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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.
毫無疑問,持有無利可圖的企業的股票可以賺錢。例如,雖然軟件即服務業務Salesforce.com在經常性收入增長的同時多年來一直虧損,但如果你從2005年開始持有股票,你確實會做得非常好。但殘酷的現實是,許多虧損的公司燒光了所有的現金,破產了。
所以也應該這樣華藥(上海)(HKG:2552)股東擔心其燒錢?在這份報告中,我們將考慮該公司的年度自由現金流為負,此後將其稱為“現金消耗”。我們將首先將其現金消耗與其現金儲備進行比較,以計算其現金跑道。
查看我們對華藥(上海)的最新分析
華藥(上海)有很長的現金跑道嗎?
你可以通過將公司擁有的現金數量除以它花掉這些現金的速度來計算公司的現金跑道。華藥(上海)上一次報告資產負債表是在2021年12月,當時它沒有債務和現金,價值6.75億元人民幣。重要的是,在接下來的12個月裏,它的現金消耗為3億加元。因此,從2021年12月開始,它的現金跑道大約有2.3年。但重要的是,分析師認為華藥(上海)將在此之前實現現金流盈虧平衡。如果發生這種情況,那麼它今天的現金跑道長度將成為一個沒有意義的問題。下圖顯示了其現金餘額在過去幾年中的變化情況。
聯交所:2552債轉股歷史2022年8月3日華藥(上海)的燒錢情況是如何變化的?
而華藥(上海)確實記錄了法定去年CN的收入為650萬元,沒有任何來自運營。對我們來説,這使它成為一家營收前的公司,所以我們將看看它的現金消耗軌跡,以評估它的現金消耗情況。值得注意的是,它實際上在去年增加了543%的現金消耗。鑑於支出的大幅增加,隨着現金儲備的耗盡,該公司的現金跑道將迅速收縮。然而,顯然,關鍵因素是該公司是否會在未來實現業務增長。因此,你可能想看看該公司在未來幾年的預期增長速度。
華藥(上海)能否輕鬆籌集更多現金?
考慮到其燒錢的軌跡,華藥(上海)的股東可能希望考慮一下,儘管它有堅實的現金跑道,但它籌集更多現金的難度有多大。發行新股或承擔債務是上市公司為其業務籌集更多資金的最常見方式。許多公司最終發行新股,為未來的增長提供資金。通過觀察一家公司相對於其市值的現金消耗,我們可以洞察到,如果公司需要籌集足夠的現金來支付另一年的現金消耗,股東將被稀釋多少。
華藥(上海)的市值為30億元人民幣,去年燒掉3億元人民幣,佔公司市值的10%。在這種情況下,公平地説,該公司將不會有太多困難籌集更多現金來實現增長,但股東的股份將被稀釋。
那麼,我們應該擔心華藥(上海)的燒錢嗎?
你可能已經很清楚,我們對華藥(上海)燒錢的方式比較滿意。特別是,我們認為它的現金跑道脱穎而出,證明該公司很好地控制了支出。雖然我們必須承認,它不斷增加的現金消耗有點令人擔憂,但本文提到的其他因素在涉及到現金消耗時提供了很大的安慰。看到分析師預測該公司將很快實現盈虧平衡,這顯然是非常積極的。在考慮了本文中的一系列因素後,我們對該公司的現金消耗相當放心,因為該公司似乎處於一個很好的位置,可以繼續為其增長提供資金。重要的是讓讀者認識到可能影響公司運營的風險,我們已經挑選出1華藥(上海)警示標誌投資者在投資股票時應該知道這一點。
當然了,如果你把目光投向別處,你可能會發現這是一筆很棒的投資。所以讓我們來看看這個免費感興趣的公司名單,以及這份名單中的成長股(根據分析師預測)
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
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在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
風險及免責聲明
moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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