EPS of $-0.09 increased by 59.6% from previous year
Net income of -37.62K
"N/A" - N/A
Jenscare Scientific Co Ltd (9877.HK) QQ4 2024 Results – R&D-Driven Pre-Revenue Phase with Strong Balance Sheet and Pipeline upside
Executive Summary
Summary of QQ4 2024 results and strategic context for Jenscare Scientific. The quarter shows a continuation of losses reflecting the company’s pre-commercial, R&D-intensive phase, with no disclosed revenue in the reported period. Despite the negative earnings, Jenscare carries a strong liquidity position and a substantial net cash footprint, providing ample runway to advance its lead product candidates, LuXValve (TTVR) and KenValve (TAVR), toward regulatory milestones and potential partnerships. The market backdrop for transcatheter valve therapies remains favorable, especially as China expands access to structural heart interventions, but execution risk remains high given clinical validation requirements and competitive dynamics.
Key Performance Indicators
Operating Income
-46.65K
QoQ: 0.00% | YoY:57.34%
Net Income
-37.62K
QoQ: 0.00% | YoY:99.96%
EPS
-0.09
QoQ: 0.00% | YoY:59.61%
Revenue Trend
Margin Analysis
Key Insights
Revenue: Not disclosed in the QQ4 2024 filing.
EBITDA: -44,452,250.00
Operating income: -46,648,000.00; QoQ: 0.00%; YoY: +57.34% (the magnitude of loss narrowed versus prior-year quarter).
Net income: -37,624,500.00; QoQ: 0.00%; YoY: +99.96% (loss narrowed materially vs. prior-year quarter).
Earnings per share (diluted): -0.0929 CNY; QoQ: 0.00%; YoY: +59.61%
Financial Highlights
Financial momentum and liquidity highlights (Q4 2024, CNY, year/quarter comparisons where available):
- Revenue: Not disclosed in the QQ4 2024 filing.
- EBITDA: -44,452,250.00
- Operating income: -46,648,000.00; QoQ: 0.00%; YoY: +57.34% (the magnitude of loss narrowed versus prior-year quarter).
- Net income: -37,624,500.00; QoQ: 0.00%; YoY: +99.96% (loss narrowed materially vs. prior-year quarter).
- Earnings per share (diluted): -0.0929 CNY; QoQ: 0.00%; YoY: +59.61%
- R&D expenses: 30,202,000.00
- General and administrative expenses: 16,446,000.00
- Depreciation & amortization: 2,195.75
- Cash and cash equivalents: 605,991,000.00
- Total assets: 1,027,565,000.00
- Total liabilities: 110,612,000.00
- Total stockholders’ equity: 931,762,000.00
- Net debt: -541,572,000.00 (net cash position)
- Current ratio: 10.68; Quick ratio: 10.13; Cash ratio: 9.44
- Weight avg shares out: 404,882,000; Weighted avg diluted: 404,879,000
- Price-to-book: 1.322; Price-to-earnings: negative (by reporting period)
- Return on assets (ROA): -0.0000366; Return on equity (ROE): -0.0000404
Income Statement
Metric
Value
YoY Change
QoQ Change
Operating Income
-46.65K
57.34%
0.00%
Net Income
-37.62K
99.96%
0.00%
EPS
-0.09
59.61%
0.00%
Key Financial Ratios
currentRatio
10.68
returnOnAssets
-0%
returnOnEquity
-0%
debtEquityRatio
0.07
priceToBookRatio
1.32
priceEarningsRatio
-8186.55
Net Income vs. Revenue
Expense Breakdown
Management Commentary
Transcript highlights unavailable. The provided materials contain an earnings transcript field that is empty, so management commentary and quotes from the QQ4 2024 call are not included here. When available, include management themes on strategy, pipeline progress, and market conditions with contextual notes on implications for investors.
N/A
— N/A
N/A
— N/A
Forward Guidance
Forecasting official guidance for Jenscare Science is not included in the QQ4 2024 materials. Given the company’s pre-revenue status and reliance on pipeline milestones, near-term visibility hinges on successful regulatory progression and potential partnerships/licensing arrangements for LuXValve and KenValve. Our qualitative assessment:
- Likely milestones to watch: regulatory submissions/approvals in China, clinical trial outcomes, and potential partnership deals to monetize the LuXValve/TTVR and KenValve/TAVR platforms.
- Potential revenue inflection could occur upon regulatory clearance, clinical validation, or licensing/licensing-out agreements that convert pipeline value into realized revenue.
- Key risks: clinical/regulatory failure, delayed trials, adverse outcomes, and competition from established global players. Monitoring milestones such as trial progress, manufacturing scale-up capabilities, and any signed licensing deals will be crucial to gauge the path to monetization.
Competitive Position
Company
Gross Margin
Operating Margin
Return on Equity
P/E Ratio
9877.HK Focus
0.00%
0.00%
0.00%
-8,186.55%
Gross Profit Margin
Operating Profit Margin
Return on Equity
P/E Ratio Comparison
Investment Outlook
Given Jenscare’s robust liquidity and a clear pipeline strategy, the company offers a compelling long-duration optionality on regulatory milestones and licensing deals for LuXValve and KenValve. The absence of current revenue makes the stock highly sensitive to trial outcomes and partnership news. Investors should weigh the potential for significant upside upon monetization against the substantial execution risk inherent in a pre-revenue medtech developer. Key catalysts include regulatory milestones, positive clinical data from pipeline programs, and signed licensing or collaboration agreements that translating pre-commercial assets into revenue streams.
Key Investment Factors
Growth Potential
High potential from LuXValve (TTVR) and KenValve (TAVR) given the accelerating adoption of transcatheter valve therapies in China and expanding indications. The pipeline targets structural heart diseases beyond aortic disease, which could broaden the TAM once validated and commercially scalable. However, there is currently no disclosed revenue stream, making the growth trajectory contingent on regulatory milestones, trial results, and partner/licensing arrangements.
Profitability Risk
Primary risks include clinical and regulatory outcomes for lead products, dependence on successful commercialization of pre-revenue assets, and competition from established transcatheter heart valve players. Execution risk remains high given the long lead times typical for Chinese regulatory approvals and the need for manufacturing partnerships. The lack of disclosed revenue adds execution uncertainty for near-term upside.
Financial Position
Strong balance sheet with a substantial net cash position (-541.6m net debt), low liabilities (110.6m), and sizable stockholders’ equity (931.8m). This liquidity provides ample runway to fund R&D and clinical development without pressuring near-term cash flow. The company exhibits very high liquidity ratios (current 10.68x, quick 10.13x, cash 9.44x), indicating financial resilience but also implying limited near-term efficiency in deploying capital given pre-revenue status.
SWOT Analysis
Strengths
Strong liquidity with substantial cash and a net cash position (net debt = -541.6m) providing runway for pipeline development.
Healthy balance sheet: total assets = 1,027.6m; stockholders’ equity = 931.8m; modest total liabilities (110.6m).
High liquidity ratios: current 10.68x, quick 10.13x, cash 9.44x, signaling resilience to fund ongoing R&D and regulatory activities.
Diversified R&D focused portfolio with LuXValve and KenValve as near-term strategic assets.
Weaknesses
No disclosed revenue for QQ4 2024, indicating a pre-commercial stage and a reliance on pipeline milestones.
Persistent quarterly losses (EBITDA and net income negative) with limited visibility on near-term revenue generation.
Heavy R&D and G&A spend without a clear path to profitability in the near term.
Opportunities
China’s expanding adoption of structural heart interventions creates a sizeable TAM once products reach commercialization.
Potential partnerships/licensing deals could monetize the LuXValve and KenValve platforms and accelerate revenue generation.
Regulatory approvals or favorable trial outcomes could unlock downstream manufacturing and scaling advantages.
Threats
Regulatory delays or setbacks in China or international markets.
Clinical/trial risks and potential for adverse outcomes impacting timeliness of market entry.
Competition from established global players in transcatheter valve therapies.
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