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okay. but I'm expecting the qr to be slightly better than previous, and probably will announce how much mw they have bid for the upcoming lss 4.. good luck bro!
The major reason of the high debt is due to the nature of the industry. Company who successfully bid the LSS projects from government are required to build the solar plant by their own, and only able to collect payment from the power they generate once the building is complete, which then the government will purchase the generated power from the company. There is a contract stated that government will purchase the power for X years (depends on each contract), that leads to the company to have a stable recurring income for years to come.
However, to start the solar plants building process, often company have to take in loan from banks (which is the main reason of the high debt, as. CYPARK has several bided projects in hand that yet to start operating yet) to build the plants. Their debts situation will get better after the plants been done and start operating.
Just a sharing from what I understood, and if there's any mistake please don't scold me ya, hahah