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mygg is even worse. It is purely an accounting technique to capitalize almost all the expenses as development cost which imo it is actually a worthless intangible asset.
Guess what? if u reclassify the development cost as an expenses, the company was just barely profitable even lost money in last few years...
The sustainability of their profitability is very much depend on "rental of A&P spaces". This was the part where they reluctant to answer the details to my question in their online briefing during the mco period. The huge operating cash flow from this segment was real but then it just didnt make any biz sense. So my gut says there must be some grey area involved therefore the profitability is so unbelievable consistent every quarter until everyone thinks it is too good to be true...
The usage of pp doesnt concern me. My only concern is can the company still able to secure the subsidies? iirc, the 3 years contract from the "A&P segment" is due for renewal soon...
