrowings of the group is approximately RMB 424 million, of which approximately RMB 419 million is due for repayment within the next twelve months, with principal and/or interest payments of approximately RMB 101 million constituting a default as of the year-end date, while the group's unrestricted cash and cash equivalents amount to only approximately RMB 31.11 million. These events and circumstances, along with other matters disclosed in Note 2(b), indicate a significant uncertainty that may cast substantial doubt on the group's ability to continue as a going concern