Polibeli Group Ltd
For the period ended Jun 30, 2026. Filed Sep 21, 2026.
View on SEC.govAbout this filing
What a company based outside the US has published at home or sent to its shareholders. It is how many foreign companies share results and news between annual reports.
Jun 30, 2026 · Filed Sep 21, 2026
Use the contents to explore the available documents and sections.
Contents
Going concern
The Company’s unaudited condensed consolidated financial statements have been prepared on a going concern basis. The Company evaluates the adverse factors, including the historical adverse financial performance and expected loss-making situation in the foreseeable period, and such conditions in the aggregate indicated substantial doubt regarding the Company’s ability to continue as a going concern.
The Company intends to meet its cash requirements for the next twelve months from the issuance date of the unaudited condensed consolidated financial statements through the following mitigation plans:
| (i) | On October 30, 2024, the Company entered into a loan agreement with a related party, Hong Kong Xinyun Logistics Trading Limited (“Xinyun Logistics”), providing a credit facility in the amount of US$2,000,000 not subjecting to conditions or covenants in the terms. |
On March 25, 2026, the Company entered into a supplemental financial support letter with Xinyun Logistics, pursuant to which Xinyun Logistics will provide a financial support amount up to US$27,000,000.
As of the issuance date of the interim report, the aggregate undrawn amount available under the loan agreement and supplemental financial support arrangement was US$28,465,487 offered by Xinyun Logistics.
| (ii) | On September 28, 2025, the Company entered into a Trade Finance Facility Agreement with The Bank of East Asia (China) Limited Shenzhen Branch (“BEA”), and a supplementary agreement was signed on October 20, 2025 pursuant to the aforementioned facility agreement. Pursuant to the agreements, BEA provides the Company with a revolving trade finance facility of US$7,369,088 (RMB50,000,000) in equivalents value. The validity period of the facility is five years starting from the date of the agreement execution. As of the date of this interim report, there is an unutilized amount of US$3,692,487 in the lines of credit offered by BEA. |
| (iii) | We make continuous efforts to improve operating efficiency, standardize operations to reduce discretionary spending, enhance cost controls, and create synergies among resources. However, there can be no assurance that these measures will be successfully implemented. |
The Company identified conditions and events that, considered in the aggregate and before consideration of management’s plans, raised substantial doubt about its ability to continue as a going concern. After considering management’s plans, including the financial support and financing arrangements described above, management concluded that it is probable that these plans will be effectively implemented and will mitigate the conditions that raised substantial doubt. Accordingly, management concluded that substantial doubt was alleviated. As a result, management prepared the unaudited condensed consolidated financial statements assuming the Company will continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.