Concerns rise over the company's financial health due to increasing debt, falling revenue, and EBIT loss. The strained balance sheet and cash burn over the last year add to the risk.

Despite declining revenue, the company's high P/S ratio may be due to investors' turnaround expectations. However, negative growth rates pose a risk of disappointment if the P/S ratio falls. The high P/S ratio may not be sustainable unless medium-term conditions improve.

The company's declining revenue and EBIT loss, coupled with its debt, raises concerns about its financial health. Further, it burned through CN¥13m of cash over the last year, amplifying the risk factor.

Given the share price's strong momentum, it might be worthwhile to delve into the stock further. Despite the revenue reduction, the stock has performed well, suggesting that market sentiment around the stock is improving.

Anshan Senyuan's dropping revenues over the medium-term and high P/S ratio pose potential risks for its shareholders and new investors, particularly with an expected industry growth of 32% in the coming year.