CCT Fortis flags material going-concern uncertainty in supplemental annual results statement

• CCT Fortis issued supplemental disclosure to its annual results, flagging “material uncertainties” that could cast significant doubt on its ability to continue as a going concern.
• Auditor kept an unmodified opinion, citing HK$ 327 million net loss, HK$ 191 million net current liabilities, cash balance of HK$ 12 million.
• Liquidity pressure highlighted by HK$ 1.67 billion in interest-bearing borrowings, including HK$ 538 million due within 12 months, alongside HK$ 88 million in convertible bonds due on Dec. 31, 2025.
• Group has been selling assets to generate cash, with uncertainty over timing given market conditions.
• Loan covenant breaches tied to HK$ 1.05 billion in loans received a waiver valid through Dec. 31, 2026, while renewals of HK$ 254 million revolving loans remain at lenders’ discretion every three to 12 months.

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