Pan Hong Holdings flagged by auditors with material uncertainty over going concern in FY2025 results
Summary:
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Pan Hong Holdings Group Limited announced its independent joint auditors, BDO LLP and BDO Limited, included a material uncertainty related to going concern in their report on the Group’s audited financial statements for FY2025.
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The auditors issued an unmodified opinion, meaning the financial statements give a true and fair view, but highlighted serious liquidity risks.
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As at 31 March 2025, the Group reported:
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Accruals and other payables of approximately RMB375.4 million
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Current tax liabilities of approximately RMB73.9 million
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Amounts due to related parties of approximately RMB87.4 million
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Current bank and other loans of approximately RMB60.1 million
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Against cash and bank balances of just RMB29.5 million
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These conditions raise significant doubt on the Group’s ability to continue as a going concern, though the auditors did not modify their opinion.
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The Board stated that all material disclosures have been provided to ensure orderly trading of the Company’s shares.
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Shareholders and investors are advised to exercise caution and to read this update together with the Group’s full audited statements and the upcoming annual report.