There is no "uncertainty". HK ROBOTICS (00370) uses a 3 billion yuan order to showcase its strength in the market.

Understood that, on 30th June, HK ROBOTICS (00370) issued a supplementary announcement regarding the financial report for the fiscal year ending in late March, stating that the company has not repaid a trust loan of 2.145 billion Hong Kong dollars and emergency interest of approximately 0.51 billion Hong Kong dollars due on 31st March 2025, and that the company is still negotiating with the lenders to extend the loan period. The existence of such uncertainties may raise significant doubts about the company's ability to continue operating. The supplementary announcement mainly addresses the lack of mention in the financial report by independent auditors about the "significant uncertainty regarding the ability to continue operating," which is primarily based on the prudence principle of accounting audits and does not have a substantial impact on the company. Market participants have stated that the supplementary document does not indicate any issues with the company, but is mainly a requirement of accounting disclosure principles for correcting, supplementing, or re-explaining the reported content. In the financial report for the 2025 fiscal year, HK ROBOTICS also disclosed that even if the company and lenders cannot reach an agreement on extending the maturity date, it will not have a significant impact on the company's continued operation of the majority of its business. The company expects to resolve this issue in the future, as the collateral value pledged for the trust loan to lenders is expected to be sufficient to repay most of the loan, while the remaining portion of the trust loan can be paid off using the cash flow generated from the company's future operations. The financial report shows that as of March 2025, the company has sufficient liquid assets that can be realized in the short term, including receivables and interest of 2.46 billion Hong Kong dollars, accounts receivables and other receivables of 3.45 billion Hong Kong dollars, and contract assets of 3.23 billion Hong Kong dollars, totaling 9.14 billion Hong Kong dollars. The trust loan, which accounts for the majority of the interest-bearing liabilities of the company, is less than 30% of the above-mentioned liquid assets. Additionally, the company's other short-term loans and bank borrowings total only 0.83 billion Hong Kong dollars, indicating minimal pressure. HK ROBOTICS is currently undergoing a rapid transformation, with its humanoid Siasun Robot & Automation business making progress, securing orders from multiple companies. Equity and debt investors are generally supportive and optimistic about the company's growth prospects. However, if issues arise with the debtors, debt investors may be eager to exit their positions. The company is actively seeking an extension for the trust loan, which may be delayed due to the difficulties faced by the lender in operations. It is worth noting that on 2nd July, HK ROBOTICS announced the progress of orders for its humanoid Siasun Robot & Automation business, signing a purchasing cooperation agreement with Tonghong Security for the purchase of smart security Siasun Robot & Automation. According to the agreement, HK ROBOTICS and Tonghong Security agreed that within two years from the date of the agreement, they will purchase a minimum of 1,000 smart security Siasun Robot & Automation units in Hong Kong, with a unit price of 300,000 RMB, totaling 300 million RMB. The first batch of purchases is expected to be 50-100 units of smart security Siasun Robot & Automation, with subsequent batches of 100 units each. In mid-June, the company held a "Hong Kong Intelligent Siasun Robot & Automation Development Prospect Forum and HK ROBOTICS Smart Brand Strategy Launch Ceremony" at the Hong Kong Science Park, signing agreements with Meinian Onehealth Healthcare Holdings, FSE LIFESTYLE, Tiitian Technology, and DEEWIN. The continued signing of orders indicates that the company's humanoid Siasun Robot & Automation products are widely recognized in the market and rapidly expanding in Hong Kong. Looking ahead, the company is expected to secure more orders from previous initiatives, including the demand for educational Siasun Robot & Automation in the AI education joint venture company. As more customers purchase their products, there will likely be a greater tilt towards policy and industry demand, leading to an expansion of market share in Hong Kong and mainland China. In the initial stages of the commercialization boom of humanoid Siasun Robot & Automation, the company's early advantage, technological edge, and market advantages are expected to set it apart in the industry. Overall, the supplementary documents from HK ROBOTICS are routine announcements, and the company has sufficient liquid assets and collateral assets to repay the trust loan, with minimal impact on the sustainable operating business. As the company continues to transform into the humanoid Siasun Robot & Automation track, securing rapid orders and having high growth expectations, it is expected to bring in a positive net cash flow for the company. In the high-growth track, the company will strive to drive performance through order-based models.