Summary by Moomoo AI
NEW FOCUS AUTOMOTIVE TECHNOLOGY HOLDINGS LIMITED ANNOUNCES AUDITED ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023. The report showed that the company's revenue was about RMB555,377,000, down about 6.13% from the previous year's RMB591,671,000. Gross profit was RMB95,568,000, with a slight increase in gross profit. The loss for the year was RMB88,396,000, an increase from RMB47,797,000 in the previous year. The company faces liquidity pressure, with short-term borrowings of RMB225,634,000 and cash and cash equivalents of only RMB78,619,000. THE COMPANY IS TAKING STEPS TO IMPROVE OPERATING CASH FLOW, INCLUDING TIGHTENING COST CONTROLS, SEEKING NEW INVESTMENT AND BUSINESS OPPORTUNITIES, AND ACCELERATING THE PROGRESS OF INVESTED BUSINESS PROJECTS. The Board considers that the company will have sufficient working capital to meet the requirements and maintain commercially viable operations. The directors do not propose to pay a final dividend for the year.