KAISUN (8203) Provides Update on Disclaimer of Opinion Regarding Going Concern in 2024 Annual Report

Bulletin Express
11/01

KAISUN Holdings Limited (the Company) announced measures taken since 31 July 2025 to address the disclaimer of opinion on going concern in its 2024 Annual Report. According to the latest information, the Group continues to focus on its coal mining business in Xinjiang, noting supportive government policies and stable operations. A coal logistics platform project in Turpan is nearing completion and is projected to begin generating revenue soon, while the supporting coal washing plant is expected to contribute steady income once production commences.

To streamline operations, the Group has closed its consulting services segment, sold its trust and trustee services business, and plans to deregister certain offshore entities. These steps aim to reduce administrative expenses by about HK$200,000 annually. In conjunction with cost-control initiatives, the Group has optimized human resources, reducing the workforce by approximately eight employees and accepting the resignation of two Executive Directors. These steps are expected to save about HK$7 million annually in salary expenses.

The Group has also sold part of its investments held for trading, converting realized gains into cash to strengthen daily operations. Management reports that these measures have improved the Group’s liquidity and financial stability, with the Board of Directors expressing confidence in the foundation this lays for the Group’s going concern and future operations.

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