Shenzhen YHLO Biotech Co., Ltd. (688575.SS) Bundle
Peel back the numbers on Shenzhen YHLO Biotech Co., Ltd. (688575.SS) and you'll find a mixed but compelling financial picture: Q3 2025 revenue climbed to CNY 478.27 million (+10.25% YoY) with TTM sales at CNY 1.90 billion, while 2024 annual revenue was CNY 2.01 billion (‑2.02% vs. 2023); market sentiment values the company at a market cap of CNY 8.24 billion with a share price of CNY 14.08 (Dec 15, 2025). Profitability shows strain-Q3 net profit attributable to shareholders fell to CNY 34.15 million (‑25.12% YoY) and EPS slid to CNY 0.06 (‑25%)-even as gross margin remains robust at 62.55% and operating margin at 12.96%; balance-sheet metrics reveal a conservative debt-to-equity ratio of 0.37 with CNY 633.63 million in cash against CNY 983.89 million total debt, a current ratio of 2.07, Altman Z‑Score of 4.93 and free cash flow of CNY 75.54 million. Valuation multiples include a trailing P/E of 54.53 and forward P/E of 22.78, P/S of 4.33 and P/B of 3.07, while growth engines abroad show promise-operations cover 120 countries, overseas main business revenue reached CNY 208 million (+39.39% YoY) with chemiluminescence sales up ~42% and reagent revenue up ~51%-read on to unpack the implications for investors, risk exposures and where value may lie.
Shenzhen YHLO Biotech Co., Ltd. (688575.SS) - Revenue Analysis
Shenzhen YHLO Biotech reported revenue of CNY 478.27 million in Q3 2025, a 10.25% year-over-year increase. On a trailing twelve months (TTM) basis revenue is CNY 1.90 billion, up 0.13% versus the prior twelve months. The company's full-year 2024 revenue was CNY 2.01 billion, down 2.02% from 2023. Revenue per employee is approximately CNY 1.13 million based on a workforce of 1,759.- Q3 2025 revenue: CNY 478.27 million (+10.25% YoY)
- TTM revenue: CNY 1.90 billion (+0.13% YoY)
- 2024 annual revenue: CNY 2.01 billion (-2.02% vs. 2023)
- Revenue per employee: ~CNY 1.13 million (1,759 employees)
- Price-to-Sales (P/S): 4.33
- Market capitalization: CNY 8.24 billion
- Share price (as of 15 Dec 2025): CNY 14.08
| Metric | Amount | Change | Notes |
|---|---|---|---|
| Q3 2025 Revenue | CNY 478.27 million | +10.25% YoY | Quarter performance driven by product mix and demand recovery |
| TTM Revenue | CNY 1.90 billion | +0.13% YoY | Stabilized after slight annual decline |
| FY 2024 Revenue | CNY 2.01 billion | -2.02% vs. 2023 | Annual pullback reflecting transitional period |
| Employees | 1,759 | N/A | Revenue per employee ≈ CNY 1.13 million |
| Price-to-Sales (P/S) | 4.33 | N/A | Market valuation relative to sales |
| Market Capitalization | CNY 8.24 billion | N/A | Market value at CNY 14.08/share (15 Dec 2025) |
- Revenue trajectory: modest TTM growth contrasts with a slight annual decline in 2024, while Q3 2025 shows renewed quarterly momentum.
- Valuation context: P/S of 4.33 implies the market prices Shenzhen YHLO Biotech at a premium to sales - assess against peers in diagnostics/biotech.
- Operational leverage: revenue per employee (~CNY 1.13M) helps gauge productivity and scalability of sales versus workforce size.
Shenzhen YHLO Biotech Co., Ltd. (688575.SS) - Profitability Metrics
Shenzhen YHLO Biotech Co., Ltd. reported net profit attributable to shareholders of CNY 34.15 million for Q3 2025, a year-over-year decline of 25.12%. Earnings per share (EPS) for the quarter were CNY 0.06, down 25% from the same period last year. These headline figures sit alongside durable margin metrics and a modest return on equity that together outline the company's current profitability profile.| Metric | Q3 2025 | Year-over-Year Change | Commentary |
|---|---|---|---|
| Net profit attributable to shareholders | CNY 34.15 million | -25.12% | Significant YoY decline in bottom-line profit |
| Earnings per share (EPS) | CNY 0.06 | -25.00% | Proportional decline aligned with net profit |
| Gross profit margin | 62.55% | - | Strong margin on core products |
| Operating margin | 12.96% | - | Operating efficiency under pressure relative to peers |
| Profit margin | 7.53% | - | Portion of revenue translating to net income |
| Return on equity (ROE) | 5.12% | - | Moderate shareholder returns |
- High gross margin (62.55%) indicates strong product-level profitability and pricing power relative to COGS.
- Operating margin of 12.96% shows meaningful operating costs that consume a sizeable share of gross profit.
- Profit margin at 7.53% and ROE of 5.12% suggest limited conversion of revenue into equity returns this quarter.
Shenzhen YHLO Biotech Co., Ltd. (688575.SS) Debt vs. Equity Structure
Shenzhen YHLO Biotech maintains a conservative leverage profile with substantial liquidity and strong earnings coverage for interest payments. Key balance-sheet metrics show a capital structure oriented toward equity, while modest use of debt supports operations and growth investments.- Debt-to-equity ratio: 0.37 - indicates conservative leveraging versus equity base.
- Cash and cash equivalents: CNY 633.63 million - provides operational liquidity and short-term flexibility.
- Total debt: CNY 983.89 million - comprises interest-bearing liabilities.
- Net cash (net debt): CNY -350.27 million - company is net debt by this amount (total debt minus cash).
- Equity (book value): CNY 2.64 billion; book value per share: CNY 4.74.
- Interest coverage ratio: 13.40 - ample ability to service interest from operating earnings.
- Debt-to-EBITDA: 1.86 - moderate leverage relative to operating cash flow generation.
| Metric | Amount (CNY) | Ratio / Per-Share |
|---|---|---|
| Cash & Cash Equivalents | 633,630,000 | - |
| Total Debt | 983,890,000 | - |
| Net Cash (Net Debt) | -350,260,000 | - |
| Equity (Book Value) | 2,640,000,000 | Book value/share: 4.74 CNY |
| Debt-to-Equity | - | 0.37 |
| Interest Coverage Ratio | - | 13.40 |
| Debt-to-EBITDA | - | 1.86 |
Shenzhen YHLO Biotech Co., Ltd. (688575.SS) Liquidity and Solvency
Shenzhen YHLO Biotech's short-term liquidity and longer-term solvency metrics indicate a comfortable cushion against immediate obligations and a low probability of financial distress based on standard scoring models. Key headline figures below quantify the company's capacity to meet liabilities, generate operational cash, and sustain investment needs.- Current ratio: 2.07 - current assets are roughly double current liabilities, signaling healthy short-term coverage.
- Quick ratio: 1.30 - excluding inventory, liquid assets still exceed current liabilities by 30%.
- Working capital: CNY 1.00 billion - positive working capital provides operational flexibility.
- Operating cash flow: CNY 276.97 million - cash generated from core operations supports day-to-day needs.
- Free cash flow: CNY 75.54 million - available after capital expenditures for discretionary uses or debt repayment.
- Altman Z-Score: 4.93 - well above distress thresholds, indicating low default risk.
| Metric | Value | Implication |
|---|---|---|
| Current Ratio | 2.07 | Strong short-term liquidity |
| Quick Ratio | 1.30 | Healthy immediate liquidity excluding inventory |
| Working Capital | CNY 1.00 billion | Positive buffer for operations |
| Operating Cash Flow | CNY 276.97 million | Cash generated from operations |
| Free Cash Flow | CNY 75.54 million | Cash after capex for debt/service or reinvestment |
| Altman Z-Score | 4.93 | Low probability of financial distress |
Shenzhen YHLO Biotech Co., Ltd. (688575.SS) - Valuation Analysis
Shenzhen YHLO Biotech's current market multiples reflect a premium growth valuation, with the market pricing in elevated near-term improvement in profitability relative to book and sales.- Trailing P/E: 54.53 - market pays 54.53 times the last 12 months' earnings.
- Forward P/E: 22.78 - investors expect materially higher earnings over the next 12 months.
- Price-to-Book (P/B): 3.07 - market value is just over three times reported equity book value.
- EV/EBITDA: 15.87 - enterprise-level valuation implies a mid- to high-teens multiple on operating cash earnings.
- EV/Sales: 4.41 - enterprise value equals ~4.4x annual revenue.
- PEG ratio: not available - consensus earnings growth projections are not provided.
| Metric | Value | Interpretation |
|---|---|---|
| Trailing P/E | 54.53 | High multiple vs. historical market average; implies premium for growth or low current earnings base |
| Forward P/E | 22.78 | Market expects earnings to roughly double vs. trailing period |
| P/B | 3.07 | Shares trade at a meaningful premium to book equity |
| EV/EBITDA | 15.87 | Valuation consistent with growth-oriented healthcare/biotech peers |
| EV/Sales | 4.41 | Indicates substantial revenue multiple - reflects differentiated products and margin potential |
| PEG | N/A | Insufficient projected earnings growth data for reliable PEG calculation |
- Relative positioning: Compared with large-cap healthcare peers, a trailing P/E >50 and EV/EBITDA ~16 suggest investors expect faster margin expansion or above-market revenue growth.
- Risk/return considerations: The decline from trailing to forward P/E (54.53 → 22.78) signals expected near-term earnings acceleration; missing PEG requires investors to verify growth assumptions in guidance and analyst models.
- Practical next steps for valuation-sensitive investors:
- Cross-check management guidance and analyst consensus for revenue and EBITDA growth rates.
- Perform scenario-based DCF using implied growth consistent with forward multiples.
- Compare multiples vs. direct peers and historical company multiples to gauge premium sustainability.
Shenzhen YHLO Biotech Co., Ltd. (688575.SS) Risk Factors
Shenzhen YHLO Biotech operates in a fast-evolving in-vitro diagnostics (IVD) market where commercial, regulatory and operational risks directly influence revenue profiles and valuation. Key risk areas below quantify exposure where possible and identify drivers investors should monitor.- Intense competition in IVD
- Regulatory exposure in China's healthcare sector
- Post-pandemic market normalization
| Metric | Most Recent Reported (Year) | Key Note |
|---|---|---|
| Revenue | RMB 3.2 billion (2023) | Includes instrument sales and reagent consumables; international sales estimated ~28% |
| Net Profit | RMB 610 million (2023) | Net margin ~19%-sensitive to price competition and R&D spend |
| Gross Margin | ~60% (2023) | Dependent on product mix; reagent-heavy mix supports margins |
| R&D Spend | RMB 420 million (2023), ~13% of revenue | Critical for pipeline and regulatory approvals |
| International Sales | ~28% of total revenue (2023) | Exposes firm to FX and local regulatory regimes |
| Cash & Equivalents | RMB 1.1 billion (end‑2023) | Liquidity cushion but sensitive to capex for manufacturing scale‑up |
- Foreign exchange volatility
- Customer and supplier concentration
- Supply chain and manufacturing disruptions
- Other operational risks
Shenzhen YHLO Biotech Co., Ltd. (688575.SS) - Growth Opportunities
Shenzhen YHLO Biotech Co., Ltd. (688575.SS) has demonstrated rapid international expansion and product-led revenue growth, positioning the company to capture larger shares of global diagnostics markets. Coverage now spans 120 countries and regions, supported by a growing overseas footprint and targeted R&D investments.- Global footprint: presence in 120 countries and regions, enabling diversified market exposure and reduced single-market concentration risk.
- International infrastructure: six international offices/service centers and one dedicated overseas R&D center to localize service, training, and product adaptation.
- R&D pipeline: ongoing development efforts focused on expanding chemiluminescence assay panels, improving automation integration, and enhancing reagent shelf-life and stability.
| Metric | Amount (CNY) | YoY Change |
|---|---|---|
| Overseas self-produced main business revenue | 208,000,000 | +39.39% |
| Revenue - overseas chemiluminescence business | 190,000,000 | +41.96% |
| Revenue - overseas chemiluminescence reagents (incl. consumables) | 117,000,000 | +50.79% |
- Product mix shift toward recurring-revenue consumables: reagents and consumables grew fastest (+50.79% YoY), improving revenue predictability and margin stability.
- Channel and service expansion: six international offices/service centers enhance after-sales support, training, and faster regulatory alignment in target markets.
- Scale economies in production and supply chain: rising overseas self-produced revenue (CNY 208m, +39.39%) suggests improving unit economics and localized manufacturing benefits.
- Technology differentiation: advances in chemiluminescence assays and automation integration increase value proposition to hospitals and reference labs, driving adoption and cross-selling opportunities.
- Top-line momentum is driven by exports and consumables; monitoring gross margin trends on reagent mix and FX exposure is critical.
- Geographic diversification (120 countries) reduces single-market regulatory risk but raises execution risk tied to local reimbursement and tender dynamics.
- Investment in the overseas R&D center signals commitment to product localization and faster regulatory submissions, which could accelerate adoption in region-specific markets.
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