- QQ4 2024 reflects continued operating losses driven by heavy R&D and pre-commercial activities. EBITDA declined to -11.96 million CNY and net income to -31.06 million CNY with earnings per share of -0.13. Reported operating loss of -16.08 million CNY underscores ongoing burn before any revenue normalization from pipeline milestones.
- The balance sheet remains structurally healthy with substantial liquidity and very low leverage. Cash and cash equivalents stood at 202.39 million CNY, total assets at 733.78 million CNY, and net debt at -194.10 million CNY, indicating a robust liquidity runway to advance product candidates and clinical programs.
- Management commentary (where disclosed) points to execution on R&D programs (Bioheart BRS and Iberis 2nd RDN) and potential value inflection through strategic collaborations (e.g., Terumo China). While no explicit quarterly revenue guidance is provided in the disclosed materials, the company continues to emphasize long-duration value drivers tied to pivotal trial outcomes, regulatory milestones, and potential partnerships. The stock trades with a subdued earnings base and attractive balance-sheet efficiency metrics, but remains a high-risk, development-stage name in biotechnology.