Anhui HwasuLtd, despite having net cash, is concerning due to its earnings loss at the EBIT level and revenue drop over the past year. The company appears to be at risk and may need to raise capital again soon.

Despite Anhui HwasuLtd's weak revenue growth, it trades at a P/S ratio similar to the industry. Investors may face disappointment if the P/S falls in line with recent growth rates. Without significant medium-term performance improvement, preventing P/S ratio decline will be tough.