Qibu's declining revenue and high P/S ratio compared to industry peers could be a cause for concern. If the company's medium-term revenue trends continue, it could pose a significant risk to shareholders' investments and potential investors might be paying an excessive premium.

Market expectations of Qibu outperforming may explain its high P/S ratio. However, with recent revenue decline, these prices may not be sustainable. Unless conditions improve significantly, the current share price may not be seen as fair value. There are also 2 warning signs posing risks to Qibu.