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Openai/6970b34b-09b8-800c-ba70-f16e01819711
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=== 我不做漂亮表格,直接講資產負債表的痛點。 === ==== - 虧損已經認列 ≠ 錢已經回來 ==== * 代墊近 200 億是真金白銀 * 完工拖到 2026 → 財務成本還在跑 👉 就算不再認列新虧損, 現金壓力仍然存在 ==== 除非同時發生: ==== * 高額補貼 * 或母公司全力輸血 否則: * 銀行授信會趨嚴 * 淨值被侵蝕 * 不增資,撐不久 : ==== - 總經理下台 ==== * 董事長暫代 這通常發生在: * 壞消息差不多認完 * 接下來要處理「資本動作」的階段
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