Going concern
Filing comparison
Zhibao Technology Inc. disclosed substantial doubt about its ability to continue as a going concern
No going-concern disclosure → Substantial doubt about ability to continue as a going concern
For the years ended June 30, 2023 and 2025, the Company reported net loss of RMB 43.1 million and RMB 62.0 million (US$8.7 million). For the years ended June 30, 2023, 2024 and 2025, the Company had operating cash outflows of RMB 1.1 million, RMB 3.8 million and RMB 20.7 million (US$2.9 million), respectively. These conditions raised substantial doubt about the Company’s ability to continue as going concern. Furthermore, the Company has entered into multiple financing arrangements involving convertible notes and warrants that contain variable conversion and settlement features. Certain of…
Evidence
- Blank check
- No
- Comparable
- Yes
- Current state
- substantial_doubt
- Current state label
- Substantial doubt about ability to continue as a going concern
- Direction
- escalated
- Located in
- going-concern note
- Prior filed
- 2025-04-28
- Prior form
- 20-F/A
- Prior state
- none
- Prior state label
- No going-concern disclosure
- Source
- ASC 205-40 going-concern note comparison
- Why
- Disclosure about the company's ability to continue as a going concern changed compared with its previous report.