Park Ha Biological Technology Co., Ltd.
BYAH · Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics · EDGAR filings ↗
Grade
D43China beauty-products franchisor whose tiny revenue base was overwhelmed by a massive one-off G&A charge, producing a large net loss.
Strengths
- Very high gross margin 94% (100th pct) and strong liquidity (current 2.92)
- Franchise-fee model with stable top-line (revenue +6%)
Risks
- Net loss $24.4M on $2.5M revenue (G&A spiked to $25.5M); net/operating margins ~-960%
- Deeply negative returns (ROA -409%, ROE -610%) and shrinking franchisee count (45→22)
- VIE structure, customer/supplier concentration and PRC governance risk
Notable findings
- Net lossNet loss (net margin -965.0%)
Key metrics
Gross margin
94.4%
Operating margin
-956.5%
Net margin
-965.0%
Return on equity
-609.9%
Return on assets
-409.3%
Revenue growth (QoQ)
6.0%
Current ratio
2.9×
EBITDA
-$24M
Tangible book value
$4M
Cash & investments
$4M
Stock comp / revenue
953.3%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-02 | 2025-10-31 | 0001213900-26-021984 ↗ |
| 20-F | 2025-02-24 | 2024-10-31 | 0001213900-25-016603 ↗ |