China South City Holdings Ltd. has announced updates concerning a disclaimer of opinion from their auditors in the annual report for the year ended December 31, 2024. The auditors were unable to form an opinion on the company's financial statements, prompting the company to implement several measures to address the underlying issues. These measures include restructuring debts with banks, optimizing operational strategies, and reducing costs. Additionally, the company is addressing a winding-up petition filed by Citicorp International Limited. The board is committed to resolving these issues and will provide further updates as necessary.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.