Harbin Medisan Pharmaceutical Co Ltd

Harbin Medisan's capital structure is characterized by a debt-to-equity ratio of 0.43, indicating a relatively conservative leverage position compared to the industry median. The company's liquidity is assessed as medium, with a current ratio of 1.26, suggesting it has sufficient short-term assets to cover its short-term liabilities, but with limited buffer. The company reported negative operating cash flow of -62.8 million CNY and capital expenditures of -182.95 million CNY, indicating significant investment in long-term assets.

Profitability metrics show a return on equity (ROE) of 0.35% and a return on assets (ROA) of 0.21%, both of which are below the industry median for pharmaceutical companies. The company's net income of 7.48 million CNY is modest relative to its total assets of 3.52 billion CNY, suggesting limited efficiency in converting assets into profit.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases exposure to regional economic and regulatory risks. The company's total revenue of 276.62 million CNY is below the industry median, and there is no indication of significant international operations.

Growth trajectory is constrained by the company's negative operating cash flow and high capital expenditures. The company's revenue of 276.62 million CNY is below the analyst estimate of 2.17 billion CNY, indicating a potential underperformance relative to expectations. Historical revenue data does not show a consistent growth pattern, and there is no indication of a clear upward trend.

Risk factors include medium liquidity risk due to the company's negative net cash position after subtracting total debt. The company's dilution risk is assessed as low, with no significant dilution potential in the near term. However, the company's high capital expenditures and negative operating cash flow may necessitate future financing, which could lead to dilution.

Recent events include the company's latest financial filing, which shows a significant gap between actual revenue and analyst estimates. The company has not disclosed any recent strategic initiatives or product launches that could drive future growth. There are no recent earnings call transcripts or press releases indicating major changes in business strategy or operations.

Harbin Medisan Pharmaceutical Co Ltd (002900.SZ) has undergone a significant update to its risk and classification profile, with the most material changes being the formal assignment of its economic sector to Healthcare and its primary activity to Pharmaceuticals. These taxonomy classifications, previously unrecorded, are now established as medium-severity updates, providing a clearer structural definition of the company’s operational focus within the broader market. Alongside these sectoral definitions, the company’s risk assessment framework has been populated with specific metrics. The dilution risk is now classified as low, indicating a stable capital structure with minimal threat of share value erosion from new issuances. This assessment is derived from internal specifications and represents a new field entry where no prior value existed. Conversely, the liquidity risk has been assessed as medium, highlighting a moderate level of concern regarding the ease of trading the company’s shares or converting assets to cash. This new field entry, also classified with low severity in terms of immediate impact, suggests that while liquidity is not critical, it remains a factor for investors to monitor. The significance of these changes lies in the establishment of a baseline for future analysis. With the company now clearly categorized within the Healthcare sector and its key risks—low dilution and medium liquidity—quantified, stakeholders have a more defined framework for evaluating Harbin Medisan’s financial health and operational context. No analyst coverage, index memberships, or top holder data are currently available to further contextualize these findings.

Net income surged 143.8% year-over-year, demonstrating significant profitability recovery compared to the prior period.

Operating income increased by 109.5% year-over-year, indicating strong improvement in core operational efficiency.

The company maintains a low dilution risk level, protecting existing shareholders from equity value erosion.

Revenue grew 15.4% year-over-year, showing continued top-line expansion despite broader market challenges.

Gross profit remained substantial at 711 million CNY, providing a buffer for operating cost management.

The company faces high credit risk, signaling potential difficulties in meeting debt obligations or securing financing.

Operating margin of 1.35% trails the industry median of 5.45%, reflecting weaker pricing power or cost control.

Long-term debt increased to 1.13 billion CNY, exacerbating financial leverage and interest burden risks.

Revenue ¥228.8M, +11,6% YoY; Operating income +80,2% YoY.

• ▍Revenue ¥228.8M, +11,6% YoY
• ▍Operating income +80,2% YoY
• ▍Net income +75,5% YoY
• ▍Net margin -3.1%

Revenue ¥208.8M, −29,0% YoY; Operating income −658,1% YoY.

• ▍Revenue ¥208.8M, −29,0% YoY
• ▍Operating income −658,1% YoY
• ▍Net income −822,9% YoY
• ▍Net margin -62.6%

Revenue ¥167.5M, −46,8% YoY; Operating income −773,4% YoY.

• ▍Revenue ¥167.5M, −46,8% YoY
• ▍Operating income −773,4% YoY
• ▍Net income −913,7% YoY
• ▍Net margin -69.5%

Revenue ¥208.1M, −24,8% YoY; Operating income −1 964,3% YoY.

• ▍Revenue ¥208.1M, −24,8% YoY
• ▍Operating income −1 964,3% YoY
• ▍Net income −949,3% YoY
• ▍Net margin -30.5%

Revenue ¥205.0M; Operating income -¥35.2M.

• ▍Revenue ¥205.0M
• ▍Operating income -¥35.2M
• ▍Net margin -14.1%

Revenue ¥789.4M, −30,3% YoY; Operating income −666,8% YoY.

• ▍Revenue ¥789.4M, −30,3% YoY
• ▍Operating income −666,8% YoY
• ▍Net income −678,8% YoY
• ▍Free cash flow −95,2% YoY
• ▍Net margin -43.0%

Revenue ¥1.13B, −4,6% YoY; Operating income −21,5% YoY.

• ▍Revenue ¥1.13B, −4,6% YoY
• ▍Operating income −21,5% YoY
• ▍Net income −20,4% YoY
• ▍Free cash flow −76,2% YoY
• ▍Net margin 5.2%