NASDAQ : PASW
Ping An Biomedical Co., Ltd. — Financial statements
Consumer Discretionary · Textile Manufacturing · Hong Kong
Last price 5 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 15.64M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Ping An Biomedical Co., Ltd. (PASW) reported revenue of 25.51M CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 25.51M | 34.15M | 87.62M | 82.56M | 114.55M | 99.52M |
| Cost of Revenue | 23.15M | 33.20M | 82.21M | 78.32M | 100.40M | 85.25M |
| Gross Profit | 2.37M | 949.50K | 5.42M | 4.24M | 14.14M | 14.27M |
| Selling, General & Admin | 9.78M | 6.31M | 5.30M | 3.60M | 3.52M | 3.76M |
| Operating Expenses | 12.91M | 15.65M | 5.42M | 3.63M | 3.33M | 6.00M |
| Operating Income | -10.55M | -14.70M | -2.04K | 612.48K | 10.82M | 8.27M |
| Interest Expense | -287.64K | -307.06K | -705.27K | -1.74M | -1.57M | -1.36M |
| Interest & Investment Income | 394.25K | 326.35K | 2.03K | 156.14K | 42.34K | 4.42K |
| Currency Exchange Gain (Loss) | -5.37K | -2.27K | 189.03K | |||
| Other Non Operating Income (Expenses) | 103.09K | -2.62K | 27.93K | 1.01M | 336.30K | 722.26K |
| Pretax Income | -4.66M | -14.68M | -682.72K | 41.69K | 9.63M | 7.82M |
| Income Tax Expense | -892.73K | -1.86M | 601.46K | 1.04M | 2.40M | 2.61M |
| Net Income | -3.77M | -12.83M | -1.28M | -993.94K | 7.23M | 5.21M |
| Net Income to Common | -3.77M | -12.83M | -1.28M | -993.94K | 7.23M | 5.21M |
| Shares Outstanding (Basic) | 868.61K | 461.99K | 450.00K | 450.00K | 450.00K | 450.00K |
| Shares Outstanding (Diluted) | 868.61K | 461.99K | 450.00K | 450.00K | 450.00K | 450.00K |
| EPS (Basic) | -4.34 | -27.77 | -2.85 | -2.21 | 16.06 | 11.59 |
| EPS (Diluted) | -4.34 | -27.77 | -2.85 | -2.21 | 16.06 | 11.59 |
| Free Cash Flow | -5.54M | -6.43M | 14.63M | -6.08M | 21.06M | -31.40M |
| Free Cash Flow Per Share | -6.38 | -13.91 | 32.51 | -13.52 | 46.81 | -69.78 |
| Gross Margin | 9.27% | 2.78% | 6.18% | 5.14% | 12.35% | 14.34% |
| Operating Margin | -41.34% | -43.05% | -0.00% | 0.74% | 9.44% | 8.31% |
| Profit Margin | -14.78% | -37.57% | -1.47% | -1.20% | 6.31% | 5.24% |
| Free Cash Flow Margin | -21.73% | -18.82% | 16.70% | -7.37% | 18.39% | -31.55% |
| EBITDA | -10.54M | -14.70M | 8.20K | 645.24K | 10.84M | 8.29M |
| EBITDA Margin | -41.32% | -43.04% | 0.01% | 0.78% | 9.46% | 8.33% |
| D&A For EBITDA | 4.90K | 5.58K | 10.24K | 32.76K | 24.65K | 19.38K |
| EBIT | -10.55M | -14.70M | -2.04K | 612.48K | 10.82M | 8.27M |
| EBIT Margin | -41.34% | -43.05% | -0.00% | 0.74% | 9.44% | 8.31% |
| Effective Tax Rate | 2,484.34% | 24.92% | 33.32% |
Balance sheet
Fiscal year October - September; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 6.84M | 1.17M | 130.92K | 591.87K | 1.17M | 105.71K |
| Short-Term Investments | 66.79K | |||||
| Cash & Short-Term Investments | 6.84M | 1.17M | 130.92K | 591.87K | 1.23M | 105.71K |
| Accounts Receivable | 6.19M | 16.93M | 40.44M | 47.09M | 57.00M | 49.02M |
| Other Receivables | 454.95K | 314.72K | 70.66K | 66.84K | 32.47K | 761.60K |
| Receivables | 6.64M | 17.25M | 40.51M | 47.16M | 57.03M | 49.78M |
| Inventory | 441.90K | 127.30K | 3.19M | 4.63M | 16.01M | |
| Restricted Cash | 29.14M | 35.52M | ||||
| Other Current Assets | 13.28M | 9.31M | 12.54M | 25.63M | 16.15M | 4.47M |
| Total Current Assets | 55.91M | 63.70M | 53.31M | 76.57M | 79.04M | 70.36M |
| Property, Plant & Equipment | 272.91K | 467.58K | 817.40K | 539.62K | 182.58K | 572.25K |
| Long-Term Deferred Tax Assets | 2.79M | 4.25M | 2.72M | 2.73M | 2.72M | 2.77M |
| Total Assets | 100.22M | 68.41M | 56.85M | 79.84M | 81.95M | 73.71M |
| Accounts Payable | 1.62M | 9.41M | 15.06M | 9.27M | 18.04M | 7.14M |
| Accrued Expenses | 125.24K | 266.90K | 557.48K | 816.36K | 1.77M | 270.72K |
| Short-Term Debt | 10.00M | 10.00M | 10.00M | 42.50M | 56.10M | 60.74M |
| Current Portion of Leases | 272.91K | 371.88K | 350.37K | 389.79K | 66.74K | 389.79K |
| Current Income Taxes Payable | 328.32K | 1.08M | 640.12K | |||
| Current Unearned Revenue | 69.78K | 1.67M | 531.33K | 272.65K | 1.67M | |
| Other Current Liabilities | 10.02M | 2.95M | 35.61M | 32.12M | 23.01K | 4.85M |
| Total Current Liabilities | 22.04M | 23.08M | 63.58M | 85.63M | 77.35M | 75.70M |
| Long-Term Leases | 95.70K | 461.45K | 66.74K | 66.74K | ||
| Total Liabilities | 22.04M | 23.17M | 64.04M | 85.70M | 77.35M | 75.77M |
| Common Stock | 54.21K | 8.40K | 7.27K | 7.27K | 7.27K | 7.27K |
| Additional Paid-In Capital | 107.75M | 66.21M | 91.00 | |||
| Retained Earnings | -14.54M | -19.37M | -6.54M | -4.94M | 5.66M | -1.57M |
| Comprehensive Income & Other | -15.08M | -1.61M | -656.67K | -926.48K | -1.07M | -500.37K |
| Shareholders' Equity | 78.18M | 45.24M | -7.19M | -5.86M | 4.60M | -2.06M |
| Total Liabilities & Equity | 100.22M | 68.41M | 56.85M | 79.84M | 81.95M | 73.71M |
| Total Debt | 10.27M | 10.47M | 10.81M | 42.96M | 56.16M | 61.20M |
| Net Cash (Debt) | -3.43M | -9.30M | -10.68M | -42.36M | -54.93M | -61.09M |
| Net Cash Per Share | -3.95 | -20.12 | -23.74 | -94.14 | -122.07 | -135.77 |
| Filing Date Shares Outstanding | 3.13M | 613.75K | 450.00K | 450.00K | 450.00K | 450.00K |
| Total Common Shares Outstanding | 3.13M | 512.50K | 450.00K | 450.00K | 450.00K | 450.00K |
| Working Capital | 33.87M | 40.62M | -10.27M | -9.06M | 1.69M | -5.34M |
| Book Value Per Share | 24.99 | 88.28 | -15.97 | -13.02 | 10.22 | -4.58 |
| Tangible Book Value | 78.18M | 45.24M | -7.19M | -5.86M | 4.60M | -2.06M |
| Tangible Book Value Per Share | 24.99 | 88.28 | -15.97 | -13.02 | 10.22 | -4.58 |
| Machinery | 99.25K | 99.25K | 99.25K | 99.25K | 74.48K |
Cash flow statement
Fiscal year October - September; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -3.77M | -12.83M | -1.28M | -993.94K | 7.23M | 5.21M |
| Depreciation & Amortization | 2.10K | 5.58K | 10.24K | 32.76K | 24.65K | 391.49K |
| Provision & Write-off of Bad Debts | 3.13M | 9.34M | 124.00K | 29.84K | -192.04K | 2.24M |
| Other Operating Activities | -534.56K | -1.17M | 367.54K | 376.54K | 437.79K | -560.82K |
| Change in Accounts Receivable | 20.68M | 14.17M | 6.53M | 9.88M | -7.79M | -28.89M |
| Change in Inventory | 138.47K | -308.47K | 3.06M | 1.44M | 11.39M | -10.18M |
| Change in Accounts Payable | -5.01M | -5.64M | 5.78M | -8.76M | 10.90M | 5.19M |
| Change in Unearned Revenue | -757.69K | -1.60M | 1.14M | 258.68K | -1.40M | 1.08M |
| Change in Income Taxes | 8.99K | -328.32K | 328.32K | -1.08M | 441.13K | -248.00K |
| Change in Other Net Operating Assets | -15.20M | -8.06M | -1.43M | -7.26M | 47.91K | -5.61M |
| Operating Cash Flow | -5.54M | -6.43M | 14.63M | -6.08M | 21.09M | -31.37M |
| Capital Expenditures | -24.78K | -26.99K | ||||
| Other Investing Activities | 2.28M | 15.00M | -3.37M | -30.23M | ||
| Investing Cash Flow | -26.85M | 15.00M | -3.37M | -30.26M | -26.99K | |
| Short-Term Debt Issued | 61.94M | 53.38M | 82.25M | 86.25M | 53.82M | |
| Total Debt Issued | 42.31M | 61.94M | 53.38M | 82.25M | 86.25M | 53.82M |
| Short-Term Debt Repaid | -95.41M | -83.14M | -63.77M | -71.19M | -22.00M | |
| Long-Term Debt Repaid | -372.12K | |||||
| Lease Payments | -372.12K | |||||
| Total Debt Repaid | -77.98M | -95.41M | -83.14M | -63.77M | -71.19M | -22.37M |
| Net Debt Issued (Repaid) | -35.68M | -33.47M | -29.77M | 18.48M | 15.06M | 31.45M |
| Issuance of Common Stock | 28.62M | 7.27K | ||||
| Common Dividends Paid | -322.41K | -9.60M | -4.83M | |||
| Other Financing Activities | 77.13M | 77.13M | ||||
| Financing Cash Flow | 70.07M | 43.66M | -30.09M | 8.87M | 10.24M | 31.45M |
| Foreign Exchange Rate Adjustments | -1.81M | -667.29K | -2.27K | 1.08K | -5.69K | -98.19K |
| Net Cash Flow | 35.88M | 36.57M | -460.95K | -574.66K | 1.06M | -53.01K |
| Free Cash Flow | -5.54M | -6.43M | 14.63M | -6.08M | 21.06M | -31.40M |
| Free Cash Flow Margin | -21.73% | -18.82% | 16.70% | -7.37% | 18.39% | -31.55% |
| Free Cash Flow Per Share | -6.38 | -13.91 | 32.51 | -13.52 | 46.81 | -69.78 |
| Levered Free Cash Flow | -46.39M | -59.24M | 32.85M | 22.72M | 4.84M | -26.91M |
| Unlevered Free Cash Flow | -46.21M | -59.05M | 33.29M | 23.81M | 5.82M | -26.06M |
| Free Cash Flow After Leases | -5.54M | -6.43M | 14.63M | -6.08M | 21.06M | -31.77M |
| Cash Interest Paid | 272.73K | 310.89K | 705.27K | 1.95M | 1.49M | 1.24M |
| Cash Income Tax Paid | 220.87K | 2.12M | 1.91M | 3.41M | ||
| Change in Working Capital | -137.48K | -1.77M | 15.41M | -5.53M | 13.59M | -38.66M |
Ratios
Fiscal year October - September; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 16.01M | 25.42M | ||||
| Enterprise Value | 16.51M | 26.87M | ||||
| Last Close Price | 5.12 | 49.60 | ||||
| PS Ratio | 4.33 | 5.30 | ||||
| PB Ratio | 1.41 | 4.00 | ||||
| P/TBV Ratio | 1.41 | 4.00 | ||||
| EV/Sales Ratio | 4.46 | 5.60 | ||||
| Debt / Equity Ratio | 0.13 | 0.23 | -1.50 | -7.33 | 12.21 | -29.67 |
| Debt / EBITDA Ratio | 25.36 | 40.30 | 4.96 | 6.88 | ||
| Debt / FCF Ratio | 0.74 | 2.67 | ||||
| Net Debt / Equity Ratio | 0.04 | 0.20 | -1.49 | -7.23 | 11.94 | -29.62 |
| Net Debt / EBITDA Ratio | -0.33 | -0.63 | 1,302.55 | 65.66 | 5.07 | 7.37 |
| Net Debt / FCF Ratio | -0.62 | -1.45 | 0.73 | -6.96 | 2.61 | -1.95 |
| Asset Turnover | 0.34 | 0.55 | 1.28 | 1.02 | 1.47 | 1.89 |
| Inventory Turnover | 116.65 | 49.58 | 20.05 | 9.73 | 7.80 | |
| Quick Ratio | 0.61 | 0.80 | 0.64 | 0.56 | 0.75 | 0.66 |
| Current Ratio | 2.54 | 2.76 | 0.84 | 0.89 | 1.02 | 0.93 |
| Return on Equity (ROE) | -11.35% | -67.43% | 569.72% | |||
| Return on Assets (ROA) | -8.86% | -14.67% | -0.00% | 0.47% | 8.69% | 9.80% |
| Return on Invested Capital (ROIC) | -12.92% | -61.50% | -54.35% | 28.23% | ||
| Return on Capital Employed (ROCE) | -13.50% | -32.40% | 0.00% | -10.60% | 235.10% | -414.20% |
| Earnings Yield | -12.29% | -7.09% | ||||
| FCF Yield | -5.20% | -3.55% | ||||
| Payout Ratio | 66.84% | |||||
| Buyback Yield / Dilution | -93.03% | -2.66% |