Executive Summary
- 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.
Key Performance Indicators
Key Insights
Revenue: Not disclosed for QQ4 2024 (no quarterly revenue shown in the provided data). Gross Profit: Not disclosed. Operating Income: -16.08m CNY (YoY +50.50%); EBITDA: -11.96m CNY; Net Income: -31.06m CNY (YoY -28.??% implied by metrics; QoQ: -0.00% for both operating income and net income as per metric table).
R&D Expenses: 9.7545m CNY; General & Administrative Expenses: 6.328m CNY; Depreciation & Amortization: 4.1245m CNY.
EPS: -0.13 CNY; Weighted average shares: 243.418m.
Cash &a...
Financial Highlights
Revenue: Not disclosed for QQ4 2024 (no quarterly revenue shown in the provided data). Gross Profit: Not disclosed. Operating Income: -16.08m CNY (YoY +50.50%); EBITDA: -11.96m CNY; Net Income: -31.06m CNY (YoY -28.??% implied by metrics; QoQ: -0.00% for both operating income and net income as per metric table).
R&D Expenses: 9.7545m CNY; General & Administrative Expenses: 6.328m CNY; Depreciation & Amortization: 4.1245m CNY.
EPS: -0.13 CNY; Weighted average shares: 243.418m.
Cash & Equivalents: 202.386m CNY; Total Liabilities: 53.243m CNY; Total Equity: 660.468m CNY; Net Debt: -194.103m CNY.
Liquidity Ratios: Current 15.22x, Quick 13.81x, Cash ratio 10.30x (reflecting significant liquidity relative to near-term obligations).
Valuation/Leverage: P/BV ~0.57x; Enterprise value multiple: -15.12x (indicative of net cash status and lack of enterprise debt); Debt/Equity ~0.0125x; Equity Multiplier ~1.111x.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Operating Income |
-16.08M |
50.50% |
0.00% |
| Net Income |
-31.06M |
30.50% |
0.00% |
| EPS |
-0.13 |
28.22% |
0.00% |
Management Commentary
No earnings call transcript was provided in the data. Consequently, key management insights or quotes from an earnings call could not be synthesized. Stakeholders should rely on the disclosed quarterly metrics and the company’s public filings for management commentary.
Forward Guidance
No explicit forward guidance was disclosed for QQ1 2025 or beyond in the provided materials. Near-term catalysts likely to influence the trajectory include: (1) clinical trial milestones and safety/effectiveness data for Iberis 2nd Renal Denervation (RDN) program and Bioheart BRS platform; (2) potential regulatory interactions or approvals in China; (3) potential collaboration or licensing agreements with strategic partners (e.g., Terumo China). Assessability of achievability hinges on trial progression timelines, regulatory clearance timelines, and the speed at which collaborations translate into revenue. Investors should monitor: trial readouts, regulatory milestones, funding milestones, and any new partnerships or licensing deals.