Shanghai XNG Holdings Ltd. has provided a quarterly update on its efforts to address its going concern issue, following the annual report for the year ended 31 December 2024. The company has made significant strides in streamlining its procurement process, achieving a cost reduction of 20% compared to March 2025. This trend is expected to continue. The company has been actively negotiating with banks for new borrowing sources and has successfully renewed existing loan facilities totaling RMB5 million. Additionally, Shanghai XNG Holdings completed a placing of new shares in June 2025, raising net proceeds of approximately HK$8.7 million, and is exploring further equity fundraising opportunities. Efforts to extend repayment of outstanding lease payments have resulted in rental reductions or waivers totaling approximately RMB2.17 million. The company remains optimistic about its business prospects for the year ending 31 December 2025, focusing on effective control of administrative and operating costs to improve financial performance and meet financial obligations.