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Hua Medicine (Shanghai) (HKG:2552) Is In A Strong Position To Grow Its Business
Hua Medicine (Shanghai) (HKG:2552) Is In A Strong Position To Grow Its Business
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.
So should Hua Medicine (Shanghai) (HKG:2552) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.
See our latest analysis for Hua Medicine (Shanghai)
Does Hua Medicine (Shanghai) Have A Long Cash Runway?
You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. When Hua Medicine (Shanghai) last reported its balance sheet in December 2021, it had zero debt and cash worth CN¥675m. Importantly, its cash burn was CN¥300m over the trailing twelve months. So it had a cash runway of about 2.3 years from December 2021. Importantly, though, analysts think that Hua Medicine (Shanghai) will reach cashflow breakeven before then. If that happens, then the length of its cash runway, today, would become a moot point. The image below shows how its cash balance has been changing over the last few years.
SEHK:2552 Debt to Equity History August 3rd 2022How Is Hua Medicine (Shanghai)'s Cash Burn Changing Over Time?
While Hua Medicine (Shanghai) did record statutory revenue of CN¥6.5m over the last year, it didn't have any revenue from operations. To us, that makes it a pre-revenue company, so we'll look to its cash burn trajectory as an assessment of its cash burn situation. Remarkably, it actually increased its cash burn by 543% in the last year. Given that sharp increase in spending, the company's cash runway will shrink rapidly as it depletes its cash reserves. Clearly, however, the crucial factor is whether the company will grow its business going forward. So you might want to take a peek at how much the company is expected to grow in the next few years.
Can Hua Medicine (Shanghai) Raise More Cash Easily?
Given its cash burn trajectory, Hua Medicine (Shanghai) shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.
Hua Medicine (Shanghai) has a market capitalisation of CN¥3.0b and burnt through CN¥300m last year, which is 10% of the company's market value. Given that situation, it's fair to say the company wouldn't have much trouble raising more cash for growth, but shareholders would be somewhat diluted.
So, Should We Worry About Hua Medicine (Shanghai)'s Cash Burn?
It may already be apparent to you that we're relatively comfortable with the way Hua Medicine (Shanghai) is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. While we must concede that its increasing cash burn is a bit worrying, the other factors mentioned in this article provide great comfort when it comes to the cash burn. It's clearly very positive to see that analysts are forecasting the company will break even fairly soon. After considering a range of factors in this article, we're pretty relaxed about its cash burn, since the company seems to be in a good position to continue to fund its growth. Its important for readers to be cognizant of the risks that can affect the company's operations, and we've picked out 1 warning sign for Hua Medicine (Shanghai) that investors should know when investing in the stock.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, and this list of stocks growth stocks (according to analyst forecasts)
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
毫无疑问,持有无利可图的企业的股票可以赚钱。例如,虽然软件即服务业务Salesforce.com在经常性收入增长的同时多年来一直亏损,但如果你从2005年开始持有股票,你确实会做得非常好。但残酷的现实是,许多亏损的公司烧光了所有的现金,破产了。
所以也应该这样华药(上海)(HKG:2552)股东担心其烧钱?在这份报告中,我们将考虑该公司的年度自由现金流为负,此后将其称为“现金消耗”。我们将首先将其现金消耗与其现金储备进行比较,以计算其现金跑道。
查看我们对华药(上海)的最新分析
华药(上海)有很长的现金跑道吗?
你可以通过将公司拥有的现金数量除以它花掉这些现金的速度来计算公司的现金跑道。华药(上海)上一次报告资产负债表是在2021年12月,当时它没有债务和现金,价值6.75亿元人民币。重要的是,在接下来的12个月里,它的现金消耗为3亿加元。因此,从2021年12月开始,它的现金跑道大约有2.3年。但重要的是,分析师认为华药(上海)将在此之前实现现金流盈亏平衡。如果发生这种情况,那么它今天的现金跑道长度将成为一个没有意义的问题。下图显示了其现金余额在过去几年中的变化情况。
联交所:2552债转股历史2022年8月3日华药(上海)的烧钱情况是如何变化的?
而华药(上海)确实记录了法定去年CN的收入为650万元,没有任何来自运营。对我们来说,这使它成为一家营收前的公司,所以我们将看看它的现金消耗轨迹,以评估它的现金消耗情况。值得注意的是,它实际上在去年增加了543%的现金消耗。鉴于支出的大幅增加,随着现金储备的耗尽,该公司的现金跑道将迅速收缩。然而,显然,关键因素是该公司是否会在未来实现业务增长。因此,你可能想看看该公司在未来几年的预期增长速度。
华药(上海)能否轻松筹集更多现金?
考虑到其烧钱的轨迹,华药(上海)的股东可能希望考虑一下,尽管它有坚实的现金跑道,但它筹集更多现金的难度有多大。发行新股或承担债务是上市公司为其业务筹集更多资金的最常见方式。许多公司最终发行新股,为未来的增长提供资金。通过观察一家公司相对于其市值的现金消耗,我们可以洞察到,如果公司需要筹集足够的现金来支付另一年的现金消耗,股东将被稀释多少。
华药(上海)的市值为30亿元人民币,去年烧掉3亿元人民币,占公司市值的10%。在这种情况下,公平地说,该公司将不会有太多困难筹集更多现金来实现增长,但股东的股份将被稀释。
那么,我们应该担心华药(上海)的烧钱吗?
你可能已经很清楚,我们对华药(上海)烧钱的方式比较满意。特别是,我们认为它的现金跑道脱颖而出,证明该公司很好地控制了支出。虽然我们必须承认,它不断增加的现金消耗有点令人担忧,但本文提到的其他因素在涉及到现金消耗时提供了很大的安慰。看到分析师预测该公司将很快实现盈亏平衡,这显然是非常积极的。在考虑了本文中的一系列因素后,我们对该公司的现金消耗相当放心,因为该公司似乎处于一个很好的位置,可以继续为其增长提供资金。重要的是让读者认识到可能影响公司运营的风险,我们已经挑选出1华药(上海)警示标志投资者在投资股票时应该知道这一点。
当然了,如果你把目光投向别处,你可能会发现这是一笔很棒的投资。所以让我们来看看这个免费感兴趣的公司名单,以及这份名单中的成长股(根据分析师预测)
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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