Universal tech (01026) announced that when preparing the consolidated financial statements, it has evaluated the group's ability to continue operations...
According to the announcement of Universal tech (01026) on the preparation of the consolidated financial statements, the group's ability to continue operations has been evaluated. As of the year ended December 31, 2023, the group incurred a net loss of HKD 193 million, and as of that date, the group's net current liabilities amounted to HKD 260 million. The consolidated financial statements have been prepared on a going concern basis due to the following reasons: as of December 31, 2023, the group had unused bank financing of HKD 420 million; the directors expect the group to renew its bank financing when it matures based on the group's stable business relationship with banks and past experience; and the group periodically reviews its investment property portfolio and adjusts its investment strategy as necessary to improve its cash flow position.