SELL

📉 ADMM: SELL Signal (8/10) – Transmission of Quarterly Report for the period ended September 30, 2025

⚡ Flash Summary

Artistic Denim Mills Limited (ADMM) reported a significant downturn in its financial performance for the quarter ended September 30, 2025. The company experienced a notable decrease in net sales, falling from Rs. 5.257 billion in 2024 to Rs. 4.298 billion in 2025, primarily due to economic slowdown and pricing pressures. Consequently, the company reported a net loss after tax of Rs. 149.596 million, a stark contrast to the Rs. 5.095 million profit in the same period last year. This resulted in a loss per share of Rs. 1.78, compared to an earnings per share of Rs. 0.06 in the previous year.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Net sales decreased by approximately 18.25%, from Rs. 5.257 billion to Rs. 4.298 billion.
  • 📉 Gross profit declined significantly from Rs. 391.784 million to Rs. 267.391 million, a decrease of roughly 31.76%.
  • 📈 Finance costs increased from Rs. 157.365 million to Rs. 195.971 million, up by approximately 24.53%.
  • 🔴 The company reported a net loss of Rs. 149.596 million, compared to a net profit of Rs. 5.095 million in the prior year.
  • 📉 Loss per share stood at Rs. 1.78, versus earnings per share of Rs. 0.06 in the corresponding period last year.
  • ⚠️ The decline in sales is attributed to overall economic slowdown, pricing pressures, and stagnant exchange rates.
  • ⚠️ Gross profitability was impacted by increased production costs, particularly rising energy prices.
  • 🏭 The company is investing in renewable energy initiatives to mitigate the impact of escalating energy costs.
  • 🌍 Global macroeconomic outlook anticipates moderate GDP growth of 3.1% but warns of climate vulnerabilities and trade protectionism.
  • ⚠️ A 19% tariff on textile imports from Pakistan by the U.S. could compress export margins.
  • 💰 Trade and other payables decreased significantly by Rs. 662.931 million, impacting cash flow.
  • 💸 Net cash used in operating activities was Rs. (85.954) million compared to cash generated of Rs. 139.733 million last year.
  • 🏦 Outstanding counter guarantees with conventional banks increased slightly to Rs. 1.027 billion.

🎯 Investment Thesis

Given the poor financial performance, declining sales, and increased losses, a SELL recommendation is warranted for Artistic Denim Mills Limited (ADMM). The company faces significant headwinds, including rising costs, pricing pressures, and regulatory risks. The company’s investment in renewable energy initiatives may offer some long-term benefits, it is insufficient to offset the current challenges. The price target should be adjusted downward to reflect these negative factors. Time horizon: SHORT_TERM.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 GFIL: SELL Signal (8/10) – Financial Results for the Quarter Ended 2025-09-30

⚡ Flash Summary

Ghazi Fabrics International Limited (GFIL) reported unaudited financial results for the quarter ended September 30, 2025. The company’s net sales were PKR 1,069,640, a sharp decline compared to PKR 540,824,921 in the same quarter last year. The company has reported a Loss after taxation of PKR (70,616,971), a decline from the PKR (119,115,024) loss in the same period last year. The company did not declare any cash dividend, bonus shares, or right shares for the period.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Net sales plummeted to PKR 1,069,640 from PKR 540,824,921 YoY.
  • ⚠️ Gross loss reported at PKR (52,355,194), compared to a gross loss of PKR (86,598,796) last year.
  • ❌ Operating loss significantly decreased to PKR (69,851,068) from PKR (114,983,872).
  • 💸 Finance costs decreased to PKR 282,702 from PKR 1,035,686 YoY.
  • 🔻 Loss before taxation decreased to PKR (70,133,770) from PKR (112,412,277).
  • 📉 Loss after taxation improved to PKR (70,616,971) from PKR (119,115,024).
  • 📉 Basic loss per share decreased to PKR (2.16) from PKR (3.65).
  • 🚫 No cash dividend declared for the period.
  • 🚫 No bonus shares declared for the period.
  • 🚫 No right shares declared for the period.
  • 📉 Selling and distribution expenses decreased to PKR 334,950 from PKR 3,134,123.
  • 🏢 Administrative expenses decreased to PKR 16,438,799 from PKR 23,248,026.

🎯 Investment Thesis

Based on the current financial performance, a SELL recommendation is warranted. The steep decline in revenue and continued losses raise concerns about the company’s long-term viability. A price target cannot be accurately given based on the data provided; further analysis of the company’s assets, liabilities, and future earnings potential is needed. Time horizon: Short Term

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 DWTM: SELL Signal (9/10) – Transmission of Quarterly Report for the Period Ended September 30,2025

⚡ Flash Summary

Dewan Textile Mills Limited reported unaudited condensed interim financial statements for the first quarter ended September 30, 2025. The company’s net revenue remained nil due to the closure of operations since December 2015. The financials reflect a net loss after taxation of Rs. 27.920 million and negative reserves of Rs. 6,000.936 million, resulting in a negative equity of Rs. 2,893.572 million. Management is pursuing restructuring of liabilities and is hopeful that restructuring proposals will be accepted.

Signal: SELL 📉
Strength: 9/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • ❌ Revenue remained nil for the quarter due to continued suspension of manufacturing operations since December 2015.
  • 📉 Net loss after taxation was Rs. 27.920 million for the quarter ended September 30, 2025.
  • ⚠️ The company’s negative reserves amounted to Rs. 6,000.936 million.
  • ⛔️ Negative equity stood at Rs. 2,893.572 million.
  • Expired short-term borrowing facilities have not been renewed, exacerbating liquidity problems.
  • ⚖️ Lenders have initiated litigation for repayment of liabilities.
  • 🏛 The company is pursuing restructuring of its liabilities with lenders.
  • 🤞 Management is hopeful that restructuring proposals will be accepted by financial institutions.
  • 🏭 The company’s manufacturing operations have been suspended since December 2015 due to adverse industry conditions and working capital constraints.
  • 🤔 The company’s ability to continue as a going concern is under significant doubt.
  • 💹 Finance costs decreased slightly from (6,875,797) to (7,237,108)
  • ✅ Other income increased from 6,450,000 to 7,350,000

🎯 Investment Thesis

Given the severe financial distress and operational shutdown, a SELL recommendation is warranted. There is a high risk of further value erosion. The company’s turnaround is highly uncertain and contingent on factors outside of its control. No meaningful price target can be established given the current situation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 FIMM: SELL Signal (7/10) – Transmission of Quarterly Report for 1st Quarter Ended September 30, 2025

⚡ Flash Summary

First Imrooz Modaraba reported a net loss of Rs. 2.18 million for the quarter ended September 30, 2025, compared to a profit of Rs. 29.16 million in the same period last year. This decline is primarily attributed to a decrease in sales and gross profit, impacted by the trade war between China and the USA, leading to inventory buildup in China and discounted product offerings. Sales decreased from Rs. 308.11 million to Rs. 252.40 million, while gross profit fell from Rs. 74.68 million to Rs. 50.11 million. The management is focused on controlling costs and increasing sales in the coming quarters to improve results.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Net loss of Rs. 2.18 million compared to a profit of Rs. 29.16 million YoY.
  • 📉 Sales decreased from Rs. 308.11 million to Rs. 252.40 million YoY.
  • 📉 Gross profit declined from Rs. 74.68 million to Rs. 50.11 million YoY.
  • 🇨🇳 Trade war between China and USA impacting sales due to inventory buildup.
  • 📉 Loss per certificate (basic & diluted) is Rs. (0.73) compared to earnings of Rs. 9.72 last year.
  • ⚠️ Modaraba has a substantial stock of products needing to be sold at a discount.
  • ⬆️ Operating expenses increased from Rs. 26.19 million to Rs. 33.0 million YoY.
  • ⬇️ Other income decreased from Rs. 0.94 million to Rs. 0.13 million YoY.
  • 🏢 Management focusing on cost control and increasing sales.
  • 🏦 Multiple banking facilities utilized, including Diminishing Musharaka and Musawamah.
  • ⚖️ Contingency related to Sindh Workers Welfare Fund (SWWF) under appeal.
  • 🧾 Post-dated cheques issued to Collector of Customs amount to Rs. 74.920 million.
  • 🤝 Related party transactions include expenses and rent with Group Companies.
  • 🗓️ Financial information approved for issue on October 28, 2025.

🎯 Investment Thesis

Recommendation: SELL. Rationale: The significant decline in financial performance, including a net loss, decreased sales and gross profit, and challenges in managing inventory, makes First Imrooz Modaraba unattractive for investment. The ongoing trade war and its impact on sales necessitate a conservative approach. Price Target: Rs. 8/- Time Horizon: Short-term (6 months) due to potential for future improvement if management’s cost-control and sales-increase efforts are successful.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 HMIM: SELL Signal (8/10) – TRANSMISSION OF QUARTERLY REPORT FOR THE PERIOD ENDED 30.09.2025

⚡ Flash Summary

Haji Mohammad Ismail Mills Limited reported no sales or manufacturing activity for the first quarter ended September 30, 2025, mirroring the same period last year. The company incurred a pre-tax loss of Rs. 1,284,433 and a loss per share of Rs. (0.11). Management acknowledges the adverse market factors impacting the company’s financial position and is currently defending a winding-up petition filed by the SECP in the High Court of Sindh. They are seeking opportunities for corporate restructuring or merger.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • ❌ No sales or manufacturing activity reported for Q1 2025.
  • 📉 Pre-tax loss of Rs. 1,284,433.
  • 📉 Loss per share of Rs. (0.11).
  • ⚠️ Adverse market conditions continue to negatively impact the company.
  • 🏛️ Winding-up petition filed by SECP is still sub judice; management is defending the case.
  • 💼 Management seeking corporate restructuring or merger opportunities.
  • 👍 Political stability and reduced markup rates cited as potential improvements.
  • 🚧 Electricity, gas, and petroleum prices remain hurdles to economic growth.
  • 💰 Investments available for sale increased significantly from Rs. 332,325 to Rs. 2,395,050 since June 30, 2025.
  • 💸 Cash and bank balances decreased from Rs. 3,540,846 to Rs. 2,487,228 since June 30, 2025.
  • ⚖️ Contingency exists related to a notice from the National Bank of Pakistan regarding a loan written off in 2003; case is still pending resolution.
  • ✅ The company has taken steps to comply with corporate governance regulations.

🎯 Investment Thesis

Given the company’s current state, a SELL recommendation is warranted. The lack of revenue, continued losses, legal challenges, and reliance on uncertain future events make this a high-risk investment with a low probability of success. Investors should seek opportunities elsewhere until there is concrete evidence of a successful turnaround.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 PAKRI: SELL Signal (7/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Pakistan Reinsurance Company Limited (PAKRI) reported its financial results for the quarter ended September 30, 2025. The company’s net insurance premium decreased by 13.2% compared to the same period last year. Underwriting results experienced a significant downturn, dropping by 97.9%. Despite these challenges, investment income remained relatively stable, decreasing slightly by 1.5%. Overall, the company’s profit after tax decreased by 31% year-over-year.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Net insurance premium decreased by 13.2% to PKR 6.998 billion from PKR 8.060 billion.
  • 📉 Underwriting results plummeted by 97.9%, resulting in a profit of only PKR 35.659 million versus PKR 1.732 billion.
  • 💼 Management expenses decreased by 9.4% to PKR 1.318 billion from PKR 1.455 billion.
  • 💰 Investment income saw a slight decrease of 1.5% to PKR 2.483 billion from PKR 2.520 billion.
  • 📈 Rental income increased by 11.9% to PKR 123.500 million from PKR 110.383 million.
  • 📉 Profit before tax decreased by 40% to PKR 2.864 billion from PKR 4.795 billion.
  • 📉 Profit from Window Retakaful Operations decreased by 57% to PKR 57.893 million from PKR 134.867 million.
  • 🧾 Income tax expense decreased by 26.7% to PKR 1.034 billion from PKR 2.155 billion.
  • 📉 Profit after tax decreased by 31% to PKR 1.831 billion from PKR 2.639 billion.
  • 📉 Earnings per share decreased to PKR 2.03 from PKR 2.93.
  • ❌ No cash dividend, bonus shares, or right shares were declared.
  • ⚠️ Reinsurance recoveries against outstanding claims decreased from PKR 15.767 billion to PKR 9.536 billion as of September 30, 2025.
  • ⚠️ Cash and bank balances have significantly dropped from PKR 3.236 billion to PKR 1.158 billion.

🎯 Investment Thesis

Given the company’s declining financial performance, operational challenges, and increased risks, a SELL recommendation is warranted. The significant decrease in underwriting results and profit after tax indicates fundamental weaknesses in the company’s operations. While the stock might offer some speculative upside in the future, the current risk-reward profile is unfavorable. Investors should seek alternative investment opportunities with stronger growth prospects and lower risk profiles.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 HUMNL: SELL Signal (7/10) – Transmission of Quarterly Financial Statements for the Period Ended 30-09-2025

⚡ Flash Summary

HUM Network Limited (HUMNL) reported unconsolidated financials for the quarter ended September 30, 2025. Net revenue decreased from Rs. 1.99 billion in 2024 to Rs. 1.60 billion in 2025. Profit after tax also declined significantly from Rs. 677.47 million to Rs. 415.15 million, resulting in a lower EPS of Rs. 0.37 compared to Rs. 0.60 in the same period last year, attributed primarily to reduced revenues.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Revenue declined: Net revenue decreased from Rs. 1,989.87 million to Rs. 1,602.47 million year-over-year.
  • 📉 Profit drop: Profit after tax fell from Rs. 677.47 million to Rs. 415.15 million.
  • 📉 EPS decrease: Earnings per share decreased from Rs. 0.60 to Rs. 0.37.
  • 📊 Cost efficiency focus: Company emphasizes focus on cost efficiencies to support future growth.
  • 📺 Program lineup: HUM TV launched dramas like Laadli, Jama Taqseem, Masoom, and season 2 of Sultan Salahuddin Ayyubi.
  • 🌐 Digital expansion: HNL is expanding its digital presence to align with changing audience preferences.
  • 🤝 Social responsibility: Continued commitment to uplifting education through Momina & Duraid Foundation.
  • 📉 Consolidated revenue decreased: Consolidated net revenue decreased from Rs. 2,249.37 million to Rs. 1,761.72 million year-over-year.
  • 📉 Consolidated profit decrease: Consolidated profit after tax decreased from Rs. 712.14 million to Rs. 315.90 million.
  • 🎬 Film releases: HUM Films released ‘Hum Sub’ and brought Turkish animated hit ‘Smart Momo Rabbit’ to Pakistani cinemas.
  • 📰 HUM News commitment: Channel emphasizes accurate, evidence-based journalism.
  • 🏏 Ten Sports rights: Secured broadcasting rights for cricket events, including the Pakistan, Afghanistan, and UAE Tri-Nation T20I Series.
  • 🌱 Economic recovery signs: Pakistan’s economy shows signs of recovery, but momentum remains modest amid global slowdown.
  • 💼 Adaptability: HNL remains strategically adaptable, enhancing efficiency and diversifying revenues to navigate challenges.

🎯 Investment Thesis

Given the decline in revenue, profit, and EPS, and potential liquidity concerns. The price target is reduced, reflecting the diminished financial performance and heightened risk. The time horizon is medium-term, pending signs of revenue recovery and improved profitability.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 DWAE: SELL Signal (8/10) – Transmission of Quarterly Report for the Period Ended September 30,2025

⚡ Flash Summary

Dewan Automotive Engineering Limited reports a challenging quarter ending September 30, 2025. The company experienced a gross loss of PKR 3.015 million, slightly improved from PKR 3.297 million in the same period last year. Loss after taxation remained substantial at PKR 12.831 million, compared to PKR 11.849 million last year. The company’s operations are severely constrained by a lack of working capital, hindering its ability to meet sales targets despite the resumption of operations by a key sister concern.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Gross loss reported at PKR 3.015 million for the quarter ended September 2025.
  • 📉 Loss after taxation increased to PKR 12.831 million from PKR 11.849 million year-over-year.
  • ⚠️ Operations are significantly hampered by a severe shortage of working capital.
  • 🚗 Sales of passenger vehicles in the auto industry fell by over 20% due to weak consumer demand.
  • ✅ Commercial vehicles segment remained stable due to infrastructure and logistics projects.
  • ℹ️ Inflation relaxed to 3%-4%, and industry growth accelerated to almost 9% year-on-year.
  • 🏢 The company’s current liabilities exceed its current assets by PKR 1,748.86 million.
  • ⛔ Company is unable to ensure payments to creditors due to liquidity problems.
  • 👍 Management believes funds can be arranged from associated companies.
  • 🔒 The company has not recognized deferred tax assets of Rs.215.512 million due to uncertainty regarding future taxable profits.
  • 🤝 Transactions with related parties, including Dewan Mushtaq Motors, continue in the normal course of business.
  • 🗓️ These financial statements were authorized for issue on October 29, 2025.

🎯 Investment Thesis

Given the significant financial challenges and operational constraints, a SELL recommendation is warranted. The company’s negative equity, persistent losses, and dependence on external funding sources create a high-risk investment profile. There is no price target.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 SCL: SELL Signal (8/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Shield Corporation Limited (SCL) reported financial results for the quarter ended September 30, 2025. The company experienced a slight decrease in sales, offset by increased cost of sales, resulting in a decrease in gross profit. SCL reported a loss for the period, whereas it recorded a profit for the same period last year. The Board of Directors did not recommend any cash dividend, bonus shares, or right shares.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Sales – net decreased slightly from 719.91 million to 717.67 million Rupees.
  • 💰 Cost of sales increased from 552.66 million to 537.28 million Rupees.
  • 📈 Gross profit increased from 167.25 million to 180.39 million Rupees.
  • 📊 Selling and distribution expenses remained relatively stable around 158.3 million Rupees.
  • 💸 Administrative and general expenses increased from 16.06 million to 17.71 million Rupees.
  • 📉 Other operating income declined substantially from 7.88 million to 0.86 million Rupees.
  • 📉 Finance costs decreased from 48.83 million to 20.73 million Rupees.
  • ❌ Loss before income tax significantly increased from 46.69 million to 27.03 million Rupees.
  • ⚠️ Minimum tax differential levy increased from 8.89 million to 9.20 million Rupees.
  • 📉 Loss before income tax went from (55.59M) to (36.23M) Rupees.
  • 📉 Loss for the period is (36.23M) Rupees.
  • 📉 Loss per share – basic and diluted improved from (14.85) to (9.29) Rupees.
  • ❌ No cash dividend was recommended by the Board of Directors.
  • ❌ No bonus shares were recommended.
  • ❌ No right shares were recommended.

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is appropriate. The company’s financial performance indicates challenges in maintaining profitability and managing costs. The increased loss per share and negative earnings raise concerns about the company’s ability to generate sustainable returns. Given these factors, a conservative price target should be set, reflecting the company’s current financial difficulties.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

📉 REWM: SELL Signal (8/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Reliance Weaving Mills Limited reported its financial results for the quarter ended September 30, 2025. The company experienced a net loss of PKR 2.902 million before taxation, a significant downturn compared to the profit of PKR 39.857 million in the same period last year. Correspondingly, profit after taxation and levies decreased to PKR 44.532 million from PKR 10.627 million. Earnings per share also declined substantially from PKR 0.34 to PKR 1.45.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Net loss before taxation: PKR (2.902) million vs profit PKR 39.857 million YoY.
  • 📉 Profit after taxation and levies: Decreased to PKR 44.532 million from PKR 10.627 million YoY.
  • 📉 Earnings per share (EPS): Dropped to PKR 1.45 from PKR 0.34 YoY.
  • ⬆️ Sales – net: Marginal increase to PKR 10,735.824 million from PKR 10,722.929 million YoY.
  • Gross profit: Decreased to PKR 879.335 million from PKR 1,079.797 million YoY.
  • ⬆️ Finance Cost: Decreased to PKR (643.511) million from PKR (795.185) million YoY.
  • 💰 Cash dividend: NIL for the quarter.
  • 🚫 Bonus shares: NIL for the quarter.
  • 🚫 Right shares: NIL for the quarter.
  • 🚫 Any other entitlement/corporate action: NIL for the quarter.
  • 🚫 Any other price-sensitive information: NIL for the quarter.
  • ⬇️ Profit from operations: Decreased to PKR 640.609 million from PKR 835.042 million YoY.
  • ⬆️ Minimum and final tax levies: Increased to PKR 56.066 million from PKR (31.415) million YoY.

🎯 Investment Thesis

Based on the current financial results, a SELL recommendation is appropriate. The significant decline in profitability and EPS raises concerns about the company’s operational efficiency and future earnings potential. Price Target: PKR 25 (based on reduced earnings estimates). Time Horizon: 6-12 months. Rationale: The negative trends in profitability warrant caution, and investors should consider reducing their exposure to Reliance Weaving Mills Limited until there is evidence of a turnaround.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

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