Link: https://links.sgx.com/1.0.0/corporate-announcements/16NE92QLYPFEZPVJ/f4f09ead8cffe1d7e256785c45458ea94fbfb506766c2090029a587ee27aa5a3

Summary:

• Debao Property Development Ltd reported a 26% increase in revenue, reaching RMB 21.251 million for the first quarter of 2025.
• Gross profit for the period also increased by 13% to RMB 12.210 million.
• Despite the increase in revenue and gross profit, the Group recorded a net loss of RMB 20.978 million for the quarter.
• The Group's Net Working Capital is negative, primarily due to current loans that are payable within the next 12 months.
• The financial statements have been prepared on a going concern basis, which is contingent on factors including the rollover of existing loans, successful property sales, and continued financial support from the controlling shareholder.