Executive Summary
Jenscare Scientific reported QQ2 2025 results that underscore a rapid burn in development activity despite a high gross margin on a very small revenue base. Revenue for the quarter stood at 6.713 million CNY, with gross profit of 5.9135 million CNY and a gross margin of 88.1%, reflecting a substantial contribution from fixed-cost absorption and potential prioritization of development programs. However, operating expenses totaled 75.081 million CNY, driving an EBITDA of -67.173 million CNY and an operating loss of -69.168 million CNY. Net income collapsed to -84.7825 million CNY with an EPS of -0.21. The company maintains a strong liquidity posture, with a current ratio of 6.77 and cash ratio of 5.18, and a debt ratio of 0.0595, implying limited near-term balance-sheet leverage. The delta between revenue and expenses confirms Jenscare remains in a pre-revenue, R&D-intensive phase focused on LuXValve and KenValve product candidates for structural heart disease in China. Management commentary is not captured in the provided transcript data, limiting visibility into forward-looking commitments, but the financial trajectory indicates a longer runway supported by cash reserves rather than near-term profitability. Investors should weigh the high execution risk and substantial capital needs against the potential long-term payoff from FDA/CFDA/China-wide regulatory milestones, clinical data, and eventual market adoption of its transcatheter therapies.
Key Performance Indicators
QoQ: 0.00% | YoY:-148 175.38%
QoQ: 0.00% | YoY:-225 238.54%
QoQ: 0.00% | YoY:-126.05%
Key Insights
Revenue: 6,713,000 CNY; Gross Profit: 5,913,500 CNY; Gross Margin: 88.09% (0.881). Operating Expenses: 75,081,000 CNY; EBITDA: -67,173,000 CNY; EBIT: -69,167,500 CNY; EBIT Margin: -10.30%; Net Income: -84,782,500 CNY; Net Margin: -12.63%; EPS: -0.21. Balance sheet and cash flow indicators imply a liquidity surplus with limited leverage but ongoing cash burn. ...
Financial Highlights
Revenue: 6,713,000 CNY; Gross Profit: 5,913,500 CNY; Gross Margin: 88.09% (0.881). Operating Expenses: 75,081,000 CNY; EBITDA: -67,173,000 CNY; EBIT: -69,167,500 CNY; EBIT Margin: -10.30%; Net Income: -84,782,500 CNY; Net Margin: -12.63%; EPS: -0.21. Balance sheet and cash flow indicators imply a liquidity surplus with limited leverage but ongoing cash burn.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
6.71M |
N/A |
0.00% |
| Gross Profit |
5.91M |
N/A |
0.00% |
| Operating Income |
-69.17M |
-148 175.38% |
0.00% |
| Net Income |
-84.78M |
-225 238.54% |
0.00% |
| EPS |
-0.21 |
-126.05% |
0.00% |
Key Financial Ratios
operatingProfitMargin
-1030%
operatingCashFlowPerShare
$-0.11
freeCashFlowPerShare
$-0.12
Management Commentary
Note: The earnings transcript data is not provided in the input. Consequently, no management quotes or themes can be quoted verbatim. The analysis below reflects available financial data and customary management focus areas for a pre-commercial medical device company in China.
No transcript quotes available.
— N/A
No transcript quotes available.
— N/A
Forward Guidance
No explicit forward guidance is included in the provided data. Given the current P&L trajectory, Jenscare’s near-term guidance is likely to emphasize continued R&D progression for LuXValve and KenValve, regulatory and clinical development milestones, and funding strategy to support operations until commercial revenue contributions materialize. Our assessment suggests: (1) Funding runway will depend on additional capital raises or strategic partnerships; (2) Milestones to watch include regulatory submissions/clearances, pivotal trial data, or early market access agreements; (3) The achievability of guidance hinges on timely regulatory approvals, favorable clinical outcomes, and the ability to convert R&D progress into revenue-generating partnerships or licenses. Key factors investors should monitor include the burn rate (R&D and SG&A intensity), any announced capital-raising plans, timing of potential product approvals, and the evolution of cash burn as the company scales development activities.