New Risk • May 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 212% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). High level of non-cash earnings (212% accrual ratio). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$7.19m market cap). New Risk • May 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$7.76m market cap). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to US$7.20, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 24x in the Medical Equipment industry in the US. Total loss to shareholders of 66% over the past year. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to US$6.47, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 26x in the Medical Equipment industry in the US. Total loss to shareholders of 83% over the past year. New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (US$6.03m market cap). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (26% increase in shares outstanding). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to US$6.52, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 27x in the Medical Equipment industry in the US. Total loss to shareholders of 82% over the past year. Board Change • Feb 14
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. CEO & Chairman Yi Lu is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 31
Wei Ha Hui acquired Advanced Biomed HK Limited from Advanced Biomed Inc. (NasdaqCM:ADVB) for $0.02 million. Wei Ha Hui entered into an agreement to acquire Advanced Biomed HK Limited from Advanced Biomed Inc. (NasdaqCM:ADVB) for $0.02 million on December 23, 2025. A cash consideration of $0.02 million will be paid by Wei Ha Hui. As part of consideration, $0.02 million is paid towards common equity of Advanced Biomed HK Limited.
All intellectual property owned by Advanced Biomed HK, including intellectual property owned by Shanghai Sglcell Biotech Co., Ltd., a wholly owned subsidiary of Advanced Biomed HK, was transferred to Wei Ha Hui at the closing of this transaction on December 23, 2025.
The transaction has been unanimously approved by the Advanced Biomed Inc. board.
Wei Ha Hui completed the acquisition of Advanced Biomed HK Limited from Advanced Biomed Inc. (NasdaqCM:ADVB) on December 23, 2025. Announcement • Nov 15
Advanced Biomed Inc. announced delayed 10-Q filing On 11/14/2025, Advanced Biomed Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Oct 01
Advanced Biomed Inc. announced delayed annual 10-K filing On 09/30/2025, Advanced Biomed Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Sep 19
Advanced Biomed Inc. Announces Launch of A+PerfusC™? - Integrated Perfusion 3D Cell Culture Platform for Precision Medicine and Drug Discovery Advanced Biomed Inc. announced the launch of its A+PerfusC™? system, a compact, all-in-one perfusion 3D cell culture incubator designed to replicate human physiological conditions in vitro. The A+PerfusC®? platform integrates automated perfusion with environmental control in a compact format that can be mounted directly onto a microscope for real-time observation. The system supports up to 12 days of continuous, hands-free culture, reducing the risk of human error and contamination. By maintaining uniform nutrient delivery and preventing waste accumulation, the platform promotes spheroid and organoid formation, enhancing cell viability, growth, and drug response predictability. The system is characterized and proved by: 8 independent channel/patient source per plate; 600 tumor spheroids per row for one patient; 4,800 tumor spheroids per plate; Easy to transfer into 96 or 384 well plate for high-throughput drug screening; Easy to mount on microscopy platforms; Expandable- control platform supporting up to four incubators. A+PerfusCTM system and its 3D culture plate (consumable) have passed internal testing and validation with design finalized. Currently the Company is advancing its mass-production development. Its commercialization can be achieved following mass-production development finalized and quality control standards established. Potential applications include personalized oncology research, invitro drug screening, regenerative medicine, organoid studies, and stem cell research. According to Mordor Intelligence, the global 3D cell culture market was valued at USD 2.32 billion in 2025 and is projected to exceed USD 4.71 billion by 2030, representing a compound annual growth rate of over 15.6%. New Risk • Aug 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.25m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 2.7% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$9.25m market cap). Announcement • Jul 25
Advanced Biomed Receives a Written Notice from the Listing Qualifications Department of the Nasdaq Stock Market On July 18, 2025, Advanced Biomed Inc. received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that, for the last 32 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The Notice has no immediate effect on the listing or trading of the Company’s common stock, which will continue to trade on the Nasdaq Capital Market under the symbol “ADVB.” In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided a compliance period of 180 calendar days, or until January 14, 2026 (the “Compliance Period”), to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days during the Compliance Period. If the Company does not regain compliance by the end of the Compliance Period, the Company may be eligible for an additional 180 calendar day compliance period, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market (except for the bid price requirement), and provides written notice to Nasdaq of its intent to cure the deficiency during the second compliance period, including, if necessary, by effecting a reverse stock split. The Company intends to monitor the closing bid price of its common stock and will consider all available options to regain compliance with the Minimum Bid Price Requirement within the compliance period. Announcement • Jun 07
Advanced Biomed Inc. announced that it expects to receive $25 million in funding from Helena Global Investment Opportunities 1 Ltd. Advanced Biomed Inc. announced that it has entered into an equity line purchase agreement to issue common shares for gross proceeds of $25,000,000 on June 6, 2025. The equity line agreement shall be terminated automatically on the earliest of the first day of the month next following the 24-month anniversary of the date hereof or the date on which the investor shall have made payment of advances pursuant to this agreement for common stock equal to the commitment amount. The transaction includes participation from new investor, Helena Global Investment Opportunities 1 Ltd. New Risk • May 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$4.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$4.8m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 2.7% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$25.1m market cap). New Risk • Apr 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$2.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.4m free cash flow). Earnings have declined by 1.9% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$41.1m market cap). Announcement • Mar 07
Advanced Biomed Inc. has completed an IPO in the amount of $6.56 million. Advanced Biomed Inc. has completed an IPO in the amount of $6.56 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,640,000
Price\Range: $4
Discount Per Security: $0.3 Board Change • Mar 06
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Secretary & Director Hung Pau is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. 