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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.
毫無疑問,持有無利可圖的企業的股票可以賺錢。例如,生物技術和採礦勘探公司經常虧損多年,然後才在新的治療方法或礦物發現方面取得成功。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。
考慮到這種風險,我們認為我們應該看看百心安-B技術(HKG:2185)股東應該擔心它的現金消耗。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。
查看我們對百心安-B技術的最新分析
百心安-B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。百心安-B科技上一次報告資產負債表是在2022年6月,當時該公司沒有債務和現金,價值6.53億元人民幣。回顧去年,該公司燒掉了1.23億元人民幣。因此,從2022年6月開始,它有了5.3年的現金跑道。雖然這只是其燒錢情況的一個衡量標準,但它肯定給我們的印象是,持有者沒有什麼可擔心的。下圖顯示了其現金餘額在過去幾年中的變化情況。
聯交所:2185債轉股歷史2022年9月19日隨着時間的推移,百心安-B的燒錢情況是如何變化的?
由於百心安-B目前還沒有產生收入,我們認為它還處於早期階段。因此,雖然我們不能通過銷售來理解增長,但我們可以看看現金消耗是如何變化的,以瞭解支出隨着時間的推移是如何趨勢的。隨着去年現金消耗率上升32%,該公司似乎正在隨着時間的推移逐步增加對這項業務的投資。這並不一定是一件壞事,但投資者應該注意這樣一個事實,那將縮短現金跑道。誠然,我們對百心安-B有點謹慎,因為它缺乏可觀的運營收入。因此,我們通常更喜歡這份名單中分析師預測增長的股票。
百心安-B籌集現金的難度有多大?
雖然百心安-B確實有一條堅實的現金跑道,但其燒錢軌跡可能會讓一些股東提前考慮該公司何時可能需要籌集更多現金。公司可以通過債務或股權籌集資金。許多公司最終發行新股,為未來的增長提供資金。通過將一家公司的年度現金消耗與其總市值進行比較,我們可以粗略地估計出它需要發行多少股票才能維持公司下一年的運營(以相同的消耗速度)。
百心安-B的市值為120億元人民幣,去年燒掉了1.23億元人民幣,佔該公司市值的1.0%。這意味着它可以很容易地發行一些股票,為更多的增長提供資金,而且很可能處於低息借貸的地位。
百心安-B的燒錢令人擔憂嗎?
你可能已經很明顯了,我們對百心安-B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。儘管它不斷增加的現金消耗確實給了我們暫停的理由,但我們在本文中討論的其他指標總體上形成了一幅積極的圖景。看看本文中的所有衡量標準,我們並不擔心它的現金消耗率;該公司似乎很好地滿足了中期支出需求。對暴露出的風險進行深入檢查百心安-B科技的1個警告標誌讀者在向這隻股票注資之前應該考慮一下。
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內部人士正在買入的公司名單,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。
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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., 是關聯公司。
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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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