Is Zhejiang Orient Gene BiotechLtd (SHSE:688298) Using Debt Sensibly?
Is Zhejiang Orient Gene BiotechLtd (SHSE:688298) Using Debt Sensibly?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We can see that Zhejiang Orient Gene Biotech Co.,Ltd (SHSE:688298) does use debt in its business. But the real question is whether this debt is making the company risky.
有人说,波动性,而不是债务,是投资者思考风险的最佳方式,但沃伦·巴菲特曾说过一句名言:“波动性远非风险的代名词。”因此,很明显,当你考虑任何给定股票的风险时,你需要考虑债务,因为过多的债务会使公司陷入困境。我们可以看到,浙江东方基因生物技术有限公司, Ltd(上海证券交易所代码:688298)确实在其业务中使用债务。但真正的问题是这笔债务是否使公司面临风险。
When Is Debt Dangerous?
债务何时危险?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. If things get really bad, the lenders can take control of the business. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. The first step when considering a company's debt levels is to consider its cash and debt together.
债务可以帮助企业,直到企业难以偿还债务,无论是新资本还是自由现金流。如果情况变得非常糟糕,贷款人可以控制业务。但是,更常见(但仍然令人痛苦)的情况是,它必须以低廉的价格筹集新的股本,从而永久稀释股东。话虽如此,最常见的情况是公司合理地管理债务,而且对自己有利。考虑公司的债务水平的第一步是同时考虑其现金和债务。
What Is Zhejiang Orient Gene BiotechLtd's Debt?
浙江东方基因生物科技有限公司的债务是多少?
As you can see below, at the end of September 2023, Zhejiang Orient Gene BiotechLtd had CN¥579.6m of debt, up from CN¥50.0m a year ago. Click the image for more detail. But on the other hand it also has CN¥5.73b in cash, leading to a CN¥5.16b net cash position.
如下所示,截至2023年9月底,浙江东方基因生物技术有限公司的债务为5.796亿元人民币,高于去年同期的5000万元人民币。点击图片查看更多细节。但另一方面,它也有57.3亿元人民币的现金,净现金状况为51.6亿元人民币。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240308/0-12411a994716097c3f2b470a8682fdd2-0-de62138d0b3e06acd7a0556e98ec8e0f.png/big)
A Look At Zhejiang Orient Gene BiotechLtd's Liabilities
看看浙江东方基因生物技术有限公司的负债
According to the last reported balance sheet, Zhejiang Orient Gene BiotechLtd had liabilities of CN¥847.8m due within 12 months, and liabilities of CN¥395.1m due beyond 12 months. Offsetting this, it had CN¥5.73b in cash and CN¥328.1m in receivables that were due within 12 months. So it actually has CN¥4.82b more liquid assets than total liabilities.
根据上次报告的资产负债表,浙江东方基因生物技术有限公司的负债为8.478亿元人民币,12个月后到期的负债为3.951亿元人民币。与此相抵消的是,它有57.3亿加元的现金和3.281亿元人民币的应收账款将在12个月内到期。所以它实际上有4.82亿元人民币 更多 流动资产超过总负债。
This surplus liquidity suggests that Zhejiang Orient Gene BiotechLtd's balance sheet could take a hit just as well as Homer Simpson's head can take a punch. With this in mind one could posit that its balance sheet means the company is able to handle some adversity. Succinctly put, Zhejiang Orient Gene BiotechLtd boasts net cash, so it's fair to say it does not have a heavy debt load! When analysing debt levels, the balance sheet is the obvious place to start. But it is Zhejiang Orient Gene BiotechLtd's earnings that will influence how the balance sheet holds up in the future. So when considering debt, it's definitely worth looking at the earnings trend. Click here for an interactive snapshot.
这种过剩的流动性表明,浙江东方基因生物技术有限公司的资产负债表可能会受到打击,荷马·辛普森的头也可能受到打击。考虑到这一点,人们可能会认为其资产负债表意味着公司能够应对一些逆境。简而言之,浙江东方基因生物技术有限公司拥有净现金,因此可以公平地说,它没有沉重的债务负担!在分析债务水平时,资产负债表是显而易见的起点。但是,将影响未来资产负债表状况的是浙江东方基因生物技术有限公司的收益。因此,在考虑债务时,绝对值得一看收益趋势。单击此处查看交互式快照。
Over 12 months, Zhejiang Orient Gene BiotechLtd made a loss at the EBIT level, and saw its revenue drop to CN¥824m, which is a fall of 91%. That makes us nervous, to say the least.
在过去的12个月中,浙江东方基因生物技术有限公司在息税前利润水平上出现亏损,收入下降至8.24亿元人民币,下降了91%。至少可以说,这让我们感到紧张。
So How Risky Is Zhejiang Orient Gene BiotechLtd?
那么浙江东方基因生物技术有限公司的风险有多大?
Statistically speaking companies that lose money are riskier than those that make money. And the fact is that over the last twelve months Zhejiang Orient Gene BiotechLtd lost money at the earnings before interest and tax (EBIT) line. And over the same period it saw negative free cash outflow of CN¥1.6b and booked a CN¥372m accounting loss. Given it only has net cash of CN¥5.16b, the company may need to raise more capital if it doesn't reach break-even soon. Even though its balance sheet seems sufficiently liquid, debt always makes us a little nervous if a company doesn't produce free cash flow regularly. The balance sheet is clearly the area to focus on when you are analysing debt. However, not all investment risk resides within the balance sheet - far from it. For example - Zhejiang Orient Gene BiotechLtd has 1 warning sign we think you should be aware of.
从统计学上讲,亏损的公司比赚钱的公司风险更大。事实是,在过去的十二个月中,浙江东方基因生物技术有限公司的息税前收益(EBIT)亏损。同期,它的自由现金流出为负16亿元人民币,出现了3.72亿元人民币的会计亏损。鉴于其净现金仅为51.6亿元人民币,如果不能很快达到收支平衡,该公司可能需要筹集更多资金。尽管其资产负债表看起来足够流动,但如果一家公司不定期产生自由现金流,债务总是会让我们有点紧张。资产负债表显然是分析债务时需要关注的领域。但是,并非所有的投资风险都存在于资产负债表中,远非如此。例如,浙江东方基因生物技术有限公司有1个我们认为你应该注意的警告标志。
Of course, if you're the type of investor who prefers buying stocks without the burden of debt, then don't hesitate to discover our exclusive list of net cash growth stocks, today.
当然,如果你是那种喜欢在没有债务负担的情况下购买股票的投资者,那么请立即查看我们的独家净现金增长股票清单。
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