China First Capital Group (1269) Updates on Disclaimer of Opinion for FY2024

Bulletin Express10-31

China First Capital Group Limited (Stock Code: 1269) issued an update regarding the auditor’s disclaimer of opinion on going concern noted in its annual report for the year ended 31 December 2024. The auditor did not express an opinion on the company’s consolidated financial statements for FY2024 due to uncertainties surrounding its ability to continue as a going concern.

According to the announcement dated 31 October 2025, the company has taken several steps to strengthen its liquidity and financial position. A restructuring advisor was engaged to develop a preliminary restructuring plan for convertible bonds. Negotiations are under way with potential investors to introduce new capital and business opportunities aimed at stabilizing cash flow. In parallel, discussions with bondholders on a preliminary debt restructuring plan have involved meetings and site inspections of investors’ projects. The group has also been exploring extensions or replacements of existing borrowings, particularly in its automotive part business, and is working with a consultant to identify possible buyers for certain non-controlling interests.

The announcement indicates that further updates regarding the disclaimer of opinion will be published as necessary. Shareholders and investors are advised to exercise caution when dealing in the company’s securities.

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