BAAN Holding Group Co. announced on April 2, 2026 that its accumulated losses have reached 312.73 million, representing 99.28% of its capital as of December 31, 2025. The losses were primarily attributed to declining performance in hotel and entertainment sectors due to changing consumer behavior, intensified competition, revenue declines at underperforming locations, asset impairment provisions, and losses from exiting non-viable branches. The company is implementing remedial measures including completing procedures for two agreements signed December 29, 2024 involving real estate asset acquisition through a SAR 304.96 million capital increase, restructuring operations, and focusing on viable entertainment and hotel projects. The board must publish recommendations for addressing accumulated losses by May 30, 2026 and an EGM invitation to consider the company's continuation by September 27, 2026.

Original announcement:

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