At December 31, 2025, cash was $9.0 million versus short‑term loans of $9.26 million and long‑term borrowings of $2.18 million; there is also a non‑interest dividend payable to related parties of $4.63 million.
Continuing operations posted a $2.8 million net loss and negative operating cash flow of $3.6 million in 2025, though consolidated cash flow was supported by discontinued operations. Liquidity appears adequate for near‑term operations, but leverage, working capital swings, and refinancing at higher rates remain risks.







