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We Think Shanghai Bio-heart Biological Technology (HKG:2185) Can Easily Afford To Drive Business Growth
We Think Shanghai Bio-heart Biological Technology (HKG:2185) Can Easily Afford To Drive Business Growth
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.
Given this risk, we thought we'd take a look at whether Shanghai Bio-heart Biological Technology (HKG:2185) shareholders should 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.
Check out our latest analysis for Shanghai Bio-heart Biological Technology
Does Shanghai Bio-heart Biological Technology 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 Shanghai Bio-heart Biological Technology last reported its balance sheet in June 2022, it had zero debt and cash worth CN¥653m. Looking at the last year, the company burnt through CN¥123m. Therefore, from June 2022 it had 5.3 years of cash runway. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. The image below shows how its cash balance has been changing over the last few years.
SEHK:2185 Debt to Equity History September 19th 2022How Is Shanghai Bio-heart Biological Technology's Cash Burn Changing Over Time?
Because Shanghai Bio-heart Biological Technology isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. With the cash burn rate up 32% in the last year, it seems that the company is ratcheting up investment in the business over time. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Admittedly, we're a bit cautious of Shanghai Bio-heart Biological Technology due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.
How Easily Can Shanghai Bio-heart Biological Technology Raise Cash?
While Shanghai Bio-heart Biological Technology does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).
Shanghai Bio-heart Biological Technology has a market capitalisation of CN¥12b and burnt through CN¥123m last year, which is 1.0% of the company's market value. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.
Is Shanghai Bio-heart Biological Technology's Cash Burn A Worry?
It may already be apparent to you that we're relatively comfortable with the way Shanghai Bio-heart Biological Technology 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. Although its increasing cash burn does give us reason for pause, the other metrics we discussed in this article form a positive picture overall. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. An in-depth examination of risks revealed 1 warning sign for Shanghai Bio-heart Biological Technology that readers should think about before committing capital to this stock.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, 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,生物技术和采矿勘探公司经常亏损多年,然后才在新的治疗方法或矿物发现方面取得成功。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。
考虑到这种风险,我们认为我们应该看看百心安-B技术(HKG:2185)股东应该担心它的现金消耗。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。
查看我们对百心安-B技术的最新分析
百心安-B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。百心安-B科技上一次报告资产负债表是在2022年6月,当时该公司没有债务和现金,价值6.53亿元人民币。回顾去年,该公司烧掉了1.23亿元人民币。因此,从2022年6月开始,它有了5.3年的现金跑道。虽然这只是其烧钱情况的一个衡量标准,但它肯定给我们的印象是,持有者没有什么可担心的。下图显示了其现金余额在过去几年中的变化情况。
联交所:2185债转股历史2022年9月19日随着时间的推移,百心安-B的烧钱情况是如何变化的?
由于百心安-B目前还没有产生收入,我们认为它还处于早期阶段。因此,虽然我们不能通过销售来理解增长,但我们可以看看现金消耗是如何变化的,以了解支出随着时间的推移是如何趋势的。随着去年现金消耗率上升32%,该公司似乎正在随着时间的推移逐步增加对这项业务的投资。这并不一定是一件坏事,但投资者应该注意这样一个事实,那将缩短现金跑道。诚然,我们对百心安-B有点谨慎,因为它缺乏可观的运营收入。因此,我们通常更喜欢这份名单中分析师预测增长的股票。
百心安-B筹集现金的难度有多大?
虽然百心安-B确实有一条坚实的现金跑道,但其烧钱轨迹可能会让一些股东提前考虑该公司何时可能需要筹集更多现金。公司可以通过债务或股权筹集资金。许多公司最终发行新股,为未来的增长提供资金。通过将一家公司的年度现金消耗与其总市值进行比较,我们可以粗略地估计出它需要发行多少股票才能维持公司下一年的运营(以相同的消耗速度)。
百心安-B的市值为120亿元人民币,去年烧掉了1.23亿元人民币,占该公司市值的1.0%。这意味着它可以很容易地发行一些股票,为更多的增长提供资金,而且很可能处于低息借贷的地位。
百心安-B的烧钱令人担忧吗?
你可能已经很明显了,我们对百心安-B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。尽管它不断增加的现金消耗确实给了我们暂停的理由,但我们在本文中讨论的其他指标总体上形成了一幅积极的图景。看看本文中的所有衡量标准,我们并不担心它的现金消耗率;该公司似乎很好地满足了中期支出需求。对暴露出的风险进行深入检查百心安-B科技的1个警告标志读者在向这只股票注资之前应该考虑一下。
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内部人士正在买入的公司名单,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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