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Hi-Target Navigational Tech reports significant uncovered losses

May 28, 2025 at 05:21 PM UTCBy FilingReader AI

Guangzhou Hi-Target Navigational Tech (SZSE:300177) announced that its unrecovered losses have surpassed one-third of its paid-in capital, reaching -CNY 253,767,983.07 against a paid-in capital of CNY 744,169,066 as of December 31, 2024. This situation, confirmed by a report from Lixin Certified Public Accountants, is attributed to a challenging macroeconomic environment that delayed project bids, acceptances, and revenue recognition, as well as slower customer payments. In response, the company is focusing on higher-margin precision positioning equipment and solutions, scaling back its spatial data and information business, and implementing stricter operational efficiency measures. Shareholders will vote on this matter at the company's first extraordinary general meeting of 2025. In 2024 operating cash flow improved reaching CNY 10,231.82.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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