Breaking Down Jafron Biomedical Co.,Ltd. Financial Health: Key Insights for Investors

A close look at Jafron Biomedical Co., Ltd. (300529.SZ) reveals striking contrasts that investors should not ignore: 2024 revenue of 2.68 billion CNY represented a +39.27% jump from 2023's 1.92 billion CNY, yet the trailing twelve months (TTM) revenue as of September 30, 2025 was only 2.04 billion CNY (a -22.58% decline from the prior TTM), while profitability metrics still show resilience with TTM net income of 481.79 million CNY and a net profit margin of 23.64%; liquidity and solvency look robust with a current ratio of 4.26 and cash & equivalents of 747.53 million CNY as of June 2025, yet market valuation and sentiment have shifted-market capitalization was reported at 15.29 billion CNY (Dec 12, 2025) and has fallen roughly 36.11% from 22.72 billion CNY a year earlier-raising questions about sustainability amid a trailing P/E near 32.58 and an EV/EBITDA of 20.04, while downside signals such as a -33.70% quarterly earnings growth YoY and an average annual profit-margin decline of 12.8% contrast with analyst forecasts of revenue growth (~15.4% p.a.) and potential earnings recovery, making this profile a must-read for investors weighing risk versus upside.

Jafron Biomedical Co.,Ltd. (300529.SZ) - Revenue Analysis

Jafron Biomedical's recent revenue trajectory shows strong year-over-year growth in 2024 followed by a contraction on a trailing twelve months basis through September 30, 2025. Key headline figures and product-level drivers highlight both the company's strength in hemoadsorption products and emerging softening in aggregate sales.

• 2024 total revenue: 2.68 billion CNY, up 39.27% from 1.92 billion CNY in 2023.
• TTM revenue (as of 2025-09-30): 2.04 billion CNY, down 22.58% vs. prior TTM period.
• Market capitalization (2025-12-12): 15.29 billion CNY; P/S ratio: 7.66.
• Revenue per employee: 728,514 CNY; total employees: 2,797.

Product mix and timing effects: hemoadsorption products were a major Q1 2024 growth driver, with sales of ~97.26 million USD (an 85.51% increase YoY), contributing materially to the 30% rise in Q1 operating income to 104.56 million USD. However, the TTM decline to 2.04 billion CNY through 2025-09-30 indicates either softening demand, lapping of prior strong quarters, or channel/inventory adjustments.

• Short-term valuation context: market cap 15.29 billion CNY with P/S 7.66 implies market prices reflect high growth expectations compared with recent TTM revenue trends.
• Operational efficiency: revenue per employee of 728,514 CNY provides a productivity benchmark relative to peers in medtech.

For more on the company's history, ownership and business model see: Jafron Biomedical Co.,Ltd.: History, Ownership, Mission, How It Works & Makes Money

Jafron Biomedical Co.,Ltd. (300529.SZ) - Profitability Metrics

Key profitability figures for the trailing twelve months (TTM) ending September 30, 2025, and recent trends highlight where Jafron Biomedical sits versus industry dynamics and historical performance.

• Net income (TTM): 481.79 million CNY
• Net profit margin (TTM): 23.64%
• Operating margin (TTM): 41.96%
• Return on equity (ROE): 14.20%
• Earnings per share (EPS, TTM): 0.63 CNY
• Price-to-earnings (P/E) ratio: 31.35
• Quarterly earnings growth (YoY): -33.70%
• Average annual profit margin decline: -12.8% (company); Medical Equipment industry: -6.7% annually

• Drivers behind high operating margin: product mix skewed to higher-margin lines, efficient manufacturing and gross-margin preservation.
• Risks implied by trends: accelerating YoY earnings decline (-33.70%) and steeper profit-margin contraction (-12.8% vs industry -6.7%) suggest pressures on pricing, volume, or rising costs.
• Valuation note: P/E of 31.35 on EPS 0.63 CNY reflects market expectations for recovery; downside risk if margin erosion continues.

Further context on strategy and long-term positioning for Jafron Biomedical Co.,Ltd. (300529.SZ) is available here: Mission Statement, Vision, & Core Values (2026) of Jafron Biomedical Co.,Ltd.

Jafron Biomedical Co.,Ltd. (300529.SZ) Debt vs. Equity Structure

• Debt-to-Equity Ratio: 0.42 - indicates modest leverage and capacity to absorb downturns without excessive financial risk.
• Interest Coverage Ratio: 10.56 - signals comfortable ability to meet interest obligations from operating earnings.
• Enterprise Value (EV): 14.83 billion CNY - reflects combined market value of equity and net debt.
• EV/EBITDA: 20.04 - suggests relatively high valuation multiple versus current EBITDA.
• Market Capitalization (one-year change): decreased 36.11% from 22.72 billion CNY to 15.88 billion CNY.
• Balance sheet line items: total assets, total liabilities, and total liabilities & equity as of June 2025 are not specified in the available data.

• Implication for investors: the low leverage (0.42) and high interest coverage (10.56) reduce default risk, while EV/EBITDA of 20.04 and a 36.11% drop in market cap suggest valuation sensitivity to earnings performance and market sentiment.
• Key missing items for further analysis: up-to-date total assets, total liabilities, and liabilities & equity (June 2025), plus EBITDA and net debt breakdown to contextualize EV and the EV/EBITDA multiple.

Jafron Biomedical Co.,Ltd. (300529.SZ) Liquidity and Solvency

• Current ratio: 4.26 - indicates strong ability to cover short-term obligations with current assets.
• Quick ratio: 3.69 - shows sufficient immediate liquidity excluding inventories.

• Liquidity strength: High current and quick ratios suggest the company can meet short-term payables and absorb operational shocks without immediate funding.
• Cash trend: Cash and equivalents declined by 20.55% to 747.53 million CNY - an important monitor for working capital and near-term investments.
• Receivables trend: Accounts receivable also fell 20.55% to 53.54 million CNY, which may reflect faster collections or reduced sales; context requires balance-sheet detail.
• Data gaps: Total assets, total liabilities, and total liabilities & equity as of June 2025 are not specified in available disclosures, limiting full solvency analysis (leverage, debt ratios).

Jafron Biomedical Co.,Ltd. (300529.SZ) - Valuation Analysis

• Trailing P/E: 32.58
• Forward P/E: 17.72 (implies market is pricing significant earnings growth or recovery)
• P/B: 4.63 (market values net assets at a material premium)
• P/S: 7.79 (elevated relative to revenue)
• Market capitalization: 15.88 billion CNY
• Enterprise value (EV): 14.83 billion CNY
• EV/EBITDA: 20.04
• EV/FCF: 25.62
• 1-year market cap change: -36.11% (from 22.72 billion CNY to 15.88 billion CNY)

• Implication: The spread between trailing and forward P/E (32.58 → 17.72) is the clearest market signal - either analysts project near-term EPS improvement or current trailing earnings are depressed by one-off items.
• Premium P/B and P/S point to an investor willingness to pay above asset and sales levels, often justified by intellectual property, growth prospects, or higher margins in med-tech niches.
• High EV/EBITDA (20.04) and EV/FCF (25.62) indicate the stock is expensive relative to cash-generating ability; any slowdown in margin expansion or FCF conversion could pressure multiples further.

Jafron Biomedical Co.,Ltd. (300529.SZ) - Risk Factors

• Revenue decline: revenue down 22.58% year-over-year, signaling material challenges in top-line momentum.
• Profitability compression: quarterly earnings growth year-over-year at -33.70%, indicating a large drop in operating or net profits.
• Market-cap erosion: market capitalization fell 36.11% over the past year, from 22.72 billion CNY to 15.88 billion CNY.
• Margin deterioration vs. industry: company profit margin has declined at an average annual rate of 12.8%, while the Medical Equipment industry average earnings declined 6.7% annually-Jafron is deteriorating faster than peers.
• Balance sheet opacity: total assets and total liabilities (and total liabilities & equity) as of June 2025 are not specified in the available data, increasing uncertainty for leverage and liquidity assessment.

• Operational risk: sustained revenue and earnings declines may indicate product demand issues, pricing pressure, or execution problems in commercialization and cost control.
• Financial risk: absence of reported asset/liability figures restricts assessment of liquidity, solvency, and covenant exposure-creditors and investors face higher information risk.
• Market sentiment risk: a >36% market-cap contraction suggests investor confidence has materially weakened; share price vulnerability to further negative news is elevated.
• Competitive & industry risk: faster-than-industry margin deterioration points to competitive pressure, higher relative costs, or unfavorable product mix shifts.
• Execution risk: recovery depends on reversing revenue declines and stabilizing margins; delays or failed initiatives would exacerbate valuation weakness.

Jafron Biomedical Co.,Ltd. (300529.SZ) Growth Opportunities

• Global market tailwind: the blood purification equipment market is projected to reach 5,502.8 billion USD by 2027, growing at a CAGR of 4.0%, creating a large addressable market for Jafron's product portfolio.
• Analyst growth expectations: consensus forecasts indicate earnings growth of ~24% CAGR and revenue growth of ~15.4% CAGR, implying scalable margin expansion if execution matches expectations.
• Return on equity outlook: ROE is forecasted to reach 21.6% in three years, signaling anticipated improvements in capital efficiency and profitability.
• Shareholder returns: the 2023 profit distribution plan commits a cash dividend of 0.56 USD per 10 shares (total cash payout ~43.6 million USD), roughly 70% of 2023 net profit, reflecting strong cash generation and a shareholder-friendly policy.
• Market valuation dynamic: market capitalization fell ~36.11% year-over-year from 22.72 billion CNY to 15.88 billion CNY, potentially offering an entry point for investors seeking exposure to the sector at a discount.
• Balance sheet disclosure gap: total liabilities and equity as of June 2025 are not specified in available data, warranting investor attention to upcoming filings for clarity on leverage and capital structure.

• Strategic levers: expanding international sales, product pipeline advancement (new disposables and devices), and potential M&A to accelerate market penetration are plausible growth catalysts.
• Investor focus areas: validate analyst projections against quarterly execution, watch margin trends, track cash conversion given the high dividend payout ratio, and seek updated balance sheet disclosures for June 2025.
• Further reading on corporate background and business model: Jafron Biomedical Co.,Ltd.: History, Ownership, Mission, How It Works & Makes Money