Overview of financial health and operating dynamics (CNY, unless stated otherwise):
- Revenue: Not disclosed for QQ4 2024; no reported quarterly revenue data available in the four-quarter snapshot. This is typical for an early-stage Biotech with a pipeline-focused profile and no commercialized products yet.
- Net income (full-year 2024): Not explicitly disclosed in the quarterly balance sheet data; cash flow table shows net income of -223,287,000 CNY for the period, indicating meaningful annual losses driven by R&D and SG&A investments.
- Operating cash flow: -76,871,500 CNY for the year, signaling ongoing cash burn largely attributable to R&D spend and general and administrative costs associated with clinical development and platform expansion.
- Free cash flow: -74,565,500 CNY, reflecting sustained investment in the pipeline with limited near-term cash inflows.
- Depreciation and amortization: 18,931,500 CNY (non-cash charge), contributing to non-cash adjustments in cash flow.
- Other non-cash items: 127,534,500 CNY, highlighting significant non-cash working capital and non-cash expenses contributing to the cash burn profile.
- Net cash provided by operating activities: -76,871,500 CNY, indicating cash used in core operations despite a substantial cash balance on hand.
- Capex (investments in property, plant and equipment): 2,306,000 CNY, modest capital outlay commensurate with a pipeline-focused biotech.
- Cash balance and liquidity: Cash and cash equivalents stood at 1,479,058,000 CNY. The company reports total assets of 1,673,034,000 CNY and total liabilities of 616,327,000 CNY, yielding substantial net equity headroom.
- Debt and leverage: Total debt 166,422,000 CNY; long-term debt 132,694,000 CNY; short-term debt 33,728,000 CNY. Net debt is reported as negative 1,312,636,000 CNY, indicating a cash-rich balance sheet with a strong liquidity cushion.
- Liquidity ratios: Current ratio 6.02, quick ratio 6.00, and cash ratio 5.82, underscoring robust short-term liquidity given limited near-term liability pressures.
- Capital structure metrics: Debt to assets 9.95%, debt to equity 15.7%, long-term debt to capitalization 6.12%, total debt to capitalization 13.6% (per ratiosInfo). These metrics reflect a conservative leverage profile for a clinical-stage biotech.
- Equity and earnings metrics: Weighted average shares outstanding approximately 553.9–556.8 million across reported periods. Price-to-book ratio around 4.53, with price-to-sales and earnings-related metrics not meaningful given lack of revenue/GAAP earnings in the period.
- Observations on YoY/QoQ: The QQ4 2024 data set provides limited revenue visibility and shows continued losses. The 2023 year-ends show negative net income, aligning with a company in substantial R&D outlay mode rather than revenue generation. Given the lack of disclosed quarterly revenue figures, YoY revenue growth cannot be established from the provided data.